本报记者 曾会生

Our reporter Ceng Huisheng

　　“深入推进金融改革在很大程度上有利于丰富金融供给，进而推动经济结构的调整和经济转型。 ”在2月28日的 “中国财富管理50人论坛首届年会”上，央行副行长潘功胜表示，我国财富管理发展存在一些不足，应该推进金融改革以适应财富管理的需求。

"Deepening financial reform to a great extent, is conducive to enrich the financial supply,And the adjustment of economic structure and economic transformation. "On February 28, "The first annual conference of China wealth management BBS 50 people"On the,Pan gongsheng, deputy governor of China's central bank said,Wealth management development in our country exists some deficiency,Should promote financial reform to adapt to the needs of wealth management.

　　业内人士认为，随着经济总量和社会财富的增长，财富管理的需求和市场越来越大，中国财富管理的大时代已经到来。不过，财富管理的金融供给和需求还存在差距，必须推进多方面的金融改革来促进财富管理的发展。

The personage inside course of study thinks,As the growth of the economy and social wealth,Wealth management of demand and the market is more and more big,The great age of the Chinese wealth management has come.but,Wealth management of financial supply and demand gap,Must promote the various financial reforms to promote the development of wealth management.

　　财富管理大时代到来

Wealth management era

　　近年来随着我国经济持续高增长，全社会的财富总量大幅增长，全社会金融资产的总量急剧增长，这为财富管理发展提供了空间和机会。

With China's sustained economic growth in recent years,The total wealth growth of the whole society,The whole society increased sharply the amount of financial assets,This provides wealth management development space and opportunities.

　　随着金融财富总量的增长，金融资产的配置结构逐渐资源化。2005年年末，家庭金融资产结构中，住户部门的金融资产结构存款在80%以上。到2010年年末发生了结构性的变化，家庭金融资产结构中存款下降到了70%以下。据西南财经大学中国家庭金融调查与研究中心去年5月发布的《中国家庭金融调查报告》，中国家庭金融资产结构中，银行存款已降到57.75%。

As the growth of the total financial wealth,Gradually resource allocation structure of financial assets.At the end of 2005,The structure of the household financial assets,Household sector of the financial asset structure in more than 80% of deposit.To the structural changes have taken place at the end of 2010,Household financial assets structure deposit drops below 70%.According to the southwestern university of finance and economics China family financial investigation and research center released in May of last year[Chinese families financial report],Chinese household financial assets structure,Bank deposits have dropped to 57.75%.

　　北京银行(601169,股吧)行长严晓燕在上述年会上也介绍，从总量上来看，我国的GDP已经突破50万亿元，为财富管理奠定了基础；从客户的数量看，个人和投资资产超过一千万元的高净值人群已经由2006年36万增长到2012年的137万，增长的速度年均达到30%。预计到2015年高净值人群可以超过200万，可投资的资产规模将达到77万亿元，这也成为大财富行业的客户基础。

Bank of Beijing(601169,stocks)Governor YanXiaoYan also introduced at the annual meeting of the above,On the amount of it,China's GDP has surpassed 50 trillion yuan,Laid the foundation for wealth management;Seen from the number of customers,Personal and investment assets of more than $ten million high net worth population has been growing to 2006 by 2006, 360000 in 1.37 million,The speed of growth by an average of 30%.It is estimated that more than 2015 m by 2015 high net worth population can,Investable assets will reach 77 trillion yuan,It also become great wealth industry customer base.

　　民生银行(600016,股吧)发布的《2012中国私人银行市场报告》表示，未来亚洲将成为全球仅次于北美的第二大财富管理市场，其中约有50%的成长将来自中国。据估计，未来三年中国高净值人士复合年增长率将达到20%，到2015年，高净值人士人数将达到200万。

Minsheng bank(600016,stocks)Issued by the[China's private banking market report 2012]said,The future of Asia will become the world second only to North America's second-largest wealth management market,About 50% of the growth will come from China.It is estimated that,The future three years China's high net worth individuals compound annual growth rate will reach 20%,By 2015,The number of high net worth individuals will reach 2 million.

　　据媒体日前报道，今年监管部门将进一步推动券商资管发展；推动银行、保险、信托、私募基金等专业机构和产品参与资本市场；推动期货公司资管发展以及IPO上市等一系列措施，进一步壮大我国机构投资者队伍，促进资本市场长期稳定健康发展，从而为我国财富管理行业大发展打下坚实基础。

According to media has reported,Regulators this year will further promote the brokerage firm information technology development;Push the Banks/insurance/The trust/Private equity and other professional institutions and products involved in capital market;Propel the development of the futures company information as well as a series of measures such as IPO,To further expand China's institutional investors,To promote long-term stable and healthy development of capital market,For China's wealth management industry big development to lay a solid foundation.

　　财富管理的供给与需求存在差距

Supply and demand gap of wealth management

　　在潘功胜看来，我国金融资产收益比较低，虽然安全性较好，但收益有限，一定程度上影响了财产性收益增长，财富性收入比可支配收入较低，在多元化的过程当中，投资选择范围较小，无法根据市场收益水平、风险偏好、投资偏好来选择多种投资工具，难以通过多元化的投资分散风险，也较难获得稳定的投资回报。

According to Mr. Pan,Financial assets yield is low in our country,Although security is better,But earnings co., LTD.,To some extent, affected the property income growth,Wealth sex income lower than disposable income,In the process of diversification,Investment choice scope is smaller,Not according to the market profit levels/Risk appetite/Investment preference to select a variety of tools,Is difficult to through diversification of investment diversification,Also difficult to secure a stable return on investment.

