本报记者 杨中华 北京报道

Our reporter Beijing zhonghua Yang

　　2012年，对于中国金融改革而言必定是不平凡的一年。

In 2012,,For China's financial reform must be concerned is not an extraordinary one.

　　年初的金融工作会议制定了改革路径，之后多个地区得到了政府的支持进行金融改革，再到6月份利率市场化迈出重要一步，紧接着，央行在9月份发布了“十二五”金融改革规划，为未来五年规划好金融改革路线图。

At the beginning of the year financial work conference has formulated the reform path,After multiple region to be the government's support for financial reform,In June to market-oriented interest rate as an important step forward,then,The central bank released in September"1025"Financial reform plan,For the next five year plan good financial reform the roadmap.

　　2012年是中国“十二五”时期承上启下的关键一年，改革进入攻坚阶段，中国经济金融改革也再次走到关键节点，未来经济金融改革的顶层设计与总体规划，成为各界关注焦点。

2012 years is China"1025"The key of transitional period of one year,The reform is in a crucial stage,China's economic and financial reform also once again went to the key node,The future economic and financial reform the top design and planning,Become a focus from all walks of life.

　　利率市场化、汇率改革、资本项目逐步开放、人民币国际化、多层次金融体系构建、金融服务实体经济等都将在未来五年中出现重要的变化。

Interest rate marketization/Exchange rate reform/Capital project gradually open/RMB internationalization/Multi-level financial system construction/Financial service entity economy will be in the future five years appears important changes.

　　金融改革的顶层设计 The top of the financial reform design

　　国际金融危机发生以来，各国经济发展面临着诸多问题。虽然国内在金融危机之际，积极调整货币、财政政策，使得国内经济受到影响较小。但是面临着国外复杂的经济环境和国内发展的困难局面，要保持经济持续稳定的快速增长，必须进一步进行金融体制改革，来促使经济的稳定增长。

The international financial crisis began,The economic development of all countries faced with many problems.Although in the domestic financial crisis,Actively adjust the currency/Fiscal policy,Make the domestic economy less affected.But faced with foreign complex economic environment and the domestic development of the difficult situation,To maintain the rapid growth of sustained economic stability,Must further the reform of the financial system,To promote the steady economic growth.

　　在国际金融论坛学术报告会中，经济学家吴敬琏强调，现在全球的金融体系正在经历一个重大的变革时期。

In the international financial BBS in academic report,Economists WuJingLian stressed,Now the global financial system is experiencing a significant transformation period.

　　进一步深化金融改革，已经成为了市场的共识。

Further deepen financial reform,Has become the consensus of the market.

　　9月17日，一行三会以及外汇管理局发布《金融业发展和改革“十二五”规划》，在“十二五”规划中，政府已经就未来五年的金融改革做出了路线图，囊括了市场热议的比较迫切的议题。

On September 17,A line of three will and administration of foreign exchange announced[The financial industry development and reform"1025"planning],in"1025"planning,The government has just the next five years of financial reform made the roadmap,A hot debate the market comparison of pressing issues.

　　在国际金融论坛学术报告会中，央行副行长潘功胜指出，金融改革有很多话题。有战略层面的话题，有技术层面的话题。有金融组织结构以及宏观审慎和微观金融监管方面的话题，以及对于系统性风险的防范等。但是，金融改革的基本原则和基本思想必须坚持市场化和商业化改革路径。

In the international financial BBS in academic report,The central bank vice President PanGong - pointed out,Financial reform has a lot of topics.The topic of a strategic level,Have technical aspects of the topic.Financial organization structure and macroscopic and microscopic prudent financial regulatory topic,And the systemic risk prevention, etc.but,Financial reform of the basic principles and basic thought must adhere to market-oriented and commercialization reform path.

　　面对着多项金融改革，有不少市场人士呼吁金融改革的“顶层设计”。

Facing a number of financial reform,There are many market participants calling for financial reform"Top design".

　　“在明确金融地位的同时，构建包容性的金融体系。同时要注意金融改革的顶层设计规划，如果没有顶层设计，那么改革就会容易走入误区。”国际金融论坛副秘书长王元龙在上述报告会中讲述。

"In the clear financial position at the same time,Build inclusive financial system.At the same time should pay attention to financial reform the top design planning,If there is no top design,So reform will be easy to walk into error."International financial BBS deputy secretary general WangYuanLong in the above report tells.

　　加速利率市场化 Accelerating interest rate marketization

　　2012年6月7日，央行降息的同时，首次扩大了存款利率的浮动区间，同时也增加贷款下浮的空间。而这次，央行的行动，被认为是利率市场化重要的一环。

On June 7, 2012,The central bank to cut interest rates at the same time,The first expanded deposit rate floating interval,At the same time also increase loans down space.And the,The central bank's action,Interest rate marketization is considered to be an important link.

　　在11月11日十八大集体采访时，央行行长周小川指出，利率市场化改革是一个过程，因此，到底是选择快一点好还是慢一点好，当然还是选择适当最合适。但是总体来讲，如果从改革开放的全过程来看，最近这个阶段，利率市场化改革实际上是在加快。

In the November 11, 18 big collective interview,Central bank governor zhou xiaochuan pointed out,Interest rate marketization reform is a process,therefore,What is to choose a bit faster good or slowly good,Of course still choose the most appropriate appropriate.But generally speaking,If from the whole process of reform and opening up to see,Recently the stage,Interest rate marketization reform are actually speed up.

