| Since reform and opening up, China's financial sector reform has been a notable success. In November 2006, China's banking industry has been fully opened, in the face of the WTO international environment of the grim situation, through the Bank's reorganization to improve our banking system security, making it stable and healthy development it is particularly urgent. Based on the aftermath of the Asian financial crisis of the Korean banking sector restructuring process, measures and the effectiveness of research, South Korea discussed the reorganization of the banking sector to the development of China's banking industry insight. In conjunction with this thinking, the transcript is divided into four chapters.The first chapter, from the financial crisis in South Korea before the start of the financial situation. Analysis of the Korean financial crisis and the banking sector restructuring Korean background. 1.1997 late Korea "Bureaucracy financial" market order spread, to the South Korean financial sector is a big negative impact. 2. The process of financial liberalization in South Korea ineffective supervision of financial enterprises, resulting in the capital structure of excessive liabilities. And large enterprise groups because of excess capacity, poor management for blind expansion, banks see more bad debts. 3. Insufficient domestic capital accumulation and economic growth in the funds mainly from foreign debt. Excessive short-term capital inflows weakened the central bank's monetary policy independence, so that the central bank can not effectively to the overheating of the economy to adjust. When the financial turmoil outside, the domestic banking sector vulnerable.The second chapter, this is the main, major analysis of the financial crisis in South Korea banking restructuring process and measures. South Korea's banking sector restructuring process is divided into two phases:The first stage is to make great efforts to rectify the problem financial institutions, through the mergers of financial institutions, adjustment, change too many financial institutions, reduce the burden on the banks, restoration of the financial system to improve operational efficiency. According to an agreement signed between the IMF and the BIS ratio reached 8% of the bank capital, mergers and seek foreign capital to fund, and the scaling down of business or replace other ways to improve management operations. The second stage, the first stage is to consolidate the achievements in the reorganization, the financial markets and infrastructure reform, raise the competitiveness of the industry. The guidance of the government, the "viability" of the reorganization of the bank, at the same time, fine between banks for the initiative to reorganize.From six to South Korea's banking sector restructuring measures analysis:1. The South Korean government to protect the banking sector restructuring started smoothly, the financial institutions guarantee the normal operation, taken by the corresponding financial system and regulations means.2. Government, through the injection of public funds to promote financial institutions to rectify bad, reorganization, to improve banking soundness and transparency of the process. (1) of non-performing assets to raise finishing funds, acquisition and management of bad assets. disposal of non-performing assets in three aspects : the provision of public funding agencies -- Korea Asset Management Corporation (KAMCO) bad assets handling the role. (2) introduce the public to raise funds of. (3) describe the South Korean government investment of public funds and the specific use of recycling.3. Improve the financial system. South Korean government injected massive funds to accelerate bad debt at the same time, to restore the financial system's liquidity, the establishment of the deposit insurance system and information disclosure system.4. Based on the South Korea government reorganization of the banking sector and foreign funds to participate in the process of reorganization of the three models and the introduction of foreign capital with a description of effects , introduced Korea to attract foreign investment and promote banking reform process. Foreign capital to participate in the reorganization of three models: 1. Have strong financial strength of banks to introduce direct foreign shareholder (FDI); 2. Korea First Bank similar to the asset reorganization model, and commercial banks after the merger and reorganization of the introduction of foreign models; 3. Through public sale GDR (Global Depository Receipts) to attract global strategic investors. From the effects of the introduction of foreign investment, the Republic of Korea in the introduction of foreign financial institutions in the management, the ratio of bad loans has declined markedly.Mixed Management Banking began the development trend of gradually to the securities and investment industry to expand their businesses. And in reducing non-performing assets and improve overall efficiency attained outstanding achievements. The introduction of foreign funds in solving strategy, corporate governance, human resources, and other key issues of other measures play a irreplaceable role. 5. Facilitate the merger and reorganization and privatization process. (A) The government-led inter-bank merger. Through the inter-bank merger Bank of industrial policy from the financial crisis before the change to promote competition by the larger banks to improve the stability of the financial system. (2) Privatization of the Korean banking industry. South Korean government is aware of the banking industry to truly powerful and internationally competitive, only foreign capital participation is not enough. domestic private capital to strengthen and improve the financial sector plays an important role. After the financial crisis, to improve the soundness of the financial system and enhance its competitive edge, The South Korean government in implementation of privatization in the banking sector.6. South Korean banking restructuring and reorganization of enterprises to keep