——与国际金融公司（IFC）副总裁兼司库华敬东的访谈录

- with the international finance corporation(The IFC)Vice President and treasurer HuaJingDong interviews

　　“人人有机会摆脱贫困，改善生活。”是国际金融公司（国际金融公司是世界银行集团成员之一，也是全球最大的专注于私营部门发展的国际开发机构）的愿景。作为一家国际开发机构，以通过在国际金融市场上筹集资本支持私营部门投资，向企业和政府提供咨询服务， 达到促进发展中国家可持续性经济增长作为目标，国际金融公司为成员国提供贷款和中介服务、股权投资、银团贷款、结构性融资、风险管理产品、贸易融资、债券发行、次级融资等金融产品以及相关联咨询服务。

"Everyone has a chance to get rid of poverty,A better life."Is the international financial firms(The international finance corporation is a member of the world bank group,Is the world's largest international development institutions focused on private sector development)The vision of.As an international development agency,To pass on the international financial market to raise capital to support private sector investment,Provide consulting services to companies and government, To promote sustainable economic growth in developing countries as a target,The international finance corporation for member states to provide loans and intermediary services/Equity investment/Syndicated loan/Structured finance/Risk management products/Trade finance/Bond issue/Subprime financing and other financial products and related consulting services.

　　国际金融公司（IFC）副总裁兼司库华敬东先生详细地向记者介绍了国际金融公司，这个在100 多个发展中国家开展工作，为帮助让新兴市场的企业和金融机构能够在创造就业、创造税收、改善企业治理和环境绩效的同时并为当地社区作出贡献的国际性金融机构将如何继续与中国共谋长远发展路径，并同时展开说明国际金融公司在债券市场上的积极投入办法。

The international finance corporation(The IFC)Vice President and treasurer Mr HuaJingDong told reporters in detail introduces the international finance corporation,The work in more than 100 developing countries,To help emerging market companies and financial institutions to create jobs/Tax revenues/At the same time and improve corporate governance and environmental performance for the local community to contribute to international financial institutions to continue to seek the long-term development path with China,And at the same time that the international finance corporation's active investment in the bond market.

　　发行人民币债券服务私营企业 Issuance of RMB bonds services of private enterprises

　　中国作为国际金融公司投资规模第三大的国家，华敬东就介绍说，自1995 年以来，国际金融公司一直与政府有关部门合作推动国内金融市场的发展，而合作领域包括：改善金融服务的商业环境，促进小微贷行业成长，加强商业银行实力，以及发展中国债券市场。2005 年10 月，国际金融公司有幸成为首个在中国发行人民币债券的境外发债人。首笔熊猫债券共募得11.3 亿元，均用于支持私营部门发展。2006 年，国际金融公司再次发行熊猫债券， 募得8700 万元，成为首个实现连续发债的国际机构。通过熊猫债券，国际金融公司共为8 家中国公司提供融资，涵盖卫生、节能环保、金融服务和基础设施等国家重点扶持的领域。

The scale of investment in China as an international financial company's third largest country,HuaJingDong said,Since 1995 Since years,International financial company has been cooperating with relevant government departments to promote the development of the domestic financial market,And areas of cooperation include:To improve financial services business environment,Accelerate the development of small micro lending industry,Strengthening commercial Banks,And the development of China's bond market.2005 In October,International financial company is lucky enough to become the first foreign issuers to issue yuan-denominated bonds in China.The first panda bonds to raise 1.13 billion yuan,Are used to support private sector development.2006 years,The international finance corporation panda bonds again, Raised RMB 87 million,Became the first to realize continuous issuance of international institutions.Through the panda bonds,The international finance corporation to eight Chinese companies to provide financing,Covers the health/Energy conservation and environmental protection/Financial services and infrastructure such as national key support areas.

