| This thesis considers that conducting research on local banks is of great theoretical and practical significance in terms of their position in local economies, changes in their external environment and how they can survive and develop better.Local banks are an organic part of the whole financial system, they are a helpful supplement to China's banking system and an indispensable part of the financial organizations in the country. Despite the fact that city commercial banks only account for 6.27% of China's total banking assets, they nevertheless play a vital role in providing financing services for local small- and medium-sized enterprises, supporting the development of private economies in cities and offering personal financing services for urban residents at large. Rural credit cooperatives have now become a leading force in rural finance. As for supporting fund services for local rural areas, agriculture and rural households, they play a role and occupy a position that no other financial institutions can replace. Therefore, Local banks occupy an irreplaceable and vital position in the development of local economies.At the same time, strengthened financial regulation and fierce horizontal competition have forced local banks to strengthen their own reforms. So that, embanking upon in-depth research on the development of city commercial banks and rural credit cooperatives to find out their existing problems and solve their development problems will be a primary condition for them to promote the development of local economies in theeconomy in the future. Meanwhile, property rights system reform is the core and key point of current local bank reforms. Because improving the property rights system is an important institutional requirement for the development of micro financial institutions. The primary perquisite for financial intermediary organizations to innovate, to reform, to improve their legal person governance structure or to enhance their corporate competitiveness is to have a clear property rights structure and make effective property rights system arrangements. This is the theoretical basis for the development of micro financial enterprises. Theoretically, the significance of the property rights system lies in the following. Firstly, a rational and sound property rights system is the precondition for financial development. Secondly, through bringing its various capacities into full play, the property rights system can strengthen the resources allocation function of the economic and financial systems. Therefore, only financial intermediary organizations established on the basis of a clear property rights structure and rational and effective property rights system arrangements can have an effective governance structure. Effective governance structure and arrangements are in turn the basis for better banking performance. However, as far as the current situation is concerned, urban commercial banks and rural credit cooperatives alike all suffer from serious defects in their property rights systems. Unsound property rights systems have now become an institutional bottleneck that restricts their further development. It is precisely because of defects in their respective property rights systems that the urban commercial bank joint-stock system has not produced its due institutionalization and property rights effects and that rural credit cooperatives have departed from the cooperative system. Such defects have also resulted in the low efficiency of the whole industry and the view that the cooperative system is equivalent to low property rights efficiency. Therefore, the research of this thesis on local banks' property rights system is of practical significance to the current property rights system reforms of local banks. But,currently, domestic scholars' research on urban commercial banks mostly focuses on whether cross-regional operations are needed and how to carry out cross-regional operations through such was as mergers, acquisitions and restructuring. In other words, current research is mainly concerned with the problem of how to make urban commercial banks bigger and stronger. Most research work on theirproperty rights systems does not go beyond merely suggesting for "State capital to withdraw and private capital to enter" or introducing foreign capital. In-depth discussions are lacking. Meanwhile, as rural credit cooperative reforms have gathered pace and the State has paid growing attention to them in recent years, there has been much research on rural credit cooperatives' property rights. However, a review of most research literature on rural credit cooperative property rights system reforms reveals that current discussions are mainly concerned with such issues of ambiguous property rights systems and missing owners in rural credit cooperatives. Opinions have differed on the issue of how to improve the efficiency of rural credit cooperatives' property rights system. This has actually given birth to the three models for property rights reforms at present. The current thesis mainly applies the self-organization theory to discuss local property rights systems. Its focus is on how local banks can establish a local self-organizing property rights system. In other words, the thesis makes its explorations along the line of how to set up a property rights system that is suitable for the development of self-organizing systems such as local banks. This is the first preliminary attempt of its kind in property rights theory research and thus offers certain theoretical novelty.Starting with property rights system research, this thesis applies the self-organization systems engineering and physics as its research and analysis approach. It uses such a methodology to analyze the property rights structure and property rights relationships of local banks.The thesis firstly introduces the property rights system into the banking context, puts forward some basic concepts of financial property rights and analyzes and compares the characteristics of financial property rights, property rights of financial institutions and property rights of financial assets. It then examines property rights reforms in China's banking sector and points out that incremental reforms outside the financial system are the basis for the formation of city commercial banks and also form the logic starting point of for reforming such banks. Following that, the thesis goes on to analyze the current development status of urban commercial banks and rural credit cooperatives and the characteristics and existing problems of their respective property rights systems. On this basis, it then conducts an in-depth analysis of the ongoing property reform activities in city commercial banks and ruralcredit cooperatives and points out their deficiencies.Secondly, based on the above analysis, the thesis points