Research On The Model Construction Of Regulatory Sandbox In China

Regulatory Sandbox is an innovative operating mode of financial supervision,financial regulators are going to test the innovative features and risk factors of financial technology companies,timely adjust the regulatory scheme based on the feedback of test data,it can effectively control risk and promote financial innovation.Regulatory Sandbox pioneered by the Financial Conduct Authority,it has achieved outstanding results through continuously improve testing mechanism since its inception,and many countries and regions in the world have followed,such as Singapore,Australia,HK and Taiwan in China have been created each distinctive Regulatory Sandbox.China's financial technology innovations is striking,a number of innovative formats have represented the advanced level of the world at financial sector,like electronic payment,robo-adviser and P2P.Technology combines economic,China's "Internet+" model of economic development have been remaining steady advance under the world economy downward pressure.However,financial technology inherently evades supervision,at the same time,within the existing legal framework for financial supervision,separate and tighter supervision of financial regulation pattern appears to be lagging behind.In order to coordinate the contradictions between financial innovation and financial supervision in our country,it is necessary to create China's Regulatory Sandbox on the basis of extraterritorial experimental model of financial regulation.Based on the theme of "Research on the Model Construction of Regulatory Sandbox in Mainland China",this paper selects countries and regions with mature operation mode of extraterritorial Regulatory Sandbox to carry out in-depth analysis and research,including the UK,Singapore,Australia,HK and Taiwan in China,with emphasis on combing the operating mechanism and operating results of their Regulatory Sandboxes.This paper tries to demonstrate the feasibility and practical value of the operation mode of Regulatory Sandbox,analyzes the necessity and significance of adopting the Regulatory Sandbox mode in mainland China,explores the correct path of introducing Regulatory Sandbox mode in mainland China,and finally proposes the model structure suggestion of Regulatory Sandbox in mainland China on the basis of existing supervision experience.This paper is divided into six parts,the introduction mainly to explain the significance of this study,with expounds study background ideas and methods of the operation mode of Regulatory Sandbox.The second part mainly explains the basic concept and design characteristics of the study topic,analyzes the scientific and technological basis,internal logic and operation mode of the Regulatory Sandbox,and provides a reference premise for the construction of the inquiry mode below.The third part mainly summarizes the development context,system arrangement and operating results of the Regulatory Sandbox in the above countries and regions,and combs ideas of constructing the model of the Regulatory Sandbox.The Part IV makes a comparative analysis of the Regulatory Sandbox model in the above countries and regions,probes into the similarities and differences and characteristics of the operation mechanism of each Regulatory Sandbox,and selects a feasible reference paradigm for the construction of the model of Regulatory Sandbox in mainland China.The fifth part analyzes the necessity and feasibility of introducing Regulatory Sandbox in the light of the present situation and risk characteristics of financial technology in mainland China.The sixth part combines with China's original financial supervision system,advocates the change of traditional financial supervision concept,coordinates the relationship between supervision and innovation,introduces experimental financial supervision ideas,increases technical supervision tools and other methods,and finally comes up with linking the existing financial supervision laws in mainland China to the concept of Regulatory Sandbox.This paper adopts a variety of research methods:First,it's the method of literature research,through consulting the academic articles on the Regulatory Sandbox of domestic and foreign,analyzes the academic views and institutional suggestions on the supervision of the sandbox model from scholars in different fields,and provides theoretical reference for writing structure and analysis ideas of the thesis.Second,it's the method of comparative study,comparing and analyzing the supervision methods,testing process,innovation standards and practical data of the extraterritorial Regulatory Sandbox,highlighting the similarities and differences of sandbox testing in various countries and regions,selecting suitable operating mechanism,qualification standard and regulatory framework to provide experience summary and model reference for designing scientific Regulatory Sandbox in mainland China.