Study on Perfection of China’s Financial Competition Supervision System
|School||Southwest University of Political Science|
|Keywords||Financial competing regulatory objectives Financial modest liberalization Financial Efficiency Power configuration|
Financial competitive regulatory embodied in a regulatory goals from security objectives to the transmutation of competitive target. Our current financial regulatory too much emphasis on financial security, the security goals in a priority position in the financial regulatory target system, which leads to excessive government intervention in the financial sector, financial repression. Therefore, we need to strengthen the supervision and regulation of financial competition, changes in the regulatory objectives of the past, too much emphasis on financial security, competitive regulatory objectives in the first position of the regulatory target system, and use it as a guide to improve our financial regulatory system competitive. This requires on the one hand to reduce excessive government intervention, to play the role of market mechanism constraints, competitive financial supervision to enhance, promote competition, improve financial efficiency, on the other hand through the effective integration of existing financial regulation and competition law enforcement resources and configuration competitive financial control in the fair, modest, orderly range. In addition to the introduction and summary, the main content of the elaborate and explore is divided into four parts: The first part of financial competition regulators scientific definition and analysis of the core concepts and elements of supervision of financial competition. Financial competition supervision the regulatory model refers to abandon the past, simply focus on the goal of the security, and competitive regulatory objectives in the first position of the regulatory target system. That is, on the one hand to finance competitive regulatory enhance, promote competition, improve financial efficiency, on the other hand by the regulatory financial competition control in a fair, modest, orderly range. The core concept of the regulation of financial competition is moderate financial liberalization, financial efficiency and financial competition fair, modest, orderly. Financial competition regulators by reducing excessive government intervention strengthen the role of market mechanisms constraint, strengthen the internal governance of science and forced market exit mechanism constituted. The second part of the analysis of the theoretical basis of the regulation of the financial competition. Financial competing regulators both financial deepening theoretical appeal, the legal value target selection. The supervision of financial competition is the value of the result of the game between financial stability and financial efficiency, financial security needs. The third part describes the current status quo of the financial regulatory system of competitive and defect. First, financial competing regulatory objectives is weakening. Of financial regulation will control the financial risks and maintain financial security as the main target, resulting in the weakening of the financial competing regulatory objectives to ignore financial efficiency and financial freedom, and the full, effective and fair competition affecting the financial industry. Second, regulatory excessive government intervention in financial competition, this is specifically manifested in strict financial market access system, strict financial industry operating range limit and interest rate controls excessive. Finally, the competition of our financial regulatory bodies and competition law enforcement agencies that irrational allocation of power between the anti-unfair competition law enforcement agencies and anti-monopoly law enforcement agencies. The fourth section presents recommendations to improve our financial regulatory system competitive. This includes, first of all, to build a competitive regulatory target priority regulatory system. Second, to reduce the competitive regulatory excessive government intervention. Mainly refers to the reform of the financial system of market access, and improve the information disclosure system in China, as well as market-oriented interest rate reform on the basis of the abolition of the Financial Industry. Finally, the rational allocation of the financial competition regulatory bodies and competition law enforcement agencies that anti-unfair competition law enforcement agencies and anti-monopoly law enforcement agencies powers.