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焦点一:直接融资比重是否会提高?2003年以来,直接融资比重的下降已引起各方的高度关注,提高直接融资比重甚至被写入十六届三中全会的决定当中。按照一般规律,计划的转型过程,实质上就是以银行为主导的间接融资与以资本市场为主导的直接融资二者之间相对比例关系不断发生变化的过程,直接融资相对发展速度越高则说明经济市场化的进度越快。基于上述认识,可以预见,2004年管理层将致力提高直接融资比重。一方面通过大
Focus 1: Whether the proportion of direct financing will increase? Since 2003, the decline in the proportion of direct financing has drawn great attention from all parties. The proportion of raising direct financing has even been written into the Third Plenary Session of the 16th CPC Central Committee. In accordance with the general law, the planned transformation process is essentially a process of continuous changes in the relative proportions between indirect financing led by banks and direct financing led by capital markets. The higher the relative growth rate of direct financing is, The faster marketization of the economy. Based on the above understanding, it is foreseeable that in 2004 management will strive to increase the proportion of direct financing. On the one hand through the big