The Research On Coordination Mechanism Of China's Financial Supervision

In order to prevent financial risks,the financial industry have been supervised for a long time.But with the emergence of cross-industry financial services group,the traditional model of financial supervision encountered a serious challenge which made governments begin gradually to take coordination mechanism of financial supervision.The establishment of the China Banking Regulatory Commission in 2003 marked the formation of the current financial regulatory structure,and the coordination mechanism of financial supervision was also only at a preliminary stage of exploration.The coordination mechanism of the financial supervision refers to fully realize the effectiveness of financial supervision and achieve maximum efficiency of financial supervision,in the implementation process of financial supervision,the total institutional arrangements of communication between financial regulators and between financial regulators and the relevant government departments.China implements the system of separate management and separate supervision,and the financial mixed-business management occurs not long.The coordination mechanism of the financial supervision starts late and lacks of the complete institutional framework.The subject of financial supervision is not clear,and lacks of power restriction mechanism.The legal norms of regulatory coordination is inadequate and the mechanism of information exchange and sharing is deficient.Regulatory coordination level is single and there does not form a long-term coordination mechanism for the supervision.With financial innovation and the increases of cross-business there will be vacuum and repeat in the financial supervision.So the construcition of the coordination mechanism of financial supervision is very necessary.To establish and improve the coordination mechanism of China's financial supervision shuold proceed from our national conditions and learn the relevant legislation and practical experiences from foreign countries.According to the problems in the subject of coordination supervision,the legal system and the specific operation,we can set up a unified coordination mechanism of financial supervision whih responsible for monitoring the coordination,formulate a unified law that provides the coordination mechanism of financial supervision,improve the information communication and consultation mechanisms and expand the scope and layer of the coordination mechanism of financial supervision. So then we can give play to the effectiveness of the coordination mechanism of financial supervision completely and adequately,achieve maximum benefit of financial supervision and promote the development of financial industry safely and efficiently.