The Research on the Withdrawal Mechanisms for Commercial Banks in China–Focused on Bankruptcy Law
| Autor: | Cheng-Hua Tuan, 段政華 |
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| Rok vydání: | 2008 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 97 The schemes for commercial banks to establish and/or to obtain approval in the People's Republic of China (“China”) are relatively complete and thorough. Nevertheless, the Commercial Banking Law of China, The Banking Supervision Law of China and The Law of China on Enterprise Bankruptcy, which was promulgated on August 27, 2006 and effected on June 1, 2007, only contain general provisions in terms of the manners and the procedures of exit mechanism for China commercial banks. There is no other specific, completed or systematic legal structure for commercial banks to exit the market. Commercial banks are special enterprises which operate monetary business. The core function thereof is to receive deposits and provide loans. With the development of economic market and maturity of banking industry, commercial banks have pervaded in every aspects of our social life. Bankruptcy of a commercial bank, therefore, would involve a large number of creditors and, if handled improperly, could undermine the financial safety and even affect the economic stability of the whole country. As a result, all countries in the world have implemented strict supervision on financial institutions in order to insure the safety and soundness of their operation. However, no matter how good the regulatory system or how respectable the management is, the survival-of-the-fittest rule makes inevitable the collapse of banks in such a competitive market. The Law of China on Enterprise Bankruptcy specifically set out the rules for the first time in China to acknowledge the insolvency of financial institutions, including commercial banks. The law also gave the General Office of the State Council, at the same time, the power to draft relevant Implementation Measures regarding financial institutions bankruptcy. These developments together, show that the insolvency of banks has caused great attention to the legislative branch. With the gradual deepening of China's financial reforms, the risks on which a commercial bank is imposed are also being revealed. The appearance of a large number of new privately-owned commercial banks and foreign banks in China not only injected much vitality into the banking industry but also aggravated the competition among banks and raised more risks for the overall banking system. The serious impact and the financial risks China banking industry is facing have made the legal research on commercial banks bankruptcy more necessary and urgent. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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