截至2012年11月末，经交易商协会注册发行的非金融企业债务融资工具存量规模突破4.1万亿元，较去年年底增加1.1万亿元，占社会融资总量约8%，累计发行量达到8.1万亿元，年度发行量近2.5万亿元。同期，银行间债券市场整体发行量约7万亿，占同期GDP的比重超过15%，交易量超过240万亿元，约为同期GDP的6.8倍。债券市场对经济发展和结构调整的促进作用日益突显，在资源配置中的基础性作用日益显现，交易商协会作为银行间市场自律组织，在推动金融支持实体经济、完善金融市场建设方面发挥了积极作用。

By the end of 2012 and the end of the month,The dealers association registration issue of non-financial debt financing tool stock size breakthrough 4.1 trillion yuan,By the end of last year is an increase of 1.1 trillion yuan,About 8% of total social financing,Accumulative total circulation reached 8.1 trillion yuan,Annual circulation nearly 2.5 trillion yuan.Over the same period,Market of the bond between the bank whole circulation of about 7 trillion,During the same period the proportion of GDP accounted for more than 15%,Volume of more than 240 trillion yuan,The same period is about 6.8 times of GDP.The bond market to economic development and structure adjustment, promote the increasing,The allocation of resources in the basic role of appears day by day,Dealers association as interbank market self-discipline organization,In promoting financial support the real economy/Perfect financial market construction plays a positive role.

　　一是促进社会融资结构优化，服务实体经济发展。为落实金融支持实体经济发展，交易商协会一直致力于推动银行间市场发展，市场规模稳步攀升，间接融资占比已经由2006年的91%下降至2012年1-10月份的84%，债券融资占直接融资的比重由60%增长至89%。债券市场在广度与深度上的延伸支撑了实体经济发展，优化了社会融资结构，改进和提升了金融服务实体经济的能力。

One is to promote social financing structure optimization,Service entity economy development.For the implementation of financial support for the development of the real economy,Dealers association has been committed to promoting inter-bank market development,The size of the market has been rising steadily,Indirect financing is already accounted for by 2006 decreased from 91% in 2012 to 1-84% in October,Bond financing accounted for the proportion of direct financing from 60% to 89% growth.The bond market breadth and depth in the stretch of the physical support economic development,Optimize the social financing structure,To improve and enhance the ability of financial services to the real economy.

　　二是贯彻落实国家宏观政策，促进经济结构调整。交易商协会自成立以来，主动落实国家宏观经济政策，有针对性地推动相关产业发展，促进经济结构调整。助力战略性新兴产业发展，支持相关企业发行债务融资工具共计2.8万亿元；丰富文化产业企业融资渠道，共支持文化产业企业发行债务融资工具1600亿元；服务现代农业、小微企业融资，为超过440家现代农业和小微企业提供债务融资近3500亿元；支持保障性安居工程建设，通过债务融资工具累计为保障性安居工程募集资金近300亿元。

Second is the implementation of the national macro policy,Promote economic structural adjustment.Dealers association since its inception,Actively implement the national macroeconomic policy,Targeted to promote the development of relative industries,Promote economic structural adjustment.Power strategic emerging industry development,Support related enterprise issued debt financing tool adds up to 2.8 trillion yuan;Rich cultural industry enterprises financing channels,Common support cultural industry enterprises issued debt financing tools is 160 billion yuan;Service modern agriculture/Small micro enterprise financing,For more than 440 modern agriculture and small micro enterprise provide debt financing nearly 350 billion yuan;Support indemnificatory comfortable housing project construction,Through the debt financing tool accumulated for indemnificatory comfortable housing project to raise funds nearly 30 billion yuan.

　　三是探索建立市场化机制，完善金融市场管理模式。

Three is to explore establish market mechanism,Perfect financial market management mode.

　　四是推动金融产品及机制创新，完善市场基础架构。

The fourth is to promote financial products and mechanism innovation,Perfect market infrastructure.