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1、Improve the concept of financial supervision in rural areas American Journal of Agricultural Economics，2009.Xun QianFarmers in Chinas vast population, has some large-scale production of the farmers, but also survival-oriented farmers, huge differences between the financial needs of rural finance int
2、ermediation makes complex, together with agriculture itself is the profit low, natural and market risks high risk decision to weak agricultural industry characteristics, resulting in the cost of rural financial transactions is far higher than the city, also decided to organize the rural financial sy
3、stem in terms of operation or in the market has its own special characteristics. 20 years of financial reform, financial development while the Chinese city made impressive achievements, but the rural finance is the entire financial system is still the weakest link. Insufficient supply of rural finan
4、ce, competition is not sufficient, farmers and agricultural enterprises in getting loans and other issues is also very prominent, backward rural financial system can no longer effectively support the development of modern agriculture or the transformation of traditional agriculture and the building
5、of new socialist countryside, which to improve the rural financial supervision new topic. Chinas rural financial regulatory problems(A) the formation of Chinas financial regulatory system had a line three commission (Peoples Bank, the Securities Regulatory Commission, Insurance Regulatory Commission
6、 and the Banking Regulatory Commission) financial regulatory structure. BankThese stringent requirements, different management and diversification of monitoring has its positive role, but it also had some negative effects. First, inefficient supervision, supervision of internal consumption of high c
7、osts, limited financial industry business development and innovation space. Second, the regulatory agencies, regulatory bodies and the information asymmetry between central banks, banking, securities, and insurance mechanisms of coordination between regulatory bodies are not perfect. Information bet
8、ween central banks and regulatory agencies is difficult to share, is difficult to create effective monitoring force. Basically between the various regulators in their respective state regulators, regulatory policies and measures to overlapping or conflicting phenomena have occurred, unable to cope w
9、ith Chinas current rural financial market complexity and diversity and so on. Third, financial institutions have liquidity risk or out of the market and so on, may be excessive because the central bank assistance, financial institutions and financial institutions led to the person in charge capacity
10、 risk and moral hazard, or for financial institutions regulatory arbitrage possibilities; addition, since the lack of recourse, may adversely affect the financial stability. (B) rural financial ecological environment is not in-depth The current financial environment in rural county building still re
11、mains in the letter the user, village, township, community development credit level, government-led, human-propelled, departmental interaction and create a mechanism for financial ecological environment in rural areas lack. Local governments and authorities the importance of financial knowledge of t
12、he ecological environment is not deep, implementation and functions of individual local protectionism and heavy, there is interference with the financial sector credit and other daily business situation. Rural credit system lag, lack of bad credit punishment mechanism, rural businesses and residents
13、 in the overall credit awareness is not high, rural finance development and expansion of social services and social protection of the environment has not yet formed. (C) Chinas existing legal system of financial supervision and a number of shortcomings, can not guarantee that financial regulation is
14、 reasonable, effective, standardized implementation First, regulatory lag, supporting regulations are incomplete, the content is too rough, too simple, the banking, securities and insurance supervision laws and regulations more old, a general lack of quantitative science. Supervisory regulations and
15、 standards, regulatory methods and technical means not meet regulatory requirements in the market. Staff in the actual implementation, not easy to grasp the scale, may of operation. Second, the Chinese regulators and the regulated objects exist some interest, and the existing regulations, lack of su
16、pervision and regulatory enforcement are to ensure that financial regulation can not be just and reasonable. Finally, Chinas financial supervision is still difficult to shake off the inertia of the executive-style regulatory impact. (D) of the Rural Financing drifting outside the existing financial
17、regulatory According to IFAD study, Chinese farmers from the informal financial institutions, loans from official credit institutions about 4 times. For farmers, the importance of informal financial markets over the formal financial market. Chinas mainly rural folk form of finance rural credit coope
18、ratives, Cooperation, private lending, private banks, private funds, microfinance, etc., of which only rural credit cooperatives and microfinance in Chinas financial supervision under the rest of the financial forms the lack of appropriate supervision. The general lack of rural financial organizatio
19、ns of civil norms, there is a big risk, Chinas existing laws and regulations on private financial institutions in rural areas is one of isolation policy, making a lot of money from the dark into the rural financial market and greater regulation of financial difficulty, on rural financial security is
20、 a potential threat. learn from the developed countries (A) improve coordination of rural finance mechanisms for external supervision 1. The United States multiple composite of the coordination mechanism. U.S. financial cooperation system in rural areas by the federal mid-term credit banks, cooperat
21、ive banks, federal land banks and federal land bank system composed of three Cooperatives, the Farm Credit Administration (NCUA) leadership, and with the Council under the leadership of the private banks in rural commercial credit, National Rural Credit Bank policy of the United States shared the ta
22、sk of rural financial intermediation. The organizational model is a typical multi-mode hybrid system, three systems have an independent management system, with clear terms of reference. To ensure the healthy development of rural financial institutions, commercial banks in the United States adopted a
23、 different regulatory models, specifically setting up a relatively sound financial regulatory system in rural areas, including regulators, industry self-regulation associations, financial intermediation and mutual insurance group clearing center, the four kind of independent agencies and their subsi
24、diary bodies, the functions of different, but share the same objectives as a common rural cooperative financial institutions to serve the regulatory system. 2. Germanys comprehensive regulatory model of coordination mechanisms. Low concentration of the German banking system, in the very important pa
25、rts of the bank, the representative of the financial mixed operation. Commonwealth Bank and the Federal Financial Supervisory Authority the power to regulate the two main regulators of the banking sector there is a clear division of labor, but also close cooperation. Commonwealth Bank in Germany, ni
