在日前举行的上海新金融研究院周年庆典暨专题研讨会上，来自市场机构和监管部门的人士表示，推进中国的新金融发展需要关注当前金融市场的新变化、未来如何建设差异化服务的金融机构、发行熊猫债、调整货币政策监管目标等将是新金融发展亟待研究和解决的问题。

In the recently held at the Shanghai new financial institute anniversary celebration and seminars on，From the market mechanism and regulatory say，Promote China's new financial development need to pay attention to the current financial market new changes、The future how to build differentiation service financial institutions、Panda debt issued、Adjust monetary policy supervision target, etc will be new financial development to research and solve the problem。

　监管需更密切关注汇率利率变化 Supervision should be more close attention to exchange rate changes

　　目前学界对新金融的定义还没有明确界定。上海新金融研究院提交的一份报告认为，新金融可以定义为以资本市场为核心，以电子网络为手段、工程技术推进的新体制，它具有资源证券化、运作市场化、市场一体化、经营混业化、手段信息化、技术工程化等特征。新金融的发展依赖经济的发展、资产的增值和金融的深化等。

At present, most of scholars of new financial definition is not clearly defined。Shanghai new financial institute submitted a report says，New financial can be defined as the capital market as the core，In electronic network as the means、Engineering technical advance of the new system，It has the securitization of resources、Marketization operation、Market integration、Business mixed change、Means information、Technology characteristics of engineering。New financial development depends on the development of the economy、Assets value-added and financial deepening, etc。

　　在当前我国的市场环境下，如何加强对新金融业态的监管成为重要话题。海通证券首席经济学家李迅雷认为，新金融的监管分为宏观审慎监管和微观审慎监管，如何做好差异化、个性化、专业化的服务体系是监管部门应着手解决的问题。

In the current China's market environment，How to strengthen the supervision of the new financial formats become important topic。Haitong securities chief economist LiXunLei think，The new financial supervision can be divided into macroscopic prudential supervision and microcosmic prudential supervision，How to do well differentiation、personalized、Professional service system is the supervision department should set out to solve the problem。

　　与会专家还认为，做好新金融的改革还需解决行政管制与市场机制的问题，中央和地方在金融监管的权限上如何划分也需要进一步研究。新金融的监管需要改变传统思路，提高市场主体的自发性，更密切关注汇率、利率市场的变化。上海社团管理局副局长贾勇认为，如何加强信用体系建设、解决监管中的信用问题也是保证新金融稳定良好发展的关键。

The experts also believe that，Make new financial reform still need to solve the administrative control and market mechanism problem，The central and local governments in the financial supervision authority on how to divide the also need further study。New financial supervision of the need to change the traditional ideas，To improve the market main body spontaneous，More close attention to exchange rate、Interest rate market changes。Shanghai community administration, deputy director of the JiaYong think，How to strengthen the construction of credit system、To solve the credit problems of supervision and ensure that new financial stability good development key。

　对货币政策带来挑战 On monetary policy challenges

　　上海市金融办主任方星海认为，对市场主体等监管需要更多地体现差异化。例如，对于当前发展迅猛的PE和VC等的管理以及纳入法律框架，是新金融发展过程中需更加细化的方面。

Shanghai financial do director Mr Fang think，To the market main body and supervision need more reflect differentiation。For example，For the current the rapid development of the PE and VC etc management and into the legal framework，Is the new financial development process should be more refining aspects。

　　德意志银行大中华区首席经济学家马骏认为，新金融在发展过程中对货币政策的挑战也需关注。随着金融产品不断创新，广义货币（M2）的占比当前已大幅下降，如果货币政策只盯住货币供应量，其有效性将明显弱化。今后货币政策应该在灵活性和多层次性上加速转变。

Deutsche bank chief economist in the greater China region a fair think，New financial in the development process to monetary policy challenges also need to be paid attention to。With the financial product innovation，Broad money（m2）For the current ratio has declined dramatically，If monetary policy only gaze at the money supply，Its validity will be significantly weakened。The future monetary policy should be in the flexibility and many level on accelerating transformation。

　　马骏表示，新金融业态还应覆盖两个领域，一是长期固定保险，二是人民币国际化的具体问题。未来几十年，养老金缺口和医疗卫生对中国财政构成很大的压力，应针对其推出相应的固定保险产品。

A fair said，New financial format should also cover two fields，One is the long-term fixed insurance，The second is the specific problem RMB internationalization。In the coming decades，Pension gap and medical and health for China's finance constitute a lot of pressure，Should be introduced in view of its corresponding fixed insurance products。