Improve the concept of financial supervision in rural areas1
Xun Qian
Farmers in China's vast population, has some large-scale production of the farmers, but also survival-oriented farmers, huge differences between the financial needs of rural finance intermediation 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 system 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 finance, 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 of new socialist countryside, which to improve the rural financial supervision new topic.
China's rural financial regulatory problems
(A) the formation of China's financial regulatory system had "a line three commission " (People's Bank, the Securities Regulatory Commission, Insurance Regulatory Commission and the Banking Regulatory Commission) financial regulatory structure. Bank
These 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 costs, 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 between central banks and regulatory agencies is difficult to share, is difficult to create effective monitoring force. Basically between the various
1American Journal of Agricultural Economics，2009.
regulators in their respective state regulators, regulatory policies and measures to overlapping or conflicting phenomena have occurred, unable to cope with China's 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 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 remains 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 the 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 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) China's existing legal system of financial supervision and a number of shortcomings, can not guarantee that financial regulation is 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 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 supervision and regulatory enforcement are to ensure that financial regulation can not be just and reasonable. Finally, China's 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 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. China's mainly rural folk form of finance rural credit cooperatives, Cooperation, private lending, private banks, private funds, microfinance, etc., of which only rural credit cooperatives and microfinance in China's financial supervision under the rest of the financial forms the lack of appropriate supervision. The general lack of rural financial organizations of civil norms, there is a big risk, China's 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 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, cooperative 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 task 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 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 subsidiary bodies, the functions of different, but share the same objectives as a common rural cooperative financial institutions to serve the regulatory system.
2. Germany's "comprehensive regulatory model" of coordination mechanisms. Low concentration of the German banking system, in the very important parts 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, nine 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 involved 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. Germany's main central 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. Japan's "complement each other-type" coordination mechanism. In Japan, the dual supervision of the 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 the 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, County 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 management 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 Insurance Corporation's 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; Japan's 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 safety 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 authorities 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) 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 of 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 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 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, responsible 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 Association. 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 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 credit 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 supervision 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 development 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 additional 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 the 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 lending, 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
consistency, to avoid the expense of national interests and local interests of the occurrence.
The Chinese government should establish a tax system is different from commercial banks, a low tax or tax-free policy, by policy banks to provide
low-interest or interest-free loans of rural finance, rural finance to increase subsidies and assistance. Those relatively large amount of private credit, shall be approved by local authorities just to strengthen the audit checks to the legitimate rights and interests protected.
China's rural economy, small and dispersed operations, has not been large-scale establishment of agricultural insurance, in case of force majeure, the rural financial system will face great risk. Chinese financial institutions in the internal governance structure and risk management system has been initially established, the basic external financial regulation in place of the case, should refer to the experience of developed countries, commercial banks in the country to establish a mandatory deposit insurance system and the emergency rescue system, the formation of three protection network.
(C) strictly rural financial institutions, "access and" to improve the professional standards of financial supervision
Financial regulators should be a good loan companies, postal savings banks, rural credit union funds, village banks and other new-type rural financial institutions, market access, ensure that the new-type rural financial institutions in corporate governance, capital adequacy ratio to meet the requirements. Kind in the country selected the new rural financial institutions, better internal control system, modified to add a representative of management to form the template to help set up rural financial institutions, covering credit, billing, savings, cash, security and other risk point of internal control system . Establish small rural banks and other financial institutions, guidance system, the financial regulators to conduct the transition of its guidance, to promote rural financial institutions to a sound system of internal control as soon as possible, improve management, risk control and management mechanisms work well.
(D) to play the role of industry self-regulatory associations, to promote the vitality and force the formation of the banking sector
China was set up in late 2005, China Banking Association of Rural Financial Working Committee, the current to China Banking Regulatory Commission and the provincial government regulatory framework based on an industry self-regulatory
organization more. Promoting the Development, promoting and developing
self-regulatory functions of trade associations, for building a healthy banking system in China is significant. Association to play a functional role to guide the establishment of liaison mechanisms and management of daily work, and improving the industry conventions and regulations, regulators should not control those, which were needed in the work of regulatory bodies, as far as possible by the association responsible for promoting the formation of the energy and banking efforts to achieve
self-management and trade association national regulatory authorities to monitor the combination system of regulation.
(E) to safeguard the security and financial safety regulation to changes in both the core competitiveness
The nature of financial regulation is intended to innovation and development of the financial industry to create a favorable internal and external environment, rather than constrained the development and expansion of rural finance. For the monitoring and supervision, do not speak the efficiency of regulation, which implies the greatest risk, will affect the long-term development of the rural financial sector.
