中国金融科技运行报告（2018） 摘要《中国金融科技运行报告（2018)》系国家金融与发展实验室金融科技研究中心与金融科技50人论坛（CFT50）联合推出的系列年度报告的第一本。报告旨在系统分析国内外金融科技创新与发展状况、演进动态与市场前景，充分把握国内外金融科技领域的制度、规则和政策变化，不断完善金融科技相关的理论基础与研究方法。报告主要包括五个部分。一是明确了讨论金融科技时，究竟有哪些“科技”需要关注。围绕大数据技术、人工智能技术、互联技术（移动互联、物联网）、分布式技术（云计算、区块链）、安全技术（生物识别、加密）等，“技术篇”从基础技术及其应用层面着手，围绕相关技术类别，进行了理论探讨与动态跟踪。二是虽然谈到金融科技时，人们更关注一些新兴业态与产品，但是技术创新早就成为金融变革的主线，只是在当前形势下才趋于“质变”。由此，“行业篇”仍然试图从银行业、证券业、保险业的角度，深入探讨传统金融行业拥抱科技的情况及前景。三是根据金融稳定理事会和巴塞尔委员会的分类方法，金融科技活动主要分为支付结算、存贷款与资本筹集、投资管理、市场设施（包括分布式账户）四类。依托该分类原则，“业务篇”侧重于分析主流金融体系之外的金融科技创新尝试。四是金融科技的健康发展，离不开对风险和监管的深入思考，风险识别、管理与监管本身就是金融科技研究的重要领域。“风险篇”试图在此领域弥补现有研究的不足。五是从全球视野，“比较篇”努力探索金融科技理论、政策与实践的比较研究范式。报告致力于为金融科技相关监管部门、自律组织及其他经济主管部门提供重要的决策参考，为金融科技企业和金融机构的业务探索提供有效支撑，为金融科技领域的研究者提供文献素材。 AbstractChina FinTech Annual Report (2018) is the first report co-published by the Research Center of Financial Technology in National Institution for Finance and Development and Fifty People Forum of Financial Technology. The report is aimed at improving the theoretical basis and research methods in FinTech with systematic analysis of the innovation and development, the evolution and market prospects, and the standard and policy changes in FinTech area at home and abroad.The report consists of five parts. The first part clarifies the definition and scope of Fin Tech that we should give more focus on. The section of technology starts from basic technology and application level, which including big data, artificial intelligence, interconnect technologies (mobile internet, internet of thing），distributed technology (cloud computing, blockchain),as well as security technologies(biometrics, encryption),and conducts theoretical discussions and dynamically tracks on related technology categories. While people paying more attention to some emerging Fin Tech business and products, the second part shows that technology innovation has long been the main driving force of financial reform even though its role only gets recognized recently. The section of industry tries to investigate on the application of Fin Tech in traditional finance industry from the perspective of banking industry, securities industry and insurance industry. Based on the classification of Financial Stability Board and Basel Committee, the third part divides the FinTech business into four segments: payment and settlement, deposit and loan and capital financing, investment management, market facilities (including distributed accounts). Relying on the classification methods stated above, this part focuses on the analysis of the financial innovations outside the mainstream of financial system. The fourth part proposes that healthy development of Fin Tech business depends on the dep understanding of risk and supervision, particularly the identification, management and supervision of risks. Those factors constitute to an important research area of FinTech. The section of risks tries to make up for the lack of those research area. From a global perspective, the fifth part explores a comparative research paradigm of theory, policy and practice in Fin Tech area.This report can be a reference book for regulators, self-regulatory organizations and other economic authorities in their decision-making related to Fin Tech. It also offers basic materials to financial institutions, Fin Tech enterprises and researchers in Fin Tech area.

2018-06-01

中国文化金融发展报告（2018） 摘要中国的文化金融研究是伴随着我国文化产业的发展和文化产业政策的出现而兴起的，具有极其鲜明的中国特色。本报告由国家金融与发展实验室与中国文化金融50人论坛联合发布，结合中国文化金融最新研究和实践成果，对中国2017年度文化金融发展进行了总结。本报告共分为总报告、工具篇、行业篇和专题篇四个部分。总报告是本报告的核心部分，集中了课题组对文化金融研究和实践的基本观点。本报告先就2017年中国文化金融发展状况进行了分析，并且进一步探讨了文化金融未来发展中需要突破的三大领域，以及与文化金融相关的三大战略性重大命题回顾，最后提出了关于文化金融研究的几点建议，包括：坚持文化金融研究的科学性与规范性，坚持基础研究与关注产业热点相结合，坚持中国实际与国际视野相结合。本报告的工具篇从债权、股权和风险管理三个角度总结分析了2017年文化金融发展状况。报告的行业篇对电影、艺术品、版权、传媒、文化创意和设计服务、文化旅游等领域的文化金融发展进行了分析，奠定了从产业视角研究文化金融的基础，有助于文化产业研究者继续深入开展研究。本报告的专题篇则深入探讨了与文化产业相关的互联网金融发展问题。关键词：文化金融债权股权风险管理互联网金融 AbstractResearch on China's culture finance has emerged with the development of China's cultural industry and the promotion of relevant policies, which is a research field with Chinese characteristics. This report, which is published jointly by National Institution for Finance & Development and China Culture Finance 50 Forum, summarizes of the development of China's culture finance in 2017.Based on the latest research and practice, this report is divided into four parts.Part I is the General Report, which is the core of the whole report, focusing on the basic ideas of the research group on the research and practice of cultural finance. This part summarizes the present status of China's culture finance, and explores the three major areas in the further development of culture finance. It also gives policy recommendations on the study on China's culture finance, including the normalization of research framework, the combination of academic research and industrial practices, and the integration of domestic topics and international perspective.Part II summarizes and analyzes the development of China's culture finance in 2017 from three aspects: debt instruments, equity instruments and risk management instruments. Part II focuses on four industries: film, art, publishing, media, cultural creativity, design services, and cultural tourism, laying a foundation for the studies on culture finance from the perspective of industries. Part IV is a special report focusing on the development of internet finance related to cultural industries.Keywords：Culture finance；Debt instruments; Equity instruments; Risk management instruments；Internet finance

2018-06-01

论文--曾刚

银行业一季度运行分析 2018年一季度，银行业整体运行平稳。在防风险、去杠杆继续深化和监管治乱象全面推进的背景下，银行规模增速较上年末继续放缓至7.4%，其中，股份制商业银行降到2.42%，为历年最低。资产质量基本平稳，在维持三个季度不变之后，小幅上升到1.75%，再次呈现出不良率和不良贷款余额“双升”局面，值得关注。行业利润增速略有上升，平均资产利润率和平均资本利润率均较上年末均有提高，显示强监管环境下，银行业盈利能力有所回升。

2018-05-31

评论--张跃文

明确责任强化股市融资资金运用监管股票市场融资是金融支持实体经济的重要方式。在经济转型和去杠杆的大背景下，债务性资金来源受限，上市公司更需要慎重制定股权融资计划，选准投资项目，用好用活融资资金，让股权募资发挥“四两拨千斤”的作用。

2018-05-25

演讲--李扬

必须承认多元，在多元基础上合作共赢

2018-05-25