The Research On Financial Regulation Of China Under The Macro-prudential Framework

These years, with substantial growth in the number of financial institutions,market trading volume, especially the increasing number of financial innovations,the stability of the financial system does not become apparent. Financial tsunami thatbegan in the subprime crisis stems from asset securitization, leverage it by zooming,enlarge the instability of financial risk and the financial system. The crisis hasbrought to countries serious financial and economic problems in the wake of thefinancial crisis, national regulatory authorities to work hard to reflect on the crisis inthe financial regulatory policy lessons have adjusted the Basel Committee is awareof the minimum capital requirements established only on the basis ofmicro-prudential supervision, there are many loopholes, then raised bothmacro-prudential and micro-prudential supervision of new ideas gradually become anational banking regulator main guiding ideology.China has long been in a state of financial repression, in the face of the currenteconomic backdrop of an increasingly globalized, China is also increasinglyintegrated into the world economy and financial reform is bound to usher in theice-breaking move, at present, whether it is financial or financial elements ofmarket-oriented reforms innovation to flourish all illustrate the financial deepeningof China’s financial industry is a solid start. In promoting the process of financialreform, our country is bound to encounter a lot of financial risks, we must hold thebottom line to prevent the financial crisis does not occur systemic risk, so learn fromthe current international regulatory philosophy advanced detours on greatsignificance. This paper is divided into five parts：Chapter I introduces the writing background, writing significance, writing ideasof the article, and presents the domestic and international literature reviews as wellas the innovation and shortcomings of the thesis.Chapter II focuses on post-crisis era of western financial regulatory reform. Theoutbreak of the financial crisis and the spread of such countries to recognize the wanton indulgence of financial innovation and financial risk would be subjected tosevere retaliation, the financial sector needs to be strictly regulated. Therefore, thefinancial crisis, the initiator of the US-led Western countries have made financialreform program in the new regulatory scheme in all countries proposed to strengthenmacro-prudential supervision.Chapter III analyzes China’s financial sector development and economicbackground.2014China’s economic development has entered a new norm, financialreform has entered a crucial stage, stable financial market reform elementspromoting the internationalization of RMB is welcomed, Shanghai set up a free tradezone for China’s capital account liberalization Pathfinder, the economic situation isgrim but forward pace did not stop.Chapter Ⅳanalyzes potential risks of China’s financial industry. After thefinancial crisis, the United States launched quantitative easing, the world is awashwith liquidity, China has also appeared in real estate-based asset bubble, shadowbanks are simmering, internet banking in the ascendant, which have greatlyenhanced the possibility of systemic risk a serious threat to the development ofChina’s macro economy.Chapter V gives policy recommendations for China’s financial regulatoryreform. At this stage, in the early stages of financial development, financial riskoverall control, so on the basis of systemic risk does not occur on the primary task isto encourage financial innovation.Based on the above analysis, some suggestions ofChina’s financial reform, and reform may face difficulties give anticipation for thefuture conduct of macro-prudential regulation is important and guiding role.