Conclusion
In short, improving financial supervision in terms of its breadth, should be an include government regulation, industry self-regulation, financial institutions, internal control, four levels of social supervision system; its depth, it should be involved in risk prevention, effective access, legal norms, the operation simple and efficient aspects of a systems engineering. Only by striving to improve the new concept of financial supervision, the introduction of new methods of financial supervision in order to receive financial regulation expected results. Only in this way can be established consistent with China's national conditions, but also to adapt to modern requirements of international financial regulatory system in rural China.
发展中国农村金融监管的思考
Xun Qian
农民在中国人口众多,有一些大型生产的农民,但也自给自足的农民,巨大的金融需求之间的差异使农村金融需求很是复杂,连同农业本身是利润低、自然和
市场风险高的风险决策农业产业特性,软弱的农村金融交易的成本远高于城市,
也决定组织农村金融体系的运行或市场有其自身的特点。20年的金融改革,而中国金融发展了令人印象深刻的成就,但农村金融体系是整个金融体系仍是最弱的一环。供应不足,农村金融竞争依然不足,农民和农业企业贷款和其他的问题也很突出,落后的农村金融体系, 不能再对现代农业发展和改造传统的农业和社会主义新农村建设提供有效地支持,改善农村金融监督管理的新课题。
中国农村金融监管存在的问题
（一）中国的金融监管体系形成了“一行三会”（中国人民银行、证券监督管理委员会、保险监督管理委员会和银行监督管理委员会）的金融监管格局。
这些严格要求的分业经营和多元化监管有它的积极作用，但同时也产生了一些负面影响。第一，效率低下的监督、监督的内部消费金融行业的高成本,限制商业创新和发展空间。第二，监管机构和监管机构之间的信息不对称,中央银行、银行、证券、保险监管机构之间的协调机制不是完美的。中央银行之间的不完全信息和监管机构共享困难，很难建立有效的监控。基本上，监管者在各自的国家部门、管制政策和措施或相互矛盾的现象已经发生重叠，无法面对当前中国农村金融市场的复杂性和多样性等。第三,金融机构的流动性风险或退出市场等方面，可能会由于中央银行救助过度，导致金融机构和金融机构负责人的“能力风险”和“道德风险”，或为金融机构提供监管套利的可能性；另外，由于求助不足，可能会影响整个金融稳定。
（二）农村金融生态环境建设还不完善
目前县域农村的金融生态环境建设工作仍然停留于信用户、村、乡、信用社区建设层面上，“政府主导，人力助推，部门联动”的金融生态环境创建机制在农村地区缺失。地方政府和主管部门对金融生态环境重要性的认识程度不深，个别执行和职能部门地方保护主义较重，还存在干扰金融部门信贷投放等日常业务的情况。农村信用体系建设滞后，失信惩戒机制缺失，农村企业和居民整体信用意识不高，农村金融发展壮大的社会服务和社会保护环境还未形成。
（三）中国现有金融监管的法律体系存在弊端，无法保证金融监管合理、有效地实施
第一，监管法规滞后，配套法规不完善，内容过粗、过于简单，有关银行、证券、保险业监督法律、法规比较陈旧，普遍缺乏科学定量。监管法规标准、监管方式和技术手段不适应市场监管要求。工作人员在实际执行中，不易把握尺度，
可操作性不强。第二，中国监管人员与被监管对象之间有的存在着利益关系，而现行法规中，缺乏对监管执行者的监督，从而无法保证金融监管的公正、合理。最后，中国金融监管仍然难以摆脱行政式监管的惯性影响。
（四）民间金融处于金融监管之外
根据国际农业发展基金的研究报告，中国农民来自非正式金融机构的贷款大约为来自正式信贷机构的4倍。对于农民来说，非正式金融市场的重要性超过了正式金融市场。而中国农村民间金融的主要表现形式有农村信用社、合会、民间借贷、私人钱庄、民间集资、小额信贷等，其中仅有农村信用社和小额信贷处于中国金融监管之下，其余金融形式都缺少相应的监管。农村民间金融组织总体缺乏规范，存在较大风险，中国现有法律法规对农村民间金融机构实行的是“隔离”政策，使得大量资金从暗中注入农村金融市场，更加大了金融监管的难度，对农村金融安全是一个潜在的威胁。
发达国家农村金融监管的借鉴
（一）完善的农村金融外部监管协调机制
1．美国“多元复合式”的协调机制。美国农村金融合作体系由联邦中期信用银行、合作银行、联邦土地银行及联邦土地银行合作社三大系统组成，由农业信用管理局领导，并与该局领导下的私营农村商业信贷银行、国家农村政策性信贷银行共同承担着美国农村融通资金的任务。其组织模式属于典型的多元复合式体制模式，三大系统都有一套自主经营的体制，有明确的职责范围。为保证农村金融机构的健康发展，美国采取了不同于商业银行的监管模式，专门设立了比较健全的农村金融监管体系，包括监管机构、行业自律协会、资金融通清算中心和互助保险集团，这四种机构及其附属机构各自独立、职能各异，但目标一致，形成共同的以农村合作金融机构为服务对象的监管体系。
