驯服“灰犀牛”:中国亟需释放金融风险

Taming "Grey Rhino":China Urgently Needs to Unleash Financial Risks

当前中国金融领域的"灰犀牛"主要存在于房地产泡沫和企业债务堆积。要把过去积累的金融风险释放出来,一方面要淡化经济增长指标,下决心淘汰僵尸企业,货币政策中性化,改变官员的考核激励机制;另一方面要推动思想解放来稳定预期,要进一步推动简政放权。

The current ＂grey rhino＂ in China＇s financial sector mainly exists in the real estate bubble and the accumulation of enterprise debt. Release the financial risks that accumulated in the past, on the one hand, we should downplay the indicators of economic growth,resolve to eliminate zombie enterprises, make monetary policy neutral, and change the assessment incentive mechanism of officials; on the other hand, we should promote ideological liberation to stabilize our expectations, and further promote streamlining administration and delegating power.