“拿不准。怎么办？咱们就稳一稳，看一看，看准了再动这块。”中编办副主任王峰昨日表示，现行的金融分业监管向混业监管过渡“究竟怎么动，还要有一个研究和实践的过程”。这也意味着我国“一行三会”的分业监管模式还将持续一段时期。

"Not sure.What to do?Let's hold a steady,Take a look at,To touch the target."ZhongBianBan, deputy director of wang feng said yesterday,The current transition to mixed regulation of financial industries managed and supervised respectively"What move,Also there is a process of research and practice".This also means that our country"A line of three will be"Differentiated regulation pattern will continue for a period of time.

　　随着我国金融机构综合化经营越来越明显的趋势，混业经营以及混业监管的呼声也越来越高。接受《第一财经日报》采访的多名专家表示，混业经营是中国金融机构未来发展的一个必然趋势，混业监管也将是必然的趋势。不过，目前实行混业监管还为时过早，现阶段应该着力加强监管协调。

With China's financial institutions comprehensive business growing trend,Mixed management and mixed regulation calls for more and more is also high.To accept[First financial daily]Several experts said,Mixed management is an inevitable trend for the future development of Chinese financial institutions,Mixed regulation will be the inevitable trend.but,Implementing the mixed regulation is premature,At this stage should focus on strengthening supervision coordination.

　　混业趋势 Mixed trend

　　在昨日的全国人大会议记者会上，王峰称：“我们也注意到混业监管是一个发展趋势，我们国家在当前的情况下，有没有可能通过体制改革一下子过渡到混业监管呢？这不是机构调整的问题，监管的方式要不要作调整？拿不准。我们是不是到了这个阶段？拿不准。” 他表示，金融监管体制改革还需要有一个研究和实践的过程。

At yesterday's meeting of the National People's Congress news conference,Mr Wang said:"We also noticed that mixed regulation is a development trend,In the current situation in our country,Would it be possible through system reform transition to mixed regulation at once?It's not a question of institutional changes,Do you want to make an adjustment regulation?Not sure.Are we at this stage?Not sure." He said,Financial supervision system reform also needs a process of research and practice.

　　“混业经营是必然的趋势，金融控股公司也会不断涌现。”农行首席经济学家向松祚在接受本报采访时表示。

"Mixed management is inevitable trend,Financial holding company will be constantly emerging."Agricultural bank's chief economist, xiang songzuo said in an interview with the financial times.

　　2002年，中信集团、光大集团、平安集团被批准成为综合金融控股集团试点，之后，金融控股公司的版图也在不断扩展。最为明显的是，随着理财产品、大资产管理、资产证券化等领域的不断放开，创新也随之而来。银行、保险、证券机构、信托等领域的业务交叉也越来越明显。

In 2002,,Citic group/Everbright group/Ping an group have been approved to become pilot integrated financial holding group,after,Financial holding company of the map are also expanding.The most obvious is that,As wealth management products/Large asset management/The fields of asset securitization, etc,Innovation also subsequently and come.The bank/insurance/Securities institutions/Trust in the areas of business is becoming more and more obvious.

　　2012年出台的《金融业发展和改革“十二五”规划》中也提出，继续积极稳妥推进金融业综合经营试点。引导具备条件的金融机构在明确综合经营战略、有效防范风险的前提下，积极稳妥开展综合经营试点，提高综合金融服务能力与水平。

Introduced in 2012[Financial sector reform and development"The 12th five-year"planning]Also put forward,Continue to actively yet prudently proceed with financial industry comprehensive management pilot.Guide qualified financial institutions in comprehensive management strategy/Under the precondition of effective prevention of risks,We will actively yet prudently carry out comprehensive pilot run,Improve the comprehensive financial service ability and level.

　　今年两会上， 全国政协委员、招商银行(600036,股吧)行长马蔚华建议，由全国人大常委会再次组织修改 《商业银行法》，以优化商业银行综合化经营的法律环境，支持商业银行开展综合化经营。与马蔚华的建议相同，全国人大代表、中国光大集团董事长唐双宁也提交一份有关修订《商业银行法》的提案。他建议适当放宽商业银行分业经营限制，增加银行的业务范围。同时提出，实行吸储类、非吸储类、自由资金放贷机构三类设置相关牌照，监管区别对待。

On the two sessions this year, The CPPCC national committee/China merchants bank(600036,stocks)President Mr. Ma suggested,By the standing committee of the National People's Congress organization change again [Commercial bank law],To optimize the integration of commercial bank operation and legal environment,Support commercial Banks to carry out the comprehensive management.The same as Mr Ma's advice,The National People's Congress/China everbright group chairman Tang Shuangning also to submit a revision[Commercial bank law]The proposal of.He suggested that appropriate ease restrictions on decentralized management of commercial bank,Increase the bank's business scope.At the same time put forward,Practice the deposit-taking class/Non deposit-taking class/Free money lenders three Settings related license,Regulations to discriminate.

