刚刚闭幕的中央经济工作会议提出“要适当扩大社会融资总规模，……切实降低实体经济发展的融资成本”。要落实这个要求就需要完善多层次资本市场的建设。因为社会融资规模就包括股票、债券等直接融资方式。所以，完善多层次资本市场建设也是提升实体经济发展质量的内在需求。

Just closing of the central economic working conference put forward"To appropriate to expand social financing total dimensions,...To reduce the financing cost of the real economy".To implement this requirement will need to perfect the construction of the multi-level capital market.Because social financing scale including stock/Bonds direct financing methods.so,Perfect multi-level capital market construction is to enhance the quality of the entity economy development intrinsic demand.

　　一方面，更加注重实体经济发展质量的要求，需要多层次资本市场发挥更大的作用。

On the one hand,Pay more attention to the entity economy development quality requirements,Multi-level capital market to play a bigger role.

　　2013年是全面贯彻落实十八大精神的开局之年，是实施“十二五”规划承前启后的关键一年，是为全面建成小康社会奠定坚实基础的重要一年。因此，做好明年的经济工作意义十分重大。

2013 is the comprehensive implementation of the spirit of the eighteenth year of start,Is the"1025"Planning served in a key,Is built for the comprehensive well-off society lay a solid foundation in the important one.so,Do next year's economic work is of great significance.

　　十八大报告提出“深化金融体制改革，健全促进宏观经济稳定、支持实体经济发展的现代金融体系，加快发展多层次资本市场。”

The eighteenth big report"Deepening the reform of the financial system,To promote sound macro economic stability/To support the real economy development in the modern financial system,Accelerate the development of multi-level capital market."

　　实体经济是资本市场的基础和根本，而高效率多层次的资本市场将为实体经济发展注入强劲动力，对实体经济有着不可替代的作用。发展多层次资本市场也是促进经济转方式、调结构的客观需要，同时也能满足投资者的不同投资需求及风险偏好的多样化需求。

The entity economy is the foundation of the capital market and the ultimate,And high efficiency multi-level capital market will be the real economy development into a strong power,On the real economy having the effect that cannot replace.Multi-level capital market and promote economic turn way/Adjustable structure of the objective need,At the same time also can meet the different investors investment demand and risk preference of diverse demand.

　　金融业发展和改革“十二五”规划中提出，“十二五”期间资本市场将加大对中小企业的支持力度，进一步完善多层次市场体系并建立各层次市场间的有机联系。

The financial industry development and reform"1025"Plan put forward in,"1025"The capital market will increase during to small and medium-sized enterprise support,Further perfect multi-level market system and establish the market level between the organic connection.

　　在当下经济增速放缓、外需下降等复杂形势下，虽然中国经济仍然运行在正常区间，但世界经济充满不确定性，需要为外需严重恶化等糟糕情况提前做好准备，并争取尽可能早地应对和化解可能的大波动。这就需要实体经济的发展质量有所提升，而完善的多层次资本市场将会为其输送正能量。

In the present economic growth is slowing/Now in complicated situation,Although China's economy is running in normal range,But the world economy is full of uncertainty,The need for serious deterioration now worse prepared in advance,As soon as possible and try to deal with and resolve possible big fluctuation.This needs the entity economic development quality improved,The perfecting of multi-level capital market will for transmission positive energy.

　　另一方面，满足实体经济的筹融资需要，则需要加快发展多层次资本市场，这需要进一步深化改革。

On the other hand,Meet the needs of the real economy are comprehensively expounded,The need to accelerate the development of multi-level capital market,The need to further deepen the reform.

　　从各方面综合信息看，2013年将是改革提速年，一些重点领域的改革将会显著加快。而对于资本市场来说，除了继续深化体制机制方面的改革外，完善多层次资本市场建设将会再次取得实质性突破。唯有坚持改革不动摇，才能发挥好资本市场的积极作用。

From the aspects of integrated information to see,2013 will be reform in speed,Some key areas of reform will significantly speed up.For the capital for the market,In addition to continue to deepen the reform of the mechanism of the system,Perfect the construction of multi-level capital market will once again be substantial breakthrough.Only insist on the reform not be moved,To play the positive role of good capital market.

　　从今年的实际情况看，去年中央经济工作会议的精神得到了很好的落实，包括主板、中小企业板、创业板、新三板的建设都有所突破，尤其值得一提的是债券市场进一步实现了互联互通。

From this year's realities,Last year the central economic working conference spirit is a very good implementation,Including main board/Small and medium-sized enterprise board/gem/The construction of the new SanBan is a breakthrough,Particularly worth mentioning is the bond market further achieve the interconnection and interflow.

　　今年4月份，由央行作为召集人、国家发改委和中国证监会参加的公司信用类债券部际协调机制成立并召开了第一次会议。这标志着分割多年的银行间债券市场与交易所债券市场的互联互通取得了重大突破。10月底，10家证券公司获准参与非金融企业债务融资工具主承销商业务，则是债券市场互联互通的重大进展。

In April this year,The central bank as the convener/The national development and reform commission and the China securities regulatory commission to company credit bonds was BuJi coordination mechanism and held its first meeting.This marks the segmentation years of market of the bond between the bank and bourse bond market the inter-communication great breakthrough has been achieved.The end of October,10 securities company were allowed to participate in non-financial debt financing tool lead underwriter business,Is the bond market the inter-communication of significant progress.

　　2013年，债券市场的互联互通将会更进一步，同时债券市场对于经济转方式、调结构的促进作用会更加明显，多层次资本市场建设也将取得新的进展。

In 2013,,The bond market will further interconnection and interflow,At the same time, the bond market for economic turn way/Adjustable structure role will be more obvious,Multi-level capital market construction will also made new progress.

　　中央经济工作会议指出，党的十八大强调要推动经济持续健康发展，要求的是尊重经济规律、有质量、有效益、可持续的速度，要求的是在不断转变经济发展方式、不断优化经济结构中实现增长。实现经济发展的这个目标需要更加完善的多层次资本市场体系提供筹融资需求，而多层次资本市场体系的完善则需要改革的进一步深化。

The central economic work conference pointed out,The party's eighteen big stressed the need to promote the sustained and healthy development of economic,Demand is respect for economic law/quality/A benefit/Sustainable speed,Requirements is in constant transformation of the mode of economic development/Constantly optimize the economic structure to realize growth.To realize the goal of economic development needs to be more perfect multi-level capital market system are comprehensively expounded provide demand,And multi-level capital market system, the improvement of the need to reform the further deepening.