Reform of China's Financial System

Since 1979 China has adopted a series of measures to reform its financial system. These measures involved establishing the macro control system of the central bank. setting up policy banks, perfecting the financial organization system, developing commercial banks and the monetary market, and reforming the foreign currency management system. The reforms of the past 15 years have brought great changes to China’s financial system. The old unified banking system was broken and diversified financing institutes emerged. Now a financial system comprising the central bank, specialized banks, commercial banks, insurance companics, trust

Exploring the 2023 Reformation of Financial Systems in Higher Education Institutions and Examining the Practical Aspects of its Execution

As China’s economy has experienced rapid growth,the economic landscape for higher education institutions’financial systems has become increasingly intricate.Consequently,there has been a heightened demand for enhanced financial management in these institutions.Notably,in 2012,the country’s Ministry of Finance and Ministry of Education introduced a new financial system for higher education institutions,and in 2022,the Ministry of Finance publicly revised this system to further standardize financial practices within higher education institutions,align with financial management requirements,and foster the development of these institutions.This paper offers an extensive examination of the updated financial system for higher education institutions compared to the previous version,delving into aspects such as the financial management framework,professionalization criteria for financial directors,enhancements in managing the proceeds from technology and research achievements,and the incorporation of management accounting reports.Additionally,it provides a comprehensive analysis of the challenges faced by financial management in higher education institutions and outlines strategies for addressing these issues.

Research on Cooperation Mechanism of China's Financial Regulation and Supervision System

Financial regulation and supervision is an important subject in finance research. After the U. S. subprime mortgage crisis,the weakness in this field becomes the research focus. Every country attaches importance to strengthen the financial supervision and management. But the financial regulatory system is a large system,and the process of model building and index selection is very complicated. A model for China's financial regulation and supervision system was proposed and a system evaluation method was improved. A more exact result was drawn by choosing 2003- 2009 index data.

The Impact of“Fintech+Financial Regulation”Matching Level on Financial Risk:Evidence from China

Preventing financial risk is an important topic that academic circles and the government have paid attention to for a long time.The development of fintech and the improvement of financial regulation will affect the level of financial risk.The relationship between the degree of matching between fintech and financial regulation and financial risk is explored,which is crucial for reducing financial risk.Panel data from 31 provinces in China from 2011 to 2020 is used to explore the impact of fintech and financial regulatory matching levels on financial risk.The study finds that the improved matching level between fintech and financial regulation helps reduce financial risk.The degree of matching between fintech and financial regulation affects financial risk through financial efficiency.

Exploration of Financial Management Curriculum Reform in Vocational College

As the core course of finance and accounting major,the study of financial management knowledge plays a positive role in promoting students’understanding of the whole financial work and enriching financial knowledge.This paper analyzes the necessity of financial management curriculum reform,from the design ideas,teaching content,teaching mode,and teaching methods of several aspects of vocational college financial management curriculum reform work carried on the preliminary thinking,hoping to improve the teaching quality of this course will be helpful.

Reforming Financial Regulatory System in China after the Stock Market Turbulence：Problems and the Responses

In an age when modern financial companies have become more and more complex,and if not adequately supervised,they can cause lethal harm to the stability of one's financial system.In post-financial crisis era,major developed economies have apparently reinforced the function of the central bank in a country's financial regulatory system.Over the past several years,China has witnessed the huge changes in the financial sector but the financial regulatory framework remains the same as before.The Chinese stock market crash that began on June 12 2015 has urged the domestic regulators to restructure its financial regulatory system.The issue that which modal China should follow has perplexed Chinese policymakers.The governor of People's Bank of China,Zhou Xiaochuan,clearly responded to the problem concerning the current financial regulatory system,and indicated that Chinese regulators and policymakers had still studied the regulatory approach China would adopt during the press of People's Congress of 2016.This paper reviews the development of China's banking regulatory system points out the deficiencies in its original system and analyzes the recent trends of financial regulatory reform in UK to learn the international experience for further reform regarding financial regulatory system in China.

Exploring the Application of Refined Management in University Financial Management

The refined management of university finances primarily involves optimizing management methods and continuously improving financial management levels.This process helps enhance fund utilization efficiency,optimize resource allocation,ensure the rational use of educational funds,and provide solid financial support for the development of teaching,research,and other university undertakings.This paper explores the application of refined management in university financial management.

