中国金融控股公司监管及优化对策研究——基于中美比较的视角  

The Research on Supervision and Its Optimization of Financial Holding Companies in China:From the Perspective of Comparison between China and the United States

作　　者：王康 朱锦强 WANG Kang;ZHU Jin-qiang

机构地区：[1]中信集团董事会办公室

出　　处：《中央财经大学学报》2021年第12期34-44,共11页Journal of Central University of Finance & Economics

摘　　要：规范金融控股公司发展,加强对金融控股公司的监管,是深化我国金融改革,推动金融综合经营和产融结合高质量发展的重要举措。美国最早诞生金融控股公司,并建立了相应监管体系,一些经验值得借鉴。笔者通过比较分析中美两国金融控股公司监管体系,对我国金融控股公司的监管优化提出对策建议。研究认为,当前中美两国对金融控股公司的监管,在监管模式上有共同之处,但在具体监管上仍有较大不同,这是由两国不同的政治、经济体制决定的,也与两国不同的金融控股公司成因相关。美国金融控股公司的监管是对高质量银行控股公司给予的业务松绑,重点是规范引导金融混业经营;我国金融控股公司并不是传统意义上所理解的美国金融控股公司的概念,其主要针对的是企业集团产融结合的情形,是企业集团内部要素传导和外部环境约束综合作用的结果,既有企业集团内部规模、效益、质量因素的驱动作用,也有政策和市场导向的外部诱因。研究提出,未来我国金融控股公司的监管优化,要进一步突出准入监管、持续监管和提升监管的全面性、权威性、协同性。Standardizing the development of financial holding companies and strengthening the supervision of financial holding companies are important measures to deepen the financial reform and promote the high-quality of comprehensive financial operation and the combination of industry and finance.The first financial holding company was born in the United States and the corresponding regulatory system was established afterward.Some experience can be learned from them.This paper makes comparisons on the main regulatory framework of financial holding companies between China and the United States,and puts forward measures and suggestions for the optimization of the supervision of financial holding companies in China.According to this research,the current supervision of financial holding companies in China and the U.S.has something in common in terms of supervision modes.However,there are still great differences in specific supervision,which is determined by the different political and economic systems of the two countries.In addition,the difference is related to the evolution of financial holding companies of the two countries.The supervision mode of financial holding companies in the U.S.is to loosen the business restrictions for high-quality bank holding companies,aiming at standardization and guide the financial mixed operation.While China's financial holding company is not the same as American financial holding company in traditional sense,it mainly aims at the combination of industry and finance of enterprise groups.The combination of industry and finance of holding companies in China is the result of internal factors transmission and external environment constraints.It is driven by internal scale,efficiency and quality factors,and also by external incentives,i.e.policy and market orientation.This paper proposes that the future supervision optimization of financial holding companies in China needs to be further highlighted on the access supervision,continuous supervision and enhancement of the comprehensiveness,authorit

关 键 词：金融控股公司 监管 中美比较 

分 类 号：F83[经济管理—金融学]