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近年来,中国不断膨胀的房地产市场越来越引起学者和金融界的关注。中国巨额外汇储备对房地产市场的影响机理:预期效应;财富效应;溢出效应;银行信贷扩张效应。我国外汇储备快速增长通过外汇占款,引起货币供给量增加,进而引起我国房地产价格上涨。因此,要对强制性的结售汇制度进行改革,实行灵活的汇率形成制度。
In recent years, China’s ever-expanding real estate market has drawn increasing attention from scholars and the financial community. China’s huge foreign exchange reserves on the real estate market impact mechanism: expected effect; wealth effect; spillover effect; bank credit expansion effect. The rapid growth of China’s foreign exchange reserves through foreign exchange accounts, causing the money supply increased, which in turn led to China’s real estate prices. Therefore, it is necessary to reform the compulsory exchange settlement system and implement a flexible system of exchange rate formation.