Enlightenments of the Financial Crisis in the United States for Perfecting China's Financial Supervision System

The outbreak of the financial crisis in the United States has brought several enlightenments for China's financial supervision. The direct reason of the financial crisis is U.S. government's improper real estate and financial policies as well as the abuse of financial derivatives. But the fundamental reason is the lack of effective financial supervision. There are many shortcomings in the U.S. financial regulatory system. For example,financial supervision mode lags behind the development of the financial industry,financial regulation lacks of integrity,multi-regulation causes overlap and blind spots,regulatory authorities are too many to coordinate and cooperate with each other,and so on. From the lessons of the United States,we have a current perspective of China's financial regulation system which still has many problems. In order to prevent and remove different kinds of financial risks,and promote the economic growth properly and quickly,we must establish effective coordination mechanism of financial supervision as soon as possible;reform financial system to encourage financial innovation;establish and improve financial legal system;cultivate high-quality professional financial regulatory personnel;improve financial regulation methods.