　　“发展非政府债市场并为私营公司拓宽融资渠道一直以来是国际金融公司与中国政府和监管部门合作的重点。正是这些领域的成果使中国较其他国家更好地抵御了全球性金融危机。但我们还有很多工作要做，确保私营部门能够分享国家发展和经济增长的成果。”华敬东谈到。而国际金融公司支持中国资本市场发展的努力与中国银行(601988,股吧)间交易商协会的使命不谋而合。2011 年11 月，国际金融公司与中国国家开发银行和中国进出口银行签署了《中国银行间市场交易商协会互换交易主协议》。这一协议的签署，标志着国际金融公司又多了一个为私营部门发展提供人民币长期融资的工具。迄今，国际金融公司已经利用这一货币互换项目拨放四笔贷款，用于为中小企业拓宽融资渠道、促进小微贷发展、支持农业养殖和增加质优价廉药品的供应。除此以外，华敬东表示，在2011 年1 月，国际金融公司还首次在香港特别行政区发行点心债券，募得1.5 亿元，用于支持北京神雾科技的业务拓展。此次发债更使国际金融公司成为首个成功利用离岸市场募集的人民币资金支持境内项目的国际机构。“总体来说，我们对这些人民币融资项目的表现很满意。我们也非常感谢包括国家发改委在内的各合作伙伴的大力支持。”华敬东对于国际金融公司到今天为止在中国所做的项目成果表示出莫大(博客,微博)的欣慰。

"Develop non-government debt market and broaden the financing channels for private companies has been the international finance corporation and the focus of the Chinese government and regulatory cooperation.It is these achievements in the field of China than other countries to better withstand the global financial crisis.But we still have a lot of work to do,Ensure that the private sector to share the achievements of the national development and economic growth."HuaJingDong talked about.And the international finance corporation (ifc) support with bank of China, China's capital market development efforts(601988,stocks)Traders association between mission coincides with mine.In November 2011,The international finance corporation and China development bank and China export-import bank signed[Swap dealers association between bank of China, the main agreement].The signing of the agreement,Marks the international finance corporation one more for private sector development to provide the long-term financing tool.So far,,International financial company has used the currency swap project showed four loan,Broaden the financing channels for small and medium-sized enterprises (smes)/Promote the development of small micro loan/Support agricultural farming and increase the supply of high quality and low price drugs.In addition to this,HuaJingDong said,In the 2011 In January,The international finance corporation also issue dim sum bonds in the Hong Kong special administrative region for the first time,Raised 1.5 One hundred million yuan,Used to support god fog the business development of science and technology Beijing.This issue makes the international finance corporation is the first successful use of the offshore market to raise renminbi funding projects in international institutions."In general,We are very pleased with these RMB financing project performance.We also thank you very much, including the national development and reform commission (NDRC), the support of partners."HuaJingDong for international financial companies so far in China project results show a great deal(blog,weibo)comfort.

　　浅谈国内企业融资需求 Introduction to the domestic enterprise financing needs

　　“国内银行仍然是中国企业融资的主要渠道。”华敬东坦然表示。目前国债、央行票据和金融债券依然主导国内的债券市场。就企业债券而言，中国在各新兴市场中表现突出。中国的企业发债额目前约占GDP 的四分之一， 而且增长迅速。在非洲，尼日利亚和南非的企业债发债额分别仅占其GDP 的百分之一和百分之二十。华敬东分析说：“与此同时，中国私营部门的融资需求也在增长。为应对这一挑战，深化境内债券市场就势在必行，其具体就包括开发衍生和对冲工具、鼓励金融创新、扩大包括境外投资人在内的投资群体以及优化监管架构。这些举措不仅有助确保中国境内市场抵御未来的国际经济动荡，更能为私营部门发展提供多样化的资金来源。”华敬东进而表示， 在财政部、人民银行、外管局和发改委的大力支持下，国际金融公司也希望继续为国内资本市场发展做出贡献，并通过提供本币融资支持中国私营部门的发展。

"Domestic Banks still is China's enterprise financing the main channel."HuaJingDong said.Current debt/Central bank bills and financial bonds still dominate the domestic bond market.In terms of corporate bonds,Performed very well in the emerging market in China.China's corporate bond issuance amount about GDP A quarter of the, And the rapid growth.In Africa,Nigeria and South Africa's corporate debt issuance amount only GDP respectively One percent and twenty percent.HuaJingDong analysis said:"At the same time,China's private sector financing needs are rising as well.To cope with this challenge,Deepening the domestic bond market is imperative,Its concrete including the development of derivatives and hedge tools/Encourage financial innovation/To expand the investment including foreign investors groups and optimizing the regulatory framework.These measures not only help to ensure that China's domestic market against the future international economic turmoil,More provide diversified sources of funding for private sector development."HuaJingDong then said, In the Treasury/The people's bank of China/Safe and with the support from the national development and reform commission,The international finance corporation also hope to continue to contribute to the development of domestic capital market,And by providing local currency financing to support the development of China's private sector.

