Research On Problems And Countermeasures Of Local Financial Supervision

Finance is the core of the modern economy,financial security is an important part of national security,and the position and role of finance in economic development and social life are increasingly important.Since the 2008 international financial crisis,strengthening financial supervision,preventing financial risks an d maintaining financial stability have become important issues in safeguarding national economic security and improving national and global governance.The CPC Central Committee and the State Council have always attached great importance to preventing and defusing financial risks,actively promoted the reform of the financial regulatory system,strengthened the macro-prudential supervision of systemic risks by the central financial regulatory authorities,and improved the regulatory coordination mechanism.In accordance with the unified rules of the central government and local supervision,who approves,supervises and assumes responsibility,the central government shall correct the overall requirements of local financial supervision and responsibility,and improve the division of responsibilities between the central and local financial supervision and responsibility for risk management.For the first time,the relevant financial supervision powers of the provincial people's governments were granted,and the scope and boundaries of supervision were initially clarified.In accordance with the relevant requirements of the Party Central Committee and the State Council to strengthen local financial supervision,local financial supervision authorities have been set up by local governments at the provincial level during the current round of government institutional reform.It is of great significance to promote finance to better serve the overall situation of local economic and social development.This is also a major reform of China's financial regulatory system.This paper is guided by market failure,externality,information asymmetry,public products and governance theory,and comprehensively analyzes the current situation and existing problems of local financial supervision across the country.It puts forward measures to strengthen and improve the local financial supervision function from the aspects of improving the legal system of local financial supervision,clarifying the responsibility of local risk management,improving the coordination mechanism of Central and local financial supervision,establishing modern means of scientific and technological supervision,and strengthening the personnel construction.This is of practical significance for how to further coordinate risk sharing and supervision responsibilities between the central and local governments,and to further improve the local financial supervision function in an orderly manner.At the same time,this paper also discusses the function of the local financial supervision authority and the location of the local financial supervision system reform to promote a certain reference significance.