Inspiration From The Legislastic Experience Of Korean Import&Export Strategic Financial Agencys For China

After the 1^st world war, import&export financial companies came into being. With the monopoly capital's oversea extension, international trade flourishes and marketing problem worsens. In order to well settle the question, professional financial institutes are founded by the western countries, such as Britain's Export Credit Assuring Bureau in 1919 and the US' import and export Bank in 1945. After the 2^nd world war, facing the problems of economic recovery and reconstruction, most of the countries hurried to build their import and export banks. By now, at least over 30 countries and regions ,most of which are developed or well developing countries, have formed their government projected or supported export banking institution.In the year of 1994, china set up her own 3 strategic banks to reform her financial system, which are china development bank, agricultural development bank of china, china import and export bank. During over ten years' time, they all have played their crucial roles in certain areas directly or indirectly. However, there are still not corresponding laws in china to suit the current globalization.Import and export trade, especially export and overseas investment has great importance for the whole country in its economic development, social stability, employment situation, and so on. Nonetheless, in the frame of WTO, various government subventions are forbidden while strategic banking on import and export is allowed. Therefore, this becomes every country's competing point, which can even measure the country's integrated international competence.Korea, as china's major trade partner, has close economic coordination with china. In Korean development, its import bank has played an important part. In 1969, Korea has framed its export banking law. After being modified several times, the institution has been the renowned supporting organization on import and export in Asia. In Jan 2008, the law was renewed again. Its supporting areas have been greatly enlarged and it can also warrant foreign governments or enterprises so as to promote its export. All these items can provide stable circumstances for its industrial development and its OECD membership under the frame of WTO. The experience has been absorbed by many Asian countries; especially Vietnam's absorbing for its construction of import and export bank. Maybe, the Korean law and its development procedure are useful for china which is planning to make the law of import and export bank to learn.This paper, started from the development of strategic financial institutions, by analyzing their position, function and their lawmaking experience, also by the exemplification of Korea, aims to provide some advice on china's strategic financial institutions of import and export.