　　在华融资规模将扩大到200 亿人民币 In China, financing scale will expand to 20 billion yuan

　　“我们积极参与熊猫债券和点心债券市场，这是国际金融公司承诺支持人民币业务的一部分。关于熊猫债券，我们在与有关部门沟通，希望获得政策支持，比如说获得更大的发债额度，从而使我们能够更为经常地发债并且创造更大的发展效应。通过发行债券，我们将继续支持重点行业的私营部门项目，这些行业包括：基础设施，金融服务和制造业。”华敬东就国际金融公司在华的发展未来对记者做了简单的介绍。在谈到国际金融公司在未来将于中国投入具体金额时，华敬东保守回答说，“关于金额，我很难给你一个具体的数字。不过如果我们每年在中国的投资一半是以人民币计价的话，我们对人民币的需求在未来十年内将达到200 亿元。”

"We are actively involved in the panda bonds, and dim sum bond market,This is part of the international financial commitment to support the RMB business.About panda bonds,We are in communication with related departments,Hope to get policy support,Such as greater debt limit,So as to enable us to more regularly issuance and create more development effect.Through the issuance of bonds,We will continue to support key industries of the private sector projects,These industries include:infrastructure,Financial services and manufacturing."HuaJingDong international financial companies in China the development of the future made simple introduction to the reporter.Referring to the international finance corporation in the future will go into specific amount in China,HuaJingDong conservative replied,"About the amount,It's hard for me to give you a specific number.But if our investment in China each year half is denominated in yuan,Our demand for the yuan over the next ten years to reach 200 One hundred million yuan."

　　协助推进人民币国际化 Help to push the internationalisation of the renminbi

　　国际金融公司在人民币结算交易上有不少的推动举措，华敬东认为，“人民币国际化是自欧元诞生以来最具国际影响力的金融市场发展进程之一。”接着他说：“为此，中国还需要一个与之经济增长相匹配的资本市场。而支持中国资本市场发展正是我们在中国工作的战略重点。我们通过为中国项目提供本币融资、与中国公司共同投资海外市场、直接参与境内和离岸人民币市场交易等方式实现这一目标。这些交易有助于增加人民币在国际市场的曝光率。”此外，去年8 月国际金融公司在香港设立的首个人民币票据贴现项目，为境内公司提供贸易融资和供应链融资。这一项目有助于使人民币成为贸易融资的主要结算货币。国际金融公司还帮助中国私营企业走出去，投资包括非洲在内的其他发展中国家。

International financial company of many push on the yuan to settle transactions,HuaJingDong think,"RMB internationalization is the most international influence since the birth of the euro's financial market development process."Then he said:"To do this,China will also need a match with the economic growth of the capital market.And support the development of China's capital market is our strategic focus to work in China.We offer local currency financing through projects in China/Jointly with Chinese companies to invest in overseas markets/Directly involved in the domestic and offshore renminbi markets trading way to achieve this goal.These deals will help increase the exposure rate of the renminbi in the international market."In addition,8 last year International financial company in Hong Kong's first renminbi bills discounting project set up,Financing for domestic companies to provide trade finance and supply chain.This project helps to allow the yuan to become the main currency of trade financing.International financial company also help China's private enterprises to go out,Investment in other developing countries, including Africa.

　　致力解决核心问题，助推金融改革 To solve the core problem,Boost financial reform

　　金融系统的改革是一个任重而道远的过程，华敬东表示说“我们注意到中国政府推动金融改革的一系列努力。”同时他也强调，如国际金融公司这样的国际金融机构可在这一过程中发挥重要的支持作用。他介绍说，自1985 年首笔投资以来，国际金融公司一直支持中国的改革进程、推动私营部门发展，分享国际经验，与政府和私营部门合作伙伴一起实现发展目标。这也是与世行集团的中国国别伙伴战略一致的。世界银行集团金墉行长在上任之初就提出，在终结贫苦和共享繁荣方面取得重大成果的国家有几个共同点，即推动审慎经济增长的长期政策、基本的基础设施和服务以及一个有竞争力的私营部门。“我们目前正在研发一系列新的投资和咨询产品，尤其是那些能为农村地区和中小微企业拓宽融资渠道的产品。以资金管理为例，国际金融公司正在探索为债券提供信用增级。国内有些组织自身的信用评级不足以支持他们在境内发债。我们正在与国内机构探讨为这样的组织提供担保，使其达到发债标准。我们还在考虑为国内金融机构的贷款组合进行债券化。”华敬东透露道。

