Study On Financial Macro-prudential Management Framework Of China

During the global financial crisis started from2008,the world financial industries and macro-economy were seriously shocked, monetary authorities in different countries rethought this crisis profoundly, and they draw a conclusion that the main reason caused this crisis is due to the fact that the deficiency of Macro-prudential management. Macro-prudential management is evidently different from the micro-prudential management which only concerned the stability of every individual institution, the macro-prudential management’s supervising subject is the entire financial system, in the meantime, it also places particular emphasis on financial institutions’procyclicality and correlation between the financial institutions and financial markets. Macro-prudential management has become a consensus, the theory and practice about Macro-prudential management is developing constantly in the world, what’s more, the national financial regulatory authorities have also issued relevant policies and formulated the Macro-prudential management framework according to their own national conditions.The "12th Five Year Plan" indicated that the government of China has made the decision about constructing financial Macro-prudential Management framework. This paper summarized the theory of macroprudential and analyzed the practice of our country. This paper proposes some policy recommendations to improve the perfectness of financial Macro-prudential Management framework based on the results of empirical test at last. Main methods include strengthening the coordination between financial regulatory authorities, augmenting policy instruments, clearing the status of central bank in Macro-prudential Management Framework.The Macro-prudential Management Framework need to be improved continually, so it can play an import part in security of finance and economy.