Research On Legal System Of Regulation Over Financial Leasing

In recent years,financial leasing market becomes more and more popular all around the world,the numbers of financial lease corporations and the scale of such business both grow rapidly.After America,China has now become the world's second largest financial leasing market,financial leasing industry is experiencing its golden period of development.However,it is noteworthy that along with the rapid development of financial leasing,the regulatory situation which is called “multiple supervision,multiple approval” has existed in a way for a long time in China,and is always being criticized by the academia and industry.To formulate a scientific and reasonable regulation system over financial leasing is in its urgent need.I will follow the following lines of thought to consider the legal system of regulation over financial leasing: firstly,I will work out the concept and the nature of financial leasing,think about whether it is financial or commercial,and then answer some basic questions such as whether financial leasing needs regulating and the choice of regulatory modes.Secondly,I will analyze different kinds of regulation mode over financial leasing,and find out some experience worth learning.Moreover,combined with the practice of China's regulation over financial leasing,I will make a right choice for China's regulation mode over financial leasing.At last,according to the choosing regulation mode,I will analyze the status quo of legal system of regulation over financial leasing and its deficiencies in order to come up with some solutions.In addition to introduction and conclusion,this paper is divided into three parts as below:Part ?: Analysis of Financial Leasing and Regulation over Financial Leasing.First of all,this part makes a brief overview of how financial leasing develops in the world,especially in China,and then summarizes the concept and essence of financial leasing.Then,combined with the practical development of China's financial leasing market,this part illustrates the necessity of regulation over financial leasing by introducing two basic theories: market failure and macro-control by government.At last,this part illustrates the specificity of regulation on financial leasing on the base of the risk of financial leasing.Part ?: Choosing China's regulatory mode on Financial Leasing.Regulatory modes could be classified according to different standards.The first standard is the regulation path which classifies regulatory modes into institutional regulation and functional regulation;the second standard is the degree of regulation which classifies regulatory modes into market regulation,moderate regulation,and strict regulation.This part introduces,analyzes,and compares with America,Germany,and South Korea's regulation mode over financial leasing,and extracts the inspiration among these practice.Then,based on such inspiration,this part does a normative analysis on China's regulation mode over financial leasing,and under the principles of moderate regulation and prudential regulation,this part proposes some advice on choosing China's regulatory mode over financial leasing.Part ?: Consummating the Important Parts of China's Legal System of Regulation over Financial Leasing.Having established the regulatory mode over financial leasing as a basic direction,this part will examine the specific institutional arrangements of supervision over financial leasing,find some problems according to the chosen regulatory mode over financial leasing,and propose some solutions.The first solution is to properly make clear the essence of financial leasing and based on such understanding,to transform institutional regulation into functional regulation.The second solution is to eliminate unfair discrimination over different kinds of financial lease corporations according to the spirits of the Third Plenary Session of the 18 th Central Committee of the CPC.The third is to simplify the proactive regulation over market access system,and strengthen the regulation in process and afterwards.The forth is to establish the regulation mechanism inside the financial leasing industry at the same time.As a well-developed regulation system itself cannot support the development of the whole financial leasing industry,so the fifth solution is to consummate some correlative systems such as accounting system.The sixth solution is to promote specific legislation over financial leasing along with other laws as supplement,and then provide a complete legal basis for the legal system of regulation over financial leasing.