We have launched E-mail Alert service,subscribers can receive the latest catalogues free of charge
Financial infrastructure construction during the financial reform
2014-03-17
By Zhang Chenghui, Research Institute of Finance, the DRC
Research Report No 106,2013
Abstract
Finance is a contract intensive industry that requires a good environment to protect the execution of contracts. Otherwise, trading risks will increase and affect the healthy development of the financial market. Based on international experience, countries suffering from financial crises generally have a shortage of financial infrastructure. There are three pillars in a nation's financial infrastructure: legal environment, information system and market support. China faces problems in all three aspects. It should solve financial legal problems by establishing a complete legal system, intensifying law enforcement, and clarifying the boundaries between laws and administrative supervision. Also, the shortage of financial supervisory authorization and the over-granting of privileges can be solved by clarifying the boundary between supervisory departments and the market.
