Research On The "Traffic Light" Mechanism Of Industrial Capital Entering The Financial Field

In recent years,industrial capital has played a huge role in China’s reform and opening up and the comprehensive construction of a moderately prosperous society,but the profit-seeking nature of capital has also led to the disorderly expansion of capital,and some entities have deviated from the main business,transitional financialization and financial supervision failure.In December 2020,the Central Economic Conference proposed to set up "traffic lights" for capital,and General Secretary Xi stressed that setting "traffic lights" for capital is not to not want capital,but to support and guide the healthy development of capital norms.Subsequently,preventing the disorderly expansion of capital has become an important policy goal in China’s financial and economic fields.At present,the regulatory research on the entry of China’s industrial capital into the financial field is still in the initial stage,and the avoidance of supervision by technological innovation of similar Internet enterprises makes the financial sector face more complex risks.Therefore,the study of the "traffic light" mechanism to screen compliance subjects is of great significance and application value to ensure the security and development of the financial market.This paper first expounds the theoretical basis of industrial capital entering the financial field,then analyzes the basic status quo of four types of capital entering the financial field: central enterprises,local departments,private departments and Internet departments,and systematically sorts out the changes in the regulatory environment before and after the promulgation of the Trial Measures for the Supervision and Administration of Financial Holding Companies.It is found that the deviation of the scope of supervision,the supervision of conflicts of interest needs to be improved,the cooperation efficiency between regulatory departments is low,and the lack of perfect laws and regulations and market-oriented mechanisms are the prominent problems faced by scientific supervision of industrial capital entering the financial field.Based on the aforementioned regulatory difficulties,this paper clarifies the design ideas and basic compliance of the "traffic light" mechanism,and puts forward the framework system of the "traffic light" mechanism:(1)the "green light" access mechanism for compliance entities;(2)the "red light" exit mechanism for non-compliant entities;(3)"Yellow light" warning mechanism with hidden risks.In order to ensure the smooth operation of the "traffic light" mechanism,this paper argues that on the one hand,it is necessary to improve the regulatory law and ensure that the "traffic light" mechanism has a law to follow;On the other hand,it is necessary to promote the construction of systems,innovate regulatory technologies,ensure the function of the "traffic light" mechanism,and improve the operation efficiency of the "traffic light" mechanism.