Research On The Legal System Of Gold Reserve In China

Along with our economy status has improved, China foreign exchange reserve has raised to the world’s second place. But the discrepancy is that China’s gold reserve is not increasing and the risk is growing. The "Twelfth Five-Year Plan" period is an important period for building a socialist market economy, and it’s the crucial period for deepening reform and opening up, accelerating the transformation of economic development. It is the important task of the new Plan’s period to strengthen and improve macroeconomic regulation or control, to consolidate and expand cope with the international financial crisis shock’s outcome. Therefore, under the background of the financial crisis, this paper has important and practical significance for discussing the legal property with financial security and gold reserve. Due to the strong cross-cutting nature of the subject areas covered by the gold reserve, this paper uses the empirical analysis method, based on the present situation of the gold reserve, taking the financial safety concept as its core, from the legal principle and reasonable principle two aspects as the specific guidance, playing the active role of the gold reserve, eventually servicing in the overall economic benefits.This paper is divided into five parts as follows:Part1describes the current research of gold reserves status, and expounds that the research scope is still held by our government monetary gold, and then draws out the writing path and core argument of this article by introducing a long history background of gold.Part2, through reviewing the historical process, it analyzes the status changes and legal basis of the gold as the international reserve. Then according to the gold history evolution in our country’s bank legislation, this article measures the gold value in modern financial.Part3mainly analyzes the dilemma of China’s gold reserve and compares the basic gold reserve system in domestic with in international countries from the vertical and horizontal two aspects. Through using historical data form, this part compares the share of gold reserves in foreign exchange reserves, the growth situation of gold and exchage reserves in China with variation situation gold reserves in international counters, and then reveals three key sticking points of China’s gold reserve. These key points are the safeguard financial security hidden danger that can not be ignored, so systematic analysis of these issues has important practical significance.Part4discusses the legal regulation of gold reserve in the Chinese Context. The performance of gold in the previous financial crisis reminds us that we must pay attention to the gold reserve in order to protect the financial security. Above all, we should establish the financial safety as the core value pursuit, analysis of the legal interpretation and economic connotations of the financial safety, then incorporate into the adjustment range of legal norm for analysis. At the same time, due to foreign exchange reserve and gold reserve as the international reserve’s financial asset, therefore, the combination of the two analyses and overall consideration is conducive to China’s financial security integrated management.Part5is mainly for perfecting China’s gold reserve in the legal system. In this section, using of the Economics Interpretation Method as a means of analysis, proposes the analysis framework based on the legal principle and the reasonable principle:the value of financial security carry out from beginning to end with the guide of legal principle and reasonable principle, as a concrete manifestation of the values; the final goal is to achieve the whole economic benefits of most of the members of society. In view of the Legal principle, the first step is to improve the People’s Bank of China Law and related laws or regulations, and comprehensive standardized the gold reserve management activities to avoid emergency legislation; secondly, we must clear the basic objectives of the management of gold reserve, highlighting the values of financial security to provide directional guidance; again, we should regulate the operation procedures and supervision mechanism of gold reserve management, so as to guarantee the operation and management of the gold reserve legal justice; finally, we should perfect the legal responsibility of the gold reserve operating rule, so that the form of liability includes comprehensive and the related responsibility of punishment can be strengthened. Under the perspective of the Reasonable principle, it is necessary to be considered reasonable factors, which are noted that the exchange risk, inflation risk, and supply&demand relationship risk in three aspects of risk prevention. Only on this basis we can do quantitative analysis. Once the excess would be contrary to the whole economic benefits original intention, and ultimately sufferings are the majority of members of society, who are the ultimate stakeholders.