　　“当前，在金融业对外开放不断深化的环境下，为应对外部挑战，我国金融机构开展综合经营是面对现实的必然选择。”央行发布的《中国金融稳定报告（2012）》称。

"The current,In the deepening of the financial industry opening to the outside environment,In response to the external challenges,China's financial institutions to carry out comprehensive management is a necessary choice to face the reality."The central bank issued[China financial stability report(2012)]According to.

　　不过在北京大学国家发展研究院教授、巴克莱首席经济学家黄益平看来，吸取全球金融危机的“教训”，中国的金融机构混业经营仍需要更为谨慎。

But in the national development research institute of Peking University professor/Barclays chief economist huang yiping,From the global financial crisis"lesson",Mixed management in financial institutions in China still needs to be more cautious.

　　监管协调 Regulatory coordination

　　金融机构的综合经营将成为未来一大趋势，目前已成行业共识，这也正在成为金融监管的一项重大挑战。

Comprehensive management of financial institutions will become a trend in the future,Now has become a consensus of the industry,It is becoming a major challenge of financial regulation.

　　“"三会"分业监管的格局，必然会带来不同行业监管存在不同的差异，这种差异化的监管，在金融机构综合经营越来越明显的趋势下，会形成监管套利，风险也有可能相互渗透。”中国人民大学财政金融学院副院长赵锡军在接受本报采访时表示。

""Three will be"The pattern of supervised respectively,Different differences will inevitably bring different industry regulations,The regulation of differentiation,Under the comprehensive management in financial institutions growing trend,Will form the regulatory arbitrage,Risk may also be permeable."Zhao xijun, vice President of the institute of finance, renmin university of China said in an interview with the financial times.

　　向松祚也分析称，目前的监管的确不适应混业经营和全能金融、全能银行发展趋势。“大金融”监管，在近几年一直都在被讨论。

Said xiang songzuo is analysis,The current regulation is not adapt to the financial mixed management and omnipotence/Universal banking development trend."Large financial"regulatory,In recent years have been discussed.

　　“混业监管的改革未来还是要做的，但是还需要时间。”中央财经大学金融学院教授郭田勇对本报称，“不是说把三个会合并到一起就能够解决混业经营的监督。简单说，合并三个会达到了协调的目的，但是有可能会使得金融风险本身反而增大。”

"Mixed regulation reforms still need to do in the future,But also need time."Guo tianyong, a professor in the school of finance at the central university of finance and economics of the newspaper said,"Not to say that will put the three together can solve the mixed management oversight.Simple said,Merge three will achieve the goal of the coordination,But there are may make itself instead of increasing financial risk."

　　郭田勇表示，首先要对当前混业经营趋势进行研究，监管上怎么进行协调，进行探索，找到既能够控制风险，又能够鼓励创新的监管方式，再一步步地推到监管机构本身的整合上。

Guo tianyong, said,First of all to study of the current mixed management trend,Regulation on how to coordinate,To explore,Find both to control risk,And to encourage innovation mode of regulation,Step by step push to regulators on the integration of itself.

　　“我认为，中国金融机构的综合经营，未来会体现出多元化的业态，并不是所有机构都是混业。”赵锡军表示，未来中国的金融机构，有的会越来越专业化，有的可能会选择较为复杂的综合经营。基于此，他表示，无论是英国的金融监管风格，还是美国的金融监管设置都可以作为参照。不过，还是需要看中国金融机构未来的发展，现在也没有必要去一味强调“大金融”的监管改革方向。

"I think,China's integrated operation of financial institutions,Reflects the diversity of forms will be in the future,Not all institutions are mixed."Zhao xijun said,The future of China's financial institutions,There will be more and more specialization,Some may choose to more complex integrated management.Based on this,He said,Whether it is a British style of financial regulation,Or the United States financial regulatory Settings can be as a reference.but,Still need to see the development of China's financial institutions in the future,Now also don't need to blindly emphasizes"Large financial"The direction of regulatory reform.

　　即便如此，“金融监管加强协调”已是很多受访者的共识。“金融监管机构之间，肯定还需要进一步提高协调性，内部也需要有协调机制。”黄益平表示。

Even so,"Financial regulation coordination"Has been the consensus of many people."Between financial regulators,Certainly also need to further improve the coordination,Internal also needs to have coordination mechanism."Mr. Huang said.

　　2003年，银监会、证监会与保监会就召开了第一次监管联席会议，建立了“金融监管部际联席会议制度”。2008年，金融监管部际联席会议在央行的带领下再次启动。不过，目前有效的常态化协调机制仍付阙如。

In 2003,,The China banking regulatory commission/Securities regulatory commission (CSRC) and circ regulatory joint meeting convened for the first time,Set up"Financial regulation inter-ministerial joint conference system".In 2008,,Financial supervision joint inter-ministerial meeting under the guidance of the central bank to start again.but,The effective pay normalized coordinate mechanism is established.