Researches On The Innovation Of Financial Supervision In China Under The Premises Of Financial Globalization

Entering into WTO meant the opportunity and the challenge to the Chinese financial industry But the opportunity comes from handling the challenge properly. Regardless of supervisor or the market competitor, the biggest challenge is to cultivate the ability to participate in the world competition within 5 years through the deepened reform The handling challenge from WTO in our financial industry is a urgent systematical engineering. and needs the joint effort of government, the financial supervising authorities and financial institutions.Although the long-term benefits from WTO is known to all, but in the short-term financial security is not allowed to neglect. The threat to finance security not only comes from the formidable competitor but also from the risk accepting the international general rule At present, the financial globalization has formed tendency. On the one hand, it enhanced the efficiency of the world financial market promoted the world economics development; on the other hand, it has also formed the very big hidden danger to the various countries' financial system. If these financial hidden dangers cannot be on guard and they can cause a country and an area and even the global financial crisis.The financial globalization is the most main manifestation and the essential content economical globalization. The financial globalization refers to mutually seeping, mutually linking mutually affecting of various countries' the financial factor, the financial organization, the financial activities and the financial market, then causes the global finance to become an inalienable whole the development tendency. Further explanation is competition between different countries by taking the transnational financial organization as the main body, taking the money market and the capital market as primary battlefield, taking the information network as the technical strut , its essence is the process of capturing the financial resources and the financial development space in the world between the different countries and different areas. The financial globalization is a double-edged sword: On the one hand the financial globalization brings quite considerable benefit for the various countries and the entire international society ;on the other hand, the huge risk follows the financial globalization process, which threatens the national finance security. When financial globalization is becoming present main melody of finance development ,the financial supervision which guarantees the financial system stead is more and more difficult.Financial supervision plays important roles in keeping banking orders, optimizing fund allocation and promoting capital flow. With the development of the financial globalization, financial innovation will also bring about many new problems relating to financial supervision, it will challenge the current financial supervision mode and the financial supervision system. The setting up of a kind of innovative supervisory system that fits for financial innovation and economy development is crucial. Therefore, the dissertation emphasizes on commercial financial supervision innovation. The financial supervising innovation is that the financial authority uses system transformation which complied with the economic environment change and financial innovation, When economy changes, specially in the process of financial globalization, the commercial bank unceasingly carries on the financial innovation on the basis of making profit, banking supervision carries on financial operations in a broader scope and in the newer form its main performance is the reform of supervising goal, the supervising content, the supervising pattern, or gradual strengthening of banking supervision. The financial innovation is an eternal, the reform of banking supervision cannot stop.Today the finance industry highly develops, the international financial activity, the financial competition deepened, a country's financial supervising organization and financial organization must promotes our country overall finance system innovation from our country finance industry development. Financial supervision is the common topic which the various countries face. The western nation in the long-term supervising practice accumulated many beneficial experiences as well as the technology which is worth profiting from. in the long-term supervising practiceThorough the development and deepness of the financial globalization, steps of opening up to the world is speeding up and enlarging gradually, especially after our country entering into WTO, our country will strengthen the financial supervision. The financial globalization and entering into the WTO t propose the unprecedented challenge to our country financial supervision innovation. The internationalization of Chinese financial supervision becomes a prominent question in current financial domain. Our country as an important participant of the international financial market important, has melted into the global finance.The dissertation is divided into four chapters.Chapter 1 is the significance of the paper ,the literature summary and the writing innovation. In recent years, along with financial globalization step speeding up, people may meet many unexceptional questions in the financial domain. Especially in our country, as a result of the financial omni-directional foreign opening, China had to fulfill commitment entering into the WTO according to the agreement from December 11, 2006, Chinese banks will compete dramatically with foreign banks, the new market competition pattern gradually will gradually form. Facing foreign banks being eager to try, China is also positively reforming the financial system, diligently making the modern financial system, improving the domestic bank the management and the financial supervision before foreign banks entering into China. .Chapter 2 is to study international banking regulation cooperation with the innovation under financial globalization, This part mainly elaborates financial supervision innovation on the condition of financial globalization as well as content and innovation tendency of international banking supervision; and points out the necessity content characteristics and tendency of banking supervision cooperation with innovation.Chapter 3 analyze developing situations and existing questions in Chinese banking supervision system, and mainly elaborated existing questions: ideas and behavior lag; potency not being formed; legal construction backwardness; excessive administrative intervention as well as lacking of the international cooperation in the banking supervising and managing;Chapter 4 proposes measures and the future plans under the financial globalization which Chinese banking supervising authority should take: strengthening construction of law laws and regulations system, the attenuating administration control, the establishing the gauge risk management mechanism, the implementing financial organizations market withdrawal mechanism and strengthening international cooperation and so on; Facing the financial globalization, the author proposed the tentative plans on goal, pattern, way and method of the financial supervision.