A Retrospect and Reformation of China's Financial Supervision and Management Legal System

As part of departmental administrative legal system, financial supervision and management legal system plays a very important role in China. Drawbacks of our financial supervision and management law mainly include; incomplete legislation of financial supervision and management, mixed and overlapped provisions in law and regulation, lack of norms on subject of supervision and management, the weakening of independent position of central bank, and imperfect methods for supervision and management. All of these give rise to the incapability of law enforcement. Before the investment of foreign funds into China and the enforcement of international rules, it is necessary to perfect the financial system and management legal system.