Mode Of Operation Of The Financial Industry: The Evolution Of The United States And China's Choice

The very reason why the thesis compares the China's financial industry operation model with that of the America's is that as a developed market-economy country, America has firstly carried out the separated operation over the financial industry, which supplies many experiences and lessons to Chinese financial industry during the transition period.In the first part, based on the clue of financial laws, the thesis reviews the historic development of America financial industry beginning from 1933,After the operation model and supervision model are studied, the positive analysis on the reasons why the supervision authority carried out the strict separated operation policy is made, the result of which shows that it was necessary to adopt the separated operation in that year, but there existed the excessive reaction to the financial crisis.In the second part, from the view of main body of financial operation at microcosmic level, from the view of the "moral hazard" of financial industry at moderate level and from the view of financial institutional reform at macroscopic level, the theoretical explanation is given on the common tendency of mixed operation among the international financial in.In the third part, on the basis of the simple revision of the development of Chinese financial industry, the comparative analysis between the U.S.A and China from diverse angels is made. Combined with the outside and inside surroundings of financial industry in China, the author points out the inevitability of mixed operation during the course of financial industry development.In the last part, after eliminating other possibilities of mixed operation model at present in China, the author argues that the pure financial holding company is the best choice according china's realities, and puts forward the concrete methods on how to set up and supervision the pure financial holding company.