现代金融控股公司:发展与挑战

现代金融体系的核心是资本市场，资本资源的配置主要通过资本市场完成，传统商业银行的地位和作用不断削弱。面对金融体系的这种结构性变化，商业银行、证券公司和保险公司等金融机构不断融合，走向集中化、国际化和全能化，金融控股公司就是这一进程中出现的重要的金融组织形态。它的出现与发展，一方面打破了传统金融机构竞争的格局，另一方面也给金融监管提出了挑战。

Modern Financial Proprietary Companies: Development and Challenge

The core of modern financial system being capital market, the allocation of capital resources is fulfilled through capital market, thus increasingly weakening the role and position of conventional commercial banks. Faced with such structural changes of the financial system, financial institutions such as commercial banks, securities companies, insurance companies, etc. will gradually merge and move towards centralization, internationalization and universalization. Financial Proprietary companies discussed in this paper are right the important organizational form emerging in such a course. Their emergence and development have raised a challenge to financial supervision and broken down the conventional setup of financial competition as well.