D - disintermediation 中文 - EN166

disintermediation n.〔美國〕大量提款(指從儲蓄銀行中大量提款投入證券投資...

disinvestment
According to the macro aspects , the living and developing environment of global financial industry has changed a lot . these changes show in the developing sequence , financial laws and regulations , financial technologies and so on . all these contribute to the external reasons of financial disintermediation 從宏觀來看，全球金融業的生存和發展環境已經發生了很大的變化，這些變化體現在世界金融業發展的脈絡、政策和法律的演變和金融技術的發展，而這種宏觀環境的變化正是金融脫媒(銀行脫媒)的外因所在。
By reviewing and analyzing a large amount of journals , books and corporation cases , the conclusion is that the tourism industry in western countries is facing the challenge from disintermediation and reintermedation and how the stakeholders in the tourism industry adjust their roles in the value chain is important to their survival 經過研究大量西方相關的文獻和公司案例，總結出信息技術時代中旅游業正面臨著“去中介化”和“重中介化”帶來的挑戰，并提出旅游業中的各個實體應當如何調整自己在價值鏈上的角色以應對“去中介化”和“重中介化”所帶來的變化。
Although its infection is not serious right now , we should still give our focus on it . so the study of the mechanism of financial disintermediation , especially the mechanism in chinese situation , and find out the innovation strategies is important 即使現在“金融脫媒”給中國金融業帶來的影響還不大，但出于“未雨綢繆” “防患于未燃”的動機，具體研究金融脫媒機理，特別是中國金融體系下金融脫媒的機理，并找出相應創新對策，仍具有一定的現實意義。
Asset securitization is one of the most important financial innovations in the international finance field in recent several decades . it breaks the current law , accounting and tax regulations through its wonderful contract arrangement , inducing the disintermediation in the finance market 資產證券化是近幾十年來國際金融領域中最重要的一種金融創新，它以完善的創新設計安排突破了法律、會計、稅務的監管障礙，促進了金融市場向非中介化方向發展。
With the development of direct financing , commercial banks lost their dominating position in financing , and their interest incomes declined and cannot survive the tough competition only with their traditional deposit and loan business . this crisis is “ financial disintermediation “ 隨著直接融資的發展，銀行失去了其融資主導地位，利差收入減少，依靠傳統的業務難以維持生存，這種危機就是“金融脫媒” ，也被稱為“銀行脫媒” 。
The role of banks has been and continues to be shaped by a number of mega trends ? the globalization of financial markets , the rise of nonblank competitors , the ongoing evolution and implementation of new technologies , and deregulation and disintermediation 其主要服務對象是進出口貿易公司及跨國公司,金融產品實現了高度的標準化和市場化。它既是國際借貸資本運動的重要表現形式和必然結果,又是衡量一國經濟國際化程度的標志之一。
The innovation strategy against financial disintermediation is an integrated system composed of value chain and value triangle innovation , financial products and service innovation , demand strategy innovation and customer developing strategy innovation 綜合上述觀點，為了應對脫媒，商業銀行應該采取的創新對策是一個完整的體系，由價值鏈價值三角創新，金融產品、服務創新，需求戰略創新、客戶開發戰略創新四個方面所構成。
There is , understandably , some resistance against progress in this direction . it is natural , for example , that the intermediaries would resist disintermediation , even though it promises greater efficiency in the intermediation of funds to the benefit of the economy 國際金融中心這個發展方向很自然會面對若干阻力，例如中介人會抗拒非中介化，即使這會提高中轉資金的效率，使整體經濟受惠。
Offering a unique feature for “ one stop function to sellers and buyers , its main character : display exhibits all year around , disintermediation , and lowers all costs , it is a linkage between domestic manufacturers and international buyers 它是連接汽配生產廠家和國際汽配采購商的橋梁，幫助中國的汽配工廠進入國際市場，讓國際汽配采購商在同一地點采購到所需全部產品。
The main reason of financial disintermediation is the customers find better products and service in the direct financial market or other financial institutions . so commercial banks must innovation 因此，金融脫媒的根本原因是客戶在直接金融市場或其他金融服務機構找到了更好的、更適合于自己的金融產品和服務。
Hong kong traders need to anticipate , and be prepared to take advantage of , the global development of supply chain disintermediation or transformation 對于供應鏈上中介機構行將消失或轉型，香港的貿易商除須未雨綢繆外，還須作好充分準備，以把握隨之而來的商機。
Disintermediation is increasing and consumers increasingly understand that they have to pay for value - added services . service fees are here to stay 中介服務的功能正在削弱，同時，消費者明白他們必須為增值服務支付費用。這就是機票服務費存在的緣由。
Data shows , with the full development of chinese financial industry . the chinese commercial banks are facing the problem of financial disintermediation 數據顯示，隨著中國金融業的全面發展，中國的銀行業正在面臨“金融脫媒”這一問題。
Studies show that , commercial banks in the market economy courtiers will sooner or later come up with financial disintermediation 研究表明，國際上實行市場經濟的國家的銀行業或早或晚都會發生規律性的金融脫媒的困擾。
But there still some countries that have not go through infections brought by financial disintermediation 但也有一些國家的金融業至今未能脫離“金融脫媒”帶來的影響。
Study on the disintermediation and reintermediation in western tourism industry 西方旅游業中的去中介化和重中介化的問題討論