　　另外，在财富管理方面，金融供给和金融需求方面存在较大的差异。潘功胜认为，在金融方面更多强调的是如何动用社会资源为实体经济服务，为经济增长服务。体现在金融制度的安排上，就是以银行为主导，集中社会上大量的资金资源，为经济发展源源不断地提供低成本资金，并根据政府的导向，将资金配置到优先行业与出口、工业化、基础设施等。“这一发展战略在经济的追赶阶段无疑是成功的，但从长期来看却是不可持续的，这种发展模式忽视了资产负债的方面，经济资产的保值增值不利于形成收入分配格局，进而影响到经济转型。所以从整个宏观经济来看，我国GDP保持长期较快增长，从微观层面看，不利于保障和改善民生。 ”

In addition,In wealth management,There are many differences between financial supply and demand side.Pan gongsheng, think,In finance more emphasis on how the use of social resources to serve the real economy,For economic growth.Reflect on the arrangement of the financial system,Is dominated by Banks,A lot of money on resources focus on society,To provide low-cost capital economic development continuously,According to the government's guidance,Allocation to the preferred industries and export/industrialization/Infrastructure, etc.."The development strategy in the economic catch-up phase is undoubtedly a success,But he is unsustainable in the long run,This kind of development model ignored the aspect of assets and liabilities,The economic value of the assets is not conducive to form a pattern of income distribution,, in turn, affect the economic transformation.So from the point of the whole macro economy,Maintain long-term rapid GDP growth in China,Look from the micro level,Is not conducive to ensuring and improving people's livelihood. "

　　民生银行上述私人银行市场报告分析，目前国内的市场参与者存在较强的同质化，中国私人银行业务竞争将更加激烈。未来私人银行业务应以产品的广度、深度为业务起点，逐步提升投资咨询服务能力，定制非金融服务，发展专属和远程渠道，优化费率定价，打造具有中国特色的价值主张。

Minsheng bank the private banking market analysis report,The current domestic market participants has strong homogeneity,China's private banking business will be more competitive.The future of private banking should take the breadth of the product/Depth of the starting point for the business,Gradually increase investment consulting service ability,Customize the non-financial services,Development of exclusive and remote channels,Optimization rate pricing,The value proposition of building with Chinese characteristics.

　　推动金融改革促进财富管理发展

Promoting the development of financial reform and promote the wealth management

　　鉴于此，潘功胜从五个方面讲述了如何推进金融改革来适应财富管理的需求。第一是加快制定金融发展规划。我国金融体系仍然是以银行为主的结构，由于风险的集聚和周期性不够，推动股票债券的发展既要完善多层次的股权市场，又要完善市场的功能和结构。

In view of this,Pan gongsheng, tells the story of how to promote financial reform from five aspects to meet the needs of wealth management.The first is to speed up the development financial development planning.Structure of China's financial system is still in the bank is given priority to,Due to risk of agglomeration and periodicity is not enough,Promote the development of stocks and bonds is to perfect the multi-level equity market,To improve the function and structure of the market.

　　第二是满足社会不同群体的财富管理的需求，要推动一些新型的有财富管理职能金融业态的发展，比如企业年金、保险、资产管理、私募股权基金多元化的发展。

Second is to satisfy the social demand for wealth management in different groups,To promote some new wealth management function of financial development,Such as enterprise annuity/insurance/Asset management/Private equity funds diversified development.

　　第三是加快商业银行业务结构的多元化。围绕财富管理行业的发展趋势，推动商业银行的转型和创新，实现从传统的融资向金融方面转变，向财富管理银行的转型，从资本消耗性银行向资本激越性银行发展，调整优化资产管理结构，形成多元稳定的市场格局。

The third is to accelerate the diversity of commercial bank's business structure.The development trend of surrounding the wealth management industry,To promote the transformation and innovation of commercial Banks,Realize transformation from the traditional financing to finance,To the transformation of wealth management Banks,From capital attrition to the agitation of capital bank development,Adjusting and optimizing structure of asset management,Form the pattern of diversity in the stability of the market.

　　第四是加快金融要素的市场化发展，利率汇率和市场化改革为财富管理行业产生巨大的催化作用。相关改革已经取得了阶段性的成绩，下一步将积极稳妥推动市场化的改革，逐步增强人民币汇率的弹性，保持人民币在合理水平上的基本稳定。

The fourth is to speed up of the elements of the financial market development,Interest rate marketization of exchange rate and the reform of an enormous catalytic role for the wealth management industry.Relevant reform has made phased achievements,The next step will actively yet prudently push marketization reform,Enhance the flexibility of the RMB exchange rate gradually,Keep basic stability of the renminbi at a reasonable level.

　　第五是稳步推进人民币资本账户的有效开放。资本项目逐步开放的同时，使得人民币与财富管理协调推进，相互支撑，使我国在全球配置资产实现财富管理的国际化。

Fifth, steadily promoting the effective opening of RMB capital account.Gradually open capital account at the same time,Make the yuan and wealth management coordination,To support each other,Make our country in the global allocation of assets to achieve wealth management internationalization.

　　不过潘功胜强调，尽管财富管理行业近年来发展迅速，但同时也存在一些体制约束和不太规范的因素，存在潜在的风险，在财富管理行业的发展过程中，需要加强监管，注意防范金融风险。 “相信随着金融改革和创新的不断推进，大财富管理行业必将获得更大的发展。 ”他说。

But pan gongsheng, emphasize,Despite the wealth management industry has developed rapidly in recent years,But at the same time there are some system constraints and less specification,A potential risk,In the process of wealth management industry's development,Need to strengthen supervision,Pay attention to guard against financial risks. "Believe that with the advancement of financial reform and innovation,Great wealth management industry is bound to gain greater development. "He said.