The Development Course Of Policy Banks In Our Country:Historical Review And Prospects Of Reform

Policy bank is the embodiment of policy finance. Compared with the commercial bank, policy bank is based on national credit, to obtain financial support by issuing bonds and loans, mainly to meet the needs of national long-term economic development.China’s three policy banks were established in1994, they exercise the functions of policy finance. For more than a decade, the three policy banks have played an important role in the implementation of the national industrial policy, promoting commodity import and export, supporting the development of agriculture and other fields. With the changes of the economic situation and the development of the financial system, defects of the three policy banks are gradually exposed. Therefore, the reform of the three policy banks is put on the schedule. The dissertation is based on the basic principle of Marx’s political economics, institution economics and finance theory. Firstly, combined with the research of scholars at home and abroad, it analyses the related category of policy banks. Secondly, it reviews the development process of policy banks in China, and points out the problems of policy banks and the necessity and feasibility of reform. Thirdly, it summarizes the successful reform experience of foreign policy finance and the China Development Bank, to provide the reference for the reform of other two policy banks. Finally, it clearly put forward the idea and the specific steps of policy bank reform.