Research On Legalization Of Discount Behavior Of Folk Bills In China

Since the 18 th CPC National Congress,China has always taken the supply-side structural reform as the main line in the process of building a modern economic system.With the deepening of supply-side structural reform,small and medium-sized enterprises usher in development opportunities but also increase the pressure on capital demand.As one of the financing means,bill discount can well meet the capital needs of most minor enterprises.However,banks and other financial institutions with statutory discounting qualifications are prudent in providing discounting to a small number of large enterprises and small and medium-sized enterprises subject to strict background checks,taking into account financial risk controls;in order to achieve their own capital needs as soon as possible,most small and medium-sized enterprises will choose to turn to the private bill market with less review procedures.However,the legal status of the private bill market has not been established,and the legitimacy of the discount behavior of private bills also conflicts with the relevant laws and regulations of China ’ s current bills.Therefore,the issue of the legitimacy of the discount effect of private bills has aroused widespread controversy at the theoretical academic and judicial practice levels.Private bill discount refers to the discounter and discount applicant who do not have the legal discount qualification,in most cases without real commodity trading relationship,based on the realization of financing needs of the bill transaction or transfer behavior.The discount business of private notes has the characteristics of low subject threshold and simple process.According to the different subject and way of discount,it can be further divided into sale,loan and derivative private bill discount business.However,in reality,there are different opinions about the legitimacy of private bill discounting,and a few people illegally use private bill discounting to engage in illegal and criminal activities,which has a negative impact on the development of social economy and financial markets.Article 10 of the ’ Bill Law ’,Article 4 of the ’ Illegal Financial Institutions and Measures to Ban Financial Business Activities ’ and Article 101 of the ’ Summary of the National Court ’ s Civil and Commercial Trial Work Conference ’ and other legal norms stipulate that the discount subject in China ’ s bill discount business should have legal qualifications;at the same time,local courts have not formed a unified judicial referee path on the issue of civil bill discount effectiveness disputes.It can be seen that China ’ s private bill discount business in the process of legalization is faced with the current legal norms confrontation and different referee standards.Based on the legal support and practical needs of the legalization of civil bill discount behavior,this thesis demonstrates the necessity of its legalization.As an essential legal act,the discount of private bills fully meets the substantive requirements of effective civil legal acts;negotiability of negotiable instruments means that there is no causal relationship between the effectiveness of the legal relationship of negotiable instruments and the entry into force of the basic relationship of negotiable instruments,which provides theoretical support for the legalization of discount behavior of civil instruments.Combined with the current situation of Chinas economic and social development,after the legalization of private bill discount behavior,it can not only ensure the realization of bill exchange,credit and financing functions,but also meet the needs of the times,improve the bill financial market,improve the efficiency of China ’ s economic operation,and strive to effectively solve the financing difficulties of minor enterpriseGive full play to the social and economic value of private bill discount,and explore its implementation path.First of all,the introduction of legal provisions,clear legal conditions for the establishment of civil bill discount;amend and improve laws and regulations and departmental rules,give legal civil bill discount certain development space;supplement the interpretation of offences relating to discounting of illegal civil instruments to prevent ’ one size fits all ’.Secondly,amend the content of Article 10 of ’Law of Negotiable Instruments ’,fully affirm the principle of ’ non-causality ’ of negotiable instruments,and provide legal support for the application of discounted civil instruments.Again,improve article 101 of the " Summary of the National Court ’s Civil and Commercial Trial Work Conference ",and appropriately relax restrictions on discounting of civil instruments;issued on a regular basis on civil bill discount effectiveness disputes guiding cases,to achieve the unity of the referee rules.Finally,the use of professional thesis intermediaries,encourage the use of electronic instruments,improve the implementation mechanism of private bill discount and market credit evaluation system,improve the bill information disclosure system,build intelligent supervision system,so as to ensure the legal and smooth landing of private bill discount.