Legal Regulation Of Supervision Risk Of National Financing Guarantee Fund

At present,China’s small,medium and micro enterprises and "agriculture,rural areas and farmers" play a major role in attracting employment,stimulating innovation,driving investment and promoting consumption.However,the financing development of smes and "agriculture,rural areas and farmers" has always been restricted by the "macmillan gap",that is,there is a fund gap in the development of smes,which is embodied in the negative credit support provided by financial institutions to smes and agriculture,rural areas and farmers.So the National Financing Guarantee Fund was established in 2018,as a national relief micro,small and medium enterprises and agriculture,rural areas and farmers "financing difficulties,financing your new measures",National Financing Guarantee Fund,with its strong capital strength and the national credit,provide re-guarantee agencies at the provincial level to guarantee business,and eligible to guarantee agencies at the provincial level for equity investment,enhance to guarantee agencies at the provincial level to resist the ability of the guarantee risk,help the micro,small and medium enterprises and agriculture,rural areas and farmers to get loans,and realize development.However,there is a risk of the absence of supervision of the National Financing Guarantee Fund.The current supervision pattern of the financing guarantee industry is the guidance supervision of the joint ministerial meeting on the supervision of financing guarantee business,and the supervision pattern of each local government taking specific responsibilities for supervision.However,the coordination function of the ministerial-level joint meeting of the supervision of financing guarantee business has not been well played,and the supervision subjects of financing guarantee are not the same in different provinces,and the information communication between them is not smooth.After the establishment of the National Financing Guarantee Fund,it is urgent to establish a perfect supervision mechanism at the central level.At present,the resolution of National Financing Guarantee Fund supervision absence of risk is also imminent.The first part of this paper mainly expounds the establishment background and business model of the National Financing Guarantee Fund,distinguishes its legal attributes,and extracts the development logic behind by sorting out the evolution path of the National Financing Guarantee Fund.The second part of this paper puts forward the reasons for the supervision risks of National Financing Guarantee Funds,including the lack of supervision concept of "financial equity",the absence of supervision caused by the current institutional supervision,the lack of internal supervision mechanism and the weak self-discipline supervision of industry associations.The third part of this paper puts forward that the establishment and operation mode of the National Financing Guarantee Fund is of milestone significance in the world,which is beyond the common international policy financing guarantee path,but still needs to learn from the beneficial experience of foreign policy financing guarantee.In this paper,two regulatory models of policy-based financing guarantee in the United States and Japan are selected for reference and the experience of regulatory risk prevention of National Financing Guarantee Funds is summarized.The fourth part of this paper puts forward the legal regulation path of the supervision risk of National Financing Guarantee Fund,including clarifying the supervision principle of financial equity,exploring the establishment of "leading" functional supervision mode,introducing external supervision mechanism and strengthening the supervision of China financing guarantee association.