The Harding Of Soft Law In International Finance Field

In the end of 20th century, financial crisis emerged and spreader over Latin America,Southeast Asia, Russia,America and the whole financial field. International financial system was back against the wall. American subprime mortgage crisis evolved into a real global financial crisis in 2008. This crisis made more and more nations realize current international financial issue can not be neglected and financial reform is imperative. In this conditions, the effect of soft international finance law becomes more and more important. It was on the contrary to hard laws. In the development process of soft laws, every nations' acceptance to soft laws improved rapidly, which made it implement extensively. International soft laws was not compulsive, it implemented successfully because of it. With the increase number of soft laws introduces, dispute settlement mechanism and supervision system appeared. International tended to choose soft laws system in face of some thorny problems. Flexibility of international financial soft laws enhanced implementation effect. One part evolved to be international treaties,another part was turned into domestic law by some countries. This is the process of soft laws hardening. The meaning of soft laws hardening is to enhance the formality and stationarity of treaty. In the process of hardening, we can see that many international main body such as EU, Basel commission, FATF and FSB took several steps to promote soft laws hardened.This paper makes research to soft laws hardening in four parts. The first part is the introduction of soft laws' background,the concept of harding. This part states problems in nowadays international financial field. There are many imperfections in hard laws so soft laws was born at the right moment. And after this, the paper writes the harding concept. The second part analyzes the methods to realize hardening. One is to form new international treaty. Another is translated into domestic law or accepted by domestic supervision department or approves by supervision department. The third part is the comment of the harding soft laws. After recognizing developmental barrier, this part analyses briefly its development direction in future. The soft law may be compatible with hard law or are mutually independent and have their own development space. The last part lists the situation of "Basel Accord ?" and "Equator Principles" in China.Contrast our treaties with international financial body rule to conclude issues of our financial soft laws hardening and final the development direction.