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未来的去杠杆进程将直接取决于“是否误伤实体经济”或“实体经济是否向好”两个因素。今年3月以来,我国新一轮金融去杠杆拉开序幕,监管收紧成为新的高频词。从一季度末开始,以金融去杠杆为主题,一行三会多项监管措施重拳出击,用以规范和清理金融市场过度加杠杆的行为,鼓励资金进入实体经济。此轮金融去杠杆与2016年10月开始的对于“房地产泡沫”的打压相互衔接,并以守住银行、证券、保险体系不发生系统性金融风险为底线。进入二季度,金融监管政策骤然收
The future deleveraging process will directly depend on two factors: whether it will hurt the real economy or whether the real economy is good or not. Since March this year, a new round of financial de-leveraging kicked off in our country and regulatory tightening became the new high-frequency phrase. Starting from the end of the first quarter, with the theme of financial de-leveraging, a number of regulatory measures by the three banks will be given a heavy blow to regulate and clean up excessive leverage in the financial markets and encourage funds to enter the real economy. This round of financial deleveraging is in line with the crackdown on the “real estate bubble” that began in October 2016 and is based on keeping the banking, securities and insurance systems free from systemic financial risks. Into the second quarter, the financial regulatory policies suddenly closed