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改革开放以来我国国民收入分配格局发生了重大变化，使过去财政直接注资主导的国民经济运行，转变为国家银行集中借贷办企业的资金借贷型经济运行。这种资金借贷型经济带来一系列后果：企业效率与利息率倒挂使国民收入通过银行系统超分配，国有企业低效率在银行积累不良资产型通货膨胀压力和金融风险。根本性的出路在于，向社会横向开放企业的资产结构，形成资本需求，疏通直接融资渠道，形成资本的供给，从而使国民经济投资、生产和经营的资本和风险社会化。
Since the reform and opening up, the pattern of national income distribution in our country has undergone major changes that have transformed the operation of the national economy, which was dominated by the direct fiscal injection of capital into a capital-lending-type economy run by the state-owned commercial banks. This kind of financial lending-type economy has brought a series of consequences: the upside-down of enterprise efficiency and interest rate causes the national income to be super-distributed through the banking system and the inefficiency of state-owned enterprises accumulates non-performing asset-based inflationary pressures and financial risks in banks. The fundamental outlet lies in opening up the assets structure of the enterprises to the society horizontally, forming the capital demand, unblocking the direct financing channels and forming the supply of capital so as to socialize the capital and risk of the investment, production and operation of the national economy.