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Speeding up financial reform, break the borrowing quagmire

(A) the policy finance and market finance hands perfect credit system
SME policy financial system is a positive development. The experiences of developed countries, policy banking institutions established special loans for SMEs. National Business Bank, subsidized by the policy banks ' SME lending rates to commercial banks. Comprehensive financial services platform for promoting SME pilot experience, encouraging exploration of local government in the area of SME financing. Perfecting the credit guarantee system of small and medium enterprises, establishing the national, provincial and County grading guarantee system, driven by the policy guarantee commercial guarantees and civil assistance guarantees, decentralized commercial bank loan risks.
and the other is to develop market-oriented small and medium banks. Developed include city commercial banks, rural credit cooperatives and village banks, micro-credit companies, small and medium banks, development professional in the area, specializing in community, professional specialty products in the grass roots the banking system. Support has been in small micro-enterprise and SME loans made significant progress in the area of financial institutions, such as commercial banks, Taizhou and Harbin Bank. Banks summed up the promotion of SMEs and micro-credit technology.
(b) absorb both guidance and supervision of private capital into the formal financial system
one is to encourage the participation of private capital of banking institutions restructure and merger into the national system of indirect financing. Established as Minsheng Bank dominated by private capital, zheshang Bank initiated the establishment of private commercial banks. Guiding private capital to participate in the commercial banks ' equity financing, participating in City Credit Union and the reform of rural credit cooperatives or equity financing. Encouraging private capital or participate in the establishment of new rural financial institutions--rural banks, cooperatives and mutual societies.
II is built mainly of private capital financing system directly supports the development of the real economy. Encouraging private capital into sci-tech enterprise incubators and private-equity funds and venture capital funds. Development of the OTC market and equity market, introducing quality equity traded funds overseas.
third, strictly private capital supervision, standardize civil capital development. Specification for underground bidding clubs, ticket. Strongly combating illegal and underground activities, cracking down on private lending loan-sharking, black socialization. Establishment of pilot private lending services in some of the hot spots for civil registration of borrowing, settlement, appraisal, notary and legal services such as underground financial sunshine. Strengthening the monitoring of private capital, grasp the scale of private capital, paid to risk, interest rates, and so on.
(c) to speed up the process of financial market reform, optimize the structure of financial markets
speed up the marketization process of interest rate. "Twelve-Five" planning proposals for a "steady" to promote market-oriented interest rate reform, we thought we had to speed up the time. Promoting the construction of perfecting the marketization of infrastructure, including the Shanghai interbank offered rate (Shibor) operational mechanism, sound bond market yield curve. As the banks ' pricing of risk levels and increasing market competition ability, and gradually open up lending and deposit rates. Development of market-oriented interest rate schedule and roadmap to market to stabilize expectations. Established based on Central Bank interest rates, money market interest rates as intermediary, financial institutions lending and deposit interest rate determined by market supply and demand of the market system and its forming mechanism of interest rate.
optimize the structure of financial markets, promote competition in the financial markets. International social governance of financial institutions "too big to fail" problem of experience to assess the market impact of large State-owned commercial banks, reduce the size of big commercial banks, vigorously developing small and medium financial institutions and private finance, promote fair competition, maintain financial market activity. Accelerate the development of direct financing market. To develop the bond markets, particularly in the corporate bond market, reducing the threshold for corporate bond sales. Steady interbank and discount-oriented development of money markets. Actively promoting the OTC system, reform and improve the securities distribution system, speed up the formation of a multi-level capital market system.
(iv) improve the financial top design, ensure economic health
for sustainable development to strengthen top-level design of financial system and norms guide the development of financial markets, for the real economy, to achieve strategic targets in high income countries.
first, to improve policy design perspective. National economic strategy, clear strategic objectives financial development, standing on the future financial perspective, the current financial practices in the development of policies designed to accelerate reforms.
II design overall is to focus on policy. Top design includes at least the following five major areas of finance, external financial liberalization of the exchange rate reform as the core issue, the construction of multi-level capital market issues, including loan guarantees and deposit insurance, credit market restructuring issues, based on the interest rate liberalization reform of financial market problems, financial legislation and financial regulatory system and security issues.
three is to implement policies designed to be scientific. From theoretical, practical and legal aspects justify a policy design and scientific theory to guide practice effects. Local resolve financial issues, theoretical models and practical effects combinations.

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