| After China's entry into WTO, with the mix-operated foreignbanks'admittance into domestic market, the divided-operationsystem of domestic commercial banks will encounterunprecedented challenges and severe competition inevitably. Inthe author's opinion, the transformation from divided-operation tomix-operation is not only the mainstream of international financialindustry, but also the necessary trend of our financial industry. Thepaper tries to probe into the mix-operation trend of China'sfinancial industry and the financial regulation mode as well.Chapter one: This part mainly talks about the connotationand development status of mix-oprated system at home andabroad. Firstly,it gives a brief introduction to the connotation ofdivided-operation and mix-operation system. Secondly, it depictsthe transformation of operation mode in western financial industry,which experienced four stages including: the early stage ofnaturally independence, the stage of mix-operation in the 20thcentury, the stage of divided-operation after the economic crisisand the modern mix-operation stage. At the end of this part,itbegins with the history of financial industry's development andintroduces the transformation of financial industry's operationmode. It shows us that China's financial system successively wentthrough two stages,in 1993 for boundary, which are mix-operationand divided-operation respectively. Then, it explains the looseningof the divided-operation system after China's entry intoWTO ,from the two aspects of policy and practice.Chapter two: This part is mainly about the motivation topractice mix-operation mode in domestic financial industry. Firstof all, it begins with the inherent motives for implementingmix-operation: the low specificity of financial asset constitutes itsoperation foundation; economy of scope and spreading risk arealso good reasons to practice it. Secondly, it introduces theexternal motives of implementing mix-operation such as: China'sentry into WTO, rapid development of information technology,diversified demand of customers and others. In addition, becausemix-operation is helpful to increase the resource allotmentefficiency in financial market and facilitate the development ofcapital market, so the implement of mix-operation is also the needof deepening reform of the financial enterprises. Finally, this partmakes a sound analysis of the problem in the process ofimplementing mix-operation mode and also gives some measures.Chapter three: This part mainly focuses on the selection ofmix-operation mode in our financial industry. After a comparisonbetween the two typical models of mix-operation abroad, itconcludes that the Universal Bank Model of United Kingdom iscomparatively fit for the actual situation of China now. Basedupon the conclusion above, it comes up with two optional plans toestablish mix-operation in our country: one is to establishmix-operation through the banks'holding share of insurance andsecurities companies, the other is to establish financial group orfinancial holding corporations, that is to say, choose one from thethree financial institutes acting as a leader and the other twoco-invest voluntarily. Either of the two models has its merits anddefects. We should explore a better model according to the actualcondition of our financial system reform. In fact, we have seensome useful attempts in the development of financial holdingcorporations.Chapter four: This part introduces the current situation ofour financial regulation framework and some problems as well.After a brief analysis of four financial regulation modes in theworld, the author suggests to establish Financial RegulationCommittee, which is an immediate subordinate of StateDepartment. The new established FRC should take on the wholeregulation function. It also says that our financial regulationmodes experienced four stages before the presentdivided-regulation mode came into being. The divided-regulationhas such problems as below: first of all, it may cause regulationabsence or regulation negligence; secondly, there is an objectiveconflict in the regulation of listed financial institutions; thirdly, itposes a negative effect on the regulation of listed financial holdingcorporations; finally, it is not suitable to implement regulation onthe foreign financial institutions which have multi-business underdivided-regulation mode.Chapter five: The core content of this part is the selection offinancial regulation mode in China. Based on the five principles ofthe financial regulation industry, the paper puts forward theframework of financial regulation under mix-operation mode. Italso analyses the operation mechanism of our financial regulationframework. The author thinks that the setting of financialregulation framework must conform to the operation mode offinancial industry and their reform should be carried outsynchronously. Therefore, it is necessary to establish the objectiveorientation and process assignment to implement mix-operation.Hereby, the first step of establishing mix-regulation is to reformthe old system and establish a new one. After the first step is... |
