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Abstract  Chinese financial regulatory authority is at the top of the regulatory pyramid, and its governance level seriously affects the safety and stability of the financial industry. However, there are very few quantitative studies on the practical operation of Chinas financial regulatory governance. And how can we make a reasonable assessment of Chinese financial regulatory authority? Is Chinas financial regulatory governance effective? Based on the international experience, this paper constructs Chinas financial regulatory governance effectiveness assessment indicator system, including 4 primary indicators: regulatory independence, regulatory accountability, transparency and integrity, and 30 secondary indicators, and takes the banking industry as an example to design questionnaire and to carry out quantitative evaluation in order to test the implementation effect of Chinas financial regulatory governance. The study shows that: on the whole, Chinese CBRC regulatory governance level of 2012 is higher than that of 2011, and the three dimensions—regulatory independence, regulatory transparency and integrity—significantly improved the regulatory governance level of Chinese CBRC, but regulatory accountability failed to play its role. The conclusion provides empirical evidence for the assessment of Chinas financial regulatory governance, and has important reference value for China to introduce related policies of enhancing financial regulatory governance effectiveness.

Key words： Financial Regulatory Governance      Banking Regulatory Governance      Assessment Indicator      Structural Equation Model      Effectiveness

Source: Finance & Trade Economics , No.8, 2014