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流动性过剩是我国目前宏观经济平稳运行所面临的主要挑战,外汇贷款作为贷款的组成部分,其规模的增加必然会对流动性过剩产生正向的影响,而且与单纯的人民币贷款不同的是,外汇贷款还会通过结汇等方式进一步对流动性产生作用。由于我国贸易依存度很高进出口总量持续增长,以及人民币持续升值、本外币贷款利率倒挂等因素推动了金融机构外汇贷款的快速增长,增量创历史新高。外汇贷款增长迅猛在一定程度上会削弱信贷总量调控的作用。有鉴于此,必须高度重视外汇贷款对流动性的影响,进一步完善外汇信贷调控措施。
Excess liquidity is the main challenge China’s current macroeconomic stability runs. As a component part of loans, foreign exchange loans will inevitably have a positive impact on the excess liquidity. And unlike pure RMB loans, Foreign exchange loans will be further liquidated through settlement and other means. Due to the high degree of China’s high degree of trade dependence and the continuous growth of the total volume of imports and exports, as well as the continuous appreciation of the Renminbi, factors such as the upside-down of interest rates on loans in both domestic and foreign currencies promoted the rapid growth of foreign exchange loans by financial institutions, a record high. The rapid growth of foreign exchange loans to a certain extent will weaken the role of credit regulation. In view of this, we must attach great importance to the impact of foreign exchange loans on liquidity and further improve the foreign exchange credit control measures.