Paper Market Development And Legal Countermeasures

The Bill Market is an essential part of the Currency Market, including the Commercial Bill Market and the Bank's Acceptance of Bill Market.To develop the Bill Market has great significance, the first, it correlates with the foundational status of the Currency Market; the second, it has relationship with the need of enterprise's financing; the third, the development of the Bill Market can't be separated from the foundation of the social credit system; the fourth, it is good to the Commercial Bank and the People's Bank of China; the fifth, it is the requirement of the reform of the financial system.In the countries where the market economy has been developed, the Bill Market is active, the civil and commercial laws which regulate the Bill Market are perfect to some extent. But the development of the Bill Market in our country is evidently slow, which can be reflected as the following: the Bill Market lacks the necessary self-development and self-improvement capacity; the Bill Market is divided into small parts; the risks is great but the profits is small; the marketize of interest rate is falling behind; the law system of the Bill Market is not perfect.Laws play an important role in the perfection, flourishment and healthy movement of the Bill Market: firstly, through the modification and improvement of the relative laws, we can promote the development of the Bank's Acceptance of Bill, the Commercial Bill and the Accommodation Bill, so as to rich and regulate the trading instruments of the Bill Market; secondly, through the modification of the bill law, we can accelerate the exchange of bills, .regulate the vocational work of Bill Purchasing and Forfeiting, so as to rich and regulate the pattern of the bill trading ; thirdly, through the modification and improvement of the relative laws, we can widen the scope of the vocational work of the People's Bank of China and the Commercial Bank, set up the bill self-improvement system, so as to rich and norm the main bodies of the Bill Market; fourthly, through legislation, we can control the risks of the Bill Market, promote the freedom of the interest rate hi the Bill Market, through strict enforcement of laws, we can ensure the healthy development of the Bill Market, so as to build and standardize the trading conditions of the Bill Market.