资本约束、风险管理与商业银行成长

基于资本必须覆盖风险命题的要求，银行的风险管理能力决定了银行的资本规模和资本的配置，银行资本管理实质上等价于风险管理，资本约束实质上就是风险约束。资本软约束是制约中国商业银行成长的主要障碍之一，但仅仅致力于资本充足率问题的解决并不能保证我国商业银行的可持续成长，风险约束是制约我国商业银行成长的瓶颈。只有从制度、技术和经营战略等方面入手，不断提高风险管理能力，建立以资本约束为核心的业务增长模式和资源配置方式，尽快实现成长模式由资金约束到资本约束的转变，中国商业银行才能在效益、质量和规模协调发展的基础上实现持续成长。

Capital Constraint, Risk Management and Growth of Commercial Banks

Propositionally, capital must cover risk. Capital scale and capital allocation of banks are determined by banking capability to manage risks. In fact, banking capital management is equal to risk management and capital constraint to risk constraint. Capital soft constraint is one of the barriers impeding the development of commercial banks in China. Mere solutions to capital adequacy cannot guarantee the sustained development of commercial banks in China, whose growth is bottlenecked by risk constraint. It is only when risk management capabilities are improved in system, technology and business strategy, growth model with capital constraint as the core and resource allocation pattern are established and transformation from assets constraint to capital constraint is accomplished that our commercial banks can develop in a sustained manner in terms of efficiency, quality and coordinated scale growth.