The financial system reform is a process of a long way to go,HuaJingDong said"We noticed that the Chinese government to promote financial reform, a series of efforts."He also stressed at the same time,International financial institutions such as the international finance corporation (ifc) can play an important supporting role in this process.He said,Since 1985 Years since the first investment,The international finance corporation has always supported the reform process of China/Promote private sector development,Share the international experiences,With the government and the private sector partners to achieve development goals.This is also consistent with the bank group's country partnership strategy for China.The world bank group Jin Yong governor was put forward at the beginning of the office,In the end poor and Shared prosperity major achievements were made in a few countries have in common,Namely to promote the growth of prudent economic policy for a long time/Basic infrastructure and services, as well as a competitive private sector."We are currently in the research and development a series of new investment and advisory products,Especially those for rural areas and small and medium-sized enterprises to broaden the financing channels of products.In money management, for example,The international finance corporation is exploring to provide bond credit enhancement.Domestic some organizations within China's own credit rating is not enough to support their debt.We are working with the domestic institutions to explore for such organization guarantee,To the issuance of standards.We are also considering for domestic financial institutions loan portfolio of bonds."HuaJingDong revealed.

　　华敬东表示说，国际金融公司一直携手国内各合作伙伴助力中国资本市场发展，为基础设施和服务业提供资金，并为中国私营部门提供长期融资。“我们相信，这些举措有助于中国的私营部门保持增长从而创造就业机会，同时为中国的长期和谐发展做出贡献。”他如是说。

HuaJingDong said,International financial company has been hand in hand with the domestic partners support China's capital market development,Funding infrastructure and services,And provide long-term financing for China's private sector."We believe that,These measures will help China's private sector growth to create jobs,At the same time contribute to the harmonious development of China's long-term."He said.

　　在世界银行集团“建立一个没有贫困的世界”伟大愿景的带领下，国际金融公司肩负着帮助私营部门发展，对其提供独特的金融产品与咨询服务的组合，为客户和股东国政府创造价值的同时促进可持续性的、有实效的发展的使命，而这一切如华敬东所言，也在中国处于稳步的推进过程中。

In the world bank group"Build a world without poverty"Under the guidance of great vision,International financial company to shoulder the help the private sector development,For its unique combination of financial products and advisory services,Create value for customers and shareholders governments at the same time to promote sustainability/The mission of the development of effective,And all this like HuaJingDong puts it,Also in the process of China is steadily advancing.

　　华敬东先生，中国籍，于2011 年5 曰加入IFC，任职IFC 副总裁兼司库，领导资金管理部和银团贷款管理部。

Mr HuaJingDong,Chinese,5 yue joined the The IFC in 2011,The The IFC vice President and treasurer,Leading fund management and syndicated loan management department.

　　华先生在加入IFC 之前，曾在2003 年至2011 年5 月就职于亚洲开发银行(ADB)，常驻马尼拉。在ADB 任职期间，他先后担任资金风险管理部主管、资产负债管理部主管、资金业务主管等职务，并在2008 年成为ADB 的副司库。2003 年加入ADB 之前，华先生曾在联合国开发署（UNDP）的资金管理部工作6 年，常驻纽约。1994-1997 年，他曾就职于非洲开发银行（AfDB），常驻科特迪瓦的阿比让，参与资金管理和风险管理的各种业务。

Mr China before joining the The IFC,From 2003 to 2003 in May at the Asian development bank(The ADB),Based in Manila.The The ADB tenure,He has successively served as capital risk management department director/Assets and liabilities management department supervisor/Chief, etc money business,And in 2008 became the The ADB's deputy treasurer.In 2003 to join the The ADB before,China has in the United Nations development programme(The UNDP)Working capital management 6 years,Based in New York.1994-1997 years,He worked at the African development bank(AfDB),Abidjan in cote d 'ivoire,Participate in various business capital management and risk management.

　　华先生的职业生涯开始于1983 年，他曾在中国化工建设总公司从事化学工程和项目管理工作，并参与了多个中国化工领域的工业项目。

Mr Hua's career began in 1983,He worked for China national chemical construction corporation is engaged in the chemical engineering and project management,And participate in a number of industrial projects in the field of chemical industry in China.

　　华先生拥有青岛科技大学的化学工程学位，德克萨斯大学（阿灵顿）的金融MBA 学位和哥伦比亚大学的MPA 学位。

Mr. China has a degree in chemical engineering of Qingdao university of science and technology,The university of Texas(Arlington,)The finance MBA and MPA at Columbia University Degree in.