Research On Perfection Of Local Financial Supervision System In China

While local financial organizations promote inclusive financial innovation and serve the financing of small and medium-sized enterprises,there are also financial chaos such as illegal fund-raising,frequent ’ mine explosion ’ of P2 P online loan platforms and disorderly establishment of regional financial asset trading centers.It is a consensus to strengthen the supervision of local financial organizations.It is the key point of the reform of local financial supervision system in China to establish a local financial supervision system based on the central financial supervision department and supplemented by local financial supervision institutions.Therefore,in-depth study of the improvement of local financial regulatory system,not only has important theoretical significance for the improvement of local financial regulatory theory,but also has important practical significance for resolving local financial risks and deepening the reform of local financial regulatory system.This thesis uses literature research,normative analysis and other methods,based on the theory of local financial supervision,this thesis analyzes the current situation of local financial supervision system,points out the problems and causes of the current local financial supervision system,and then puts forward specific suggestions to improve the local financial supervision system in China.In addition to the introduction and conclusion,the thesis is divided into four parts.The first part discusses the theoretical basis of local financial supervision,including the determination of local financial supervision power and the theory of local financial supervision objectives.Local financial regulatory power is the product of inclusive financial innovation,financial decentralization and local financial regulatory system reform.The primary goal of local financial supervision is to maintain local financial security and stability,followed by maintaining competition order,ensuring the rational allocation and effective use of local financial resources,and ultimately achieving the value goal of financial equity.The second part traces the historical evolution of local financial regulatory system,and analyzes the current situation of local financial regulatory legislation.China ’s local financial regulatory system has experienced centralization,decentralization and standardization,and has formed a huge rule system.In addition to the regulations and normative documents issued by the China Banking and Insurance Regulatory Commission and other special regulations and normative documents for some local financial forms,19 provinces have successively issued local financial supervision and management regulations,which have played a positive role in effectively preventing and resolving local financial risks and promoting the sustainable development of local finance.The third part analyzes the problems existing in China ’s local financial regulatory system.The lack of legal basis,unreasonable power allocation and lack of regulatory resources are the problems existing in China ’s local financial regulatory system.China ’s local financial regulatory system needs to be legalized,institutionalized and standardized.The fourth part puts forward specific suggestions to improve the local financial supervision system in China.First,improve the basis of local financial supervision,build a comprehensive legal system to provide normative guidance for the reform of local financial supervision system.Secondly,rational allocation of local financial supervision power,clarify the responsibilities and scope of local financial supervision,rationally divide local financial powers and responsibilities,and establish a local financial supervision system with consistent powers and responsibilities.Finally,optimize the allocation of local financial supervisory resources,improve local financial supervision capacity,improve supervision and risk management measures.