中国金融机构在多年的发展过程中已经具备了一定的风险防范意识和防范能力，为金融创新提供了一定的条件。什么时候我们对金融创新的监管理念也能引进“法不禁止皆可创新”的原则呢，目前看来还有很长的时间、很多的路要走，我们期盼这个进程能够缩短。

China's financial institutions in the years of development process already have a certain amount of risk awareness and prevention capacity，For financial innovation provides certain conditions。When our concepts of supervision of financial innovation can also introduce“Law does not prohibit all can innovation”Principle?，It still has a long time、A lot of way to go，We look forward to this process can shorten the。

　　这几年，上至中央高层、金融监管机构，下至一般的金融机构、黎民百姓，都在呼唤加大金融改革的力度，加快金融创新。但是，处理好金融创新与风险控制、合规、监管的关系十分重要。古今中外太多的案例表明，要适度创新，否则可能引发金融风险甚至危机。这种平衡某种意义上是一门艺术。

Over the past few years，To the central high、Financial regulators，Next to the general financial institutions、Problems plaguing the people，Is calling increase financial reform，To speed up financial innovations。but，Deal with financial innovation and risk control、compliance、The relationship between the supervision is very important。Too much of the ancient and modern, Chinese and foreign cases，To moderate innovation，Or you could trigger financial risk even crisis。This balance a sense is an art。

　　今年年初来，有迹象表明中央和监管层在加快金融创新、金融改革的力度。3月14日，温家宝总理在记者会上明确表示，人民银行和中国银监会正在积极考虑将温州的民间金融作为综合改革的试点之一。4月初，周小川行长率领中国人民银行调研组一行赴浙江温州深入了解金融综合改革试验区建设有关工作情况，听取意见建议，指导试点工作，与浙江方面共同研究落实国务院常务会议精神，启动温州金融综合改革试验区有关工作。接着，深圳出台系列重大金融创新，服务实体经济发展，并已获国家层面支持，其内容包括与香港试点开展双向跨境贷款、成立深圳前海股权交易所、扩大代办股权转让系统试点、创新债券市场发展等。这预示着未来中国将有更多城市、地区开展金融创新。5月份，浙江丽水又成为国内首个农村金融改革试验区。作为全国农村金融改革的先行区和金融创新的示范区，丽水重点围绕创新农村金融组织服务、丰富农村金融产品、强化金融惠农政策等“八大体系”进行改革。

Earlier this year to，There are signs that the central and regulatory accelerated in financial innovation、Financial reform。March 14,，Prime minister wen jiabao made clear at the press conference，The people's bank of China banking regulatory commission (CBRC) are actively considered and the private finance will wenzhou as comprehensive reform one of the pilot。In early April，The people's bank of China governor zhou xiaochuan led a line to the research group of wenzhou, zhejiang in-depth understanding of financial comprehensive reform region construction related work situation，The listening to suggest，Guidance pilot work，Zhejiang province and carry out a joint research the standing committee of state council spirit，Start wenzhou financial comprehensive reform related work area。then，Shenzhen issued series major financial innovation，Service entity economy development，And has been the state level support，The contents include and Hong Kong to deploy two-way pilot cross-border loans、The sea before was set up in shenzhen stock exchange、Expand the equity transfer system for pilot、Innovation development of the bond market, etc。This indicates the future China will have more cities、Areas to develop financial innovation。In may，Zhejiang beautiful water and become the first domestic rural financial reform region。As the nation's first district of rural financial reform and financial innovation demonstration area，Lishui key innovation of rural financial organizations around the service、Rich in financial products、Strengthening financial benefit farming policy, etc“The eight system”reform。

　　环顾世界，人们在金融创新和金融监管的理念上近几十年取得了很大进步。1980年代以来，无论是美国等发达国家、地区，还是中国等发展中国家、地区的金融监管理念，都在朝“微观上放松管制，宏观上加强控制”的方向努力。

Look around the world，People in the financial innovation and financial supervision on the idea of recent decades have made great progress。Since the 1980 s，Both the United States and other developed countries、area，Or China and other developing nations、Areas of financial management concept，Are at the king's“The microscopic deregulation，The macroscopic strengthen control”Direction to。

　　1980年3月31日，美国《1980年存款机构放松管制和货币控制法》（简称《美国1980年银行法》）经卡特总统签署正式生效。它标志着美国银行立法的一个转折点，被称之为1913年联邦储备法通过以来最重要的立法，其最主要的精髓也是“微观上对存款机构放松管制，允许其大力创新，但是宏观上又大力加强（货币）控制”。

