Research On The Reform Of My Country's Financial Regulatory System

After the outbreak of the financial crisis in 2008,the United States,the United Kingdom,Germany,Japan and other countries have promoted the reform of financial regulation system.The mode of regulation has been transformed from the traditional multiple regulation to the unified regulation,or even twin-peaks regulation.In 2003,China established the financial system of "separate operation and separate regulation",which basically met the needs of economic and social development,ensures the overall stability of China's financial system and makes contributions to the development of China's financial industry.In recent years,obvious changes have taken place in China's financial industry.The continuous deepening of financial mixed operation and formed a number of huge financial conglomerates,especially the emergence of Internet finance,has given birth to many new financial formats and Internet financial magnates.With the further opening up of the domestic financial market and the gradual integration with the international financial market,financial innovation is increasingly active,financial products are increasingly increasing,and financial derivatives are constantly created.However,with the occurrence of financial risks such as the 2015 stock market crash and the AnBang insurance incident and the emergence of financial corruption,many challenges have been posed to China's financial regulation.Facts have proved that the separate financial regulation system is unable to meet the needs of economic and financial development,for it has exposed many shortcomings.In the new era,China Government had established Financial Stability and Development Committee of the State Council,reorganized the CBRC and the CIRC,and formed the CBIRC,which has taken an important step toward unified regulation.At the same time,China has also strengthened the responsibilities of the people's bank of China in financial risk regulation.In the future,China's economy will regain its peak,China will also transform from a financial power to a financial power,and the level of China's financial internationalization will be further improved.In the future,China's financial regulatory reform will move towards unified regulation or even twin-peaks regulation.However,in this process,China still tackled with financial development and systemtransformation cost,and many other problems.In addition,as a country with a large scale,China cannot solve financial problems by relying only on a single vertical financial regulation system of the central government.This paper discusses these problems in detail.The first chapter mainly introduces the historical context and international background of China's financial regulatory reform,the significance of the topic,structure of the thesis,research methods,innovative points and shortcomings.The second chapter elaborates the significance of financial regulation,and analyzes and compares the advantages and disadvantages of the four main regulation modes,including separate regulation,functional regulation,unified regulation and twin-peaks regulation,and summarizes the theoretical basis of financial consumer protection.The third chapter mainly reviews the course of China's financial regulatory reform,especially since the new era,which has not only made progress,but also taking conditions of different areas into consideration.In this part,the author reviews the achievements of financial regulation and the problems still existing in the reform of financial regulation in China.The fourth chapter mainly demonstrates adjustment or reform measures of financial regulation mode in four developed financial markets,including Australia,the United States,Britain and Japan,after the 2008 international financial crisis,and gives corresponding comments.In the fifth chapter,the author concludes key points,overall goal of reforms and puts forward some viable suggestions,which offers a proposal for the establishment of financial consumer protection and China's central-local double-decker financial regulation system.