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当前我国经济中存在着导致货币收缩的客观因素1.证券市场对货币的分流。与银行贷款不同的是,货币流入股票市场后,并不能完全进入生产流通领域,而是有相当一部分会变为短期交易资金,即虚拟资本。至于国家发行的债券,除有一部分用来进行基础设施投资外,还有一些要用于偿还过去的债务或其他特定的用途,因而也不能够完全进入生产流通领域。由于存在这一因素,货币供应量从增长率看虽然不低,但实际生产流通领
At present, there are objective factors in China’s economy that lead to the contraction of the currency. 1. The diversion of money from the securities market. The difference is that with the bank loans, the currency flows into the stock market, and can not fully enter the field of production and circulation, but a considerable part will become short-term trading funds, namely, virtual capital. As for the bonds issued by the state, some of them are used for the repayment of past debts or other special purposes except for part of the investment in infrastructure, and thus can not be fully entered into the field of production and circulation. Owing to this factor, the money supply, although not low in terms of its growth rate,