作者：宋亚辉
作者介绍：南京大学法学院教授
出版日期：2025年8月9日
内容提要 市场监管权是为了辅助市场经济运行而出现的新权力，其权力配置方案不仅影响市场经济的运行效率，而且塑造了一个国家市场经济的体制特征。在市场化改革进程中，我国的市场监管总体上介于分业监管和一体化综合监管模式之间。在“分”与“合”的不断调适中，监管权的横向与纵向配置均存在多种分配标准。多标准并用的逻辑后果在于，一个对象可能被多个分类标准涵摄而引发子集重叠现象，具体表现为权力冲突。无论是事前配置监管权还是事后裁决权力冲突，都需要一套监管权配置原理作指导。宪法解释学上确保权力正确行使的功能主义原则是思考该问题的基准，其在市场经济领域表现为辅助市场有效运行的功能主义原则。在此原则下，监管权的配置本质上是通过设计监管权来匹配市场运行需求的过程。影响这一匹配过程的因素众多，总体上可分为排斥性因素和协同性因素两大类。其中，排斥性因素搭建了监管权配置的比较权衡框架，协同性因素可嵌入比较权衡框架发挥叠加效应，二者共同构成了监管权配置的整体分析框架。
关键词 全国统一大市场 市场监管 权力冲突 权力配置
Abstract: Regulatory power is a new type of power that emerges to facilitate the market economy. How to allocate this new power not only affects the efficiency of the market economy but also shapes the characteristics of market regime. In the process of market-oriented reforms, China’s market regulation broadly falls between the models of industry-specific regulation and integrated regulation. In the adjustment between separation and integration, multiple allocation standards have been formed for the horizontal and vertical allocation of regulatory power. The logical consequence of applying multiple standards simultaneously is that an object may be covered by multiple classification standards, leading to the phenomenon of subset overlap, which manifests as power conflicts. The principle of functionalism, which is derived from constitutional interpretation theory and manifested as the principle of assisting the function of market mechanism, should be adhered to both in the processes of pre-allocation of regulatory power and post-resolution of power conflicts. Under this principle, the essence of power distribution lies in matching the regulatory power with the requirements of market operation. Numerous factors influence this matching process, which can be broadly divided into two categories: exclusive factors and synergistic factors. The comparative weighing framework established by exclusive factors, supplemented by the synergistic factors, constitutes the overall analytical framework of regulatory power allocation.