普惠金融体系构建进程中的监管目标和监管原则探讨

A Study of the Targets and Principles of Financial Regulation in the Process of Establishing Inclusive Financial System

金融监管机构必将成为普惠金融体系构建的重要推动者,为了达成多重监管目标,机构应贯彻市场化、相称性和开放包容等原则。对于按照商业原则进行的金融资源配置活动,机构应尽力避免干预,这是市场化原则的基本要求;相称性原则本质上就是基于风险的监管原则,根据金融服务提供者、金融活动、产品等特定风险进行相应的监管,以保证由监管所带来的成本与所产生的收益相对称;开放包容原则为金融创新提供了监管空间和政策激励。

Financial regulators will become the significant promoter in the process of establishing inclusive financial system.This paper argues that the regulators should insists on three principles,namely,principle of market orientation,principle of proportionality and principle of openness and inclusiveness for fulfilling multitargets of financial regulation.Principle of market orientation sets the guideline for regulators not to intervene on the decisions about financial resources allocation in accordance with business principles by financial institutions.Principle of Proportionality means that the supervisions and regulations are implemented according to the risks of financial providers,financial activities and financial products,and ensures that the regulatory benefit is proportional to the costs incurred by the supervisions and regulations.Principle of openness and inclusiveness offers the regulatory space and incentive for financial innovation.