How to reform the financial system

The first is to combine the national conditions. China's financial reform has reached a deep stage, and interest rate liberalization will become an inevitable battle. Throughout the process of interest rate marketization in countries around the world, it can be generally divided into "exogenous promotion" and "endogenous evolution". There are successful cases in the United States, Japan and other countries, as well as failure cases in some countries. The interest rate marketization reform in China needs not only the top-down promotion of the government, but also the interaction of "endogenous" conditions such as system, custom and convention. "Crossing the river by feeling the stones" is an effective method. If China's financial system reform is to succeed, it is necessary to combine China's actual national conditions, build supporting macro-environment, market mechanism, supervision system and micro-subjects, and explore a road of interest rate marketization reform with China characteristics.

The second is bold innovation. At present, a major financial problem in China lies in the mismatch of financial resources, which leads to the imbalance of market structure. To break the dilemma, we must innovate boldly and form a financial system and structure that is suitable for the socialist market economy. The 18th National Congress of the Communist Party of China pointed out that it is necessary to deepen the reform of the financial system and accelerate the development of multi-level capital markets. The development of multi-level capital market needs many reforms and innovations: for example, changing the monopoly pattern of big banks and providing policy support for private financial institutions and small and micro financial institutions; Break through the institutional barriers of small and medium-sized enterprises' equity trading, actively explore the development model of regional equity market, break the boundaries of regional division, and broaden the financing channels for small and medium-sized enterprises and technological innovation enterprises; Use the big data platform to integrate the superior resources of internet finance and traditional banks, realize the diversification of financial ecology, and bring new vitality to the development of the real economy; Innovative financial supervision mode, and so on.

The third is people-oriented.

On the one hand, we should promote inclusive finance's ideas. To develop inclusive finance, the first thing to be solved is the financing difficulties of small and micro enterprises, and increasing the endogenous supply of financial services for small and micro enterprises is the key. It is necessary to give full play to the role of endogenous market forces and encourage private capital to initiate the establishment of local small and medium-sized financial institutions that are equally connected with small and micro enterprises; Improve the differentiated supervision and assessment policies for financial services of small and micro enterprises, and give appropriate risk compensation in fiscal and taxation policies; Further improve and perfect various financial mechanisms such as financing guarantee services and expand the coverage of financial services supply.

On the other hand, we should give full play to the role of the government. Under the premise of taking the commercial financial system as the leading factor, only by building a policy-oriented financial system can financial reform really benefit people's livelihood and serve the people. To build a policy-based financial system, we can start from many aspects: give full play to the important role of existing policy-based financial institutions in urbanization, and at the same time study the establishment of urban infrastructure and policy-based financial institutions, so that policy funds and market funds can form a joint force, strengthen policy-based financial support in the field of serious illness medical insurance, and effectively solve the outstanding problems of people getting poor and returning to poverty due to illness; We will increase medium-and long-term credit support for agricultural development, rural infrastructure construction, public service facilities construction and new urbanization development in remote and poor areas, and strive to do a good job in comprehensive financial services for agricultural transfer population.