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中国的金融市场动荡和经济增速放缓引发了部分人士对中国经济发展的忧虑(见图1)。根据国际货币基金组织的预测,中国2015年GDP的增幅为6.8%,2016年为6.3%。值得一提的是,即便是在推出刺激政策的压力日渐增加之际,中国央行仍在继续按部就班地沿着改革路线推进。相较于经济增速放缓,中国央行在一项重要改革——利率市场化上所取得的重大进展,所受到的关注却相对较少。而该政策如果再辅以对银行激励机制的改革和对国有企业
The turmoil in China’s financial markets and the slowdown in economic growth have caused some people’s worries about China’s economic development (see Figure 1). According to the International Monetary Fund, China’s GDP growth in 2015 was 6.8%, up from 6.3% in 2016. It is worth mentioning that, even as the pressure to introduce stimulus increases day by day, the People’s Bank of China is still continuing to step by step along the line of reform. Compared with the economic slowdown, the central bank of China has received less attention on the significant progress made in one important reform, interest rate liberalization. If this policy is supplemented by the reform of the bank’s incentive mechanism and the state-owned enterprises,