中国的宏观经济运行与资本市场发育

China's Macroeconomic Condition and the Growth of Capital Markets

中国的经济运行结束了连续 7年的下滑态势 ,开始进入周期运行的上升轨道 ,但复苏基础不稳的问题日益显现 ,目前仍然是通缩影响大于通胀危险。在中国目前的转型和发展中 ,金融体系的结构和效率至关重要 ,逐步形成市场经济的信用秩序和债信文化 ,放开民间金融和推进利率市场化是无法回避的选择。从近期看 ,今年中国经济增长有可能与上年持平或稍好 ,从长期看 ,中国经济将至少还可以出现 1

After seven years' continuous slowdown, China's economy is beginning to follow the upside track of the business cycle. However,the unstable basis of the recovery has manifested itself. Now, the hazard of structure and efficiency of financial markets are the key to China's current transition and development, the development of private financial system and the liberation of interest rates is the inevitable choice. From a short term perspective, this year is at least as good as last year; from a long term perspective, China's economy can have at least ten year's accelerated growth.