The Study of Financial Innovation,Risks and Supervision System in China

Financial innovation influence macro-policy making,financial market operation and commercial banks' transparency.Financial innovation can manage and control financial risk,on the other hand,it can increase the extension of financial risk,and it creates much negative effect to financial stability.China should establish and improve harmony system of banks,securities,insurance supervision and macro-control department,does a good job of international cooperation with the international financial supervision organizations,and participate in constitute international financial supervision rules actively;so as to enhance specialization level of China's financial supervision constantly.