在不同于欧美市场发展阶段下，亚洲金融业的创新、监管与合作如何平衡？

In the different from the European and American market under the stage of development,The Asian financial innovation/Supervision and cooperation how to balance?

　　“金融创新如同高速公路开车，关键在度。”中国投资公司监事长金立群昨天在印度孟买举行的“博鳌亚洲论坛金融合作会议”上表示，亚洲须谨防过度监管，金融创新则仍是亚洲金融业努力的方向。

"Financial innovation as highway driving,Key in degrees."The China investment corporation supervisors long JinLiQun yesterday held in mumbai, India"Boao BBS financial cooperation conference"Said on,Asia must beware of excessive regulation,Financial innovation is still the Asian financial industry direction.

　　在不少与会专家看来，受国际金融危机影响，亚洲金融创新仍然不足，金融监管不能过度且需要适合亚洲各国自身发展状况；同时，亚洲区域金融合作应该在立足风险防范的同时，更加注重为实体经济服务。

In a lot of the experts it seems,By the international financial crisis,The Asian financial innovation is still insufficient,Financial supervision cannot excessive and need for Asian countries in their own development;At the same time,The Asian regional financial cooperation should be based on risk prevention at the same time,Pay more attention to service for the real economy.

　　创新与监管 Innovation and supervision

　　金立群说，和监管不足一样，过度监管也是全球经济复苏面临的最大风险，并将对中印等新兴经济体造成很大影响。在他看来，过度监管如同过度税收，其影响是破坏性的，金融行业对过度监管十分敏感，因此这种情况会提高成本，驱使企业“用脚投票”，进入监管缺失的领域。金立群认为，中国金融体系必须提高效率，适应实体经济对融资的需求，比如降低中小银行准入门槛，以更好地满足中小企业的融资需求。

JinLiQun said,And as the insufficient supervision,Excessive supervision is the global economic recovery of the biggest risk,And India and other emerging economies caused great influence.In his view,Excessive supervision as excessive tax,Its influence is destructive,The financial industry is very sensitive to excessive regulation,So this kind of situation will improve cost,Driven enterprise"Vote with their feet",The lack of supervision into the field.JinLiQun think,China's financial system must improve efficiency,To adapt to the entity economy on financing needs,Such as reducing of small and medium Banks admittance threshold,To better meet the small and medium-sized enterprise financing demand.

　　中国工商银行(601398,股吧)副行长张红力则表示，在金融创新方面，亚洲经济增长迅速，对于金融服务的需求日益多元，基础设施融资、中小企业融资、资本市场进一步结构化发展等都有发展需求，但亚洲金融体系仍处于发展早期阶段，银行能够提供的服务相对有限，亚洲应该首先平衡实体经济对银行的需求以及银行供应之间的关系。

The industrial and commercial bank of China(601398,guba)Vice President ZhangGongLi, said,In the financial innovation,The Asian economy is growing rapidly,For financial service needs increasing multiple,Infrastructure financing/Small and medium-sized enterprise financing/Capital market further structured development have development needs,But the Asian financial system is still in the early stages of its development stage,The bank is able to provide services relatively limited,Asia should first equilibrium entity economy on bank's demand and the relationship between bank supply.

　　“亚洲的金融监管不能照搬美国经验，”张红力继续说，亚洲金融业与西方处于不同发展阶段，因此需要设计出更合适亚洲新兴经济体的监管体系。他以中国为例，银行资产占全部金融资产的93%，证券保险等其他资产仅占7%，而在发达国家，资本市场占金融资产比例高达70%，因此需要不同的监管结构。

"Asia's financial regulation can't copy the American experience,"ZhangGongLi continue to say,Asian and western financial industry in different stage of development,Therefore need to design a more appropriate Asian emerging economies supervision system.He in China, for example,Bank assets accounted for 93% of all financial assets,Securities insurance and other assets accounted for only 7%,But in the developed countries,The capital market of financial assets ratio as high as 70%,Therefore need different regulatory structure.

　　张红力说，长远来看，如果不考虑适合自身情况的金融监管体系，实体经济将会受到很大影响，必须个性化定制适合国情的金融监管。

ZhangGongLi said,The long run,If you don't consider suitable for oneself circumstance of financial supervision system,The real economy will be greatly affected,Personalized custom must be suited to the condition of financial supervision.

　　“在亚洲地区国家，资本市场关键在于要全面配套创新，不能仅局限于某一个领域，否则会造成诸多问题，比如监管套利，就是市场参与者会利用这种套利空间。”CICI证券执行董事、首席执行官Anup Bagchi则指出，而作为监管机构，必须密切关注市场反馈，并随之进行修正。

"In Asia countries,Capital market is the key to all-round supporting innovation,Not only limited to a certain field,Otherwise it will cause many problems,Such as regulatory arbitrage,Is the market participants will use this arbitrage space."CICI securities executive director/Chief executive Anup Bagchi is pointed out,And as regulators,Must pay close attention to market feedback,And then modified.

　　经济：最糟糕时候已经过去 economic:The worst was over

　　谈及亚洲金融合作，中国财政部财政科学研究所所长贾康表示，一是要支持实体经济发展，亚洲各国在项目以及各自经济增长点方面有合作空间和潜力；各地区资金运用结构不同，因此可将资金在不同经济体之间调剂，在互利原则上进行金融融资合作。

Talk about the Asian financial cooperation,China's ministry of finance director of the institute of fiscal science jia kang said,One is to support the real economy development,Asian countries in the project and their economic growth point in space and potential cooperation;Each district fund use different structures,So can put money in different economies between dispensing,In the mutual benefit in principle for financial financing cooperation.

　　其次，亚洲各经济体的基础设施发展是现实需要的，基础设施发展具有规模大、周期长的特点，且有特定专业知识，政府—私营部门合作项目（PPP）机制的运用有客观空间；同时，基础设施合作不限于亚洲国家，也可将欧洲国家和美国等纳入其中。

secondly,Asian economies infrastructure development is the realistic need,Infrastructure development has the large scale/Cycle long characteristics,And a certain professional knowledge,The government - the private sector cooperation projects(PPP)The use of the mechanism are objective space;At the same time,Infrastructure cooperation not limited to Asian countries,Also be European countries and the United States into among them.

　　“三则是要继续促进亚洲地区货币互换，扩大规模。”贾康说。此外，他还坦言，欧元危机持续发酵的今天，再谈亚元似乎不合时宜，但如果将眼光放远一点，30年、50年乃至更长的时期内，亚元梦想不应轻易放弃。

"Three is to continue to promote Asia monetary exchange,expansion."Jia kang said.In addition,He also said,The euro crisis continuous fermentation today,To discuss the yuan seems to be out of time,But if the eye put away,30 years/50 years and even a longer period of time,The yuan dreams should not give up easily.

　　美银美林印度经济学家Indranil Sengupta则说，最糟糕的经济局面已经过去，2013年将会是漫长下行周期终点之后的“起点”。到2014年，所有亚洲主要经济体都将强劲复苏。他预计，明年中国经济增速达8%，到2014年保持在7.5%~8%。“未来24个月内，人们可以看到整个下行周期的调转。”他说。

Bank of America merrill lynch India economist Indranil Sengupta said it was,The worst economic situation has been in the past,In 2013 it will be a long descending cycle after the end"Starting point".By 2014,All the major Asian economies will be strong recovery.He is expected to,China's economic growth next year 8%,By 2014 maintained at 7.5% ~ 8%."The next 24 months,People can see the whole descending cycle of the turn."He said.