目前，和前海签约的香港银行包括恒生、汇丰、东亚银行等。虽然细则并未公布，但是未来可能出台的政策将大大利好香港银行业的人民币业务。香港银行业界也纷纷表达了希望政策进一步放开的愿望，业界诉求包括准许在前海开展金融业混业经营、允许贷款给内地企业等。前海咨询委员会顾问谢涌海建议，前海应当建立一个超级金融管理局，以适应金融混业经营的管理。

At present，And the sea before signing Hong Kong hang seng bank including、HSBC、Bank of east Asia, etc。Although the rules aren't，But possible future policy will greatly good banking the RMB business in Hong Kong。Hong Kong bank industry have been expressed hope the policy further let go of desire，The industry including allowed to appeal in the sea before mixed management in finance、Allow loans to the mainland enterprises, etc。The sea before advisory committee adviser XieChong sea Suggestions，The sea before shall establish a super financial administration，In order to adapt to the financial mixed operation management。

　　证券时报记者 徐欢 李明珠

Securities times XuHuan LiMingZhu

　　日前，国务院公布关于支持深圳前海深港现代服务业合作区开发开放有关政策的批复，其中包括支持前海在金融改革创新方面先行先试，如支持设立在前海的银行机构发放境外项目人民币贷款，积极研究香港银行机构对设立在前海的企业或项目发放人民币贷款。

a，The state council announced the sea before about support shenzhen deep port modern service industry development zone open the relevant policies written reply to a subordinate body，These include support in the sea before financial reform innovation first try first，Such as the sea before set up in support of the bank orgnaization extends offshore project RMB loan，Positive study of the establishment of the Hong Kong bank institutions in the enterprise or the sea before issuing RMB loan project。

　　对此，香港金融业积极呼应，不少签约前海的香港金融机构都表达了希望在前海大展拳脚的愿望，同时，他们也期待前海在政策开放和制度设计上能有进一步的动作。

this，Hong Kong financial industry actively echo，Many of the sea before signing the Hong Kong financial institutions are expressed the hope in the sea before the desire of the fist exhibition，At the same time，They also look forward to the sea before open and system design in policy on can be of further action。

　　希望政策进一步放开 Hope policy further release

　　期盼金融业混业经营 Looking forward to the financial industry mixes industry the management

　　目前，和前海签约的香港银行包括恒生银行、汇丰银行、东亚银行等。虽然目前细则并未公布，但是未来可能出台的政策将大大利好香港银行业的人民币业务。香港银行业界也纷纷表达了希望政策进一步放开的愿望，业界的诉求包括准许在前海开展金融业混业经营、允许贷款给内地企业等。

At present，And the sea before signing Hong Kong Banks including the hang seng bank、HSBC、Bank of east Asia, etc。Although at present the rules aren't，But possible future policy will greatly good banking the RMB business in Hong Kong。Hong Kong bank industry have been expressed hope the policy further let go of desire，The industry including allowed to appeal for the sea before mixed management in finance、Allow loans to the mainland enterprises, etc。

　　香港恒生银行副董事长兼行政总裁关燕萍表示，恒生银行非常期待与前海的合作。在香港，恒生银行的业务除了银行之外，也有证券公司、基金公司和保险公司，但境外银行在境内并没有混业经营空间，希望前海可以降低这方面的门槛。一位外资投行的银行业分析师表示，除跨境人民币贷款等业务外，境外银行还希望扩大在内地的经营范围。如果能够允许境外银行在前海混业经营，对境外银行是重大利好。但混业经营涉及混业监管的问题，因此需要逐步推进。

Hong Kong's hang seng bank vice chairman and chief executive GuanYanPing said，Hang seng bank are looking forward to the cooperation with the sea before。In Hong Kong，The hang seng bank's business in addition to outside the bank，Also have securities company、Fund company and the insurance company，But foreign Banks in China and not mixed operation space，Hope can reduce the sea before this threshold。A foreign investment banking analyst said，In addition to cross-border business such as the RMB loan outside，Foreign Banks also wants to expand the business scope of the in the mainland。If can allow foreign Banks in the sea before mixes industry the management，In overseas bank is a big gains。But mixes industry the management involves supervised problem，Therefore need to promote the gradual。

　　恒生银行董事长钱果丰表示，未来还将通过推出创新服务以及香港与内地团队的紧密合作，有效地争取更多跨境及人民币相关业务。

Hang seng bank's chairman QianGuoFeng said，The future will also through the launch innovative services and the Hong Kong and mainland team's close cooperation，To strive for more effective cross-border and RMB related business。

　　香港金管局副总裁彭醒棠表示，今年上半年香港离岸人民币债券发行量达727亿元，希望将来香港银行对前海的贷款，借款机构可将资金拨至内地其他地区使用。

Hong Kong the hkma vice President PengXingTang said，In the first half of this year Hong Kong offshore RMB bonds circulation of 72.7 billion yuan，Hope in the future of Hong Kong bank of the sea before the loans，Borrowing agencies can put money to other districts to use the dial。

