社会融资规模与M2的比较分析和完善方法探析

The Comparative Analysis and Improvement Methods of Social Financing Scale and M2

与M2核算口径不断调整相比,社会融资规模从2010年提出来到现在核算口径基本上没有较大调整,这与近几年金融业快速发展、金融创新产品大量出现显得有些脱节,这些新出现的金融产品中有些向实体经济提供了资金、承担了融资功能,但却没有被包含在社会融资规模统计口径内,使得我国社会融资规模统计出现了数据缺失,统计口径滞后于金融业发展,所以相对于M2社会融资规模指标的核算口径已经滞后于金融发展的实际,不利于准确监测货币政策效果和进行相应调控。

Compared with the continuous adjustment of the M2 accounting caliber,the scale of social fi nancing has not been adjusted since it was proposed in 2010.This is somewhat out of touch with the rapid development of the fi nancial industry and the emergence of a large number of fi nancial innovation products in recent years.These new appearances Some of the fi nancial products provide funds to the real economy and undertake fi nancing functions,but they are not included in the statistical caliber of social fi nancing scale,which makes the statistics of social fi nancing scale in our country lack of data,and the statistical caliber lags behind the development of the fi nancial industry.The accounting caliber relative to the M2 social fi nancing scale index has lagged behind the reality of fi nancial development,which is not conducive to accurate monitoring of monetary policy effects and corresponding adjustments.