China’s Legal Response to Financial Supervision under the Impact of International Financial Crisis

In the current international financial crisis,financial supervision shall be systematic to meet the need of financial risk,and the key to reduce financial risk is to reform and perfect financial system and mechanism by law. There are a lot of defects in China’s current legal system of financial supervision and management,such as the disorder of rule provision system,the outdated concept of provision,the multiple main bodies of law making,the low quality of rules and inefficiency,etc. By learning from the experience of the developed countries such as the USA and Britain,the successful rigional organizations as the European Union,and the concept of supervision sparkpluged by the Basle Committee on Banking Supervision,we shall improve our financial supervision from the following three levels: the creation of financial regulatory law,the specific measures to improve financial supervision and the internationalization of legislation.