Risk and Regulation in Contemporary China s Financial Innovation: Shadow Bank and Regulatory Sandbox

• 발행기관: 원광대학교 법학연구소
• 저자명: Jian Fan Shuo Yang
• 간행물 정보: 『원광법학』제35권 제3호, 351~363쪽, 전체 13쪽
• 주제분류: 법학 > 법학
• 파일형태: PDF
• 발행일자: 2019.09.30

영문 초록

China s financial system has been envolving for thousands of years, providing foundation for the ruling of the feudal empire. The restoration and reconstruction of the contemporary Chinese financial system began in the Chinese Eleventh CPC Central Committee Third Plenary Session, 1978. In the four decades reaching 2018, the financial regulatory framework gradually came into shape, of which the four pillars include the People s Bank of China (hereinafter, PBOC), the China Securities Regulatory Commission (hereinafter, CSRC), the China Banking Regulatory Commission (hereinafter, CBRC) and the China Insurance Regulatory Commission (hereinafter, CIRC) (hereafter together referred to as “One Bank, Three Commissions”). This framework was further adjusted in March 2018 during the First Meeting of The Thirteenth National People s Congress of People s Republic of China. It is now composed of the Financial Stability and Development Committee (hereinafter, FSDC), the PBOC, the CSRC and China Banking and Insurance Regulatory Commission (hereinafter, CBIRC) (hereafter referred to as “One Committee, One Bank, Two Commissions”), gradually developing into an integrated financial supervision network. One of the important factors that contributed to this change was the wild growth of “Chinese-style” shadow banking. The disadvantages of institutional financial regulation and the lack of basic financial legislations must share the blame. At present, a large number of financial innovation companies are striving in China, actively borrowing practical experiences from extraterritorial financial supervision legislations. They are the key in achieving the international competitiveness of financial innovation and the stability of domestic financial markets.

목차

Abstract

Ⅰ. The history of financial regulation in China

Ⅱ. Formation of sectors-based financial regulatory structure and major law/regulations

Ⅲ. Financial Innovation in China and the Formation of Financial Risks

Ⅳ. Institutional Sources of Financial Risks in China

Ⅴ. Shadow Banking in China

Ⅵ. Reform Initiatives of Regulation on China’s Financial Markets

Ⅶ. The Value of Regulatory Sandbox in China

키워드

China Finance Financial Innovation Risk Regulation Shadow Bank Regulatory Sandbox