2．德国“综合监管型”的协调机制。德国银行系统集中程度低，在各地都有很重要的银行，是金融混业经营的代表。联邦银行和联邦金融监管局两个有权监管主体对银行业的监管既有明确分工，又有紧密合作。联邦银行在德国9个州都有分支机构，利用自身网点优势负责每天向联邦金融监管局传送各银行集中的数据，为联邦金融监管局更好行使监管职能提供依据，但它并不直接参与监管工作，也不具有行政处罚权。而联邦金融监管局在各州没有分支机构，很难开展日常监管工作，需要与联邦银行合作履行其监管职能。德国主要依托联邦中央银行和行业审计的监管体制和风险防范与保护系统，保证农村金融在规范的基础上不断发展。
3．日本“相互配合型”的协调机制。在日本，对农村金融实施双重监管：一是政府金融监管厅，对各种金融机构实施监管，以实现整体风险调控；二是全国和地方农林水产部门配合金融监管厅对农村金融机构实施监管，包括农林水产省下设金融科对农林中央金库的监管，农林水产省在六个大区设置农政局对辖区内县信联的监管，以及都、道、府、县农政部对辖内农协合作金融部的监管（二）建立存款保险制度和紧急救援制度，形成三级保护网
发达国家金融体系普遍建立了严格的内部管理制度、存款保险制度和紧急救援制度三级保护网。作为第二级保护网的存款保险制度已经非常完善。美国联邦政府对农村金融的存款统一实行强制保险，具体业务由联邦存款保险公司经营的储蓄协会保险基金承担，并承担对投保金融组织的监督；德国政府对信用合作的存款实行自愿投保，不强制保险，其保险机构是行业组织的；日本的信用合作存款保险是国家强制的，保险机构是官民合营的，由政府、农林中央金库、日本银行、信用联社和渔业信用联社联合组成农水产业保险机构。作为第三级保护网的紧急救援制度各国的具体实施办法不同，对于濒临破产的存款银行，一些国家由中央银行直接提供特别的低利贷款，一些国家由银行管理当局和其他商业银行联合建立特别机构提供资金援救，一些国家由存款保险机构出面提供资金，更多的是由一个或几个大银行在官方的支持下提供支持。
（三）发挥农村金融内部行业协会的监管作用
1．美国农村合作金融行业协会的自律管理。在美国，各种信用社协会或合作金融多达几十个，其中有历史悠久、全国闻名的信用社全国协会，有专门为联邦注册信用社服务的协会，还有专门为社区信用社和校园信用社服务的协会等。同时各州中还有自己的信用社联合协会。这些行业协会从事的主要工作之一就是制定行为规范，进行自律管理。
2．德国信用合作与其他合作社相互融合的行业自律体系。德国全国信用合作联盟（BVR）是合作银行的行业自律组织，基层地方合作银行、地区合作银行及中央合作银行，以及一些专业性的合作金融公司，都是信用合作联盟的会员。德国11家由各类合作社缴纳会费共同组织成立的区域性合作社审计协会，负责一年一次专门对各类合作社机构进行审计，其也是各类合作社在地区一级共同的行业监督组织，发挥着重要的行业监督作用。
3．集监管和服务于一身的日本农协。日本政府于1947年颁布了《农业协同组合法》，规定农协是为社员服务的合作社组织，其不以赢利为目的，坚持以农村社区和社员为服务中心，机构体系根据立足基层、方便农户、便于管理的原则设立。其资金来源主要是吸收农村存款，服务对象原则上限定在作为会员的农户
和农业团体。为了保证合作金融安全、健康地运行，设立了农村信用保险制度、临时性资金调剂的相互援助制度以及政府和信用合作组织共同出资的存款保险制度、农业灾害补偿制度和农业信用保证保险制度等制度措施。
完善中国农村金融监管的思考
（一）完善农村金融监管法律，实现依法监管
金融作为经济的核心，农村金融的持续成长更需要法律的调节和健全的法制环境，加快制定农村金融法规，改变无法可依的状况，已成为当前农村金融发展的强烈要求。改革开放以来，还没有一部针对农村金融、可以作为农村金融监管依据的法律。要实现有效监管，需要制定更多的专业性法规、条例，以及具体的监管办法、规定和实施细则等，从而实现从一般性行政监管向健全法制、努力建立信用体系方面改变，最终实现依法监管。
在加强法制建设的同时，采取有效性措施加强全社会诚信教育，加大宣传力度，提高广大居民的金融法律意识，使其积极支持国家集体金融的工作；教育居民依法借贷，积极同违法借贷行为作斗争，真正地营造一个有法可依、有法必依的信用氛围和法制环境。
（二）充分发挥基层政府中专业机构的监管职能
各级地方政府的积极配合和大力支持是金融监管部门做好农村信贷市场监管的重要保障。要积极地协调地方政府和基层人行目标的非一致性，避免因地方利益而损害国家利益现象的发生。
中国政府应建立有别于商业银行的税收体系，实行低税或免税的政策，通过政策性银行为农村金融提供低息或无息贷款，加大对农村金融的补贴和援助。对那些数额较大的民间信贷，应经当地公正机关公正，加强审核把关，使当事人的合法权益受到保护。
中国农村经济规模小且经营分散，又尚未大规模建立农业保险，在遇到不可抗力因素时，农村金融会遭遇巨大的系统风险。在中国金融机构内部的治理结构和风险管理制度已初步建立，外部金融监管基本到位的情况下，应参照发达国家的经验，在全国商业银行建立强制的存款保险制度和紧急救援制度，形成三级保护网。
（三）严把农村金融机构“准入关”，提高金融监管的专业水平金融监管部门应把好贷款公司、邮政储蓄银行、农村资金互助社、村镇银行等新型农村金融机构的市场准入关，确保新型农村金融机构法人治理结构、资本充足率等符合要求。在全国同类新型农村金融机构中选取较好的内控制度，修改
补充后形成有代表性的管理模板，帮助农村金融机构建立起涵盖信贷、结算、储蓄、现金、保卫等风险点的内控制度。建立对村镇银行等中小金融机构的辅导制度，由金融监管部门对其进行过渡期指导，促使农村金融机构尽快形成内控制度健全、经营管理完善、风险控制和运作良好的经营机制。
（四）发挥行业协会的自律监管作用，促进形成银行业的活力和合力