　　而央行的行动，也给了银行业金融机构带来了不少冲击。

And the central bank's action,Also gives the banking financial institutions has brought a lot of impact.

　　在过去，商业银行能够拥有很强的贷款定价权，在贷款基准利率之上上浮也是常见之事。同时存款利率则相对固定，而之间就形成了巨大的利率之差，也给商业银行业绩高增长带来了强劲的推动力。但是随着央行的两次行动，存贷款之间的利率空间逐步缩小，也使市场开始担忧商业银行的盈利增速问题。

In the past,Commercial Banks to have very strong loan pricing,In the benchmark lending interest rate rise above is common things.At the same time deposit interest rate is relatively fixed,And it formed a huge between the difference in interest rates,Also to commercial bank growth performance has brought strong driving force.But as the central bank's two action,The balance between them interest rates gradually reduce space,Also make the market began to worry commercial bank profit growth problems.

　　除此之外，面对着利率市场化进程的加速，商业银行的存款也成了大问题。

In addition,Facing the marketization of interest rate and the acceleration of the process,Commercial bank deposits have become a big problem.

　　在央行首次扩大存款利率浮动空间之后，次日，市场中就出现了不同的存款利率。有一浮到顶的，也有不少银行上浮了一定的比例。而不同银行机构的利率水平，也唤醒了资金的逐利本性，开始在不同银行机构之间转移，导致不同商业银行的存款有所波动。

For the first time in the central bank to expand deposit rate floating space later,The next day,The market appeared different deposit interest rates.There is a float the summit,There are many bank separation the certain proportion.Banking institutions and different level of interest rates,Also raised funds by the nature,Start in different bank transfer between agencies,Lead to different commercial bank deposit has the undulation.

　　与此同时，随着金融脱媒现象的加剧，导致了商业银行季末、月末等存款波动幅度扩大的趋势，再加上利率市场化进场加快导致商业银行吸收存款成本上升，进而加大了商业银行流动性管理和经营的难度。

meanwhile,Along with the financial disintermediation phenomenon aggravating,Led to the commercial Banks of the season/The end of the month deposit fluctuation range and the trend of widening,Plus interest rate marketization approach to speed up the Banks to absorb the rise in the cost of deposit,And then increase the commercial bank liquidity management and the difficulty of the operation.

　　除了利率市场化之外，金融改革依然面临着人民币汇率进一步的完善、资本项目逐步可兑换、人民币国际化等诸多难题。

In addition to outside interest rate marketization,Financial reform is still facing the RMB exchange rate further perfect/Capital account convertibility/RMB internationalization, and many other problems.

　　银行业的再改革 Banking reform again

　　经历过国家大型商业银行股改上市的潘功胜在国际金融论坛学术报告中曾讲：在过去十年中，我深度地参与了中国银行(601988,股吧)体系的改革，应该说中国的银行体系在过去十年中还是发生了比较深刻的变化。应该说这十年来中国银行体系改革是中国经济体制改革的亮点，可能也是为数不多的亮点。

Experience of the country's largest commercial Banks listed on the reform of the PanGong wins in international financial BBS academic report once speak:In the past ten years,I deeply involved in the bank of China(601988,guba)System reform,It should be said that China's banking system in the past ten years or happened quite profound change.It should be said that this ten years China's banking system reform is the highlight of Chinese economic system reform,Also may be one of the few bright spot.

　　然而，银行业金融机构也遇到了高速发展之后的瓶颈。多年的粗放式发展引起的银行案件逐渐增多，也引发了商业银行风险控制能力的热议。再加上难测的地方债务，一旦平衡打破，债务风险岌岌可危。同时随着国内外经济环境的遇冷，不少行业不良贷款的暴露出现加快的局面等，而这些商业银行面临的诸多问题，也必将再次引发银行业金融机构的变革。

however,Banking financial institutions also met with high speed development after the bottleneck.Years of extensive development cause bank cases increased gradually,Also initiated the commercial bank risk control ability of hot debate.Plus unfathomable local debt,Once the balance to break,Debt risk at risk.At the same time as economic environment at home and abroad in the cold,Many industry non-performing loans exposure appears to speed up the situation, etc,And these commercial bank faces many problems,Will reignite the change of banking financial institutions.

　　虽然政府已经规划了未来五年的金融改革路线图，但是，明年初，银行业金融机构也将迎来自身变革的重要事件，即中国的新资本协议将在2013年1月1日起实施。而新资本协议不仅吸收了其他国家对金融危机根源探讨而提出的改革方案，同时也顾及了中国银行业的实际情况，使得此次改革也更加有针对性，得以提升商业银行的整体水平。

Although the government has planned for the next five years of financial reform the roadmap,but,Early next year,Banking financial institutions will also usher in their own change of important events,Is China's new capital agreement will be in January 1, 2013 implementation.The new capital agreement not only absorbed other countries on the financial crisis root to explore and puts forward the reform plan,At the same time also take into consideration the actual situation of the Chinese banking industry,Make this reform also more targeted,To improve the overall level of commercial Banks.