摘要：在金融综合经营趋势下，国内一些大型金融机构逐步尝试综合化经营，而部分非金融机构也出于自身的利益诉求纷纷涉足金融业务，形成了数量众多、协同程度不一和管理架构各异的具有中国特色的金融控股公司。在缺乏有效监管的情况下，一些由金融控股公司所引发的金融乱象不断，金融风险逐渐凸显，对当前中国金融市场的稳定带来严峻挑战。本书围绕金融控股公司统筹监管问题开展研究，就金融控股公司的基本概念、国内外发展及监管挑战进行深入分析，并就市场化恢复与处置和破产重组机制等问题进行专题研究，力求为中国金融控股公司监管提出合理化建议。

本书第一章结合《金融控股公司监督管理试行办法（征求意见稿）》，针对我国银行系、非银行金融机构系、央企系、地方政府系、民营系和互联网系等六种类别的金融控股公司存在的主要问题，提出了10条进一步完善和加强金融控股公司监管的政策建议。第二章对金融控股公司进行了全面介绍，分析了金融控股公司发展根源、理论基础和实践。接下来重点探讨了美国、欧盟、英国、日本以及中国台湾等地区的监管模式，并就其优劣进行了多维度的再比较。然后，基于金融控股公司的复杂内在关联性或系统重要性，重点分析了欧盟、美国、英国金融控股公司的市场化恢复及处置计划，以及极其专业且复杂的破产重组问题，并就我国的市场处置机制和破产重组机制提出相关对策建议。随后基于金融控股公司的审慎监管原则，提出要有效管控金融控股公司的风险，在设计相关监管规则时，应当坚持微观审慎与宏观审慎相结合，定性评价与定量考核相统一，在此基础上对中国金融控股公司提出监管建议。最后结合数字经济、金融科技、监管科技等对金融发展的影响，尤其是对混业经营和金融控股模式的影响，展望了金融控股公司的新发展。

关键词：金融控股公司 监管 对策建议

Abstract: Financial integrated operation has become a trend in China,to keep up with which,some large financial institutions are adopting a comprehensive way in operation,while some non-financial institutions also involve themselves in financial business for their own interests.Thus,a number of Financial Holding Companies with Chinese characteristics come into being.They vary in synergy levels and management structures.However,in the absence of effective supervision,financial chaos caused by these companies emerge continuously and financial risks are highlighted,which brings severe challenges to the stability of China's financial market.This book focuses on the overall supervision and administration of Financial Holding Companies,including intensive analysis of basic concepts,domestic and overseas development and regulatory challenges,and special studies on market-oriented recovery and disposal,bankruptcy and reorganization mechanism and other issues,as well as suggestions for the supervision and administration of China's Financial Holding Companies.

In the first chapter,ten policy suggestions are made to improve the regulation of Financial Holding Companies,based on analysis of the Interim Measures for the Supervision and Administration of Financial holding Companies（Exposure Draft）and existing problems within 6 kinds of Financial Holding Companies（respectively attached to banks,non-bank financial institutions,state-owned enterprises,lo cal governments,private companies and internet）.The second chapter makes a comprehensive introduction on Financial Holding Companies,including their origin,theoreti cal foundation and practice.After that,a comparative study is conducted on the regulatory models in the U.S.,the E.U.,the U.K.,Japan and Chinese Taiwan,and also their advantages and shortages.Then,based on the complex inherent relevance or systemic importance of Financial Hold ing Companies,a major analysis is made on market-oriented recovery and disposal plans,and extremely professional bankruptcy and reorganization mechanisms of Financial Holding Companies in the E.U.,the U.S.and the U.K.,and suggestions are offered to the counterparts in China.In the following chapter,overall regulatory suggestions are proposed according to the principle of prudent supervision and administration.When designing relevant regulatory rules,both macro and micro prudential principles should be taken into consideration; besides,qualitative evaluation should be combined with quantitative evaluation.In the final chapter,a prospect of Financial Holding Companies is made based on the analysis of influences of digital economy,Fintech and Regtech on the development of finance,especially on integrated operation and the financial holding mode.

Keywords: Financial Holding Company; supervision and administration; Measures and Suggestions