中国流动性问题研究:过剩抑或紧缩

Research Liquidity Problem of China:Excess or Tight

近两年来,流动性问题成为了干扰中国宏观经济平稳运行的突出问题。如何理解中国流动性问题的病症呢?在分析当前中国流动性呈现新的特征基础上,对流动性这种新的特征形成原因给以了详尽地阐释,并提出了解决流动性失衡问题的主要措施。我们的基本结论是中国流动性呈现宏观层面相对宽松与微观层面相对紧缩并存的失衡,破解流动性失衡,宜采用宏观和微观并举的措施。

Over the past two years, liquidity became outstanding problems, which interfered with the smooth operation of China＇s macro-economic. How to understand the disease that liquidity brings to china economic？ Firstly, this paper analyzed major characteristic of the liquidity in China, secondly, explained the reasons, which form characteristic of liquidity, lastly,.raised the main measure that manage current excess imbalance. The basic conclusion is that imbalance between relatively loose liquidity of macro-level and relatively tight liquidity of micro-level coexist, adopt both macro-measures and micro-measures is the best way that resolve the liquidity imbalance.