Financial Globalization And The Legal System Of China's Foreign Exchange Management Study

The globalization of economy requires our financial reform to transit to the financial liberalization. The financial liberalization is the premise of financial globalization. The reform of system of foreign exchange management is a important part of reform of financial system. And the degree of tightness of foreign exchange management is also a important factor influencing the trade conditions.Our system of foreign exchange management has almost realized current account's convertibility in 1994.But there is still distance between our country and developed countries, because capital account which is convertible in developed countries is still managed strictly in our country. If we want to realize capital account's convertibility gradually and orderly while ensuring the safe of our financial system, we need a healthy legal system of foreign exchange management as a safeguard. Considering that there are still many problems in our legal system of foreign exchange management such as insufficient authority, the distinction of international current definitions and standards, many content blanks and great administrative instrument, etc. Therefore, we shall understand fully the requirements of foreign exchange management and establish a systematic and scientific legal system in accordance with the requirements of time in order to put our foreign exchange management on the way of healthy development.