金融供给侧结构性改革:重点任务与路径选择

伴随着我国进入增长速度换挡期、结构调整阵痛期、前期刺激政策消化期的三期叠加阶段,实体经济与金融体系积累的风险日益凸显。为了打好防范和化解重大风险攻坚战,增强金融系统服务实体经济能力,有必要深化金融供给侧结构性改革。金融供给侧结构性改革的主要内涵包括:防范和化解两个风险、优化调整四个体系、强化三个监管基础、推动三个维度改革开放、处理好四个方面的辩证关系。金融供给侧结构性改革的四大重点任务是防风险、调结构、强监管、促开放。深化金融供给侧结构性改革需要从增加资本市场制度供给、补充金融基础设施建设短板、大力创新金融产品体系、重构政策传导的金融微观基础等方面着力。

Financial Supply-side Structural Reform: Key Tasks and Path Selection

As China enters the three stages of superimposition,i.e.the shifting period of growth rate,the painful period of structural adjustment and the digestion period of early-stage stimulus policy,the risks accumulated by the real economy and financial system become increasingly prominent.In order to prevent and resolve systemic risks and increase the financial system’s ability to serve the real economy,it is necessary to promote financial supply-side structural reform.The main connotations of financial supply-side structural reform is to prevent and resolve two risks,adjust four systems,strengthen three regulatory foundations,open three areas to the world,and handle four relationships.The key tasks of financial supply-side structural reform are to prevent risk,adjust structure,strengthen supervision,and promote openness.Further implementation of financial supply-side structural reform needs to increase supply of capital market system,supplement the shortcomings of financial infrastructure construction,innovate the financial product system and reconstruct the financial micro-foundation of policy transmission.