2005年底，中国成立中国银行业协会农村金融工作委员会，现有的以中国银监会和各省级政府为主的监管构架就多了一个行业自律组织。加强行业协会建设，促进发挥行业协会的自律监管职能，对于构筑健康的中国银行业监管体系意义重大。引导协会发挥职能作用，建立日常工作联系机制和管理办法，完善同业公约及规章，将那些监管部门不宜管，而被监管机构又需要的工作，尽量交由协会负责，促进形成银行业的活力和合力，实现行业协会自律管理与国家监管机构监管相结合的监管体制。
（五）从维护金融安全监管向安全与核心竞争力并重转变
金融监管的本质目的是为金融业的创新和发展营造有利的内部和外部环境，而不是约束农村金融的发展壮大。为监管而监管，不讲效率的监管，都有巨大的风险，会影响农村金融体系的长远发展。
结论
就完善金融监管，从其广度而言，应是一个包括政府监管、行业自律、金融机构自我控制、社会监督四个层次；从其深度而言，应是涉及风险防范、效益获取、法律规范、操作简捷高效等方面的一个系统工程。只有努力完善新的金融监管理念，使用新的金融监管方法，才能收到金融监管的理想效果。也只有这样，才能建立符合中国国情、适应现代化、国际化要求的中国农村金融监管体制。
吉林化工学院理学院 毕业论文外文翻译English Title（Times New Roman ，三号） 学生学号：08810219 学生姓名：袁庚文 专业班级：信息与计算科学0802 指导教师：赵瑛 职称副教授 起止日期：2012.2.27～2012.3.14 吉林化工学院 Jilin Institute of Chemical Technology
1 外文翻译的基本内容 应选择与本课题密切相关的外文文献（学术期刊网上的），译成中文，与原文装订在一起并独立成册。在毕业答辩前，同论文一起上交。译文字数不应少于3000个汉字。 2 书写规范 2.1 外文翻译的正文格式 正文版心设置为：上边距：3.5厘米，下边距：2.5厘米，左边距：3.5厘米，右边距：2厘米，页眉：2.5厘米，页脚：2厘米。 中文部分正文选用模板中的样式所定义的“正文”，每段落首行缩进2字；或者手动设置成每段落首行缩进2字，字体：宋体，字号：小四，行距：多倍行距1.3，间距：前段、后段均为0行。 这部分工作模板中已经自动设置为缺省值。 2.2标题格式 特别注意：各级标题的具体形式可参照外文原文确定。 1．第一级标题（如：第1章绪论）选用模板中的样式所定义的“标题1”，居左；或者手动设置成字体：黑体，居左，字号：三号，1.5倍行距，段后11磅，段前为11磅。 2．第二级标题（如：1.2 摘要与关键词）选用模板中的样式所定义的“标题2”，居左；或者手动设置成字体：黑体，居左，字号：四号，1.5倍行距，段后为0，段前0.5行。 3．第三级标题（如：1.2.1 摘要）选用模板中的样式所定义的“标题3”，居左；或者手动设置成字体：黑体，居左，字号：小四，1.5倍行距，段后为0，段前0.5行。 标题和后面文字之间空一格（半角）。 3 图表及公式等的格式说明 图表、公式、参考文献等的格式详见《吉林化工学院本科学生毕业设计说明书（论文）撰写规范及标准模版》中相关的说明。
Talking about security loopholes Richard S. Kraus reference to the core network security business objective is to protect the sustainability of the system and data security, This two of the main threats come from the worm outbreaks, hacking attacks, denial of service attacks, Trojan horse. Worms, hacker attacks problems and loopholes closely linked to, if there is major security loopholes have emerged, the entire Internet will be faced with a major challenge. While traditional Trojan and little security loopholes, but recently many Trojan are clever use of the IE loophole let you browse the website at unknowingly were on the move. Security loopholes in the definition of a lot, I have here is a popular saying: can be used to stem the "thought" can not do, and are safety-related deficiencies. This shortcoming can be a matter of design, code realization of the problem. Different perspective of security loo phole s In the classification of a specific procedure is safe from the many loopholes in classification. 1. Classification from the user groups: ● Public loopholes in the software category. If the loopholes in Windows, IE loophole, and so on. ● specialized software loophole. If Oracle loopholes, Apach e,
