The Harmonization Of The Conflict Between The Goal Of WTO Financial Services Trade And The Goal Of Financial Regulation

In the WTO legal framework, the conflict between the goal for trade in financial services and financial regulation goal is internal. Especially when the wave of financial globalization and integration is gradually higher and higher, the conflict is especially evident. How to harmonize the conflict is an impending issue.The paper is attempt to clarify the legal system for trade in financial services in WTO and it summarizes the major phenomenon in the conflict including not only discriminative barriers on market access and national treatment, but also undiscriminative barriers on prudential measures, domestic regulation and the measures on market access and national treatment, and regulational competition to a certain extent. Then, it analyzes the substantive reasons for the conflict which include tremendous financial services trade exiting, the difference of financial regulation among the member countries, the legitimacy and independency of prudential measures in WTO framework on financial services trade, and the dual requirement of the liberalization of financial services trade regarding financial regulation. Furthermore, it takes effective measure on harmonization of the conflict-the lowest-limited harmonization among regulation rules of the member parties. In the end, according to the current situation in China, the paper proposes a series of legal countermeasures conducive to China's seizing opportunities in time of facing challenges.