China Policy And Financial Study

Since our first policy-oriented financial institution set up in 1994, it has been morethan 10 years. But it is too short compare with the history of that in foreign. In this decade,Chinese policy-oriented finance has played an irreplaceable role in adjustment in thestructure of productivity, optimizing the allocation of resources, for the market economyerrors, promote the coordinated development of national economic stability, but also hasmany problems. Currently, China is in a crucial period of economic transition, the role ofpolicy-oriented finance must not be weakened, but should be further strengthened.Therefore, the author attempts to find out some specific measures for the healthydevelopment of Chinese policy-oriented finance.1. Research methodology(1) Combination of theory with practice. In-depth examination of the policy-orientedfinancial theory, closely linked to the status and the exceptional environment of ours, Papertry to explore the reasonable way for the healthy development of Chinese policy-orientedfinance.(2) Combination of comparative analysis and empirical. Paper comparepolicy-oriented finance of Japanese with that of Korea, compare policy-oriented financeof our country with foreign policy-oriented finance, then summed up the experience anddevelopment trends of Chinese policy-oriented finance ,supply ideas for the healthydevelopment of policy-oriented finance.(3) Combination of experience induces and the logic deduce. Successful experienceand the development trend of foreign policy-oriented finance use for reference. Base on thesummarization of our develop process, the position and the function of our policy-orientedfinance, paper put forward a counterpane for our country policy-oriented finance's healthdevelopment according to the general regulation of the economic and financialdevelopment.Objectively speaking, it try best to use relative results that not only those directlyanalysis of the theory and methods of policy-oriented finance, including all relatedeconomics, finance and management studies and theoretical foundation and fundamentalmethods. But as the limitations of knowledge, it is impossible to mention specialcontribution of each scholar, experts, and might have come to ignore the results.2. Content and structureThe paper comprises five chapters:Introduction, in a simple definition of policy-oriented finance, this chapter summarizerelated theories and literatures of policy-oriented finance from theoretical basis for existing,meaning and function, problems and improvement.First chapter: theoretical basis for existing. Effectiveness of resource allocation andrationality Contradiction, "Matai effect" theory, information economics, the theory thatMarx's reproduction policy think that market failures is the existing basis forpolicy-oriented finance. But the presence of policy-oriented finance is not only because ofthe existence of market failures, but also the failure of government.Second chapter: practices and experiences of the foreign policy-oriented finance. Thepaper compare policy-oriented finance of Japan with Korea's from structure, operation,including sources of funding, use of funds and supervision, then analyze theircharacteristics and problems from the legal establishment, government support,supervision and self-development, finally, summed up the successful experience abroad forthe healthy development of Chinese policy-oriented finance.Third chapter: the current situation and problems of Chinese policy-oriented finance.Since main form of Chinese policy-oriented finance is three policy-oriented banks, so thischapter is a brief overview of the China Development Bank, The Import-Export Bank ofChina, Agricultural Development Bank of China from. It summed up the current problemsof our policy-oriented finance: is lack of legal grounds, insufficiency of Government'ssupport, is lack of policy-oriented financial institutions, unhealthiness of institutions.Fourth Chapter : countermeasures of the healthy development of Chinesepolicy-oriented finance. It is the top priority. My policy-oriented financial system is along-standing arrangement. After the consideration of the development of ourpolicy-oriented finance, the paper think that the system and institution-building is its newresponsibilities, "policy" embodied in the use of market and the choice of financing tools,external conditions of policy bank's revolution exist. As for the long-standing ofpolicy-oriented finance, for its normal function, it is necessary to improve governmentpolicy on financial supervision, set up a strong support, constraints and evaluationmechanisms, but also to establish the small-middle corporation policy-oriented financialinstitutions, housing policy-oriented financial institutions and regional developmentpolicy-oriented financial institutions to improve current system, the existingpolicy-oriented financial institutions should deepen the reform to perfect themselves.3. Innovation and further research for needInnovation: (1) From the perspective of market failure can be a very goodexplanation of the need for government intervention in economic policy, but can notdemonstrate the advantage of policy-oriented finance. It is indirect intervention. Marketexist market failures and government failures at the same time, Policy-oriented financeexist objectively because that it can remedy two kinds of the failure. (2) Policy-orientedfinancial institutions can broaden the fund-raising channels through initiative liabilities,such as deposits securitization. (3) Policy-oriented financial institutions play a unique rolebecause of Chinese special conditions, the Chinese government's initiative economicdevelopment policy make the function of policy-oriented financial institutions broader,longer, larger, the Chinese government should establish performance evaluation systemand incentive and constraint mechanism for policy-oriented financial institutions.Policy-oriented financial institutions should adapt to the new situation, accelerate businesstransformation, and conduct commercial business and commercial operating in the marketcompetition.Further research for need: As limitation of time, data and my capability, the paperhave the following areas need to be further study : (1) Policy-oriented financial systems ofdifferent countries;(2)Financing tools, product design and business innovation ofpolicy-oriented financial institutions;(3) Comparative analysis of policy-oriented financeand development-oriented finance.