本文着重探讨了“流动性过剩”与有效需求不足的关系,同时阐述了当前我国经济运行的特点。通过对搜集到的我国电信行业的数据进行分析,说明加大基础设施建设力度是我国进入工业化后期以来扩大内需最有效的手段。同时,我国在多个垄断性行业几乎同时推进的改革,改革的力度和起步时间等并不落后于主要的市场经济国家,并取得了一定的阶段性进展。 This article focuses on the relationship between “excess liquidity ” and the lack of effective demand, at the same time expounds the characteristics of the current economic operation in China. Through analyzing the collected data of China’s telecom industry, it shows that increasing the intensity of infrastructure construction is the most effective way to expand domestic demand since China entered the later stage of industrialization. In the meantime, the reforms that China has promoted in almost the same period in a number of monopolistic industries, the intensity and the starting time of reforms do not lag behind the major market economy countries and have made some initial progress.