关于解决流动性过剩问题的初步思考

Excess Liquidity and Policy lmplications

本文从流动性的内涵和外延入手,分析了我国流动性过剩的全球背景和我国流动性过剩的表现及结构性特点,提出了解决流动性过剩,要坚持"市场为主、各方联动、化多为少、化少为多、标本兼治、综合解决"的思路,指出当前重点是解决经常账户顺差过大,流动性过剩的来源问题,以及农村地区资金匮乏,导致资金配置结构性失衡的问题。

Upon clarifying the concept of liquidity, the paper analyzes the implications of the global excess liquidity for China and the structural features of China＇ s excess liquidity. It proposes to reduce the excess liquidity in China based on the market mechanism coupled with government induction. Currently the emphases should be placed on the reduction of current account surpluses and on the mitigation of the shortage of financial resources in the rural area of China.