The Study On Legal Issues Of Financial Supervision Reformation On The People's Bank Of China

Since 1970's, in order to adapt the mixed and global trend of financial activity, the international community revised the related law successively to reform the financial supervision system. At the same time, they built up the international financial supervision cooperation system to keep away the potential financial risk from home and abroad. Facing to the deep development of our country financial industry and the arrival of financial innovation, the concept of financial "comprehensive management" has been approved by the financial fields, and has become reality gradually. It can't satisfy the demand of financial market fusion that only emphasize in profession.The characteristic of global financial supervision is to form the mode which can strengthen the cooperation of financial supervision. The mode can stand out the important function in central bank, promote the cooperation and harmony of financial sections, perfect the financial supervision system. The divided financial supervision system of China has been formed and established, it has been an antinomy when compared with the mixed operation mode to comply with the international development trend. The large multinational financial group enters into Chinese market in succession, especially in the transition period when China joins WTO. The financial industry of China that in the background of divided operation will face to the international financial group that in the background of mixed operation. The financial supervision system of China will face to the rigorous challenge. It is very necessary to strengthen the cooperation and harmony of the financial supervision sections in the divided supervision system. The government should perfect the financial supervision system gradually to adapt the international trend and Chinese circumstance.This article mainly introduces and compares the characteristics of financial supervision and international financial cooperation system from the UK, the United States and Japan. The article learns from their experience in making law, considers the issue in reforming and perfecting the financial supervision system on the People's Bank of China. Then put forward the legal issues in reformation process, such as how the central bank continue it's responsibility of financial supervision, the relation aboutthe responsibility of financial supervision and the responsibility of monetary policy,how to set up the system of harmonizing financial supervision. The article also putforward the law suggestion, with the hope of playing some practical functions to ourcountry's financial supervision.