Research On The Rule Of Law Of Territorial Responsibility For Local Financial Risk Disposal

Since 2014,the central government has constantly proposed to implement the territorial responsibility of local governments in handling financial risks,but the connotation of territorial responsibility has been vague for a long time.In today’s local financial risk disposal power has not formed the rule of law,facing the challenge of local financial risks with strong spilover and wide range,how to grasp the boundary of the authority of financial risk disposal between the central and local governments,and to clarify the legal connotation of local government financial risk disposal responsibility has its independent value.This paper analyzes its legal significance and target orientation from the concept,and explains the necessity of legalizing the territorial responsibility for the disposal of local financial risks.The legislation and practice status of local financial risk disposal are compared and analyzed,and the actual situation of territorial responsibility for local financial risk disposal is combed out,and then the root cause of the contradiction in the fulfillment of territorial responsibility is dug out--the fuzzy decentralization of central and local financial risk disposal.After resolving the root of the contradiction theoretically,the author puts forward the corresponding suggestions on the rule of law to improve the local government’s responsibility of financial risk disposal.In addition to the introduction,conclusion and prospect,the text of this paper is divided into four parts:The first part defines the territorial responsibility of local government’s financial risk disposal and makes it clear that the territorial responsibility of local financial risk disposal is the responsibility generated in the process of risk disposal.And through the definition of the concept of law,it holds that the disposal responsibility is the collection of various specific administrative acts exercised according to the authority.The legalization of these specific administrative acts has the significance of maintaining the local financial order,promoting the construction of the rule of law,and restricting the administrative power.The second part,through comparative analysis,sorts out the existing legal texts on financial risk disposal at the central and local levels and the current situation of financial risk disposal practices over the years,compares the similarities and differences between various legal texts and the gradual changes of local practices and the alienation of individual cases,and then summarizes the major dilemmas faced by local financial disposal at present: First,the legitimacy of power source is doubtful;Secondly,the content of power and responsibility is fuzzy;Third,the lack of disposal funds;Fourth,the supervision mechanism is not perfect.The third part focuses on the essence of local financial risk disposal responsibility--the fuzzy division of central and local authority.First of all,the theoretical root behind the essence is discussed,and it is concluded that the lack of responsibility isomorphism and the central and local interest game are the deep reasons affecting the implementation of local financial risk disposal power,and the contradiction needs to be solved through the division of authority.Secondly,it defines the power boundary of central and local financial risk disposal,and makes it clear that national corporate financial institutions should be solely handled by the central government,and local governments should assume the common territorial responsibilities.It is assumed that local legal financial institutions should determine the territorial responsibilities of local governments according to the different allocation of supervision authority and investment structure.It explains that the local government should assume the territorial responsibility for the risk disposal of local financial organizations and non-financial enterprises.Finally,the power of financial risk disposal of local governments is allocated,and it is clear that local governments can exercise specific rights of personnel appointment and removal,business takeover and resource allocation in the process of risk disposal.The fourth part further discusses how to optimize the implementation of the territorial responsibility after the injection of the theory of the division of authority of the territorial responsibility for the disposal of local financial risks.From the perspective of static and dynamic rule of law construction,this paper puts forward a short-term and long-term two-step strategy at the static level,and puts forward supplementary opinions on the draft of opinion solicitation of the Legislation Law,the Financial Stability Law and the Local Financial Supervision and Administration Regulations,and puts forward higher requirements for the local legislation level.On the dynamic level,it coincides with the time when the reform proposal of state institutions was proposed in the 14 th National People’s Congress.In accordance with the decentralization theory and the spirit of institutional reform,this paper envisions the dual leadership responsibility isocracy mechanism of local financial departments in connection with the central financial supervision and regulation department and the coordination and planning mechanism of local financial stability commission built around the branches of the central bank.It makes the system model of "combination of strips and blocks" and the dynamic structure of overall coordination feasible.In addition,more scientific supporting measures are needed to ensure the implementation of the territorial responsibility for financial risk disposal.Internal supervision should be carried out with the help of the local Financial Stability Commission,external supervision should be established with the help of the judicial system and stakeholders,and local financial risk disposal funds should be set up in advance to jointly safeguard the implementation of responsibilities.