Statistical hypothesis testing Adriana Albu，Loredana Ungureanu Politehnica University Timisoara,adrianaa@aut.utt.ro Politehnica University Timisoara,loredanau@aut.utt.ro Abstract In this article,we present a Bayesian statistical hypothesis testing inspection, testing theory and the process Mentioned hypothesis testing in the real world and the importance of, and successful test of the Notes. Key words Bayesian hypothesis testing; Bayesian inference;Test of significance Introduction A statistical hypothesis test is a method of making decisions using data, whether from a controlled experiment or an observational study (not controlled). In statistics, a result is called statistically significant if it is unlikely to have occurred by chance alone, according to a pre-determined threshold probability, the significance level. The phrase "test of significance" was coined by Ronald Fisher: "Critical tests of this kind may be called tests of significance, and when such tests are available we may discover whether a second sample is or is not significantly different from the first."[1] Hypothesis testing is sometimes called confirmatory data analysis, in contrast to exploratory data analysis. In frequency probability,these decisions are almost always made using null-hypothesis tests. These are tests that answer the question Assuming that the null hypothesis is true, what is the probability of observing a value for the test statistic that is at [] least as extreme as the value that was actually observed?) 2 More formally, they represent answers to the question, posed before undertaking an experiment,of what outcomes of the experiment would lead to rejection of the null hypothesis for a pre-specified probability of an incorrect rejection. One use of hypothesis testing is deciding whether experimental results contain enough information to cast doubt on conventional wisdom. Statistical hypothesis testing is a key technique of frequentist statistical inference. The Bayesian approach to hypothesis testing is to base rejection of the hypothesis on the posterior probability.[3][4]Other approaches to reaching a decision based on data are available via decision theory and optimal decisions. The critical region of a hypothesis test is the set of all outcomes which cause the null hypothesis to be rejected in favor of the alternative hypothesis. The critical region is usually denoted by the letter C. One-sample tests are appropriate when a sample is being compared to the population from a hypothesis. The population characteristics are known from theory or are calculated from the population.
