Research On The System Guarantee Of Green Finance Development In China

Green finance originated in developed countries,is the social and economic development to a certain extent,ecological environment problems are becoming more and more serious product.Unlike traditional financial activities,green finance emphasizes social benefits more,and it guides social resources to environmental protection industries through financial activities to achieve sustainable social development.August 31,2016,the People's Bank of China,the state Ministry of Finance,the NDRC,the original Ministry of Environmental Protection,the original CBRC,the SFC,the original CIRC jointly issued the "Guidance on the construction of a green financial system",marking China's Green finance has a relatively perfect top-level design.On G20 Hangzhou Summit in September 2016,green finance entered the focus for the first time,with the world's major economies to reach a green financial development consensus.In October 2017,the party's 19 major reports on the construction of ecological civilization,15 times referred to the word "green",43 times referred to the word "ecology",and further clarified the need to develop green finance and build a beautiful China.Green finance has risen to an unprecedented level.Under the encouragement and guidance of a series of policies and documents introduced by the government,China's green finance has made great progress in practice.However,we should also soberly realize that there are still some problems in China's green finance,such as low legislative level,mostly principled legislation,unclear legal liability,lack of reward and punishment mechanism,imperfect information disclosure system,absence of supervision,and so on.Green financial system needs to be perfected urgently.Therefore,under the framework of legal economics theory,this paper uses Coase theorem,transaction cost theory,Cardo-Hicks efficiency standard and cost-benefit analysis method and supply-demand analysis method to analyze the implementation efficiency of China's green financial system,so as to provide economic basis for how to realize the effective allocation of resources and improve the efficiency of system operation.By discussing the development situation and problems of China's green financial system,this paper draws on the advanced experience of the United States,Britain and Germany in perfecting the green financial system,with a view to helping to establish and improve Chinese green financial system.Based on the research and analysis of the previous article,this paper puts forward some suggestions on the establishment and improvement of Chinese green financial system from the following two aspects: On the one hand,design the basic structure of the green financial legal system,establish a complete green financial legal system,and formulate the green finance promotion law as the Basic Law of Green Finance.Perfecting the legal liability system of green finance and the Law of green financial sector--the legal system of green credit,the legal system of green securities and the legal system of green insurance.On the other hand,perfecting other relevant supporting systems of green finance,that is,establishing and perfecting green certification system,perfecting Green financial incentive system,and strengthening green financial infrastructure construction.Together with the green financial legal system,it provides the system guarantee for the development of green finance.