Study On Cross-strait Financial Cooperation Legal Issues Of The Post-ECFA Era

Before the signing of the ECFA, the financial cooperation between the two sidesremains in the stage of functional cooperation. The signing of ECFA (Cross-StraitEconomic Cooperation Framework Agreement), MOU (Cross-Strait Cooperation inFinancial Regulation Memorandum of Understanding) and CSSTA (Cross-Strait ServiceTrade Agreement) is an important step in the process of normalizing, institutionalizingand liberalizing. However, there still exist many problems in the construction of thecross-strait financial cooperation legal system at present. It is of great urgency toconstruct the cross-strait financial cooperation legal system.In term of legal system, the so-called post-ECFA era is just a time fragment ofrecognition, and from this perspective we could observe the focus of legal regulationand significance of cross-strait financial operations. It will be the entry point of thisthesis. This thesis focus on the theoretical study of cross-strait financial cooperationlegal system, and combined with the Fujian-Taiwan financial cooperation legal systemand practical experience for the empirical case, striving to come up with goodsuggestions to construct and improve cross-strait financial cooperation legal system.Besides preface and conclusion, this context consists of five chapters, from chapter2to chapter6.Chapter II introduces the concept and the basis of cross-strait financial cooperationlegal system. This chapter analyses the concept of cross-strait financial cooperationlegal system, financial cooperation and financial legal system. And the background andnecessity of cross-strait financial cooperation legal system is also be discussed in thischapter.Chapter III set ECFA as a time point to examine the practice of cross-straitfinancial cooperation legal system. Firstly this chapter introduces the situation ofcross-strait financial cooperation legal system before the ECFA era. And it is followedby the introduction of the status of cross-strait financial cooperation legal system afterthe signing of the ECFA, specifically discusses the content of financial cooperation onthe agreements that signed between mainland and Taiwan.Chapter IV analyses the problems of cross-strait financial cooperation legal system,from the perspective of legal system, the mutual offices establishment and thecooperation on financial supervision. Because of the lack of specialized and authorized regulations on cross-strait financial cooperation, the existing cross-strait financialcooperation legal system has some defects. There are also limitations and hindrances onthe mutual offices establishment, and improvement can be made on financialsupervision cooperation.Chapter V discusses the experience of construction on financial cooperation legalsystem under CEPA circumstance. Firstly this chapter analyzes general situation offinancial cooperation between the mainland, Hong Kong and Macao under CEPAcircumstance and the benefit they get from CEPA. Secondly this chapter specificallyaddresses the experience of financial cooperation legal system under CEPAcircumstance.Chapter VI proposes the countermeasures and improvement towards theconstruction of cross-strait financial cooperation legal system under ECFA: improvingthe laws and regulations of cross-strait financial cooperation step-by-step; constructinga legal system of cross-strait cooperation in financial services sector, including banking,insurance and securities industries; furthering the progressive harmonization withunified financial supervision standards on the cooperation of financial supervisionbetween the two sides; strengthening the cooperation on financial supervisoryinstitution, and furthering cooperation in the regulatory technical side. At the same timewe should learn the experience from CEPA, and establish the practice of cross-straitfinancial cooperation legal system in Fujian Province as a pilot pioneer.