中国银证合作模式及券商发展对策浅析

当前,金融领域呈现出了证券公司和银行业务相互合作、渗透之势。从传统的融资合作,到银证转账、银证通等业务的广泛开展,直至成立金融控股集团,集团内部混业初露端倪,银证合作的浪潮一浪高过一浪。二者的合作形式多样,但还限于一般层次上的合作,并受到了监管、政策限制等障碍。从长远发展看,券商应全面加强与银行的资金、业务合作范围;积极探索股权与组织合作的最佳模式;以业务创新为突破口,开发如现金管理账户、资产证券化、投资银行业务联动、客户资源共享等新模式,从而在大金融战略中实现新的发展。

Cooperation mode between banks and securities companies and developing strategies for securities companies

An obvious tendency in financial industry nowadays is the cooperation between securities companies and banks or the merge of the two. The cooperation and merge occur not only in traditional financing transaction, but also in funds transfer between the two and establishment of financial controlling groups, and even within the controlling groups. In spite of the various forms, cooperation and merge are limited to certain areas, being hindered by some securities policies. In order to gain further strategic development, securities companies should strengthen their efforts to expand business scopes with banks and explore the cooperation opportunities in terms of ownership and organization, and take some reforming actions, such as opening cash management account, asset-backed securitization, fund raising by issuing high profile securities with profit guaranteed by underlying projects, and sharing customers.