| At present, Chinese economy is still in the process of converting to the marketeconomy, with more and more foam during the rapid development of China’s financialmarket economy, such as continuous stock market bubble, real estate bubble, especiallyabout the ‘usury products’ bubble problem in Wenzhou, a city in Zhejiang Province sometime ago. On the one hand, the swelling foam was serious threat to the sustainabledevelopment of Chinese finance; on the other hand, it sounded the alarm to our overly strictfinancial regulation, and to our unsound financial market system. This paper attempts tostart from the financial markets in its own institutions, so as to prompt some solutions to theproblem of Chinese imperfect financial market, and to achieve the sustainable developmentof Chinese finance.Wenzhou usury crisis reflected the financing problem of SMEs from the side of thedemand of the capital, but at the same time it embodied our affluent investment difficultfrom the supply side of the capital, and ‘usury products’ bubble. If we considered the crisisfrom the angle of usurious lenders with the thought of seeing the lenders lending behavioras the investment behavior of financial markets on the demand side of financial products,then a conclusion would be drawn that the usury is a kind of ultra-high expected return,high-risk financial products, namely ‘usury products’.This thesis analyzes the foam of usury products’ from the perspective of the need of‘usury products’, it finds out the source of the asset bubble in China, SME financing,investment difficult, the usury crisis and a series of problems, which is also named asexcessive development of financial markets caused by the imperfect financial regulation. Tosolve these problems, the author conducted the comparative study of the system ofinternational financial markets, and then put forward the general principles of financialsustainable development. All the work above would help us find a breach of an essential topromote the sound development of the financial markets, and to deepen the understandingof the financial market crisis and the appeared frequently unsustainable condition infinancial markets. Most importantly, it would facilitate the implementation of thesustainable development of Chinese financial strategy. |