pace. (1) After the financial crisis, the Korean government is aware wants to address the root causes of bad assets induced by the important factors, Enterprise reform is essential. Enterprise reform and to provide a supportive environment. (2) The government-led restructuring of enterprises are the main principles: first, to ensure their transparency and international market integration, improve enterprise competitiveness; Second, the financial institutions under the guidance of the enterprise implementation of structural adjustment; Third, interested parties on the appropriate sharing of losses; Fourth, enterprises improve work as enterprise restructuring of the core. (3) The government aware that the process of corporate restructuring, enterprise through their own efforts in structural adjustment, and the financial structure should be adjusted simultaneously.The third stage, the South Korean banking sector restructuring performance evaluation. From the two main aspects of analysis and evaluation : on the one hand, by the bank to reflect the sound competitiveness, profitability, efficiency and other financial indicators centers constitute the hardware level. The other is from the management structure and the bank's business development strategy constitute the software level. This chapter Korean banking through a combination of restructuring measures demonstrated that the Korean financial restructuring successful banking experience.1.According to the financial crisis in the Korean financial restructuring of the advance, South Korea banking on the reorganization of the results achieved a broad analysis.2.Restructured bank hardware aspect of the evaluation. With the financial restructuring of South Korea to promote the status quo, from the bank to reflect the sound competitiveness, profitability, Efficiency three aspects of discourse analysis. The results show that : (a) the reorganization of the banking industry through South Korea banks bad debt ratio is to be reduced. As of late 2007, South Korea's 18 banks bad loans amounted to 8.8 trillion won. bad debt ratio has dropped to 0.98% the lowest level in history. (2) As at the end of 2006 all the bank's capital adequacy ratio of more than 8%, with an average of 12.75%. Capital security protection greatly improved, and the BIS ratio had reached the level of developed countries. (3) Adoption of surplus human resources, business networks and affiliates restructuring and merger The efficiency of domestic banks has increased noticeably. Bank loans in advance receivables, the total assets of unit production per capita indicators and business outlets, and the financial crisis than before, there is a certain increase.3.Restructured bank software aspect of the evaluation, from the South Korean banking industry's management structure and business banking development strategy two aspects were discussed. Right bank management structure discussed include : (a) the governing bodies of the changes. (2) The South Korean banking system of internal control the effects. (3) the financial risk control strengthened. Business development strategies, including four parts : (a) operating strategy (2) large-scale, the merger strategy. (3) Banks and Enterprises parallel strategy. (4) privatization strategy.The fourth stage, with the previous chapters Korean banking restructuring process, a description of performance evaluation, through to China and South Korea similar to the financial environment compared to the banking sector reform, South Korea reached the reorganization of the banking sector to the successful experience of China, the Enlightenment.First, from the Korean financial clearing bad assets practice, we can gain inspiration: 1. Market-oriented approach to the liquidation of bad assets. Replying on a wide variety of market players, into a well-established non-performing assets trading market.2. Promote the bad assets of banks handling of diversification. 3. Adhere to the banking system restructuring and adjustment of enterprises simultaneously.Secondly, from the perspective of capital absorption Korea described the reorganization of the banking sector enlightening. 1. The introduction of foreign capital. China's banking industry should actively with the advanced foreign industry, through the introduction of strategic investors, technology, management and effective supplement market, and seek a win-win situation. 2. China-guide. The government should take effective market access policies, and actively guide the injection of private capital in the banking financial institutions to restructure.Third, improve the system of the Republic of Korea from the perspective of China's banking sector restructuring. 1. Information disclosure and transparency. China should establish a sound, unified accounting system and the banking guidelines and set up a special department to disclose the information. responsible for the disclosure of information laws and regulations and other domestic financial supervision departments, disclosure of information to the dynamic and consistency. 2. Deposit insurance system. With the reform of the financial system continued to deepen, with the national credit guarantee of gleaning the deposit insurance system is no longer applicable in the country. Objective of the financial risk banks may face the threat of bankruptcy, the state should step up construction of the deposit insurance system.Finally, the management structure of China's banking industry to rationalize the proposals. According to China's banking sector to the question, I suggest that the bank restructuring process to establish a sound corporate governance structure, the promotion of business, markets and the expansion; the establishment of a modern enterprise system needed framework for the management structure, According to the requirements of the market mechanism established managers incentive mechanism; the introduction of advanced corporate governance philosophy, China's banking policy, supervision and enforcement more consistent with international rules and market mechanisms. |
PDF Full Text Request