A Comparative Study On The Substantive Condition Of Foreign Capital Access In BRICS Banking Sector

BRICS have established a bank-centered with other financial institutions category diversified development financial institution system. The comprehensive strength of BRICS has significantly increased, service capacity has gradually improved, asset quality has been enhanced, international influence has been gradually upgrading. Under the impact of financial globalization, establishment of the legal system of banking market access plays an important role in the development of banking area and preventing financial risks. Research on access for foreign banks is gradually increasing, but there is no comparative studies on BRICS foreign banks access conditions, this paper will make comparative study on substantive conditions of foreign capital access in BRICS banking sector, to fill gaps in the research of legal issues on substantive conditions of foreign capital access in BRICS banking sector.This article will make comparative analysis on legal rules of financial service in WTO, foreign capital access in banking sector in regional trade system and domestic legal system of BRICS, points out that the problems of legal system of foreign capital access in BRICS banking Sector, seek ways to coordinate international and domestic law, and lay the foundation for further development of bank trade services in BRICS.Besides the introduction and conclusion, the whole paper is divided into four parts:The first part mainly expounds foreign banks access rules concerning substantive conditions of the law in China, India, Russia, Brazil and South Africa, points out the difference on foreign capital access of substantive conditions in BRICS banking area, proposes that the countries which are weak on the regulation of the substantive condition of foreign captain access should learn from the stronger ones.The second part mainly talks on the difference and problems of the banking market access from three aspects, they are commitments under the WTO system, commitments under system of regional trade. The part also puts forward methods to coordinate the international law about foreign capital access in BRICS banking sector, the ways of coordination mainly concerns that BRICS countries should sign a trade agreement on banking services and establish a unified system of market access among BRICS.The third part respectively describes domestic law of the substantive condition of foreign capital access in BRICS banking sector from four aspects, subject qualification, registered capital, scope of business. This part points out that the difference and problems existing in domestic law of the BRICS countries in substantive conditions of foreign capital access. The problems mainly concerns difference in national security standards, individual state regulations for substantive conditions of foreign capital access in banking area are not comprehensive, most countries are too restrictive in the qualification, registered capital, restrictions on foreign ownership and business scope. This part also puts forwards the methods to coordinate domestic law about substantive condition of foreign capital access in BRICS banking sector, the ways to coordinate the problems are BRICS should clear national safety standard, establish the relevant provisions and improve the legislation.The fourth part puts forwards proposals to coordinate law about substantive condition of foreign capital access in BRICS banking sector based on the advantages and disadvantages of each country from the aspect of qualification, registered capital, foreign ownership and business scope.