Research On Perfecting God Market Supervision Legal System Of China

Gold market is an important component of the financial markets, closely linked tonational interests, economic social development and people’s daily life. Since2008, theinternational financial crisis stimulated people’s awareness of avoiding financial risk, goldproducts has become a favored asset for professional investment institutions and the generalpublic. The Chinese gold market has experienced20years of economic reform practice,already developed into a comprehensive industry market with gold production, goldconsumption, gold spot trading volume, ranking the first; gold futures tradingvolume,ranking the forth. Compared to the rapid development of the gold market, god marketsupervision legal system of China needs perfecting.This paper is divided into four parts, the first part explains the definition of the goldmarket and its supervision legal system characteristics. Firstly, on the basis of the meaning,types and components to define the gold market, regard the gold market as a multi-levelcombination. Secondly, summarize the gold market development overviews, noting thatmainly in market size, market prices and market types, appearing some new changes. Thirdly,conclude that the characteristics of the contemporary god market supervision legal system,mainly including multilevel supervision system，diversified supervision object，leadingderivatives supervision and self-supervision. The second part investigates the world’s majorgod market supervision legal system. Focus on legislating and regulatory mode, point that thegold market is divided into self-supervision (as the representative of the UK) andgovernment-led supervision system (as the representative of US). The core experience of theworld’s major gold market supervision legal system can be summarized to a differentiatedsupervision philosophy, a clear division of supervision system, possessing superior financialinstitutions and emphasizing the central bank supervision. The third part evaluates the statusquo and the defects of China’s gold market supervision legal system, considering that thecurrent supervision legal system mainly exists five problems: unsound legal system, uncleardivision of authority regulatory agencies, industry organizations playing a limited utility,"underground gold speculation " issues as well as lacking of macro-prudential regulationaccording to the current gold price volatility. The fourth part proposes specificrecommendations on perfecting god market supervision legal system of China. Follow theidea of appropriate supervision, coordinating supervision, legal supervision and establish ascientific legal system; Make efforts to resolve the current gold market "long supervision "chaos, definite the regulators’ jurisdiction and steer unified supervision from separatesupervision; Improve the market self-regulatory system; Play a part in the gold guild; Fromthe perspective of appropriate supervision, market integrity, investor protection, put forwardconcrete measures to resolve the "underground gold speculation" problem combined cases;Finally, in contact with the current gold price volatility background, propose that we shouldstrengthen macro-prudential supervision of the central bank.