Research on Financial Management Issues and Countermeasures in Chinese Higher Education Institutions

With the continuous deepening of educational reform and the rapid development of higher education,as an important battlefield for knowledge dissemination,scientific research innovation,and social services,the financial management level of universities directly affects the efficiency of resource allocation,improvement of teaching quality,and sustainable development ability of the school.However,in the context of rapid expansion and diversified development,financial management in universities faces many challenges and problems.If not solved,it will inevitably negatively impact the management of universities and restrict their development.This article aims to deeply analyze the main problems in current financial management in universities and propose corresponding countermeasures and suggestions,to provide reference for improving the efficiency of financial management in universities.

Research on Financial Performance of State-owned Enterprise Mixed Ownership Reform

Mixed ownership is an important form of realization of China＇s economic system reform and development, and it is also the main direction of state-owned enterprise reform. In order to further promote the deepening of the reform of mixed ownership, this paper randomly selects 200 listed state-owned enterprises as research objects, and studies the trends of the financial performance of these enterprises from the mixed state-owned enterprises and non-mixed-modification enterprises in the five years from 2013 to 2017, and compares their various trends. Financial indicators, a comprehensive evaluation of the problems and causes in the reform of the mixed ownership system, and then propose countermeasures to further deepen the reform of mixed ownership based on the research conclusions.

Reflection on the Basic Orientation of China's Policy-Oriented Financial System

At present stage,active exploration and healthy development of China’s policy-oriented financial system is hindered by such problems as unclear understanding of policy finance,dislocation of the functions of policy banks and so on.While sticking to pushing forward the reforms of market-oriented financial system and fully improving the efficiency of the financial system,we must correctly handle the relationship between policy finance and commercial finance,re-examine the position and role of policy finance in the entire financial system of the country,take the policy-oriented financial system as one of the important parts of financing of the social funds,make up and fill in reasonably the"intermediate zone"between the direct fiscal expenditures and commercial financing,pursue the transition of the mechanism relying on government financial resources,realize the multiplexing effect of efficiency promotion,serve the comprehensive,coordinated,sustainable and unified development required by the concept of scientific development and catching-up and breakthrough at some strategic focuses.

Credit risk constraint mechanisms in rural financial reform

To research the operating mechanisms of rural financial reform, through setting up a contract model, the constraint roles of reputation and legal intervention on the default risk arising in the operating of the credit union funds are inspected. Analysis indicates that the increase in reputation cost can reduce the probability of union member default behavior and the probability of turning to the law for the credit union funds. Meanwhile, the amount of loans and the interest rates can increase the probability of turning to the law for the credit union funds. Below the marginal values, the penalty mechanisms can reduce the balancing probabilities of member default behavior and turning to the law for the credit union funds, namely, the penalty has some "substitution effect" for turning to the law for the credit union funds.

Global Financial Regulations:An Antidote to Economic Predicament

Due to the lack of public order in the international financial arena, asset bubbles and resource misallocations persisted over a long period of time and resulted in global financial crisis in 2008. Global financial rules, which can take on a role like that of WTO in the international trade, are urgently needed for global economic recovery. They will balance the pressure of economic restructuring between large and small countries, and push forward some countries' domestic reforms which may hardly be implemented due to domestic politics.

RegTech:Theory and Practice in Technology-Driven Financial Regulation

As a disruptive innovation,FinTech has posed risks in the financial industry that are more unidentifiable,sweeping,disruptive and influential.Given these new developments,deeper regulatory reform has become necessary to safeguard national financial security,and prevent and dissolve financial risks.On March 11,2021,the 14th Five-Year Plan'endorsed by the Fourth Session of the 13th National People's Congress stressed that China will improve the modern financial regulatory system and shore up our weaknesses in the regulatory system,and boost the application of regulatory technology and financial innovation risk assessment.This marks that the establishment of a technology-driven financial regulatory framework has been put on the agenda.Based on an analysis of the essential implications and drivers of RegTech innovation,this paper discusses the theoretical logic of RegTech innovation.Technology enables intelligent regulatory processes,efficient information processing and robust risk control.The restructuring of the regulatory system has revealed shifts in regulatory paradigms.These include a shift from passive response to proactive change,a shift toward positive interactions between regulators and industry players,as well as more close coordination among regulators.These changes have resulted in more adaptable and efficient regulation.After summarizing foreign experience and Chinese practice,this paper presents optimal pathways for RegTech innovation in China in the following aspects:consolidating the rule-of-law foundation for RegTech innovation,speeding up institutional reforms,improving policy services,strengthening infrastructure development,and building multiparty cooperation mechanisms.This study serves as a reference for building a technology-centric modern financial regulatory system and a sound environment forFinTechdevelopment.

