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储蓄不能顺利转化为投资 储蓄供给转化为投资需求的渠道有两个,一个是“收入——金融体系存款——企业贷款——借款人投资”,称之为间接融资渠道;一个是“收入——内部入股、资本市场和直接投资办企业——企业投资”,称之为直接融资渠道。中国目前总需求不足和总供给过剩最重要的原因,就是储蓄转化为投资的融资体制在进行着重大的改革,间接融资渠道正在相对缩小,而直接融资渠道又不能相应拓展,使储蓄转化为投资的流程发生了梗阻,导致总需求不足。
Savings can not be smoothly transformed into investment savings into investment demand channels there are two, one is “income - the financial system deposits - corporate loans - borrower investment”, called indirect financing channels; one is “income - - Internal shares, capital markets and direct investment to do business - business investment, ”called direct financing channels. At present, the most important reason for China’s insufficient aggregate demand and excess supply is that the financing system for converting savings into investment is undergoing major reforms. The indirect financing channels are relatively narrowing while the direct financing channels can not be expanded accordingly, turning saving into investment The obstruction of the process, resulting in the total lack of demand.