本文从外在诱因和内在原因对次贷危机的形成机理进行剖析,其外在诱因为长时期宽松的货币政策,内在原因是监管失灵。在此基础上,对中国的货币政策和房贷市场进行分析,认为我国也存在次贷危机产生的土壤,在宽松货币政策下须构建科学的金融监管体系。 This paper analyzes the formation mechanism of subprime mortgage crisis from the external causes and the internal causes. The external incentive is the long-term loose monetary policy, which is due to the supervision failure. On this basis, it analyzes China’s monetary policy and mortgage market that China also has the soil of subprime mortgage crisis, and needs to build a scientific financial supervision system under the loose monetary policy.