Abstract: In 2023, China faced severe new domestic and international situations in the construction of the legal system of financial stability. In terms of legislation, the making of the Financial Stability Law had been steadily advanced. A number of laws and regulations related to financial stability had been included in the central legislative plan. New progress has been made in the drafting of a number of laws and regulations related to financial stability. Local governments continued to actively explore local legislation on financial stability. In terms of law enforcement, financial stability law enforcement agencies and their working mechanisms had been further improved, new progress had been made in resolving real estate financial risks in accordance with the law, the work of resolving risks in small and medium-sized financial institutions in accordance with the law had been carried out in depth, the work of preventing and resolving local debts in accordance with the law had been steadily advanced, remarkable results had been achieved in the prevention and resolution of foreign exchange risks in accordance with the law, and illegal financial activities had been severely cracked down in accordance with the law. In terms of administration of justice, financial stability judicial institutions had been further improved, judicial cases related to financial stability had been effectively dealt with, and theoretical research and work exchanges in the field of financial stability justice had been further promoted. China will further consolidate and implement the reform of the financial system, continuously improve the legal system of financial stability, actively advance financial stability legislation, and accelerate the revision or amendment of laws and regulations related to financial stability; and comprehensively strengthen financial supervision, continue to effectively prevent and resolve risks in key areas, further strengthen financial judicial work, and comprehensively improve the judicial capacity for financial stability.

Key Words: the legal system of financial stability in China; financial stability legislation; financial stability law enforcement; financial stability justice

Author: Xiao Jing, associate research fellow, CASS Institute of Law, and Mu Hongmei, graduate student, the University of Chinese Academy of Social Sciences;

Source: Report on the Development of the Rule of Law in China No.22 (2024), Social Science Academic Press, April 2024.