Financial Regulatory Policy Comparison And Mutual Learning Of Chinese Mainland And Hong Kong

The international financial crisis which was caused by the U.S. subprime mortgage crisis has led many Western capitalist countries to multiple crises, such as economic, social and political aspects. The subprime mortgage crisis has led the financial institutions in developed countries must re-estimate risk and re-allocate asset; the fund of developed countries will reverse back to its own country, by which to strengthen the stability of the financial institutions of developed countries. This will result in the dramatically shrunk of stock market prices, the devaluation of the local currency, and the decline in the scale of investment, economic slowdown or even recession of emerging market countries. As one of the emerging market countries, China is facing new opportunities for development, and also facing unprecedented challenges. The financial market has traditionally been known as an economic "barometer" and "observatory", reflecting the macroeconomic performance and level of development, providing meaningful information for decision-making and implementation of national macroeconomic policies. This paper will base on the research of Chinese mainland and Hong Kong financial regulatory policy, analyzed the difference of the two capital markets as well as two different financial regulatory systems, try to be beneficial to the establishment of a fair, just, inclusive and orderly international financial order.This paper systematically introduced the development of the financial regulatory system around the world, highlighting the stages of development of the Chinese Mainland and Hong Kong’s financial regulatory system and internal cause of regulatory system policy. Put forward reference suggestions to the development of the Mainland’s financial regulatory system.