关注“金融业"十二五"规划”

attention"Financial industry"1025"planning"

　　当此之际，应让民间尽可能多地分享金融业改革红利。央行的这份规划，画出了清晰的蓝图，但更重要的是推进制度改革的决心。

When this of,Should let the folk as much as possible to share financial sector reform bonus.The central bank's the planning,Draw a clear blueprint,But more important is to promote the reform of the system of determination.

　　日前，央行发布了“十二五”时期金融业改革和发展规划，力求为今后几年金融业发展提供明确的方向。与规划中提出的生硬的总量、增速等数字指标相比，近段时间央行加快推进金融改革的具体举措，更能说明此刻公布这项方案的弦外之音。

a,The central bank issued a"1025"Period financial sector reform and development planning,For the next several years to the development of the financial industry to provide clear direction.And planning of the amount of starch is put forward/Growth index such as digital compared,Near section time the central bank accelerate financial reform of the specific measures,More to the published at the moment of the plan overtones.

　　比如，一周前，央行十年来首度系统公布了2002年之后翔实的社会融资规模的分类数据，这使得人民币贷款、企业债券、股票融资额度等的总量数据，以及各自所占的比重一目了然。而之前，每年的社会融资总规模数据一直未对外公开。

For example,A week ago,Ten years the central bank announced the first system after 2002 full and accurate social financing scale classification data,This makes the RMB loan/Corporate bonds/Stock financing limit the amount of data, etc,And their respective the proportion of the be clear at a glance.And before,Every social financing total scale data has not been made public.

　　这十年，人民币贷款在社会融资规模中的占比从91.9%以上降至去年的58.2%，可以说成绩斐然。以银行贷款为绝对主导的融资模式正在改变，但是贷款总量依然太过于庞大，严重掣肘了股票和债券等直接融资市场的发展。对照历年数据，“十二五”时期必须进一步压缩人民币贷款的比重，债券、股票、信托、票据等直接融资方式，必须要迎来发展的春天。

The ten years,RMB loans in social financing scale than from the accounts for more than 91.9% down to 58.2% last year,Can say has made brilliant achievements.To bank loans for absolute leading financing patterns are changing,But the loan amount is still too large,Serious handicap stocks and direct financing such as the issuance of the development of the market.Control historical data,"1025"Period must further compression proportion of RMB loans,bonds/stock/trust/Bill and direct financing methods,Must want to welcome the development of spring.

　　这就需要一系列的制度破局。公司债、企业债市场遭受行政干预手段“打压”；股票发行制度问题重重、监管力度明显不够、信息披露和退市机制等方面亦病灶明显；信托业目前受托管理资产规模将近6万亿元，本次规划论及信托的内容几乎空白，但信托领域黑幕不断，尽快规范已经刻不容缓。

This needs a series of system broken bureau.Corporate debt/QiYeZhai market suffered from administrative intervention means"Crack down on";The problems of the system for issuing stocks/Supervision dynamics obviously not enough/Information disclosure and delisted mechanism also lesions significantly;At present the business management asset scale nearly 6 trillion yuan,This planning deals with the content of the trust almost blank,But trust field shady constantly,Standard as soon as possible is urgent.

　　除了这些直接融资系统急需制度破局，银行本身亦需加快推进相关制度变革。尤其，近几年银行的“公共”部门特征过重，行业垄断利润已经形成政策性带来的存贷差利润过高，中间业务消费名目繁多，让社会各方不堪承受。此前，央行的几次非对称降息，已经试图开启利率市场化大幕，消除银行存贷差的畸高收益；同时，个别地方政府、银行业协会和消费者协会近两年明显加大了对银行收费过高的声讨力度，料将“十二五”时期会有明显改变。

In addition to these direct financing system need system broken bureau,The bank itself also need to accelerate the relevant system change.especially,In recent years the bank"public"Department features overweight,Industry monopoly profits has been formed policy brings the deposit-loan difference high profits,Intermediate business consumption a multitude of names,Let the social parties to bear.after,The central bank to cut interest rates several times asymmetric,Have tried to open interest rate marketization unfolds,To eliminate poor bank deposit excessively high yield;At the same time,Individual local government/Banking association and consumer society significantly increased the nearly two years of bank charges exorbitant condemn strength,Material will"1025"Time will have obvious change.

　　仅仅这些仍旧不够，银行业必须从自身定位上有实质突破。银行业应以向实体经济“良性输液”为己任，让社会资金做到“钱尽其用”，而绝不可以政策性垄断赢得过高利润。“十二五”时期的金融改革，自然应纠正银行的获利模式，这和重新定位A股市场的融资功能，摈弃圈钱功能的道理类似。

Only these are still not enough,Banking must from their own position have substantial breakthrough.Banking should to the real economy"Benign infusion"As our duty,Let the social capital to do"All the money in",Not can the policy monopoly win high profit."1025"In the period of the financial reform,Natural should correct bank profit model,This and reorientation of a-share market financing function,Devoid of ring money function similar to reason.

　　过去五年，金融改革在很多方面都止步不前，尤其是银行天量信贷并未输送到实体经济急需的部门，民营企业成片倒下。当此之际，应让民间尽可能多地分享金融业改革红利。央行的这份规划，画出了清晰的蓝图，但更重要的是推进制度改革的决心。

Over the past five years,Financial reform in many ways are come to a halt,Especially bank day quantity credit does not transfer to the entity economy need department,Private enterprises fall into.When this of,Should let the folk as much as possible to share financial sector reform bonus.The central bank's the planning,Draw a clear blueprint,But more important is to promote the reform of the system of determination.

　　倪金节（财经作家）

NiJin section(Financial writer)