Corporate Governance of State-controlled Commercial Banks

The financial industry is the core of modern economy, the financial sector has grown in strength and played an important role in optimizing resource allocation, support for economic reform, and promote steady and rapid economic development and maintaining social stability. The WT0 China's financial sector full liberalization of foreign strong competitive power to force China's financial sector reform to further speed up the domestic financial industry to reconsider its own model of development and governance structure. Reform of commercial banks is the focus of the reform of the financial sector, the four state-owned commercial banks (Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China) is the key to reform. China's state-owned commercial bank reform goal is to transform it into a modern financial enterprise, to construct a reasonable corporate governance structure, the success of the reform will be directly related to the overall development of the national economy is good or bad. In this paper, two rights separation theory, principal-agent theory, and stakeholder theory: First, the analysis of the special nature of China's state-controlled commercial banks, corporate governance, a brief introduction to the domestic and international corporate governance guidelines; Secondly, from the analysis of the state-owned the history of the controlled commercial banks began, combined with its development status, analyzes the state-controlled commercial bank's internal and external defects; once again, on the basis of analysis of the status quo and defects, the introduction of advanced foreign commercial banks mode - the Anglo-American model of corporate governance mode and Germany and Japan, summed up the significance of foreign commercial bank corporate governance model draw on the corporate governance of state-owned commercial banks in China; China's state-controlled commercial banks corporate governance recommendations, on the basis of the previous text analysis: the departure from the structure of property rights proposed a new model of the system of state-owned financial asset investors, namely the establishment of state-owned financial Assets Supervision and Administration Commission of the idea; sound internal governance structure should have the characteristics analyzed from the perspective of internal governance structure, analyzed the system of independent directors and three new will \improve disclosure mechanism, strengthen the legal system, pay attention to the role of external constraints and many other external governance approach from the point of view of the external governance environment, provides a useful reference framework for internal and external co-governance of state-owned commercial banks. The important role of state-owned commercial banks in China's financial system we must be combined with domestic and international experience, build a reasonable and sound corporate governance framework, to provide practical recommendations for the development of China's state-controlled commercial banks, to promote the rational development and play an increasingly an important role in China's financial reform.