产融结合进程、研究动态与发展趋势——基于我国经济体制改革的逻辑

Process of Industry-Finance Combination,Trends of Research and Development——Based on the Logic of China's Economic System Reform

改革开放以来,我国走出了一条不同于英美的市场主导型、德日的银行主导型和韩国的政府主导型产融结合之路。目前我国企业集团的产融结合呈现出央企挑大梁、地方国企崛起、民营企业集团争持金融牌照的态势,新兴高科技互联网企业利用技术优势新晋产融结合。本文遵循制度—体制—机制的演化规律,研究发现我国产融结合的广度和深度与经济体制改革紧密相关,具有鲜明的阶段性特征,历经萌发期、形成期和发展期几个阶段。因此,在我国当前经济发展新常态和全面深化改革要求下,产融结合应从系统性、协同性、突破性和前瞻性四个方面作更深入的研究。

Since the reform and opening-up,our country has embarked on a road of industry-finance combination which is different from the market-based type of Britain and America,the bank-leading type of Germany and Japan,and the government-oriented type of Korea. At present,the industry-finance combination in our country demonstrates the following features：central enterprises play the leading role,local enterprises are blossoming,private enterprises are competing for financial licenses,and internet enterprises utilize technological superiority to cut a figure. Following the evolvement rule of institution-system-mechanism,this paper finds that,the breadth and the depth of our country’s industry-finance combination are closely related to the economic system reform. The industry-finance combination is characterized by distinct stages and goes through germination stage,evolution stage and formative stage. Based on the above research,combined with characteristics of china’s new normal economic development and the requirement of comprehensively deepening reform and opening-up,this paper shows the prospects of development trend when china’s industry-finance combination enters into a more deepening stage. So further study should be conducted in the four aspects of systematicness,cooperativity,breakthrough and perspectiveness.