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Research On The Local Financial Supervision

Posted on:2014-12-12Degree:MasterType:Thesis
Country:ChinaCandidate:L ZhengFull Text:PDF
GTID:2296330467465136Subject:The constitution and administrative law
Abstract/Summary:PDF Full Text Request
From the90’s of the last century, state-owned financial institutions have played thedominant role, and implemented the unitary financial management system of “one bank andthree councils” in the supervision, the local government shall not intervene in financialmarkets, but need to assist in the central financial supervision departments to carry out thework owing to the need to maintain financial stability. With the development of marketeconomy and the innovation of financial organizations, some financial organizations and folkfinance of new type such as small loan companies, pawnbrokers, guarantee corporations,private capital management companies appear in the local level, making the localgovernment’s intervention in the financial management necessary and possible. On March282012, the State Council approved the establishment of Wenzhou financial comprehensiveReform Pilot Area, clearly incorporating “improve the local financial management system toprevent the emergence of vacuum supervision and prevent systematic risk and regional risk”and “clearly define the responsibility boundary of the management of the local finance,strengthen and implement the responsibility of the local government in disposing the financialrisk and maintaining the local financial stability” into the twelve tasks of Wenzhou “financialreform”, making the Wenzhou government obtain the new opportunity to improve the localfinancial management functions. In more than one year since the promotion of “financialreform”, Wenzhou has made enormous beneficial explorations in the local financialsupervision system, some of which are even the first in the country. In the meantime, theStanding Committee of Zhejiang Provincial People’s Congress carried out the first nationalfolk financing legislation for the experiment and experience in Wenzhou from the financialsupervision in the former period. The financial office in Wenzhou compiled the Regulationson the Management of Folk Financing in Wenzhou, Zhejiang Province, deliberated and passedby the Standing Committee of Zhejiang Provincial People’s Congress, which also avails itselfto make legislation review. The carding, position and improvement of the local financialsupervision system has become an important research topic in Wenzhou’s “financial reform”.
Keywords/Search Tags:Local Finance, Supervision, Improvement
PDF Full Text Request
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