The Study Of The Excess Liquidity Of China Currency Fluidity In The Near Future

Premier Wen Jiabao in 2007 government work report has pointed out: "the implementation of tight monetary policy, mainly because the current rebound in fixed asset investment greater the pressure, monetary credit is still Abundant, excess liquidity has yet to ease the conflict, the price increases Pressure Obviously, the need to strengthen financial regulation and control, control of money supply and credit growth too fast. "Since then, China recently on the issue of excess liquidity caused great concern to experts and scholars, for a time, all on the problem of excess liquidity point of view, explain divergent. Now it was generally recognized on the concept of excess liquidity is: liquidity surplus (Excess Liquidity) in the definition of "mobility", specifically the macro-economic mobility, that is, in the whole economic system in the currency of the number of running , The general from the number of Ml and M2 measure. The so-called excess liquidity is too much money running of these extra funds for the profit-driven nature of capital, investment will inevitably find a way out, this will lead to overheating investment, and implied the inflation risk.Excess liquidity of the reasons for the short term is a joint-stock reform of state-owned banks after the listing of loan funds can be a transient rise in the medium term is expected revaluation of the RMB exchange rate formation of the RMB to promote speculative bubble and a large influx of capital, from long-term perspective is the continuing high Household savings rate.Based on my recent problem of excess liquidity of the study, can identify at this stage of China's asset prices high, the trade surplus is too large, the consumer price index remains high, and so the real reason behind the phenomenon, which use administrative, economic and legal means To be addressed, faster and better development of the national economy to achieve the objective.China's recent performance problem of excess liquidity for the foreign trade surplus is too large, excessive money supply growth, fixed asset investment rebounded, rising housing prices in some cities, such as excessive, which in turn triggered the exports - increased risk of interruption cycle of investment, the domestic economy Structural imbalances and other issues on China's macro-economic stable operation and sustainable development impact can not be ignored. Based on my recent problem of excess liquidity of the research on China's banks to reduce risks, control asset prices too high, inhibiting the consumer price index (CPI) rose too fast, and so has an important significance.