| Financial investment and circulation is a particular economic category which is closely linked with finance. In the modern market-oriented economy, financial investment and circulation are widely used and developed in the different countries of the world. It is becoming an essential control means of the national economic activities and receives attention of different state governments in the world because of its unique effect.The systems of financial investment and circulation are different in the USA, Korea, Japan, German and France. The system of American Financial investment and circulation mainly has the following features. The investment sources have various channels; nongovernmental investments serve as the main body; the government plays a role of filling vacancies, guidance and control; the right of making investment decision is market centralized; market plays an important role in balancing investment. Japanese and Korean system has different features. The range and duty of financial investment and circulation body are definite; the inclining policy is adopted; inadequate investment of basic industry is resolved; big enterprises and corporations are supported; technical changes and progresses receive attention; social funds are adopted so as to remain the high deposition and high rate of investment. German system has following features. Enterprises decide to invest by themselves; risk and profit are symmetry; right and obligation are unified; the supervising and controlling systems are perfect and effective; perfect serving system. French system mainly has following features. The duty and task of investing body is clear; different investing bodies have different purpose of investing management; governmental investment applies planned management. Through the comparative analysis on macro-control of financial investment and circulation in different countries, it is found that the interference degree of financial investment and circulation is different; the direct and indirect control are combined, but indirect one is the main style, the emphasis on control and combining styles are not the same; on macro-control measurement, finance and circulation are widely used in the different countries. Some nations respectively adopt planned guidance and industrial policies, etc. Moreover, different nations developed those policies when they carried out them.Our national system of financial investment and circulation has many problems. On the main body, the status of making decision is indefinite. On investment management, the risk limited system is not established and the new macro-control system suitable for socialist market is not formed. On investing environment, the social law environment and the constructing market for market economy are deficient. On governmental circulation, the channels are single; recessive debts are formed due to the guarantee and promise of the local government; the projects which are partly performed in marketing style are expected to be improved in practical operation; since the law forbid local governments to circulation loaned, the initiative of infrastructure construction is limited in a sense. In addition, the executive approval system is not changed thoroughly; the complete funds are not enough; the distributions of the market resources have not been given full play.The reformation of financial investment and circulation macro-control system in our country might give full play to the effect of regulation which market mechanism has on investment and circulation and distributions of resources. In this aspect, German ' free competition' principle which is interfered limitedly by the nation is worth using for reference. Direct and indirect control might be combined. Indirect control might be the main way of investment and circulation. Japanese government didn't give full play to indirect control, so the initiative of enterprise was affected. We 'd better avoid the same thing occurring when we learn French and Japanese successful experience. The measures such as... |
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