Research On The Legal System Of Financial Supervision In China's Free Trade Zone

In March,2018,the Report on the work of the Government proposed the clear requirements to reform and improve financial system as well as opening-up.It regarded opening up policy and financial risk forestalling as both important matters,and emphasized the coordination between financial opening-up and financial regulation.The pilot free trade zones have been established as forerunners.The financial innovative business have rapidly developed while its relevant legal systems have been relatively falling behind.Therefore,it is significant to systematically analyze the relevant legal systems of financial regulations in pilot free trade zones for its establishment and improvement,so each regional financial reform may be ensured by the relevant laws.This paper aims to identify and analyze problems on the basis of the content mentioned above,and propose the corresponding suggestions.Chapter 1.Introduction.Analyze the research significance and determine the research object as well as scope of the study from perspectives of theory and practice.Propose the research content on the basis of relevant research review.Chapter 2.Overview of the legal system of free trade zone and financial supervision.This chapter aims to elaborate the relevant concepts of free trade zones and financial regulation,and focuses on the legal nature of pilot free trade zones,its developing progress of financial regulation and the importance of legal assurance to final regulation in China.Moreover,this chapter illustrates the requirements of the financial innovation to financial regulation system.Chapter 3.The financial regulation system in the typical regions of free trade zone.This chapter elaborates the relevant financial regulation conditions and legal systems in Hong Kong free trade port and Singapore free trade zone,and mentions some suggestions for the construction of free trade zone in China,for instance,the establishment of a unified legal system and financial regulation institutes.Chapter 4.The legal status and problems of financial supervision in free trade zone in China.In this chapter,first of all,some current relevant laws and regulations in some of free trade zones in China are listed,and some deficiencies are discovered.For instance,financial regulation legislation falls behind financial innovation,and vertical financial regulation systems possess legislative limitations,moreover,the financial risk forestalling mechanism is not perfect and some loopholes are found in the separate supervision.Chapter 5.Suggestions for improving the financial regulation system in the pilot free trade zone in China.According to the issues raised in the previous chapter,this chapter proposes suggestions respectively,which including that improvement of financial regulation system in the pilot free trade zone,legislative relationship division between the central and local authorities in terms of financial authority,establishment of the macro-prudential regulation and establishment of comprehensive financial regulation agencies.It is hope to propose solutions to actually solve problems existing in financial regulation at the legal level and constantly improve the legal system.