论金融宏观调控--再为中国金融立论

On Financial Macro-regulation: An Article Revisiting China’s Finance

一国的货币供给量取决于进入市场中流通的商品和能够反映商品使用价值和价值的商品价格量的总和。必须遵循货币的供给是有限的、能够计量的,而不是任意的、不能计量的。货币供给量是有限的,靠货币供给量着力于金融宏观调控的力量是有限的。“央行行为的哲理”是金融宏观调控的艺术和必修课。经济社会的重大变化表现为:人口老龄化——社会保障巨额增加——国内储蓄与投资难以均衡;贫富差距拉大,要迈过“中等收入陷阱”,造就中等收入阶层;中美之争以及关联度成为全球经济问题的核心。金融宏观调控关注的基点是:要关注国民实际收入的变化,要关注区域经济的建设和发展,要把社会就业始终作为金融宏观调控的首要目标,要密切关注财政信贷收支的综合平衡,要关注经济周期和金融周期。建立现代中国央行制度,就要提高对金融市场变迁的敏感度和适应能力,增强央行独立性。

The amount of one country’s money supply depends on the sum of the circulated commodities on the market and the commodities’quantity of value that reflects their use value and value.It should be adhered to that the supply of money is limited and quantifiable,rather than arbitrary and unquantifiable.The power of financial macro-regulation based on the supply of money is limited in that the amount of money supplies itself is limited.The philosophy of central bank’s policies is an art and a compulsory course of financial macro-regulation.The reflections of major changes of China’s economy and society are:Population aging leads to enormous increase of social security payment,which makes it hard for domestic savings and investment to reach an equilibrium;the widening gap between the rich and poor makes it necessary to cultivate middle-income class in order to overcome the“middle income trap”;the clash between China and America and the degree of connection between them has become the core of the global economic issues.Financial macro-regulation should basically focus on the real income changes of citizens,the construction and development of regional economy,and the primary target of social employment,the comprehensive equilibrium between finance and receipts and payments of credit funds,and the economic and financial cycle.The aim of establishing China’s modern central bank system is to increase the sensitivity and adaptability to the changes of financial market and strengthen the independence of the central bank.