中国人民银行行长周小川20日在2012新浪金麒麟论坛上表示，要积极促进各方面条件的成熟，有规划、有步骤、坚定不移地推动利率市场化改革。

The people's bank of China governor zhou xiaochuan 20, in 2012 JinQiLin sina BBS on Wednesday,To actively promote the maturity of the various conditions,A planning/step/Unswervingly promote market-oriented interest rate reform.

　　他在解读党的十八大提出的金融方面的工作和任务时指出，要加快发展多层次资本市场，大力发展债券市场，继续完善主板、中小企业板和创业板市场，积极探索发展股权交易市场。

He reads the party 18 forward the financial aspects of the work and task pointed out,We will accelerate development of multi-level capital market,Vigorously develop the bond market,Continue to improve the motherboard/Small and medium-sized enterprise board and gem market,Actively explore development equity market.

　　针对大力发展债券市场，他表示，坚持市场化改革方向，着力培育商业信用，强化市场约束和风险分担机制，提高市场运行透明度。稳步扩大债券市场规模，推进金融产品创新和多元化，加大资产证券化试点力度，发展中小企业集合债券等融资工具。发展私募债等融资工具，拓宽融资渠道。加强债券发行管理部门的协调配合，提高信息披露标准，落实监管责任。加强债券市场基础设施建设，进一步促进银行间市场和交易所市场协调发展。

According to vigorously develop the bond market,He said,Adhere to the market-oriented reform direction,Focus on cultivating commercial credit,Strengthening market constraints and risk sharing mechanism,To improve the transparency of market operation.Expand the size of the bond market,To promote financial products innovation and diversification,Increase asset securitization pilot strength,The development of small and medium-sized enterprise financing tool set bonds, etc.Development SiMuZhai financing tools, etc,Broaden the financing channels.To strengthen the bond issue management department coordination,Improve the information disclosure standards,Implement supervision responsibility.To strengthen the bond market infrastructure construction,Further promote interbank market and exchange market coordinated development.

　　他还表示，完善金融宏观调控体系。优化货币政策目标体系，更加突出价格稳定目标，关注更广泛意义的整体价格水平稳定，处理好促进经济增长、保持物价稳定和防范金融风险的关系。完善市场化的间接调控机制，创新和丰富货币政策工具和手段，更多地运用市场化的工具和手段，保持合理的社会融资规模，避免经济增长出现大的波动。继续深化金融体制改革，完善金融市场体系，提高货币政策传导效率。

He also said,Perfecting financial macroeconomic regulation and control system.Optimization of monetary policy target system,More outstanding price stability target,Focus on broader meaning of the overall price level stability,Handle promote economic growth/Keeping prices stable relationship and guard against financial risks.Market indirect regulation mechanism,Innovation and rich monetary policy tool and means,Use more market-oriented tools and means,Keep reasonable social financing scale,Avoid any big swings in the economic growth.Continue to deepen the reform of the financial system,Perfect financial market system,To improve the efficiency of monetary policy transmission.

　　要加快发展民营金融机构。鼓励社会资金参与中小金融机构的重组改造、稳步发展各种所有制金融企业。

We will accelerate development of private financial institutions.Encourage social capital to participate in the restructuring of the small and medium-sized financial institutions reform/The steady development of all sectors of the financial enterprise.

　　在稳步推进利率和汇率市场化改革方面，他表示，下一步，要积极促进各方面条件的成熟，有规划、有步骤、坚定不移地推动利率市场化改革。结合宏观审慎管理框架，选择具有硬约束的金融机构，通过逐步放开替代性金融产品的价格等途径推进利率市场化改革。加强金融市场基准利率体系建设，提高上海银行间同业拆放利率的基准性。引导金融机构完善利率定价机制，增强风险定价能力。

In steadily interest rate and exchange rate marketization reform,He said,The next step,To actively promote the maturity of the various conditions,A planning/step/Unswervingly promote market-oriented interest rate reform.Combining macroscopic prudent management framework,Choose to have hard constraints of financial institutions,Through the gradually let go of alternative financial product price way to promote market-oriented interest rate reform.To strengthen the financial market benchmark interest rate system construction,Improve the Shanghai bank inter-bank loan interest rates benchmark sex.Guide financial institutions to perfect interest rate pricing mechanism,Enhance risk pricing power.

　　按照主动性、渐进性、可控性原则，根据国际形势变化、国内经济发展需要和经济金融改革整体进展等，不断完善以市场供求为基础、参考一篮子货币进行调节、有管理的浮动汇率制度，逐步增强汇率弹性，保持人民币汇率在合理均衡水平上的基本稳定。

According to the initiative/progressive/Controllability principle,According to the international situation changes/The domestic economic development needs and economic and financial reforms such as overall progress,Constantly improve based on market supply and demand/With reference to a basket of currencies regulation/A managed floating exchange rate system,Gradually enhance the flexibility of the exchange rate,Keep the RMB exchange rate at a reasonable equilibrium level basically stable.

　　未来一段时期，要逐步实现人民币资本项目可兑换。积极稳妥推进银行业实施第三版巴塞尔协议。探索和拓展外汇储备多层次使用渠道和方式，完善外汇储备经营管理体制机制，稳步推进多元化投资，更好地实现外汇储备安全、流动和保值增值的目标。继续运用外汇储备支持国家战略物资储备、大型金融机构改革和有条件的各类企业“走出去”。继续支持香港巩固和提升国际金融中心地位，深化内地与港澳台金融合作。进一步加快上海国际金融中心建设。

The next period,To gradually make the yuan convertible under capital accounts.Actively yet prudently proceed with banking implementation third edition Basel agreement.Explore and expand foreign exchange reserve multi-level channels and means for using,Perfect the foreign exchange reserve management system mechanism,Steadily diversified investment,Better achieve foreign exchange reserve safety/Flow and the value of the goal.Continue to use of foreign exchange reserves to support national strategic materials reserve/Large financial institutions reform and conditional all kinds of enterprise"Go out".Continue to support Hong Kong consolidate and promote international financial centre,Deepening the mainland and Hong Kong, Macao and financial cooperation.Further speed up the Shanghai international financial center construction.