中文3696字 本科毕业论文外文翻译 出处：Infosys Strategic Vision 原文： Insights from Banking Simple By Ashok Vemuri Introduction “A simpler way of banking.We treat with you respect. No extraneous features. No hidden fees.” For the unini tiated, this is the mantra of BankSimple, a Brooklyn-based startup which has positioned itself as a consumer-friendly alternative to traditional banks. BankSimple pushes a message of user experience—sophisticated personal finance analytics, a single “do-it-all” card, superior customer service, and no overdraft fees.Though branchless and primarily online-based, BankSimple is also planning to provide some traditional customer service touches, including phone support and mail-in deposits. Interestingly, BankSimple will also likely not be a bank—at least not in the technical, FDIC sense of the word. Rather, BankSimple’s strategy is to be a front-end focused on the customer experience. The back-end core “bank” component will be FDIC-insured partner banks. Unfettered by years of IT investments and entrenched applications, BankSimple’s team has the freedom to build an innovative, user-friendly online interface, customer service program, and the associated mobile and social bells and whistles that more and more consumers are demanding. One way to look at it is as a wrapper insulating the consumer from the accounting, compliance, and technology challenges that many banks face. Like personal finance sites https://www.doczj.com/doc/2c8163505.html, and Wesabe before it, BankSimple is looking to tap into a perceived gap between what major banks provide and what consumers want. A recent survey by ForeSee Results and Forbes found that consumers view online banking as more satisfying than banking done offline. Though good news for the industry as a whole, the survey also found that the five largest banks in the country scored the lowest in the study. Cheaper and more customer friendly, digital banking is the future—but many consumers are finding it is better done with credit unions, community banks, and (down-the-road) startups like BankSimple. As you read, significant investments are being made by banks to improve their online, mobile, and IVR customer-friendliness. Major banks are embracing these channels, and customer satisfaction will likely improve over time. Even so, startups like Bank- Simple should be viewed as a learning opportunity. Their ideas are disruptive and often highlight pain points that need to be addressed. BankSimple’s first two stated philosophies are a good place to start: “A simpler way of banking” and “We treat you with respect.”
毕业论文（设计）外文翻译 题目：中国上市公司偏好股权融资：非制度性因素 系部名称：经济管理系专业班级:会计082班 学生姓名：任民学号： 200880444228 指导教师：冯银波教师职称:讲师 年月日
译文： 中国上市公司偏好股权融资：非制度性因素 国际商业管理杂志 2009.10 摘要：本文把重点集中于中国上市公司的融资活动，运用西方融资理论，从非制度性因素方面，如融资成本、企业资产类型和质量、盈利能力、行业因素、股权结构因素、财务管理水平和社会文化，分析了中国上市公司倾向于股权融资的原因，并得出结论，股权融资偏好是上市公司根据中国融资环境的一种合理的选择。最后，针对公司的股权融资偏好提出了一些简明的建议。 关键词：股权融资，非制度性因素，融资成本 一、前言 中国上市公司偏好于股权融资，根据中国证券报的数据显示，1997年上市公司在资本市场的融资金额为95.87亿美元，其中股票融资的比例是72.5％，，在1998年和1999年比例分别为72.6％和72.3％，另一方面，债券融资的比例分别是17.8％，24.9％和25.1％。在这三年，股票融资的比例，在比中国发达的资本市场中却在下跌。以美国为例，当美国企业需要的资金在资本市场上，于股权融资相比他们宁愿选择债券融资。统计数据显示，从1970年到1985年，美日企业债券融资占了境外融资的91.7％，比股权融资高很多。阎达五等发现，大约中国3/4的上市公司偏好于股权融资。许多研究的学者认为，上市公司按以下顺序进行外部融资：第一个是股票基金，第二个是可转换债券，三是短期债务，最后一个是长期负债。许多研究人员通常分析我国上市公司偏好股权是由于我们国家的经济改革所带来的制度性因素。他们认为，上市公司的融资活动违背了西方古典融资理论只是因为那些制度性原因。例如，优序融资理论认为，当企业需要资金时，他们首先应该转向内部资金（折旧和留存收益），然后再进行债权融资，最后的选择是股票融资。在这篇文章中，笔者认为，这是因为具体的金融环境激活了企业的这种偏好，并结合了非制度性因素和西方金融理论，尝试解释股权融资偏好的原因。
外文文献翻译（译成中文2000字左右）： As research laboratories become more automated,new problems are arising for laboratory managers.Rarely does a laboratory purchase all of its automation from a single equipment vendor. As a result,managers are forced to spend money training their users on numerous different software packages while purchasing support contracts for each. This suggests a problem of scalability. In the ideal world,managers could use the same software package to control systems of any size; from single instruments such as pipettors or readers to large robotic systems with up to hundreds of instruments. If such a software package existed, managers would only have to train users on one platform and would be able to source software support from a single vendor. If automation software is written to be scalable, it must also be flexible. Having a platform that can control systems of any size is far less valuable if the end user cannot control every device type they need to use. Similarly, if the software cannot connect to the customer’s Laboratory Information Management System (LIMS) database,it is of limited usefulness. The ideal automation software platform must therefore have an open architecture to provide such