Chapter three : the financial operation system in china also witnessed a series of reforms . and it analyses the " sub - mixed operation system " which includes the cooperation between the money market and capital market and the mixed financial conglomerates in china as well . in 1989 . the government began to regulate the financial market by enacting a series of laws and regulations and setting up supervisor ) " institutions such as ssc and isc managing banking . security . insurance and trust sectors separately . the separated management of financial system has been basically shaped in 1998 . but over the past few years . the separated system in china is somewhat loosen due to the effect of international trend of financial integration . the money market , capital market and insurance market are to some extent permitted to cooperate with each other by the government . many financial institutions make mixed financial conglomerates to extent their operation field . the banking capital and insurance also have access to the security market in some way and to some size . and the appearance of mixed financial conglomerates push our financial sectors into the mixed operation 包括逐步实现利率的市场化;加强金融法规的建设;加强金融监管力度，建立安全稳定的金融监管体系;加快我国资本市场的建设;加快金融企业的上市工作，增强金融企业的竞争力;加快银行改革的步伐，建立银行的内控制度和风险约束机制。二是金融业务的相互交叉化、融合化。在组织模式方面，金融企业可以通过收购、兼并、重组等手段组建集银行、证券、保险、信托、实业于一身的大型金融控股集团;在资金流动方面，可以加强金融企业之间的资金流动，通过开发更多、更好、更安全的资金流通渠道，促使资金的合理流动和充分利用;在业务合作方面，银行、证券、保险三方之间相互合作，通过业务代理、开发交叉业务、共享客户等方面开展全方位的合作。
As the financial supervision of our country began relatively late , it is more insufficient compared with the international financial supervision . for the opening of the financial market in a few years , we must make perspective improvement in the following several respects : l . set about supervisory system unified with not only bank but also insurance and securities 我国的金融监管起步较晚，与国际金融监管比较存在许多不足，为迎接几年后金融市场的开放，必须在以下几个方面做出前瞻性的改进： 1 、着手建立统一的金融监管体系。
A large quantity mass of literatures indicates that it doesn ? t exist an identical conclusion about the influence of capital account liberalization on the financial system . some of them support that capital account liberalization benefits the development of financial system , while someone points that capital account liberalization aggravate the financial system instability 因此,对于包括中国在内的发展中国家而言,除了保持宏观经济的稳定发展,更为重要的是要逐步建立起金融体系的自律机制和有效的金融监管体系,才能在资本账户开放过程中,保证金融体系的稳定发展。
At present , first , market - oriented withdrawal should be introduced to financial institutions , and establish a deposit insurance system . to enhance the operational efficiency of informal finance , informal financial services system should be established . at the same time , the supply of formal financial should be increased to ease financial constraints , deepen financial reform and opening up various investment channels , guide the direction of social investment to attract back some of the capital diverted by the informal financial 首先政府要转换角色定位,对各种非正规金融要区别对待,而非一味取缔;为保证金融安全,应将非正规金融纳入金融监管体系,并建立有效的危机处理系统,在我国当前来说,一是要实行市场化退出,二是要建立存款保险制度;为提高非正规金融的运作效率,应建立非正规金融的服务体系;同时,增加正规金融供给,缓解金融抑制,深化金融改革,开辟多种投资渠道,加强对社会投资的引导,可吸引回部分被非正规金融分流的资本。
China " s financial reform has contributed greatly to its economic development , but its existed reform performed as the expansion of the quantity instead of the improvement of the quality , with its specific functions as : low efficiency of financial operation , weak competitive power of the financial institutions and relatively later development of non - bank financial institutions , improper structures of financial products and less developed financial market , deregulation of the behavior of the interest rate vehicle and lack of elasticity due to its improper structure , and low efficiency in financial supervision system etc . finance has become the core of modern economy 中国的金融深化改革对中国的经济发展作出了突出贡献，但是，中国既有的金融改革主要体现为数量的扩张，而非质的进步，具体表现在金融运作效率较低、金融机构竞争力不强、非银行金融机构发展相对滞后、金融工具结构偏畸、金融市场欠发达、利率运作主体行为不规范、利率结构不尽合理、利率缺乏应有的弹性、金融监管体系缺乏效率等。
In the last part , the situation of the application of ec is outlined , and the facts that impeded the development of ec are presented : the imbalance of supply and demand with regard to the infrastructure of network , the lackey of confidence of consumer and firms on ec because of the lackey of credit in economy life , and the difficulties of how to adapt to and protect the new product style of ec by state legal system . we pointed out that , several aspects , such as fiscal tax revenue , law and enactments , the safety of information , admission of market , the perspectives of information , and technolocrats , will persistently impeded the development of ec . in china , the application of ec should be dominated by firms and conducted by government , which should as soon as possible enact the relative law regarding to taxation , electronic paying , digital signature , certification authority , intellectual property on web , etc . the national physical distribution system , the financial monitory system , the system of credit of firms as well as consumers should be completed 在最后一个部分，文章简述了我国电子商务应用的现状，用博弈论方法分析了制约我国电子商务应用发展的几个主要原因:网络基础设施的供需失衡、经济生活中的信用意识缺乏导致的消费者和企业对电子商务应用中的普遍的不信任及国家法律制度如何适应和保护电子商务这种新的生产方式等，并指出，财政税收、法律法规、信息安全、市场准入、信息观念、技术人才等几个方面的问题将是长期阻碍电子商务发展的因素，电子商务在我国的应用要走企业为主体、政府引导的路子，政府应尽快制定有关税收、电子支付、电子签名、身份认证、网上知识产权等方面的法律法规，建立覆盖全国的现代化物流配送体系，健全和完善金融监管体系，特别是企业信用体系和消费者信用体系的建设，大力推进企业信息化建设，创造发展环境，完善保障机制，加快人才培养。
Firstly , it is certain that there are system risk and market inefficiency in financial system , so the government who acts as the public interest should of course assume the duty of financial supervision . secondly , since there is government inefficiency , there must be perfect financial supervision system , and which should be controlled by laws 而政府的金融监管也可能存在失灵的时候，要做到少失灵甚至不失灵，就必须构建一个完善的金融监管体系，同时使金融监管也受到法律的制约，即金融监管的实施必须有法律依据。
The article is divided into four parts and discusses the problems about adaptability of financial supervision under new conditions from multiple angles . so far studying accomplishments on adaptability of financial supervision are rare and systemless , therefore firstly author interprets its concept and contents in part1 . from fundamental sense , it can be defined as the adaptability and adjustability of financial supervision system of one country or area under some international and interior conditions , and from composing factors of financial supervision system , the comprehensive reflection of adaptability or harmony between supervisory objects , principles , models , measures , contents and financial surrounding 当前有关金融监管适应性的研究成果不为多见，理论上也缺乏对金融监管适应性的系统论述，第一部分首先对金融监管适应性进行了必要的概念解释和内容界定，笔者从一般意义上将“金融监管适应性”定义为，在一定的国际和国内金融经济环境下，一个国家（或地区）的金融监管体系对金融环境的适应程度和应变能力，从金融监管体系的具体组成因素角度出发，则是特定时期的金融监管目标、原则、方式、手段及内容与金融环境适应性、协调性的综合反映。
