摘要
经历40余年的粗放式增长后,中国经济发展进入由“速”转“质”新常态。为应对当前中国经济发展的结构性问题、金融结构本身的失衡,以及世界经济不稳定因素带来的系统性风险隐患,央行近年来出台多项结构性货币政策。分析主要结构性货币政策货币工具的执行情况后发现,现阶段其政策导向主要为扶持特定行业发展、推进普惠金融实行、推动国民经济平稳运行和优化信贷投放主体结构。在这一过程中,商业银行作为货币政策传导的主要执行者,所承担的流动性风险、不良贷款率风险、套利风险、虚报错报风险随之改变。据此,从政策制定方央行、主要执行方商业银行、监管方银保监会三个层面提出对策建议。
After more than 40 years of extensive growth,China's economic development has entered a new normal from"speed"to"quality".In order to cope with the current structural problems of China's economic development,the imbalance of the financial structure itself,and the hidden dangers of systemic risks brought about by the unstable factors of the world economy,the central bank has issued a number of structural monetary policies in recent years.After analyzing the implementation of the main structural monetary policy and monetary tools,it is found that the current policy orientation is mainly to support the development of specific industries,promote the implementation of inclusive finance,promote the stable operation of the national economy,and optimize the main structure of credit.In this process,as the main executors of monetary policy transmission,the liquidity risk,non-performing loan rate risk,arbitrage risk,and false reporting risk assumed by commercial banks change accordingly.Based on this,countermeasures and suggestions are put forward from three levels:The People's Bank of China as the policy maker,the commercial bank as the main executive,and the CBRC as the supervisor.
出处
《西南金融》
北大核心
2021年第2期13-24,共12页
Southwest Finance
基金
国家社会科学基金资助项目“商业生态系统与制造企业价值网平台战略研究”(项目编号:14BGL011)
肇庆学院科研基金项目“肇庆市与港澳地区建立特别合作区可行分析研究”(项目编号:201950)
肇庆教育发展研究院重点课题“肇庆市职业教育服务县域经济发展对策研究”(项目编号:ZQJYY2019026)
广东省教育科学“十三五”规划2020年度研究项目“粤港澳大湾区科技合作的现实基础、突破方向、合作路径及对策研究”(项目编号:2020GXJK151)。
关键词
结构性货币政策
货币政策工具
货币政策传导
宏观调控
金融风险
风险防范
金融监管
金融稳定
structural monetary policy
monetary policy tools
monetary policy transmission
macroeconomic control
financial risks
risk prevention
financial supervision
financial stability