connectivity. Two strong reasons to automate a laboratory are increased throughput and improved robustness. It does not make sense to purchase high-speed automation if the controlling software does not maximize throughput of the system. The ideal automation software, therefore, would make use of redundant devices in the system to increase throughput. For example, let us assume that a plate-reading step is the slowest task in a given method. It would make that if the system operator connected another identical reader into the system, the controller software should be able to use both readers, cutting the total throughput time of the reading step in half. While resource pooling provides a clear throughput advantage, it can also be used to make the system more robust. For example, if one of the two readers were to experience some sort of error, the controlling software should be smart enough to route all samples to the working reader without taking the entire system offline. Now that one embodiment of an ideal automation control platform has been described let us see how the use of C++ helps achieving this ideal possible. DISCUSSION C++: An Object-Oriented Language Developed in 1983 by BjarneStroustrup of Bell Labs,C++ helped propel the concept of object-oriented programming into the mainstream.The term ‘‘object-oriented programming language’’ is a familiar phrase that has been in use for decades. But what does it mean? And why is it relevant for automation software? Essentially, a language that is object-oriented provides three important programming mechanisms:
论文题目：关于巴塞尔II：新巴塞尔资本协议的影响 学院名称：财经学院专业班级：金融0814班学生姓名：王庆贺 外文题目：Dealing with Basel II: the impact of the New Basel Capital Accord 出处：Balance Sheet,2003,Vol.11(No.4) 作者：Thomas Garside and Jens Bech 译文： 关于巴塞尔II：新巴塞尔资本协议的影响 托马斯·加赛德和杰尼斯·伯克 摘要：国际监管机构在2003年完成新资本协议，银行决定在2006年底执行这个协议。巴塞尔协议是对全球银行业改革的监管。在本文中，我们回顾新巴塞尔资本协议内容以及一些我们所期望对欧洲银行业发生的重要影响。正如在第一届巴塞尔协议修正案（Basel I）中，我们得出结论，新巴塞尔协议不仅对持有资本额的数量做了规定，还对银行业的战略格局进行展望。 关键词：银行，流动性，监管，风险管理 新巴塞尔资本协议的新规则 巴塞尔委员会虽然只是公布了三分之一，但这很可能是协商的最后新资本协议（Basel II）文件。这项建议如获通过，将会深刻地改变银行的偿付能力的方式，监管机构监管银行风险管理实施过程和银行必须对市场参与者公布的风险信息量，经过讨论会，巴塞尔委员会预计将在2003年底发布的新资本协议的最后草案。 目前的巴塞尔资本协议（Basel I）对达到加强国际金融体系的稳定的既定目标已经有了显著成效，通过在不同国家持续应用本协议的同时，增加了资本水平，创造了一个更公平的竞争领域。总的来说，目前的全球一级资本的平均水平从1993年的约6%升至8%，此外，巴塞尔资本协议已经应用于100多个国家，远远超过最初的预期。 尽管实现其最初目标的成效很明显，很显然，对于巴塞尔我有一些意想不到的不
软件专业毕业论文外文文献中英文翻译 Object landscapes and lifetimes Tech nically, OOP is just about abstract data typing, in herita nee, and polymorphism, but other issues can be at least as importa nt. The rema in der of this sect ion will cover these issues. One of the most importa nt factors is the way objects are created and destroyed. Where is the data for an object and how is the lifetime of the object con trolled? There are differe nt philosophies at work here. C++ takes the approach that con trol of efficie ncy is the most importa nt issue, so it gives the programmer a choice. For maximum run-time speed, the storage and lifetime can be determined while the program is being written, by placing the objects on the stack (these are sometimes called automatic or scoped variables) or in the static storage area. This places a priority on the speed of storage allocatio n and release, and con trol of these can be very valuable in some situati ons. However, you sacrifice flexibility because you must know the exact qua ntity, lifetime, and type of objects while you're writing the program. If you are trying to solve a more general problem such as computer-aided desig n, warehouse man ageme nt, or air-traffic con trol, this is too restrictive. The sec ond approach is to create objects dyn amically in a pool of memory called the heap. In this approach, you don't know un til run-time how many objects you n eed, what their lifetime is, or what their exact type is. Those are determined at the spur of the moment while the program is runnin g. If you n eed a new object, you simply make it on the heap at the point that you n eed it. Because the storage is man aged dyn amically, at run-time, the amount of time required to allocate storage on the heap is sig ni fica ntly Ion ger tha n the time to create storage on the stack. (Creat ing storage on the stack is ofte n a si ngle assembly in structio n to move the stack poin ter dow n, and ano ther to move it back up.) The dyn amic approach makes the gen erally logical assumpti on that objects tend to be complicated, so the extra overhead of finding storage and releas ing that storage will not have an importa nt impact on the creati on of an object .In additi on, the greater flexibility is esse ntial to solve the gen eral program ming problem. Java uses the sec ond approach, exclusive". Every time you want to create an object, you use the new keyword to build a dyn amic in sta nee of that object. There's ano ther issue, however, and that's the lifetime of an object. With Ian guages that allow objects to be created on the stack, the compiler determines how long the object lasts and can automatically destroy it. However, if you create it on the heap the compiler has no kno wledge of its lifetime. In a Ianguage like C++, you must determine programmatically when to destroy the