What Is the “China Model” of Financial Reform?

Based on a comparative study of China’s three-decade financial system reform and the financial reform model of Russia and selected Eastern European countries, we found noticeable discrepancies between China and other transitional countries in respect to objective setting, path and sequence selection, power sources and advancement strategy. We conclude that a "China model" of nancial system reform does exist. The formation and evolution of the "China model" is closely related to China’s special political and economic environment. More importantly, it is significantly influenced by China’s overall economic reform model as well.

The Accounting Reform in the Brussels-capital Region： New Tool for Financial Analysis

In the last 20 years, public administrations in Belgium have completely reformed their accounting systems. The new system consists in combining double-entry general accounting with budgetary accounting, which is traditional in the public sector. The accounting reform of 2003 marks a turning point in the history of accounting of the federal State and federated entities （regions and communities）. The Brussels-capital region is the first federated entity to embark on the adventure and implement the new accounting system in 2006. The aim of this article is to introduce the legislative framework and the different implementation steps of the accounting reform in the Brussels-capital region and to provide a financial analysis of the region. The objective is to see if the region has a good financial situation. To do this, this paper analyses the data from the balance sheet and the income statements from 2008 to 2011. On one hand, it analyzes the evolution of the region＇s different results; and on the other hand, it presents different financial ratios. It also analyzes the evolution of the regional debt. This paper concludes that, although expenses and the debt are increasing, the situation of the region is not worrying, because of good budgetary performances, sophisticated financial management, and law loans rates. Even if the results of the analysis don＇t have to be interpreted as the same way as for a private company, the annual accounts provide interesting information that can be used to improve public finance.

How to Offset Interior Debts in Consolidated Financial Statement for Reformed Group Enterprises

The content items to be offset of the reformed debt in consolidated financial statement of the operation occurred inside the group of enterprise is different from other general inner trades such as the sale of the stock or fixed asset, etc.. Through the reformed debt, the debtor and creditor have erased debt and credit on their bookkeeping. What to be offset are the capital reserve and the changed value of the asset. In this paper, the offsetting method of such items will be discussed.

Existing Problems and Countermeasures in Financial Securities Market Regulation

At the present stage,with the continuous development of social economy and science and technology,China's financial and securities industry has gradually developed.As an important part of China's socialist economic market,including the financial and securities industry,therefore,to a certain extent,the development of the financial securities industry has promoted the prosperity and development of China's economy.In other words,strengthening the management of financial securities market regulation can promote the sustainable development of the securities industry,thereby promoting the rapid development of China's economy.This paper mainly discusses and expounds some problems existing in the current process of financial securities market regulation,and proposes solutions to it,hoping to be helpful to the financial securities industry.

How to Promote Financial Management Level of Public Hospital under the New Medical Reform

Following the continuous development of our country's economy,the new medical reform of our country is also gradually speeding up.And potential problems existing in public hospital's financial department are being gradually magnified that has brought new challenge to financial management.The financial staff are studying the problems and trying to solve the problems through their working experiences from long-term practices and on a certain basis.Therefore,in this article,we try to find out the existing problems and to explore efficient solutions to the problems under the background of new medical reform and in the light of the importance of financial management to public hospital's development.The main purpose of this study is to try to solve the existing problems in financial management of public hospital so as to promote perfecting the systems of public medical institutions to get a better development.

State Council Issued the “Regulations on the Control of Foreign Funded Financial Institutions”

The Xinhua News Agency has released the full text of the No.340 order of the State Council signed by Premier Zhu Rongji, on the publication of the Regulations of the People’s Republic of China on the Control of Foreign Funded Financial Institutions, which will take effect on the date of February 1 in 2002.