Development And Supervision Of Financial Holding Companies International Comparative Studies

Since the 1970s, the international financial industry has taken place the most profound transformation throughout history, while the financial institution functions and customer demands have changed a lot. Each kind of financial institution started to permeate toward other financial service domain, so that the boundary among financial industry was increasingly fuzzy and the financial function gradually tended to inosculate. Industrialized countries such as America, England and Japan turned to mixed operation in the form of financial holding company in the mid or late last century. Under the background of financial globalization and internationalization, the tendency of international mixed operation had profound influence upon financial system reform in China. The development and research of financial institution in developed countries indicated that the financial holding company had certain ascendancies in the aspects of economy of scale, synergies, risk decentralization and so on, which provided the favorable model for China's financial holding companies.At present, the development of domestic financial holding company is still at the exploration stage. The financial institutions, which have somniferous organization structure, include holding companies of finance such as CITIC Group and Ever bright Group, as well as holding companies of enterprise group such as Shandong electric power group and Haier group. These existent financial holding companies are not standard, so that the related restriction and supervision systems need to be researched as soon as possible. Otherwise, persisting divided operation in name but giving loose to mixed operation in fact will result in huge hidden trouble of financial risk, since the three supervising departments of banking, securities and insurance are unable to communicate and coordinate effectively.This thesis does comparison research on financial holding companies of several typical countries, and moreover, proposes countermeasures and suggestions to the development and supervision of financial holding companies in China combining the present situation of domestic financial holding companies. The thesis is divided into three parts roughly: The first part, that is the first chapter, is the outline part of financial holding company. It introduces the concept, pattern, characteristics as well as emergence and development background and economic effect analysis of financial holding company. The second part of this thesis is about comparison research on the overseas financial holding companies, hereinto, the second chapter studies the pattern and development of America, England and Japan; then the third chapter focuses on the supervision situation of financial holding company. Simultaneously, this part aims at analyzing the common grounds of financial holding company practice and supervision of these three typical countries, in order to give enlightenment to our finance holding company development. The last part of this thesis is the investigation on domestic financial holding companies. The fourth chapter carries on the analysis to the present situation of financial holding company development in China. The existing several kind of financial holding companies all have some problems, thereby how to establish a financial holding company pattern which belongs to China as well as how to perfect the development of our financial holding company is one of discussion key of this thesis. Finally, the fifth chapter is about financial holding company supervision in China. The supervision legislation of financial holding company in our country is still relatively backward, while the supervision system also has certain problems. Although the banking legal framework of China reserves the legal space to mixed operation, there is still not a special law to make standard to the financial holding companies. This thesis puts forward the proposals on financial supervision legislation, pattern, framework and system of our country through research and analysis, which be hoped to make for successful establishment of China's financial holding companies.