A Study On The Right Of Local Financial Supervision In China

China’s financial industry has entered a golden period of development with the continuous development of China’s economy,especially in recent years,the birth of micro-loan companies,financing guarantee companies,pawnbrokers,private financing intermediaries and P2P emerging online loans,third-party financial management and other new financial institutions.Corresponding to the rapid development of the financial industry is that the continuous expansion of local financial risks.The traditional centralized"one line,two meetings" financial supervision structure can not meet the requirements of the financial industry development.China began to explore the decentralization of financial supervision for that to solve this situation since 2003.Up to today,the provincial governments have established local financial supervision bureaus,which are responsible for the integration of local financial supervision,financial development,financial policies and financial services.Although China has initially established a local financial regulatory body,there are still some unreasonable phenomena in local financial supervision.Such as decentralized authority,lack of statutory authorization,unreasonable allocation of responsibilities,and conflict of regulatory objectives.Compared the western financial industry with China,we can find that the western financial industry started early,developed mature,and the theory of financial decentralizing supervision has its own system,this especially in the United States and Canada.Therefore,this paper uses the method of comparative analysis,on the basis of introducing the local financial supervision system of the three countries,compares with the current situation of local financial supervision in our country.And puts forward some suggestions for the vertical decentralization of financial supervision in our country.Therefore,in this case,it is of great theoretical and practical significance to study the legitimacy of the power source and the rationality of the allocation of the local financial supervision power.