Improve China'S Legal System Of Foreign Financial Supervision

1., we should improve our foreign-related financial supervision legal system.

First, according to the prudence principle, we should improve and innovate the contents of financial supervision.

On the one hand, China should improve the quasi person system of foreign investment and Sino foreign joint venture financial institutions as soon as possible, and determine the scope of business of financial institutions that enter the market, so as to reduce the operational risks of China's financial institutions, improve the financial management and service level of the financial industry, promote the steady development of China's financial industry, and ensure the safety of China's financial industry.

On the other hand, we can try to establish a new form of access to foreign financial institutions, allowing foreign financial institutions to enter the multilateral mode of branches, sub banks and joint ventures, and encourage the pformation of existing branches of foreign financial institutions.

2., adopt comprehensive and international regulatory strategies.

The key to further reform of China's financial supervision is to implement a unified and comprehensive function.

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The new PBC law, which was put into effect in February 1, 2004, should be implemented as soon as possible. The regulations on the establishment of the financial supervision and management coordination mechanism of the State Council should be implemented as soon as possible, and the functions of relevant departments should be changed as soon as possible. The three banks, certificates and guarantees should be changed from policy makers to concrete executors of policies.

In addition, a capital flow risk monitoring system should be established as soon as possible, covering the policy system and capital flow of capital flow risk control.

Testing system.

By using various policy tools, we can reduce the negative impact of international capital flows.

At the same time, according to the changes of the economic environment, we should timely adjust the management objectives and effectively track and predict cross-border capital flows.

3. further strengthening

International coordination and cooperation in supervision.

At present, China's bilateral and multilateral international cooperation is mostly carried out in the form of participation in international organizations and the establishment of bilateral memorandum of understanding. It is of great significance for China to strengthen international coordination and cooperation in financial risk supervision.

China should strengthen bilateral and varied cooperation on the one hand and improve the content of the memorandum of understanding so as to make it more operational.

We should build a multi-channel cooperation channel and give full play to the role of the mutual legal assistance treaty in international financial supervision and cooperation.

On the other hand, it can take a more active part in regional and even global financial supervision organizations, play a more important role in the International Securities Regulatory Commission and the International Association of insurance supervisors, strengthen ties with the Basel Regulatory Commission and other international organizations, and promote the internationalization of China's financial supervision.