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Institutional Structure of Financial Regulation in China: Lessons from the Global Financial Crisis

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Abstract:

In light of the recent global financial crisis, this article aims to critically examine China's financial regulatory structure and, based on the results of such examination, set out reform proposals for China. At present, China adopts a traditional sectoral system of financial regulation, which has exhibited several inadequacies in meeting the regulatory challenges in a rapidly changing market. In quest of a solution to the problem, a comparative analysis is conducted of the financial regulatory regimes in some advanced economies, including the US, the UK and Australia, each of which is representative of a distinct regulatory model. When looking to these overseas experiences for guidance, regard is taken not only of their objective advantages and disadvantages, but also of the local conditions in China. It is concluded that the US model merits consideration in the short term and, with the further growth of China's financial markets in the long run, the Australian model provides the preferred direction for reform over the UK model.

Document Type: Research Article

Publication date: April 1, 2010

More about this publication?
  • The Journal of Corporate Law Studies provides a forum for scholarship on corporate, securities and financial law broadly construed. Thus the Journal publishes articles on subjects as diverse as insolvency and the commercial conflict of laws, in addition to mainstream topics such as directors' duties and financial regulation. The Journal also embraces interdisciplinary work and work in cognate fields.Articles published in the Journal are subject to rigorous peer review. Shorter articles and notes are refereed where appropriate.
    The Journal is published twice a year in June and October.
    The journal will be of interest to academics and practitioners specialising in any of the subjects covered, and also to those with an interest in the strategic direction of the law and the influences which affect it - thus regulators, law and policy-makers, and the judiciary.
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