温州金融改革——资本市场视角

Wenzhou Financial Reformation—From theCapital Markets' Angle

温州传统制造业回报率下降,逐步失去竞争力,产业空心化,资金投机矿产和地产失败是温州民间借贷危机发生的根本原因;企业联保和互保增强了民间借贷危机的传染性。温州需要解决的核心问题是如何提升金融体系服务实体经济的能力,以及如何解决民间资金投资难问题。本文提出以下建议:一是提升温州经济的现代化水平,促进温州经济与现代化金融市场的融合;二是建设区域性资本市场,服务中小微企业;三是积极稳妥地发展证券、基金、期货等各类金融机构,更好地服务投资主体和融资主体;四是积极研究探索和试点市政债、资产证券化、优先股等产品,满足市场主体的投融资需求;五是加强金融监管,防范区域内系统性风险。

The manufacture industry in Wenzhou was absence of competence and its return came down in recent years,so people in wenzhou speculated on real estate and minerals.But the speculation failed and cause credit crisis.The situation became worse since Companies guaranteed each other.There is much capital which has no good investment chance and there are many SMEs which can not get finance.There are two key task in Wenzhou financial reformation.One is to improve the financial industry's ability to serve the real economy,the other is to find good investment chances for capital.We have five suggestions for the reformation.The first is to improve the level of wenzhou real economy.The second is to build up local capital markets.The third is to develop finance service institutions.The fourth is to innovate new financial products.The last is to strength financial supervision.