Global Financial System Evolvement Trend And Financial Restructuring In China

A financial system comprises both financial markets and financial intermediaries. The financial system channels funds from agents with surpluses to agents with deficits. Together with society development, the financial systems develop and change with time. This paper begins with the global financial system evolvement trend. We make a brief review of the financial system development in the main developed country. We describe the origin, development and the trend of synthesis of financial system in recent years. Then we use the functional perspective to analyze the connotation of this trend. The underlying reason of these syntheses is the restructuring of financial functional allocation which is lead by the market power.After that, we analyze the financial system development and its characteristic in China. We also use the functional perspective to analyze the structural unbalance and functional defect. Finally, we indicate the idea of the financial system restructuring and the functional path of the financial development in China.