国务院关于金融体制改革的决定 DECISION OF THE STATE COUNCIL ON REFORM OF THE FINANCIAL SYSTEM

bank clearing shall be effected.

　　c. The People's Bank of China shall set the ceiling and floor interest rates of the deposit and loan， further rectify the interest rates relations between deposit， loan and securities； all the different kinds of int

erest rate should reflect the difference in time limit， cost and risks， so as to keep a reasonable rate differential； progressively set up the market interest rate system based on the central bank's interest rates.

　　d. The People's Bank should strictly supervise and administer the financing action between the financial institutions， investigate and deal with those violating relevant regulations in accordance with laws.

　　（2） Perfect the securities markets.

　　a. Perfect the national debt market， in order to create favorable conditions for the People's Bank to handle the business of open market operations. The Ministry of Finance shall stop borrowing money from the PBC. The fiscal position shortage shall be settled by short-term national debt， while the deficit budget shall be made up by issuing national debt. According to the approved amount， the policy banks can issue state-guaranteed financial bond， which is used to adjust economic structure. It is essential for postal savings， surplus of social security funds， and funds of all financial institutions to keep a definite proportion of national debt， which the national commercial banks can use as mortgages for financing from the People's Bank.

　　b. Adjust issuing objects of financial bonds， stop issuing financial bonds to individuals. The People's Bank handles mortgage loan for only the national commercial banks that have financial bonds.

　　c. Perfect stock markets. Standardize stock issuing and listing on the basis of enterprise joint stock system transformation； Perfect management of securities exchange and exchange systems； Create favorable conditions to unify the legal person stock markets and individual stock markets， A-stock markets and B-stock markets.

　　5. Reform Foreign Exchange Control System， Coordinate the Policy of Foreign Exchange and Monetary Policy

　　Foreign exchange control is an important part of the central bank's monetary policy. The long term target of foreign exchange control system reform is realization of RMB's convertibility. Based on the prevailing circumstances in China and with reference to successful international experiences， the short-term reform measures shall be as follows：

　　（1） Realize unified foreign exchange rate in 1994， establish unified controlled and floating RMB exchange rate system based on market exchange rate；

　　（2） Abolish foreign exchange retaining system， implement foreign exchange settlement and selling system.

　　（3） Realize RMB's conditional convertibility in the current account.

　　（4） Strictly administer， examine and approve foreign exchange drawing and receipt in the capital account；

　　（5） Set up a unified national foreign exchange market， in which the designated foreign exchange banks are the transaction bodies. According to the requirement of regulating macro-economy， the People's Bank of China should timely take in and send out foreign exchange， to stabilize the exchange rate.

　　（6） Stop issuing and gradually call back foreign exchange certificates. Strictly forbid foreign currency pricing， settling and circulating.

　　（7） The People's Bank of China centrally controls State foreign exchange reserves. According to the foreign exchange reserve principles of security， liquidity and profitability， perfect operating mechanism of foreign exchange reserve.

　　The measures of foreign exchange control system reform shall be carried out according to the relevant provisions of the State Council.

　　6. Properly Guide Non-Bank Financial Institutions in Stable and Healthy Development

　　The amount of capital fund， standards of managerial staff quality and business scopes of all kinds of non-bank financial institutions shall be clearly defined， examined and approved strictly with enhanced administration. Properly develop different kinds of non-bank financial institutions such as specialized insurance company，

trust and investment company， securities company， financial leasing company， finance corporation of enterprise group， etc.， implement the policy of classified management for the industries of insurance， securities， financial trust and banking.

　　（1） The principle of separating social insurance from that of commerce and separating the functions of government from those of the enterprise shall be upheld in insurance system reform. The policy insurance and the commercial insurance should keep separate accounts respectively， transform the insurance companies into genuine insurance enterprises， and realize equal and orderly competition. Progressively separate personal insurance business from that of non-personal. Develop a number of nation-wide， regional and specialized insurance companies； establish re-insurance companies； and step by step develop rural insurance undertakings in many forms. Properly enlarge the scopes and the autonomous right of the insurance enterprises' utilizing fund， properly raise the general insurance reserve rate， so as to strengthen economic power of the enterprises. Set up the insurance guild in order to strengthen self-discipline and control of the trade.

　　（2） The fund of the trust and investment company mainly comes from long-term and wholesale enterprise trust or entrusted deposit. The business scope of the company is handling trust and entrusted loans， securities buying and selling， financial leasing， proxy and consultancy， etc.

　　（3） The finance companies of enterprise groups collect short-term fund for the enterprises mainly by issuing commercial bills.

　　（4） The securities companies are not authorized to handle the business of non-security investment. Clearly distinguish the securities companies going into the first class markets from those into the second class markets. Strictly separate the business of the securities company's own from that of proxy.

　　7. Strengthen Financial Infrastructure Construction， Establish Modern Financial Management System

　　（1） Speed up accounting and settlement system reform. According to the international accounting standards， the financial institutions should reform accounting basis， accounting items and accounting system， and reform financial statistic and supervising monitoring system. Build modern system of payment to realize settlement billization. Expand the scopes of payment measures such as credit card， commercial bill of exchange， cheque and cashier's check， etc.， strengthen the flexibility， liquidity and safety of the bill use， in order to reduce the use of cash.

　　（2） Accelerate financial system computerization. Speed up the construction of the PBC's satellite communication net work. Extend utilization and development of computers， realize the automation of inter-bank settlement， loan and deposit， information statistics， handling business and office work. Financial system computerization should be centrally planned， standardized and carried out respectively.

　　（3） Strengthen construction of financial personnel. Renew knowledge structure of the staff， and speed up the training of modern financial personnel， implement the cadre and personnel system and labour and wage system suiting the characteristics of the financial system， and set up the restraining and motivating mechanism

┨网页设计特效库┠ http://www。z┗co⊙l。com/网页特效/