Research On The Green Financial Legal System

As a kind of public goods, environmental protection has a strong positive externality that individuals is not willing to provide, and the market mechanism cannot work well. It is the only way to force the market subjects and individual to protect environment by the government making the mandatory law or using certain economic means. The report of The CPC17th National Congress pointed out that Promote a conservation culture by basically forming an energy-efficient and resource-efficient and environment-friendly structure of industries, pattern of growth and mode of consumption. We will have a large-scale circular economy and considerably increase the proportion of renewable energy sources in total energy consumption. The discharge of major pollutants will be brought under effective control and the ecological and environmental quality will improve notably. Awareness of conservation will be firmly established in the whole of society. And it clearly demands establishing a conductive scientific development taxation system and improving the compensation systems for use of resources and ecological environment compensation mechanism, to promote the economic growth of the green through the finance and tax policies has become the consensus of the academic circles.But, now the research of academic circles for the green financial focuses on the policy’s choice and effect. It did not pay attention to the running mechanism of the policy, the importance of financial power restriction, and so on. This article discusses the theoretical basis of the green financial system construction from the dual perspective of the economics and law. And it emphatically discusses the green fiscal system specific architecture from the perspective of the system construction, fiscal policy mechanism running. Specific structure as follows:The first part of the article is the basic theory about the legal system off the green finance, the article states its point from the origin of the green finance, defines the connotation of green financial from the view of law, and figures out that the green finance should be a part of macroeconomic regulation and a fiscal policy system which is systematism and institutionalised, and expound theory basis of the construction of the regulations about the green finance in the views of the "market failure" of economics theory and financial law basic principles of law separately.In the second part, the author discusses the experience and lessons from the construction of environmental tax system abroad, and points out the shortage of the green tax system in our country, which contains:the low degree of the greening, the adjustment effect of the tax rate and imperfection of the regulation in the cost management. Based on the discussion above, we can find ways of reform the existing tax system and collect the tax of environmental protection to building the greening tax system, and change pollution discharge fees with the pollution discharge tax, and the application of standardized management in the discharge fees of other kinds of pollution.In the third part, we can draw lessons from the experience of green financial expenditure system in developed countries, pointing out that our country needs to perfect the green financial expenditure system from the aspects of establishing the system of Green financial budget expenditure, a special account in the environmental expenditure budget and the improvement of regulation about the government procurement.In the fourth part, because the functions of the green financial supervision system is to make sure that finance policy works properly, put forward the working process containing examination, investigation, processing, and the construction of information feedback system of the green financial supervision and the responsibility and authority of supervision institutions.