改革开放以来,我国对国有经济和民营经济实行差异化的信贷管理,这种“金融二元主义”引致的国有金融资金供给与民营企业信贷需求的制度错位,为民间金融发展提供了内在动力。随着社会经济体量的增大,民间金融风险日益凸显,其风险产生的根源在于民间金融的“关系化”与非市场化。对此,政府可通过建立以契约为基础的金融市场,构建中国特色的草根金融体系和建立透明动态的利率管理机制等金融市场化手段,进行有效化解。 Since the reform and opening up, China has implemented differentiated credit management over the state-owned economy and the private economy. This institutional imbalance between the supply of state-owned financial funds and the credit demand of private-owned enterprises caused by this “financial dualism” has provided internal development for the development of private finance power. With the increase of the social economy, the non-governmental financial risks have become more and more prominent. The root of the risk lies in the “relationship” and the non-marketization of the private finance. In this regard, the government can effectively resolve the problem by establishing a contract-based financial market, building a grassroots financial system with Chinese characteristics and establishing a transparent and dynamic interest rate management mechanism.