Study On Macro Evolution And Reconstruction Of Financial Bad Assets Disposition System In China

In the past four decades of Reform and Opening up,the core issues and difficulties in the transition from a planned economy to a market economy in China have been the transformation of social resources allocation mechanisms and methods,as well as the social costs and historical burdens of digesting and disposing of system transformation and development.The important task of the transformation and reform of the financial system is to establish and perfect a market-oriented financial resource allocation mechanism and a corresponding non-performing asset disposal system.The current problem of huge non-performing assets in the financial industry is confronted with important issues such as how to establish a governance mechanism for the “two lines and one meeting” of large-scale asset management,and how to establish a market-based disposition system for financial non-performing assets that has been integrated with the central government,which has become a constraint to China's financial reform and development.As the disposal of local financial non-performing assets is also on the agenda,the environment for the construction of financial non-performing asset disposal systems has become extremely complicated.It is necessary to review its macro evolution and reconstruction.This article focuses on the macro evolution and reconstruction of China's financial non-performing asset disposal system.The article is roughly divided into six parts.The first chapter introduces the background,purpose and significance of research,literature review at home and abroad,and so on.The second chapter is the theoretical basis,introduces and defines the concept of financial non-performing assets,based on the overall government theory and coordinated promotion theory,demonstrates the "progressive" reform and "singularization" of non-performing asset disposal in the current financial reform environment.The goal urgently needs overall coordination and advancement.The third chapter is a historical review.Based on the benchmark events of disposal of non-performing assets in the context of financial reforms,the construction process of China's financial non-performing asset disposal system is roughly divided into five phases.Then,according to the fuzzy comprehensive evaluation method,the disposal of non-performing assets is conducted.A rough fit is made with the degree of integration of the overall financial reform,coordination and marketization.The fourth chapter is the evolutionary cause,which reveals in depth the "unity,phase,and interaction" internal logical relationship between the construction of financial non-performing asset disposal system and the interactive phased development of financial system reform.The fifth chapter is the main problems and obstacles,analysis of financial non-performing asset disposal system is built in the overall financial reform of the central and local financial "segmentation",the "segmentation" between the central financial regulatory authorities,the local financial division The lack of a system of financial non-performing asset trading markets and the lack of judicial binding force.The sixth chapter is the basic conclusions and policy recommendations.The policy recommendations for reconstructing the disposal system of non-performing assets,which are based on the five relationships of overall and local autonomy,rational empowerment and effective checks and balances,government-led and market-oriented operations,interest adjustment and market mechanism innovation,and judicial constraints and local interests.