　　中银国际副执行总裁、前海咨询委员会顾问谢涌海表示，前海应当建立一个超级金融管理局，以适应金融混业经营的管理，下设银行业、证券业、保险业等分管部门。他认为，前海地区作为中国内地的金融试验区，不应当延续内地目前金融业分业经营的旧模式，这样会阻碍金融创新，而应适应国际趋势，尝试允许混业经营。

Boc international executive vice President、The sea before advisory committee adviser XieChong sea said，The sea before shall establish a super financial administration，In order to adapt to the financial mixed operation management，Under the banking、securities、Department for insurance industry, etc。He thinks，The sea before area as the mainland of China's financial area，Should not continue the mainland at present the financial industry old patterns of decentralized management，This will hinder financial innovation，And should be adapted to the international trend，Try to allow mixes industry the management。

　　在岸离岸市场打开通道 Bet the channels offshore markets

　　资金安全如何保障？ How to guarantee the safety of fund？

　　前海最引人注目的是其“金融新政”，即在资本项目管制下，为人民币在岸、离岸市场打开了一条市场通道。未来设立在前海的银行机构将可发放涉外人民币贷款，同时，香港银行机构也可向在前海的企业发放人民币贷款。在这种情况下，进驻前海的金融机构如何保障流动于两个市场之间的资金安全？

The sea before most of the attention is its“New financial”，That is in the capital projects under control，Bet for the yuan、Offshore market open a market channels。The future of the sea before set up in banking institutions will extend foreign RMB loan，At the same time，Hong Kong bank institutions also can be in the enterprise to the sea before issuing RMB loan。In this case，Financial institutions in the sea before how to guarantee the flow in the two markets of capital between the safety？

　　谢涌海建议，在前海地区建立人民币在岸和离岸两个市场，前海地区的银行应该有两本账簿，一本是在岸的，另一本是离岸的，分别平仓以保证资金不会交叉。在内地近年推动企业“走出去”的背景下，他认为，可考虑有限度允许在岸账本上的资金流到离岸账本上，但流到离岸市场的资金，则不能拆借回到在岸市场，以保障内地金融安全。此外，在人民币离岸业务上，他认为，前海应与香港完全对接，包括同业拆借、企业信贷、贸易融资、保险业务等。根据日本的经验，采取类似“两个账户”的运作方式，在规管资本流动方面十分有效。

XieChong sea Suggestions，In the sea before regions to establish bet and offshore RMB two markets，In the sea before the bank should have both the books，This is a bet，The other is a offshore，To ensure that funds are liquidated won't cross。In the mainland to promote the enterprise in recent years“Go out”Under the background of the，He thinks，Can consider a maximum allowed the cash flow to bet zhang this getting on offshore zhang this getting on，But to flow to the offshore markets funds，It can't borrow bet back to the market，In order to ensure the mainland financial security。In addition，In the offshore RMB business，He thinks，The sea before with Hong Kong should be completely docking，Including interbank lending、Enterprise credit、Trade financing、Insurance business, etc。According to the experience of Japan，Take similar“Two account”Mode of operation，In the regulatory capital flows is very effective。

　　恒生银行人民币业务策略及计划部主管颜剑文则指出，如果港资银行入驻前海后分两本账记，在实际操作中每个账户上都有头寸，两边的资金能否互补是个问题，同样的币种在会计账上处理报告的系统要求也会比较高。他指出，分散管理账目的模式在外资银行进驻中国时就有提出且在实际操作中也有运用，但刚开始起步时会比较麻烦；而且，一般银行在管理资金时，都是实行总体管理，如果在分开的账户上独立管理，可能存在资金管理低效的情况。

Hang seng bank RMB business strategies and YanJianWen charged that the director, programs，If the bank into the sea before hong kong-invested after two points of this account to remember，In the actual operations of each account has positions，On both sides of the funds can be complementary is a problem，The same currency in the accounts of the disposal report system requirements also be higher。He pointed out that，The decentralized management model in foreign bank accounts in China is put forward and in practice also have used，But just beginning, more troublesome；and，General bank funds in management，Is implementation overall management，If in separate account independent management，There may be money management of inefficient。

　　他进一步指出，从客户的角度看，人民币就是一种货币，往往并不清楚银行有分账管理的要求。如果客户希望将从外币业务拿到的人民币转到人民币账户上，在客户看来，这应该是很容易的，但从银行的角度就会牵涉到很多监管合规的考虑。随着监管法规的放松，现在已逐渐取消了人民币的分账管理。未来前海如果用分账管理的模式，要看分到哪个程度，大框架下怎么做还要等政策。

He further points out，From the point of view of the customer，The yuan is a kind of currency，Often do not know Banks have FenZhang management requirements。If the customer wants to get from foreign currency business of RMB turned to RMB account，In the customer seems，It's supposed to be easy，But from the point of view of the bank will involving many regulatory compliance consideration。Along with the regulatory relax，Now already cancelled gradually the value of the yuan on FenZhang management。The sea before with FenZhang future if management model，To see the degree to which，Big framework do have policy。