China's Financial Industry Entry Barriers And Access Regulation Reform Path Research

Along with the advancement of China's financial system reform, the problems gradually expose, including ‘low competition of the banking industry' ‘the high cost of corporate finance' ‘high barriers to entry in securities market' ‘insufficient innovation ability of the insurance product. In the face of these problems, the dilemma of choice occurs between ‘government regulation' and ‘market reform' for financial system reform.Therefore, the problem of better playing the function of government regulation, deserves further research and thinking.Based on absorbing the domestic and foreign scholars' research achievements, the research scope of this paper is focused on the field of China's financial industry admittance regulation and it's reforms.The basic analytical method of this paper is as follows:from theory to practice,from general to specific,the combination of normative analysis and positive analysis.The paper centers on the questions of access to regulatory policy and its effects on the performance of financial markets, to provide the theory and policy for the reform of Chinese financial system regulation.The basic content and logic structure of the paper contains in this paper: Chapter 1,introduction to relevant concepts, the research literature review, research ideas and methods, the innovation points and disadvantages. Chapter 2, general theory analysis of the financial industry barriers to entry and admittance regulation, mainly studying the types and characteristics of the financial industry barriers to entry and access regulation policy impact on market performance.The main point is as follows: in the early part of the social and economic development, the institutional barriers to entry constitutes the main form of a country's financial industry barriers to entry. Through the agency access and ownership access restrictions, the government affects the market structure and ownership structure of the domestic financial market, which finally impact the performance level of the country's financial markets. Chapter 3, the empirical analysis of financial industry barriers to entry and access supervision, the main task is as follows: through analysis of data and relativemodels, we respectively research the influence of access regulation policy to the market structure and market performance in Chinese banking, insurance, securities. We draw the following conclusions that the market concentration of China's financial industry is on the high side, low efficiency monopoly problem is outstanding, the financial capital efficiency is low, and the lack of financial products innovation, which is closely related to the financial industry admittance regulation policy. Chapter 4, the analysis of financial industry admittance regulation in some foreign countries, we mainly analyze the evolution history of financial industry admittance regulation policy in some developed countries such as the United States, France, Japan, as well as some developing countries such as the South Korea, India and Turkey. We find that the level of a country's financial industry admittance regulation should be closely related to it's level of economic development and it's financial development mode. Chapter 5, the research conclusion and reform measures, the center of this chapter is to study and explore the basic route of China's financial regulatory reform.The basic idea is as follows:we should review the admittance regulation function,and design access supervision system novelty.The basic idea of regulatory reform in Chinese financial industry is as follows: Firstly,the access regulation value of financial market should be ‘Competition first, balance equity', on the premise of ensuring financial security, we should pay more attention to improve the overall competitiveness of the financial industry. Secondly, we should restore the regulatory function as ‘effective control incentive compatibility', encouraging the private capital to invest in the domestic financial market; Thirdly, the admittance regulation strategy should be ‘open type rationalization type', guarding against the foreign capital impact on the domestic financial market through reasonable and effective controls.