以Shibor为基准强化金融产品利率市场化

该文分析认为市场化基准利率的缺失已成为利率市场化产品定价的主要困难之一，认为将Shibor建成我国市场化的基准利率体系是人民币利率市场化必由之路，同时将大幅完善产品的市场化定价机制；而通过建立以Shibor为基础的内部资金转移定价体系，可将市场信号传导至业务端，在现行条件下能使管制利率下的存贷款利率部分实现与市场化利率的接轨。

Use Shibor as the benchmark to strengthen interest rate marketization of financial products

The lack of market-decided benchmark of interest rates has become a primary constraint to the pricing of marketized interest-rate products. According to the author, the establishment of Shibor as a marketized benchmark system is a necessity in the reform to leave RMB interest rates to market forces. It will also greatly improve the mechanism that allows the market to decide product prices. By setting up a Shibor-based internal FTP system, market signals can be transmitted to the business end, and interest r...