26、ne states have branch offices, using their own network advantages to the Federal Financial Supervisory Authority is responsible for daily transmission of data banks focus for the Federal Financial Authority to provide a better basis for the exercise of regulatory functions, but it is not directly in
27、volved in the regulation work, nor has the administrative punishment. The Federal Financial Supervisory Authority did not have branches in the states, it is difficult to carry out regular supervision, need to cooperate with the Commonwealth Bank to perform its regulatory functions. Germanys main cen
28、tral banks and industry rely on the federal audit of the regulatory system and risk prevention and protection system to ensure rural finance in the specification on the basis of continuous development. 3. Japans complement each other-type coordination mechanism. In Japan, the dual supervision of the
29、 implementation of rural finance: first, the Office of Government financial regulation, supervision on the implementation of various financial institutions, to achieve the overall risk control; Second, national and local Forestry and Fisheries Department with the Office of Financial Regulation on th
30、e implementation of rural financial institutions supervision, including the Ministry of Agriculture consists of the branch on Norinchukin supervision, Forestry and Fisheries set up in six major areas of agricultural area in County Council on joint supervision of the letter, and all, Road House, Coun
31、ty Farmer of the Ministry of Agriculture within its jurisdiction Association for Cooperative Finance Supervision Department (B) the establishment of deposit insurance and emergency rescue system to form a three-tier safety net Developed financial system generally established strict internal manageme
32、nt system, deposit insurance system and the system of three emergency safety net. As a second-class safety net of deposit insurance system has been very satisfactory. The federal government on rural finance unified compulsory deposit insurance, the specific business operation by the Federal Deposit
33、Insurance Corporations Savings Association Insurance Fund, and to assume supervision of the insured financial institutions; the German government on the implementation of the voluntary deposit of credit co-insurance, not mandatory insurance, its insurance sector is the industry organization; Japans
34、credit co-national compulsory deposit insurance, the insurance agency is a joint venture between Government and the people, by the Government, Norinchukin Bank, Japan Bank, Credit Union and a coalition of agricultural water fishery credit cooperatives Industry Insurance Agency. As a third-class safe
35、ty net for emergency rescue system, specific measures for implementation in different countries, bank deposits for the brink of bankruptcy, in some countries directly by the central bank to offer special low-interest loans (such as the U.S. and Italy), in some countries by the bank regulatory author
36、ities and other Commercial Bank for the establishment of special institutions to finance the rescue (such as France and Belgium), a number of countries came forward by the deposit insurance agency to provide funds (such as Japan), more by one or a few large banks in support of official support. (C)
37、rural finance within the industry associations to play a regulatory role 1. U.S. Rural Cooperative Finance Association of self-management. In the United States, various credit associations or co-finance up to several dozen, including a long history, nationally renowned for the National Association o
38、f Credit (CUNA), a specialized credit services for the Federal Register Association (NAFCU), there are also special school credit for community service credit unions and associations (CCUC), etc. While the states also have their own Credit Union Association. The trade association is one of the major
39、 work to develop a code of conduct, self-regulation management. 2. German credit cooperation and other cooperative system of industry self-regulation of mutual integration. German cooperation in the National Credit Union (BVR) is a cooperative bank industry self-regulatory organizations, grass-roots
40、 local cooperative banks, cooperative banks and district central cooperative banks, as well as professional co-finance companies, cooperative credit union is a member. Germany 11 contributions from the various types of cooperatives set up jointly organized a regional cooperative audit association, r
41、esponsible for annual audit of the specialized agencies of the various types of cooperatives, which are also common types of cooperatives at the district level, the industry watchdog, plays an important industry supervisory role. 3. Set supervision and service in one of the Japanese Agricultural Ass
42、ociation. Japanese government in 1947 promulgated the Agricultural Cooperative Law, agricultural association provides services for members of cooperative organizations, its not for profit, adhere to the rural communities and members for the service centers, institutional system based on grass-roots
43、level according to facilitate farmers , established the principle manageable. The main source of funding is to absorb the rural deposits, in principle, limited to serving as a member of the farmers and agricultural groups. To ensure financial security cooperation, and healthy run, set up a rural cre
44、dit insurance, temporary transfers of funds mutual aid system and credit cooperative organizations, and government co-funded deposit insurance system, agricultural disaster compensation system and the agricultural credit guarantee system for the insurance system measures. improve the financial super
45、vision of the concept of rural China(A) improve and perfect the legal system of rural financial regulation, supervision according to law Finance as the core of the economy, the continued growth of rural finance is more in need of legal regulation and a sound legal environment, accelerate the develop
46、ment of rural finance laws, no legal basis to change the situation, has become the strong demand of rural financial development. Since the reform and opening up, no one for rural finance, rural financial regulation can serve as a basis for law. To achieve effective supervision, the need for addition
47、al professional laws, regulations, and specific regulatory measures, regulations and implementation details, so as to achieve from the general administrative supervision to improve the legal system, efforts to establish changed the credit system, and ultimately control law . While in strengthening t
48、he legal system, adopt effective measures to strengthen the integrity of the whole community education and step up publicity to raise awareness of the general financial and legal residents, to actively support the work of the national collective finance; education of the population according to lend
49、ing, and actively with the illegal lending practices fight, really create a sound legal basis, that the law according to the credit environment and legal environment. (B) give full play to grassroots government, professional regulatory function Actively cooperate with local governments at all levels and support the financial regulatory authorities in rural credit markets make an important guarantee for supervision. To actively coordinate local government and non-basic level target consist