In an age when modern financial companies have become more and more complex,and if not adequately supervised,they can cause lethal harm to the stability of one’ s financial system. In post-financial crisis era,major developed economies have apparently rein-forced the function of the central bank in a country’ s financial regulatory system. Over the past several years,China has witnessed the huge changes in the financial sector but the financial regulatory framework remains the same as before. The Chinese stock market crash that began on June 12 2015 has urged the domestic regulators to restructure its financial regulatory sys-tem. The issue that which modal China should follow has perplexed Chinese policymakers. The governor of People’ s Bank of China,Zhou Xiaochuan,clearly responded to the problem concerning the current financial regulatory system, and indicated that Chinese regulators and policymakers had still studied the regulatory approach China would adopt during the press of People’s Congress of 2016. This paper reviews the development of China’s banking regulato-ry system,points out the deficiencies in its original system and analyzes the recent trends of fi-nancial regulatory reform in UK to learn the international experience for further reform re-garding financial regulatory system in China.
展开▼