out that lack of a property rights system that suits the self-organizing operations of urban commercial banks and rural credit cooperatives is the reason why urban commercial banks have had a joint-stock system but failed to bring into play the due role of their property rights system and why rural credit cooperatives have departed from cooperative finance and resulted in low efficiency. In other words, current property rights reforms are conducted in isolation and give no consideration to the need to establish a positive link between property rights systems and the other key "components" and elements in them. Or to put it another way, property rights reform is made just for the sake of reform without considering that property rights system reform is a result of self-adjustment and self-feedback of the property rights system in response to environmental changes rather than artificially designed or that a relationship of entirety, synergy and relevance should be established between property rights system reform and the whole system itself. Therefore, this thesis engages in discussions on the self-organizing behavior of local banks, examines their operational characteristics and points out that property rights system reforms should be established to adapt to the self-organizing development of city commercial bank and rural credit cooperative systems. After pointing out that establishing a self-organizing property rights system for local bank systems is the basic direction and fundamental principle for their property rights reforms, the thesis finally puts forward a plan for such property rights systems. .Centering around the above research path, the whole thesis is divided into six parts. Five of them are key chapters:Part I: This part puts forward the practical and theoretical significance of the research theme of the thesis and mentions the relevant research findings made by and research methodologies adopted by previous researchers.Part II: This part discusses the theoretical part of the thesis, reviews and analyzes relevant property rights theories and the self-organization theory. It also defines the relevant concepts of financial property rights and presents a comparative analysis of financial property rights, property rights of financial institution and property rights of financial assets.Part III: This part makes a brief review of property rights system reforms in China's banking sector and points out that out-of-system incremental reforms constitute a unique feature in the country and urban commercial banks are the very outcome of such reforms. Emphasis here is placed on analyzing the characteristics of the property rights systems of urban commercial banks and rural credit cooperatives in different historical stages, their existing problems and the negative effect and results caused.Part IV: This part focuses on analyzing changes in the respective property rights systems of rural credit cooperatives and city commercial banks in recent years, including the ways, contents and status of such changes and problems already spotted.Part V: Past practice has proven that existing property rights reforms are merely reforms for the sake of property rights reform, which fail to view and examine ways of property rights system reforms or choose reform directions from the perspective of the banking system. Entirety, relevance and synergy are thus lacking. This chapter applies the self-organization theory to analyze the self-organizing behavior of local ? banks and points out that only a property rights system established on the basis of the self-organizing systems of urban commercial banks and rural credit operatives can be effective and that this is the only way to bring into play the due effect of the property rights system,Part VI: This part points out the direction, basic principles and specific plans for establishing a self-organizing property rights system for local banks. It specifically points out that property rights system reforms for local banks should establish a relationship of entirety, relevance and synergy with the other "key" components and elements of the respective systems as well as a property rights synergy between urban commercial banks and rural credit cooperatives. It also points out that only when local property rights system reforms are established on the self-organizing behavior of their respective systems can the due effect of the property rights system be brought into play.On the basis of absorbing the former fruit, the innovative points of the thesisare following: 1. On methodology, the thesis represents the first attempt to apply systems theory and the self-organization methodology to engage in theoretical discussions oflocal banks' property rights system. 2. Put forward the concept of self-organization in the context of local banks, the thesis uses the self-organization methodology to analyze local banks and points out that local banks possess fairly strong behavior and characteristics of self-organization. 3. A system view of property rights system reforms, the thesis is the first to point out that bank property rights reform is a kind of spontaneous behavior responding to the external environment and a result of self-adjustment based on external environmental changes. There is a need to establish a relationship of entirety, relevance and synergy between property rights system reforms and the other "key" components and elements of the banking system. 4. Action mechanisms of the property rights system, the thesis is the first to point out that apart from comprehensiveness and thoroughness of reform, the most important thing for the property rights system to play its due role is that it should be based on the certain self-growth potentials of banking organizations. This is the foundation upon which the property rights system plays its role. 5. A synergic view of the local bank property rights system, as an important part of local banks, rural credit cooperatives and city commercial banks should take synergy based on cooperation and competition as the external constraint condition for establishing their respective property rights systems. The idea is to prevent unnecessary competition from causing waste of local financial resources and maximize property rights efficiency. 6. Mechanism for establishing property rights systems for local banks , the thesis is the first to point out that only property rights systems established on the basis of the self-organizing system of city commercial banks and rural credit cooperatives can be effective. This is the only way fro them to achieve property rights efficiency.The paper needs to study problems in-depth: 1 .To analyse the problem in-depth from rural financial system .2. To analyse the problem in-depth by further applying mathematics model.
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