Dissertation On The Legal System Of Market Access Supervision For Foreign Banks

Financial liberalization and economic globalization are the development trend of our world today, and banking industry, as an important part of financial sector, has experienced a scene of conspicuous global expanding. Foreign Banks have gradually exerted greater impact in the host countries. Market access is the foremost issue faced by foreign banks when entering into the host countries, meanwhile, the legal system on market access supervision for foreign banks is of certain importance to ensure financial safety in the host countries and promote healthy development in its banking sector, and it is one of the focuses of many countries in this field as well. According to China's WTO accession commitments in the financial sector, from December 11th of 2006, China shall fully cancel restrictions for foreign banks in its domestic banking market in terms of geographical confinement and customer services of the domestic and foreign currency business. In other words, from the end of 2006, China's banking industry has taken on a new phase of fully opening.For the development of China's banking industry,this new phase is not only the opportunity, but also the challenge. At the same time, it has also set higher requirements for China's foreign banks market access supervision rules. This thesis tries to, through the analysis of the basic legal system on market access for foreign banks, the relevant international legal rules established by the framework of the WTO and the Basel system of transnational banking supervision and China's relevant laws, regulations on market access supervision for foreign banks, point out the significant errors and problems existing in the legal system on market access supervision for foreign banks, and propose suggestions for further improvement.This thesis consists of four parts as follows:The first part tries to define the connotation of foreign bank and market access, introduce the rising reason of the issue, and expatiate on the legal basis of foreign banks market access.The Second part of this thesis describes four main principles of market access of foreign banks followed by the discussion on its developing trend and the right choice for China,and analyzes the specific legal system on market access of foreign bank, namely the form, the conditions and the scope of market access, and provides a frame of reference on enacting China's legal system on market access supervision of foreign bank through comparable researches.The Third part analyses the relevant international legal rules established by the framework of the WTO and the Basel Committee on market access for foreign banks, and provides the legal basis for the legal system on market access of foreign bank in our country.The Fourth Part describes and analyzes the history and status of legislation on market access for foreign banks in China, and points out the defects and shortcomings related to China's legal system on market access for foreign banks, and finally puts forward the author's own opinion for improvement.