| Since 1970's, a wave of innovation concerning financial globalization and deregulation has swept the world. On November 4th , 1999, the US congress signed the Law of Financial Service Modernization, which indicated that the pioneer of separate run abolished this regulation lasting for more than sixty years in US. Before this, the United Kingdom, Japan and Taiwan had experienced "Big Bang"——braking down their separate run. All of these have forecast that the mixture run, namely the universal banking system, has become the mainstream of financial operating field.After China's entry into WTO, the Chinese financial institutions are destined to participate in the global economy and to face the keen competition from the "financial conglomerate" of the western developed countries. Against this background, is it still possible for the Chinese financial institutions to adhere to the separate run firmly? How can our weak financial institutions, especially the state-owned banks, compete with the strong financial conglomerate consisting of banks, security firms and insurance companies. To survive in the international competition, our financial institutions should be reformed, transforming form the separate run to the mixture run. Considering the realities of our country and absorbing the advanced foreign experiences, how to choose a feasible mixture run mode,how to select a reasonable evolutionary road and how to control the possible risks of mixture run for the Chinese financial institutions, especially for the banks, are the main problems that this paper aims probe into and search out solutions to.The paper breaks into four chapters.Chapter One——"the theory and mode of mixture run"Firstly, the paper analyses the relative reasons for the wave concerning mixture run in banking industry. After that it reviews the main theories explaining the mixture run and comes to a conclusion that the mixture run has become the mainstream of financial field. Secondly, it introduces three important modes of mixture run and compares them. Thirdly, the paper introduces the evolutionary history of banking supervision and the establishing course of mixture run in US, which provide the following parts with a feasible analyzing base. Chapter Two——"the situation and mode selection of mixture run in Chinese banking industry"In this chapter, with reviewing the history of the separate run in China, the paper points out that the current banking operation system——separate run has brought many negative effects on Chinese banking industry although it has contributions to control financial risks. Afterwards, the paper presents that the mixture run has become an inevitable trend for the Chinese banking industry because of the great internal pressures and the external fierce competitions after China's entry into WTO. What we should do is to choose a feasible mixture run mode to meet the banking industry' urgent demand. So the paper analyzes the characteristics of three leading mixture run modes in Germany, the United States and the United Kingdom respectively, and then comes to the conclusion that the financial holding company (the mode of US) is the best choice in terms of Chinese actualities, which can be compatible with financial supervision level and banking management abilities in China.Chapter Three——"the most feasible choice for Chinese banking industry's transforming into mixture run—Financial Holding Company"In this chapter, by analyzing the management capabilities of banking industry, the standardization of financial rules and regulations and the supervision level of financial authorities, section one puts forward that the bank should be the reasonable principal part for the establishment offinancial holding company in China. Section two focuses on the further improvement and perfection in financial laws and statutes because we detect that mature financial laws are the indispensable safeguard for the peaceful transition form separate run to mixture run from western countries' experiences.I... |
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