Financial reform to elaborate, the industry is no revival

Not long ago the fourth national held financial work conference, prime minister wen jiabao explicitly requested, financial will increase to the real economy service efforts, let the entity economy more solid foundation. Indeed, as the currency in recent years the hair brought serious asset bubble, many industry KongXinHua gradually, the entity economy is facing serious risks. In the last ten years, China's financial industry made great development, asset scale, capital adequacy ratio, bad ZiChanLv and many other index, have shown that the financial system is in the history of the best day period. However, a thriving in the financial industry, the entity economy, contains the very serious crisis. The entity of the economy, and in addition to state-owned enterprises and local government of public property characteristics of the field has, has been get Banks and the favour of capital market, most of the private enterprises can not get financial institutions service. Even if can get a financing support,discount sunglasses the private enterprise need financing cost of pay, also much higher than the public sector. Can say, China's economy the most dynamic, innovation of the just is the most sufficient kinetic energy now increasingly flagging the private economy. Over the years, "kingdom into people retreat" bring rapid expansion of state-owned capital, the private capital survival was very difficult, industrial rate of return is extremely low, seek survival squeezed for most of what was the norm, industry KongXinHua trend is getting worse. And solving a lot of employment of the small and medium-sized manufacturing, small micro service industry is almost collective encounter financing, development has struggled. And those in the startup of the enterprise, because of the conditions of the rigid limitation, whether bank financing system directly, or the stock market bond market, capital market, is unable to provide the corresponding financing services. So, how can we make the financial industry in the service entity economy? We must first clear, how the financial industry to service in the state-owned capital outside of the real economy. The key lies in a lot of resources, the market is held by the state-owned capital hands, a little bit higher profits industry, corporation to market access. Although in 2005 and 2010, the state council have issued to speed up the private capital for the development of article 36 of the old and new, but so far not enough enforcement, lead to the state-owned capital still in hurricane dash, folk capital way out more and more narrow. Thus, at risk of expected considerations, bank, capital market of course will only more funds to the state capital. So, the only hard implementation "the new 36", let private capital to earn enough money, the financial sector will naturally willing to service in the private economy. No private capital development space policy broken innings, no matter how to promote financial reform, improve the financial company management, also can't let the financial industry is willing to service the economic entity of the most key parts. Considering the indirect financing market bank system, state-owned feature obviously, it is difficult to complete market in the short term the reform of the operation, then? In the short term to speed up the development of direct financing market, may be easing the current dilemma for the reality of choice. However, layer upon layer the system barrier and administrative imprints, let the stock and bond occupies the subject direct financing market development are still slow. In order to make China's economic security through the current risk accumulated period, must certainly pulling away from the constraints of the healthy development of the financial market many institutional obstacles. Also, with China's real estate bubbles of constantly do big, China's economic speculative atmosphere is very strong. To the real estate bubble for benchmarking, consumable field, art investment and many other fields have towards turning into a bubble-and asset markets become the capital pouring into Windows. Asset price bubbles,MLB Cap bring the entity economy is only the capital run away, this is also causes the entity of the economic downturn today key reasons. The whole, to the entity economy with renewed vigor, the urgent task must speed up the financial reform, at the same time give private capital and state-owned capital nearly equal economic position, and also have to eliminate the whole economic speculative atmosphere too strong. Only "two head in hand", the entity capital to be really developed, China's economic entity might really firm. And once a solid economic foundation, strong, swept across the country asset bubble, slowly "sit real possibility also greatly increased, to a great extent, can eliminate the risk of a hard landing of the bubble. The old saying that the cloud, "the skin not kept MaoJiangYanFu". With the day of the financial industry, the entity economy can not only of state capital is popular, but the real market, and the most innovative private capital, only to hot money into form existence, such "fur relationship," will only constant threats long-term health development of China's economy. For this, in 2012, "for their" economic situation is to promote the reform of systematic critical moment, a single economic field of tinkering will not play a substantial role. Can't wait!

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