Development Of China's Bill Market And Perfection Of Law Of Bill

Bill plays a necessary role in modern market economy, mostly economic dealings, business trades all make use of bills, settle accounts, exchanges and credit function could complete smoothly. Because of bill's advantages such as low costs, flexible exchanges and easy to set up market prestige, it has already obtained extensive development. As the important component of the money market, the bill market through to sign and issue, honor, discount, transfer discount and rediscount business to link enterprise, commercial bank, and central bank together organically. The scale of the bill market is expanding constantly, become the tie of bank, non-banking financial institution and fund flow of enterprise have played important function on the development and perfection of the financial market of one country. At the same time the bill market solves the financing of enterprises especially small and medium-sized enterprises, become the best financing channel of small and medium-sized enterprises. The bill market not only offers a new point of the growth of profit but also improves the assets quality of financial institution. The bill is regarded as the important regulation and control tool of the Central Bank, which can regulate the total amount as well as can adjust the structure properly. It is because of this theory and realistic point to China's entire economics; this article has analyzed the problems of the bill market and made suggestions to the development of the bill market. In addition, in order to make the bill behaviors within the norm of the law of bill, all bill behaviors are included in the guarantee and restraint of the law of bill, because of this, the article make some perfection suggestions to deal with the existing regulation clauses that can not meet the high-speed development of bill market, This article is divided into four chapters altogether. The first chapter analyzes the nature of the bill and the bill market. Analyzing the popular understanding, conception, classification of bills, advantages of bills as settlements and means of payment and the conception, the different levels of the bill market according to different diversions,the analysis of the above-mentioned theories helps to understand the basic function of the bill market. Chapter two is a starting point of the writing of this article, explains the realistic meaning of the development of our country's bill market. This chapter has analyzed from four respects: at first the bill market is a financing channel of widening the financing of enterprises, because the fund demands of small and medium-sized enterprises is highly liquid, the amount of money is small, cycle is short, frequency is high, the flexible of the bills can meet their financing demand fully. Secondly, it is the bill market that not only offers a new point of growth of profit but also improves the assets quality of the financial institution, and analyzes the realistic meanings of the perfection of the bill market, solves the excessive development of capital market while the lag of the money market in the financial market at present; At last, analyzes the unique meaning of the bill market in conducting the utility of the monetary policy. The above analysis offers the realistic basis for writing of this text. Chapter three explains the important content of this article. Chapter three is divided into three parts. First part have analyzed the development course of the Chinese bill market, Chinese bill market can track back to middle period Qing Dynasty in Shanxi province. The development of the real bill market can be divided into three stages: the stage of widely using from 1981 to 1993, the institutional improvement steps from 1994 to 1999, from October of 1999 to present fast developing stage. The article has analyzed the significant incidents of each stages and leap development of the bill market. The second part focus on the case study of the bill market existing at present: Firstly, theinfrastructure is incomplete; Secondly, Market orientation is unclear, ignoring the financing bill; thirdly, market disparate development: It is not perfect to be shown as the market structure. The main market body is insufficient, lack of individuals and specializations in organization; every sub market develops unevenly, the promissory bill market has not got effective development. The bill market of every area develops unevenly; the market exists bigger risks. From the bank itself, bill market and the angles of enterprises the article analyzes the existing risks respectively. To the question of bill market of the second part, the third part has proposed the developing direction of the bill market of our country in the future. At first, speaking from the technology, we should develop paperless bill, set up unified electronic market of the whole country; secondly, speaking from the function, we should increase the financing function of the bill, proposed the inherent demand of bill market for our country. We should expand market subject, not limited to bank enterprise and money market fund. Market subject can rise to individuals. Foster the market intermediary:According to the various kinds of bill of intermediary and reality of our country, the article proposes set up bill specialize in organization, namely bill company and bill trade center that realizes the scale and marketisation of the bill market. Chapter four of this article is the perfection of the law of bill. The content of chapter four is to set out from angle of the institutional improvement on the basis of the existing problem of bill market of our country of chapter three, offer the legal basis for the developing direction of the bill market. Because the law of bill was made on 1995, some contents at present cannot apply to the development of bill market already: hindered the circulation and the fully playing of the function of the bill; damage the interests of the bill parties, caused the dispute of the bill.,influenced the healthy order of the economic development. In fact, there are a lot of relevant legal clause contents that need...