Phoenix nets, by phoenix nets financial jointly held the "2012 golden phoenix financial festival" in February 28, 2012 in Beijing pangu seven held a grand hotel. The festival with "2012 looking for financial ark" as the theme, reviews the 2011 China's financial industry experience gain and loss, this paper discusses the development direction of China's financial industry 2012 and opportunities. The central university of finance and economics professor guo TianYong accept phoenix nets exclusive interview with finance and economics, said the bank profits because bank lending in the society in financing a direct relationship between the dominant, to solve the banking high earnings problem, the future to boost interest rate marketization reform, to reduce the market must rate, but very important one is to develop capital market to solve the problem of channels. The following is a factual record interview: phoenix nets financial: I want to ask you how treat China banking profits. The question for profits you think what feasible measures? Guo TianYong: profits this word is it offensive or commendatory word? Now I don't too clear, profits are making money first more, we would rather it is a neuter gender phrase. Because now many industry if which ran very well, like apple this company may be in profits, but he doesn't care for everyone. Banking everyone about profits, and about profits in China with a kind of emotional way of thinking, I think we are based on our banking or in the state of the monolith,cheap oakley sunglasses and the shifting, and not by market fully competitive results, but may in the scope of business, there are certain protection, the market threshold is higher, and no interest rate marketization, spread relatively large space, and in this case he made a profit, so everyone could view this form of psychological not satisfied, formed a kind of anger, is about the situation. Banking make a profit growth of our undeniable see some profits, for example, just in our BBS on President lai xiaomin also speak, 2002 years, and 2003 years banking in bankruptcy state, that time we also did not turn into the market, and we are only a few state-owned Banks in make, why the time make of that bad, but now also? We admittance threshold is still high, or bank doing and big difference? We can only say that a bank's risk management, its internal control level in raising, bank reform achievements with this must be a reason. The second I think banking development is the most closely combined with the economic development of the industry, the higher economic growth to market the more business opportunities, commercial Banks inside the greater the profits, I think of China's banking high profit is set up to China's economic growth on the basis of the platform. I think we can from these aspects to view all year, but not simple to speak. Now I see there are some media some points of view, is the banking industry high earnings because there is high rates, actually I also speak to the American community bank we exchange, I remember very clearly, they carry me a look than we, and his the average cost of production is 0.86%, lending to 5.75%, than we have high interest. If they should see pure interest more profits. In fact not so, in fact, we have to look at this problem before, as I have said the second is the China banking, so get high earnings with China's economic development on the background, this development under the background of the form two questions, the first, as the economy overall growth faster, so that the overall demand for capital growth is very fast. Second, the bank in the whole society and the capital of rationing in a leading position, is our society the financing. We speak Chinese to develop capital market, we compared with the banking industry capital market in a very short version of the case, banking holds whole financing, the configuration of the Lord until the social capital area, so common form the banking profits. Phoenix nets financial: do you think of the profits banking problems, mainly with China's overall economic development is about? Guo TianYong: should say with the relevant, particularly in the banking industry in the leading position in social financing is related. For example I've told why the United States interests bad so tall nor profits? We see a number to understand, bank of America in social capital in the configuration of the probably accounts for only of the less than a third of the market areas, large enterprises to financing from banking to take off the didn't, through the capital market, through the other commercial paper and monetary market, capital market of tools for financing, such word is not associated with the banking industry. Of course the United States or low savings rate country, our country is high savings,aviator sunglasses high savings will form the banking loan financing volume is very large, and at the same time the enterprise depends on commercial Banks for capital allocation, formed the bank also in the whole of the capital market an absolutely leading position, this is very important. For example I give you literally tell a index. We all know that there is a economic indicators M2 / GDP. I remember that in 10 years, I study at school when dr. When the Chinese M2 divided by perhaps only 30%, 40% GDP, and the United States is about 60%, 70%, that time we will M2 / GDP gave a what word? Called economic capitalization of degree, we often say China's economy in less money, and hope it becomes higher some, after more than 10 years now, we see China's value has reached nearly 200%, while the United States still only 60%, 70%, is that they have not changed, we became very fast, why China's growth rate in M2 it so high? With bank loans in social dominant role in financing is directly related. So finally I want to say one solve high earnings banking problems, of course, we will promote market-oriented interest rate reform, to reduce the market must rate, but very important one is to develop capital market to solve the problem of channels. 
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