On The Supervision Of Chinese Enterprises Hedging

As China’s market economic system gradually consummation and the reform ofcapital market development, China ’s futures market after20years of exploration, theuse of financial derivatives for hedging role highlights day by day, playing anincreasingly important role in the process of national economy and entity services inthe industry. The enterprise hedging purpose is for internal exposure to hedge, whichis beneficial to the enterprise to avoid price risk, reduce business losses. However, inrecent years the enterprise using financial derivatives for hedging presents to us is amajor economic loss events occur one after another, brought tremendous adverseeffect to the country and society. Through detailed analysis on the market, mostenterprises are huge hedging losses caused by, in addition to the risk controlmanagement ability and internal supervision and operation process of internal andenterprises related to improper, the corporate hedging invalid supervision is also themain reason for the loss of. Therefore, regulation of hedging is the key enterprises tocarry out hedging business success or failure, is worth us thinking deeply.This paper combines two aspects: the micro level internal risk control andmacro level of external supervision and related regulations. From the microenterprise perspective, financial derivatives hedging of the whole process should havethe professional personnel of the strict supervision of the risk, to prevent theemergence of any risk hedging transaction process. Enforcement also strengthen thesupervision and management mechanism of internal risk, not to hedge positions intospeculative positions. At the macro level, the regulatory agencies to participate inhedging enterprises supervision and strict management.This paper consists of six parts, studies the research status at home and abroad,the first part mainly introduces the background of this paper; the second part mainlyintroduces the regulatory status of China’s enterprise hedging, including the status ofrisk control of internal enterprise micro level and macro level regulation; the third partmainly introduces the supervision of our country corporate hedging, mainly from twoaspects: one is the existence of risk hedging in the enterprise internal control problems,such as supervision and management mechanism of enterprise internal risk is notperfect and internal risk management organization structure is not reasonable; the twois the hedging of enterprise external regulation, such as: hedging regulatory law is notperfect, the hedging external the regulatory mechanism is not perfect; the fourth partmainly introduces the reason of the existence of supervision of our country corporatehedging, the internal risk control of these problems by combining the hedging losses of case analysis; the fifth part mainly refer to the successful experience of foreignhedging regulation, through the introduction of America and Japan these developedcountries system of regulation and supervision law the sixth part mainly; in view ofour country enterprise hedging The problem of tube and combined with foreignadvanced experience, and then puts forward the relevant policy recommendations.