A Research On Banking Antitrust Regulation In The Age Of The Internet

Banking is one of special industries, which is related to the financial security and stability our country, and has been under strict management and control. At present, our country has been on the legal nature of the banking financial institutions, formed in the five big state-owned commercial Banks as the main body, other banking financial institutions coexist of multi-level system. Although the market-oriented reform of our country banking industry has achieved great results, but the banking monopoly problem of the healthy and rapid economic development of our country has always been a big obstacle. The advantaged position of state-owned commercial Banks, the polarization of the competitive landscape, banking profits and serious administrative intervention, etc., not only contained the innovation and development of the industry itself, but also had great harm to our country economy overall.The government work report of the “Two Conferences” in 2015 put forward the concept of "Internet +" for the first time. This is an unprecedented height, which makes new industries and new forms become strategic high ground in the competitive landscape. With the proceeding of the "Internet +" plan, the cloud computing, big data and the mobile Internet grew quickly. They have shaped an Internet finance power that cannot be neglected. Taking advantage of the Internet, they try to compete with the traditional banking. And the traditional banking begins to make use of the Internet as a counterattack. In this process, a lot of problems have risen. The problem of effective competition pattern, the problem of administrative monopoly and the problem of monopoly restriction mechanism are most outstanding. This paper is based on these three problems. Main points are as follows: First, the rapid growth of Internet finance has given a great impact on the traditional competition pattern of the banking sector and may help it to change into a more effective one. Second, both Internet finance and the traditional banking make use of the Internet. But their competition still stays in the red sea, not the blue ocean. There is still a lack of creativity. Thirdly, Internet finance not only improves the traditional banking monopoly pattern, but also increases its market power. Therefore, the law should foresee the possible formation of another monopoly and take precautionary measures. Fourthly, administrative monopoly is still the main theme of the monopoly in the banking sector. It is partly because of the industry protection from CBRC, such as some restrictions on the Internet finance. But the primary cause is the lack of a new relationship between banks and enterprises in our country. The fifth, to solve the problem of banking antitrust, we must straighten out the relations among the China Banking Regulatory Commission, the anti-monopoly coordination mechanism, and the anti-monopoly law enforcement agency. Try to establish and improve self-interest relief system such as the private antitrust litigation. The sixth, banking monopoly regulation cannot just rely on the administrative and judicial power. It also needs to introduce the market restraint mechanism, to keep the self-interest relief channels open and to fully control the banking industry by use of several methods like the Internet. Only in this way can we thoroughly prevent the formation or deteriorating of the monopoly.This paper’s research ideas and research framework are as follows: Part I: research foundation. This paper re-examines several relative concepts about the monopoly of banking from the perspective of Internet finance, and finds out their particularity. Try to reshape the competitive landscape of China’s banking industry from this new perspective. The author clarifies the foundation of this process from two points. The first is the status quo of the traditional banking industry. The second is the convergence between the traditional banks and Internet finance. This paper further discusses the possible path and attempts that can form an effective banking market in Internet era. Part Ⅱ: the research path, on the macro, base on the study of the present situation in our country banking monopoly, reference to the United States, Japan, the European Union’s banking monopoly regulation experience, mainly includes two aspects of legal regulation and institutional regulation of content; On the micro, expand the research of he banking monopoly regulation through the three paths, first of all, the market access regulation, this paper introduces the introduction of market classification licensing, standardization of entering the market conditions of foreign Banks, to reduce the barriers of private bank to entry; Secondly, the market structure regulation, mainly establish the centralized regulation entities standard and small and medium-sized bank concentration regulation; Finally, special subject regulation, respectively from the third-party payment platform of antitrust regulation, the antitrust regulation of P2 P network to borrow, the raise pattern of antitrust regulation three aspects research. PartⅢ :the conclusion and suggestion of the research. This part expounds some countermeasures and improvements for the age of the internet banking antitrust regulation from three angles. First of all, we should perfect the system of banking antitrust regulation by making a special banking anti-monopoly law norms and strict definition of relevant market. Secondly, perfect our country banking antitrust regulation authority and coordinating the relationship between the two. Finally, establishing and improving the environmental constraint mechanism of our country banking antitrust, and establishing new relationship between banking and the government to improve the administrative environment, and introducing the theory of market discipline to improve the market environment.