推进产业转型升级亟需加快金融改革与创新

Accelerating Financial Reform and Innovation to Promote Industrial Transformation and Upgrading

受新冠肺炎疫情影响,经济全球化面临极大的挑战。中国经济下行压力巨大,2020年一季度经济下降6.8%,如何激发经济增长活力,成为当前及今后相当长时间内需要我们思考的重大课题。从金融的视角看,金融如何支持中国经济发展,顺利实现产业升级与经济转型,成为推动中国经济增长的重要驱动力量?中国的宏观杠杆率仍然在可控范围内,国债规模还可以适度增大,居民的消费金融仍然可期,中小微企业贷款仍然有较大提升空间。中国的社会融资仍然是以银行为主导的间接融资模式,人民币贷款规模仍在社会融资结构中占据60%以上的份额。如何进一步加大金融改革力度和深度,建设多层次资本市场体系,加快金融创新,使得金融科技发挥更大的作用,是实现中国经济增长的关键一环。

The COVID-19 pandemic has posed a great challenge to economic globalization.The downward pressure on China’s economy has been huge.In the first quarter of 2020,the economy declined by 6.8%.So how to increase the vitality of economic growth has become a major issue that we need to think about at present and for a long time to come.From the financial perspective,how can finance support China’s economic development,help successfully realize industrial upgrading and economic transformation,and become an important driving force for promoting China’s economic growth?China’s macro leverage ratio is still under control,the scale of national debt can moderately increase,the consumer finance still has considerable hopes,and there is still much room for improvement in terms of the loans to small and medium-sized enterprises.China’s social financing still relies on the indirect financing mode dominated by banks,with the RMB loans accounting for more than 60%of the social financing structure.So the issues of how to further strengthen and deepen financial reform,build a multi-level capital market system,accelerate financial innovation,and make financial technology play a greater role are the key links to achieve China’s economic growth.