Research On Institutional Changes Of China’s Financial Supervision And Behavior Of Government

The process of modern financial industry from the free state to the government regulation has been experienced institutional changes. Being a kind of institutional arrangement, the purpose of financial supervision is to keeping the financial system steady and balanced, providing efficiency and fairness. To ensure benefit of whole society for enjoing together, Governments need external supervision to maintain normal functioning and sustainable development of the financial system. In the real world of the financial industry, in order to maintain financial stability and economic development, governments adopt different regulatory measures to the financial transactions and financial institutions, including financial regulations and rules, as well as taking measures to control financial crisis. Over the years, especially undergoing financial crisis times and again, governments and scholars gradually become the same voice on discuss whether they could support the financial supervision, but on how to regulate, which role governments could pay, has not been an unified opinion. No matter how many voices scholars can argue, It can not be denied that governments has been demonstrated lack of foresight, flexibility and adaptability, regardless of financial markets amidst the winds of change, especially in the financial crisis,they behaved more seriously than normal. Therefore, studing the behavior changes of the government in financial regulation has been of very great significance.Reviewing the history of China’s finance and supervision, a country can hardly be a financial market, from a single financial form to a plurality one, in just thirty years. Meanwhile, China experienced the unique transformation of the two dual economic structure. Financial innovation and financial supervision have been emerging from an endless stream, state and government planed and implemented a lot of institutional transplantation and system innovation for the development of financial industry, opening the road for financial supervision with government-leading characteristics.This paper adopts the theory of institutional change, useing historical analysis methods, regarding institutional changes of financial regulation as the logical framework, regarding government behavior as objective of the research , revealing the causes of China’s financial supervision changes, process ,internal causal relation and logic connotation since reform and opening up of China.The structure of this article : the first chapter is introduction; the second chapter is the theoretical analysis of institutional changes; the third chapter is the Chinese financial supervision system evolution; the fourth chapter is mixed management, centralized monitoring and control system , institutional study; the fifth chapter is the separated operation, separated supervision system, and institutional amendments; sixth chapter is the comprehensive management of budding under separated supervision system and institutional adjustment; the seventh chapter is the conclusion and enlightenment.