Thoughts Of Improving Dispute Negotiation Mechanism Of Banking Sector

The Subprime mortgage crisis which started in the United States, became global financial crisis gradually and the world economic is still in the middle of restoration stage. In order to promote the economic rebound and recovery, nationwide discussing and rethinking of the economy structure, regulatory and supervisory gap, the economic efficiency and safety started from post-financial-crisis ear. On October 2011, the G20 Summit passed High-level Principles on Financial Consumer Protection drew up by the OECD. The multi-level dispute resolution mechanism which discussed in this document is recognized as major objective in the industry.Therefore, after studying of the concept, characteristic and value of the Alternative Dispute Resolution(ADR), analyzing the status quo of China’s banking financial dispute resolution mechanism and using the practical experience of other countries and areas as reference, the author attempted to present several suggestions in regard to improving dispute negotiation mechanism of banking sector.Firstly, starting form the origin of the ADR mechanism, the essay addressed the concept, characteristic and value of ADR.Secondly, the author analyzed the status quo of China’s banking financial dispute resolution mechanism. The essay focused on the advantages and disadvantages of the current situation, for instance, the lengthy duration of litigation, high cost, the lack of flexibility, etc.Thirdly, the author addressed the necessity of improving banking financial dispute resolution(ADR system), for instance, the advantages of ADR system, the particularity of financial dispute resolution, the necessity of improving ADR system, etc.Forthly, in order to improve dispute negotiation mechanismof banking sector in our country, using England and Hong Kong in Common Law system, Japan in Civil Law system, as representatives, the author discussed the creation, characteristic and practical experiences of ADR system in England, Japan and China.Fifthly, the essay addressed the suggestions of improving methods, for instance, promoting legislation, strengthening regulation, completing regulatory and supervision system and financial services system, and introducing third party mediation, etc.