A Study On The Government's Countermeasures Against The Risk Of Cross Border Capital Flow

In today's world economic situation amidst the winds of change risks triggered by cross-border capital flows, the financial world more and more influence, and become the main factors that promote the global financial turmoil. As far as China is concerned, the relevant interest rates caused by cross-border capital flows, exchange rate fluctuations and unbalanced industrial structure, affecting the smooth operation of the financial system in China the serious challenge to the current cross-border capital flow risk supervision mechanism. Therefore it is necessary to change the previous single, administrative monopoly type of government financial management mode, according to financial market principles for cross-border capital flow monitoring system of current financial supervision, operation mechanism, financial regulation system reform. The leading force in the market and enhance the efficiency of resource allocation, to establish risk management framework of modern financial market development.This text is a total of four chapters. Chapter one is the introduction, mainly elaborated the topic research background, significance and literature review part, the part of the literature review including the review of the research on China's macro economy and developed countries in the implementation of cross-border capital flow risk supervision measures. Cross-border capital outflow trend is obvious, the reversal of the "double surplus" of international balance of payments situation is the research background of cross-border capital flows, meaning that to establish the framework of government management of modern financial market. In developed countries implement cross-border capital flow risk supervision measures study to government regulation is the ultimate goal is to achieve national financial stability and the balance of international payments.The second chapter is the theoretical basis used in this article, including cross-border capital flow risk theory, financial supervision theory and its application, focuses on the theory and application of financial supervision. In this chapter, cross-border capital flow risk theory based on cross-border capital flow risk types, causes are analyzed, including interest rate and exchange rate is the main reason of cross-border capital flow risk, clear the relationship between excessive financial, political environment and enterprises, improve the modern financial supervision system should be transformed into the market risk under the condition of financial products, the market risk through the risk allocation mechanism. This process is based on the interest rate and the exchange rate market is the premise of mature risk control the mechanism of financial supervision and the operation system, the government through indirect means to regulate the financial market to start.Chapter three problems of our government in terms of risk supervision of cross-border capital flows are studied. First of all in recent years China's cross-border capital flow scale and characteristics of are analyzed, that China's capital projects substantially deficit, capital outflows have fast may result in a risk of deflation. And then introduces the China's cross-border capital flow situation of the risk supervision, and then analyzes the problems existing in the governmental supervision of cross-border capital flow risk reasons, relates to the formulation of laws and regulations, system design, the implementation of the provisions of the system perfect, and so on.The fourth chapter in view of the existing cross-border capital flow risk supervision problems, proposed solutions from the perspective of government regulation. In the RMB capital account convertibility into SDR, put on the schedule of the background, the general idea is to promote market-oriented financial, administrative monopoly management mode reform by the government to fully grasp, to adapt to the establishment of the development of modern financial supervision system. One is to improve the construction of the system of foreign exchange administrative regulations; the two is the establishment of effective financial supervision mechanism, including the coordination of national financial institutions, financial supervision data center, cross-border capital flow joint supervision mechanism construction; the three is the risk of financial regulation system, including the promotion of interest rate, exchange rate determined by market mechanism, the reform of the foreign exchange management system; four is the construction of monitoring system of cross-border capital flows.The innovation of this paper is that from the establishment of the modern financial supervision system of systematical analysis on the problems existing in the supervision of cross-border capital flow risk in China, comes to establish to adapt to the development of modern financial regulatory framework, interest rate, exchange rate market turn based, transformation of government supervision mode and cooperate with related to monitoring of sharing system, the system of laws and regulations, the construction of financial supervision mechanism of conclusion.