Discussion On The Direction Of The Local Comprehensive Financial Reform In China And Countermeasures

Under the modern economy condition, financial as a special economic activity plays a positive role to the market economy development. China’s financial system reform is accompanied by began of economic reform. Enter the21st century, with the rapid development of China’s economy; it brought a series of financial problems:Unbalanced development of the banking sector, financial services to the real economy face adverse conditions, private capital has no legal status, Interest rate marketization reform pace is slow and etc. Thus, accelerating the reform of financial system is urgently needed. As the dynamic forefront of our country’s informal finance, the city of Wenzhou went through the financing dilemma after the boom of the private economy. A large number of private capital swarms into small and medium-sized enterprises but lack of necessary supervision, which results in breaks of enterprise capital chain and crisis of entrepreneurs escape. In view of this, the State Council issued relevant regional pilot reform scheme on March28,2012. In order to explore direction for China’s financial system reform and accumulate experience.Based on the background of financial reform in Wenzhou, this paper researches the development direction and countermeasure of China’s local comprehensive financial system reform in four parts. The first part introduces the related theories of the financial system reform. The second part reviewed the development course of China’s local comprehensive financial system reform, which focuses on analyzing the characteristics and difficulties of China’s banking reform, and mainly introduces the content and essence of Wenzhou financial comprehensive reform. The third part analyzes the developed country financial system reform and find out the enlightenment and experience adapted to China’s financial reform. Based on the discussed theory, background and experiences in the former part of this article, the fourth part put forward the aim of the new period of China’s financial system reform direction: Regulation of standardization, run mixed the development of liberalization and interest rate marketization. And put forward the corresponding countermeasures and suggestions to reform goal.