China's Rural Cooperative Financial Legislation Discussed

In the report of the Fifteenth National Congress of the Communist Party of China, the Party Central Committee put forward that the realized form ofthe public ownership should be diverse, and emphatically pointed out that the collective economy that were mainly the union of the laborers?labor and capital should be especially advocated and encouraged. Rural Cooperative Finance, as a part of cooperative economy, not only reflects the union of the laborers?labor, but also reflects the union of the laborers?capital, it therefore is a kind of realized forms of the socialist public ownership. So, studying the legislation of Rural Cooperative Finance and standardizing the development of Rural Cooperative Finance, not only comply with the spirit of the Party and the policy of the country, but also will be of great theoretical significance and realistic value. Firstly, This paper examines the legislative history of Rural Cooperative Finance. then summarizes the experience from it. Secondly, after making an analysis of the problems which exist in the practice of Rural Cooperative Finance and the reasons, the author uses the successful experience of other countries fbr reference, so as to offer some measures of ameliorating our current legislation of Rural Cooperative Finance. Finally, in regard to the figure tendency of the legislation of Rural Cooperative Finance and based on the standard and current Rural Cooperative Finance System, the author puts forward four basic principles and the most-suitable subject, according to which Rural Stock Commercial Bank will be established, hoping it will be of some value for reference both to policy-makers, and to those who are engaged in practical financial work.