By Zhang Chenghui, Wang Gang & Zheng Hong, Research Team of DRC on China's Financial Reform Strategy

Research Report No 37, 2015 (Total 4722)

Abstract:

Even though China's financial legal system has taken shape, there are still quite a few weak links compared with the requirement for deepening the reform and promoting the rule of law comprehensively. With the swift transformation of economic development mode, China aims to establish a more efficient, steady and safer economic system to accelerate the transformation of financial industry. Against this backdrop, the inadaptability of the financial legal framework has become more and more prominent, calling for an urgent need to unify and consummate the system from the national governing level. Based on the illustration of the necessity of the issue, this paper provides a summary of the basic principles to abide by in perfecting the financial legal system, as well as corresponding policy suggestions from the perspective of financial legislation, financial administrative enforcement of law and financial jurisdiction. Apart from that, the paper also gives a list of the key fields in perfecting the financial legal system recently, such as consummating the legal basis of financial regulatory system, adjusting the trust-related legal relations, establishing the market legal framework of financial derivatives, building a unified protection legal system for financial consumers, perfecting the financial security network and regulating the informal financial activities.