Comments On Consummating The Legislation Of The Foreign Capitals Participating In Chinese-funded Commercial Bank By Shares

After joining WTO, China has already promised to strengthen the open of financial services industry. As the paces of the foreign capitals participating in the Chinese-funded commercial bank by shares are stepped faster and faster, it will undoubtedly bring various kinds of risks to whole financial system of our country. I think, among them the main risks are: Producing danger to the finance safe of our country, producing challenges to the financial supervision of our country, leading to the loss of state-run assets for the risk of the bank, the shifting of control power of the bank caused by the foreign capitals controlling interest, damaging the depositor's interests, etc. Since there are risks, we must take various kinds of measures to keep a lookout. Among them the most important precautionary measures are no more than perfecting relevant laws, carrying on the laws to take precautions. Reviewing the current legislation of our country, it far lags behind the situation. Since at present there is no special legislation on it in our country yet, various kinds of behaviors that the foreign capitals participate in by shares are adjusted from current relevant laws and regulations, such as Commercial Banks Law, Company Law, Management Method for the External Financial Institution Participating in Chinese-funded Financial Institution by Shares, and so on.Though there are many laws and regulations which stipulate the foreign capitals participating in the Chinese-funded commercial bank by shares currently, there are still some problems to solve. Among them the mains are: the legal system is still not perfect; the regulation about protecting depositor's interests is not completed; the regulation of disclosure of information is still imperfect; the provision on supervisory system is comparatively scarce; the regulation to legal...