全面深化改革 促进金融转型发展

Deepening Comprehensive Reform andPromoting Financial Restructuring

本文从政府、企业、市场三位一体的改革框架出发,简要回顾了过去一个时期我国金融改革过程和当前所处的阶段性特征。总体看,未来一个时期的金融改革,在改革策略和推进方式上,应从以往事后承认式的诱致性制度变迁,转向政府主动系统推进的强制性制度变迁,特别是要通过加快政府职能转变,为深化金融改革创造良好的外部环境。与此同时,既要看到整个经济改革转型给金融深化带来的机遇,也要充分发挥金融改革先行先试的反作用,'倒逼'整个经济改革转型。基于此,改革重点应从金融机构和金融市场创新层面,转向更深层次上的体制机制创新和政府职能转变,并增大对改革风险的容忍度,主动及时校正试错风险。

From the reform framework perspective of government,enterprise and market,the past financial reform process and the characteristics current stage are briefly reviewed.In general,the reform strategy and promoting mode of financial reform in the future should turn to the government initiated compulsory institutional transition,from the induced institutional transition by recognized event in the past.In particular,the transformation of the government function is key to deepen the further financial reform.It is not only essential to notice opportunities to financial deepening brought by economic restructuring,but bring the financial reform prior-pilot reaction into full play,while reinforcing the overall economic reform and transformation.The reform should focus on further mechanism innovation,rather than the institutional level.Notably,in the context of the reform entering into crucial stage and profound stage,the interest adjustment would be more complex and profound,which demands increased level of reform risk tolerance and timely calibration initiated by the government.