农村社会养老保险的现状、问题与对策研究社会保障对国家安定和经济发展具有重要作用，“城乡二元经济”现象日益凸现，农村社会保障问题客观上成为社会保障体系中极为重要的部分。建立和完善农村社会保障制度关系到农村乃至整个社会的经济发展，并且对我国和谐社会的构建至关重要。我国农村社会保障制度尚不完善，因此有必要加强对农村独立社会保障制度的构建，尤其对农村养老制度的改革，建立健全我国社会保障体系。从户籍制度上看，我国居民养老问题可分为城市居民养老和农村居民养老两部分。对于城市居民我国政府已有比较充足的政策与资金投人，使他们在物质和精神方面都能得到较好地照顾，基本实现了社会化养老。而农村居民的养老问题却日益突出，成为摆在我国政府面前的一个紧迫而又棘手的问题。 一、我国农村社会养老保险的现状 关于农村养老，许多地区还没有建立农村社会养老体系，已建立的地区也存在很多缺陷，运行中出现了很多问题，所以完善农村社会养老保险体系的必要性与紧迫性日益体现出来。 （一）人口老龄化加快 随着城市化步伐的加快和农村劳动力的输出，越来越多的农村青壮年人口进入城市，年龄结构出现“两头大，中间小”的局面。中国农村进入老龄社会的步伐日渐加快。第五次人口普查显示：中国65岁以上的人中农村为5938万，占老龄总人口的67.4%.在这种严峻的现实面前，农村社会养老保险的徘徊显得极其不协调。 （二）农村社会养老保险覆盖面太小 中国拥有世界上数量最多的老年人口，且大多在农村。据统计，未纳入社会保障的农村人口还很多，截止2000年底，全国7400多万农村居民参加了保险，占全部农村居民的11.18%，占成年农村居民的11.59%.另外，据国家统计局统计，我国进城务工者已从改革开放之初的不到200万人增加到2003年的1.14亿人。而基本方案中没有体现出对留在农村的农民和进城务工的农民给予区别对待。进城务工的农民既没被纳入到农村养老保险体系中，也没被纳入到城市养老保险体系中，处于法律保护的空白地带。所以很有必要考虑这个特殊群体的养老保险问题。
专业外文翻译 题目JSP Technology Conspectus and Specialties 系（院）计算机系 专业计算机科学与技术 班级 学生姓名 学号 指导教师 职称讲师 二〇一三年五月十六日
JSP Technology Conspectus and Specialties The JSP (Java Server Pages) technology is used by the Sun micro-system issued by the company to develop dynamic Web application technology. With its easy, cross-platform, in many dynamic Web application programming languages, in a short span of a few years, has formed a complete set of standards, and widely used in electronic commerce, etc. In China, the JSP now also got more extensive attention; get a good development, more and more dynamic website to JSP technology. The related technologies of JSP are briefly introduced. The JSP a simple technology can quickly and with the method of generating Web pages. Use the JSP technology Web page can be easily display dynamic content. The JSP technology are designed to make the construction based on Web applications easier and efficient, and these applications and various Web server, application server, the browser and development tools work together. The JSP technology isn't the only dynamic web technology, also not the first one, in the JSP technology existed before the emergence of several excellent dynamic web technologies, such as CGI, ASP, etc. With the introduction of these technologies under dynamic web technology, the development and the JSP. Technical JSP the development background and development history In web brief history, from a world wide web that most of the network information static on stock transactions evolution to acquisition of an operation and infrastructure. In a variety of applications, may be used for based on Web client, look no restrictions. Based on the browser client applications than traditional based on client/server applications has several advantages. These benefits include almost no limit client access and extremely simplified application deployment and management (to update an application, management personnel only need to change the program on a server, not thousands of installation in client applications). So, the software industry is rapidly to build on the client browser multilayer application. The rapid growth of exquisite based Web application requirements development of
Improve the concept of financial supervision in rural areas1 Xun Qian Farmers in China's vast population, has some large-scale production of the farmers, but also survival-oriented farmers, huge differences between the financial needs of rural finance intermediation 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 system 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 finance, 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 of new socialist countryside, which to improve the rural financial supervision new topic. China's rural financial regulatory problems (A) the formation of China's financial regulatory system had "a line three commission " (People's Bank, the Securities Regulatory Commission, Insurance Regulatory Commission and the Banking Regulatory Commission) financial regulatory structure. Bank These 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 costs, 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 between central banks and regulatory agencies is difficult to share, is difficult to create effective monitoring force. Basically between the various 1American Journal of Agricultural Economics，2009.