March 31, 1980，The United States《1980 savings institutions and monetary control deregulation》（Referred to《In 1980 the United States banking laws》）Signed by the President carter goes into effect。It marked the bank legislation a turning point，Called 1913 federal reserve act through the most important since the legislation，Its most major essence also“The microscopic deposit institutions of deregulation，Allow it to innovation，But the macroscopic and strengthen（currency）control”。

　　记得中国老一辈革命家和财政经济专家陈云先生在改革初期曾有一个著名的“鸟笼经济理论”。把社会主义制度比作鸟笼，把经济体制和经济发展运行方式比作笼子里的鸟儿，鸟儿在鸟笼里可以任其自由飞翔，但不可以飞出鸟笼子。“鸟笼子”经济理论一直是学界争论不休的问题。支持的人认为这是从国情出发，在宏观掌控上具有方向性原则性的理论，在一定时期内应预坚持； 而反对的人则认为没有脱离计划经济的范畴，是制约改革开放实行市场经济的“绊脚石”，应予扬弃。尤其在中央提出要“毫不动摇地坚持改革方向”的今天，更大程度地发挥市场在资源配置中的基础性作用，强调了市场地位优于政府地位的问题，使反对“鸟笼子”理论的人有了更大的底气。我认为，有一点是不能忽视的，中国实行的是社会主义市场经济，这只“鸟”还在笼子里，仅仅是笼子大了一点，实质并没有根本的改变。让“鸟”飞，但不让飞得太远，飞过了头就要拉回来，目前仍是这样。

Remember China veteran revolutionaries who financial and economic experts and Mr. Chen yun in early reform once had a famous“Cage economic theory”。The socialist system compared to the cage，The economic system and economy development operation mode compared to the cage bird，The bird in the cage can let it fly，But you can't fly out of the cage。“Bird cage”Economic theory has been controversial problem is the educational world。Support from people think this situation，In the macro control of principle on directional theory，In certain period to be beforehand； But against people argue that a planned economy is not out of the category，Reform and opening up is restricted by the market economy“Stumbling block”，Should be discarded。Especially in the central puts forward to want to“Unswervingly adhere to the direction of reform”today，Greater scope to market in resource allocation to the basic role，Emphasize market position is better than the government position，That opposed the“Bird cage”Theory that have more bottom spirit。I think，One thing is cannot be ignored，China is a socialist market economy，This only“bird”Also in the cage，Just a little cage，Essence and no change fundamentally。let“bird”fly，But don't let fly too far，Flew over the head will pull back，Still it is。

　　我想，这一轮“加快金融创新试点的金融改革”也是这样，必须是在金融宏观控制（“鸟笼”）中合理、适度、合规的创新，这确实考验金融监管层和一般的金融机构业者的智慧，它需要一种平衡的艺术：在“鸟笼”中合理、适度、合规创新。一般的金融机构必须认真钻研国家有关的法律、法规和政策，大力进行合法、合规的金融创新；金融监管层也要有服务意识、公仆意识，多为“合理、适度、合规的创新”提供良好的生存环境和服务。

I want to，This round“To speed up financial innovation of the pilot financial reform”Also is such，Must be in macroeconomic control（“cage”）Reasonable in、moderate、Compliance innovation，This really test of financial supervision layer and the general financial institutions the wisdom of the industry，It needs a kind of balance of art：in“cage”Reasonable in、moderate、Compliance innovation。The general financial institutions must carefully study relevant state laws、Regulations and policy，Vigorously legal、The compliance of financial innovation；Financial regulatory also want to have the service consciousness、Public servant consciousness，More for“reasonable、moderate、Compliance innovation”Provide a good living environment and the service。

　　欧美发达国家遵循的是“法不禁止皆可创新”的原则，而中国往往是“法规政策允许才可创新”。与美国在金融危机之后提高金融风险的防范不同的是，中国金融机构在多年的发展过程中已经具备了一定的风险防范意识和防范能力，为金融创新提供了一定的条件。什么时候我们对金融创新的监管理念也能引进“法不禁止皆可创新”的原则呢，目前看来还有很长的时间、很多的路要走，我们期盼这个进程能够缩短。

The developed countries of Europe and America is followed“Law does not prohibit all can innovation”principle，While China is often“Regulations policy allows to innovation”。And the United States in the financial crisis the awareness of financial risks after that improvement is different，China's financial institutions in the years of development process already have a certain amount of risk awareness and prevention capacity，For financial innovation provides certain conditions。When our concepts of supervision of financial innovation can also introduce“Law does not prohibit all can innovation”Principle?，It still has a long time、A lot of way to go，We look forward to this process can shorten the。