论潜伏性金融危机的化解与中国信达模式的形成

Hidden Financlal Crisis And China Cinda

直接损害金融稳健与安全运行的最主要因素是银行不良资产。诚然,目前中国银行业巨额不良资产并没有转化成现实的金融危机,但潜伏性金融危机的存在已经对国家的经济安全构成威胁。世界上各国经验和教训也表明,银行业不良资产的重组越主动、进行得越早,不良资产重组的难度越小,成本也越低。国外经验还表明,银行不良资产处理需要专门机构、专业运作;需要立法支持,政策配套,制度创新;需要与企业体制改革和重组相结合,需要与整个银行体制改革相结合,但更重要的是需要财政或者中央银行为银行不良资产重组提供后援。1999年初,中国政府决定借鉴国际经验,成立金融资产管理公司,专门处置银行不良资产,形成了“信达模式”,并引起国内外的广泛关注。

One of the most direct dangers to a stable and safe operation of financial sector is non-performing loans (NPL's)within commercial banks.The NPL's in the Chinese banks have not been a realized financial crisis yet,this hidden financial crisis however has already been a direct danger to the national economy.International experiences have proved that the more active the restructure of the NPL's,the earlier the restructure of the NPL's,the less difficult it is in the NPL's restructuring and the less it will cost.International experiences also show that restructure of NPL's needs special institutions and professional operations,it needs both legislative and policy supports,it needs innovative economic systems,too.In order to be successful,in addition of the above supports we should reform and restructure state-owned enterprises(SOE's),we should reform the whole banking system,and most of all we should provide financial supports as well as supports from the Central Bank.The Chinese government decided to setup financial assets management corporations in early 1999 based on the international experiences to deal with the NPL's,China Cinda is the first of such assets management corporation that setup in April of 1999.