The Institutional Analysis of the Necessity for Mixed Operation in the Chinese Finance

The current separate operating system in the Chinese finance is in disequilibrium, which produces the objective necessity and driving force for changes in the operating system. The superiority of mixed operating system under the current open-economy circumstances constitutes the attraction of the transformation to mixed operating system. In reality, there are institutional demand and some institutional arrangements for mixed operation. In view of the long-term trends, therefore, mixed operation will be the inexorable direction of the changes in the operating system of the Chinese finance.