近期,国内资本市场衍生金融产品供应急剧收缩,证券公司融资融券规模短时间内大幅缩减超过万亿元,机构投资者富裕流动性面临再配置难题,大量资金疯狂涌入公司债券,导致公司债券发行利率屡创新低,甚至出现企业信用债券定价国债化的奇特现象,反映出金融资产“配置荒”的现实窘境。为防范和化解系统性和区域性金融风险,需要大力引导流动性“活水”入实体经济。只有将金融市场流动性“活水”浇灌战略性新兴产业,才能真正消除金融市场流动性充裕和金融资产配置难 Recently, the supply of derivative financial products in domestic capital markets has shrunk sharply. The size of margin financing and securities lending business of securities companies has been greatly reduced by over one trillion yuan within a short period of time. The wealthy liquidity of institutional investors is facing the problem of reallocation. A large amount of capital influx into corporate bonds has caused corporate bonds The issuance of interest rates hit record lows and even the peculiar phenomenon of pricing corporate bond debentures reflects the current dilemma of financial assets “configuration shortage ”. In order to prevent and resolve systemic and regional financial risks, it is necessary to vigorously guide the liquidity “living water” into the real economy. Only by injecting financial market liquidity and “living water” into strategic emerging industries can we truly eliminate the liquidity in financial markets and the difficulty in allocating financial assets