稳健中性取向下的货币金融运行

Abstract:In the first three quarters，GDP grew by 6.9%，fixed asset investment（excluding peasant households）increased by 7.5%，CPI increased by 1.5%，service industry index grew by 8.3%，the national fiscal revenue grew 9.7%，and the national fiscal expenditure increased 11.4% over the same period of previous year respectively. M2 growth slowed month by month，RMB deposits grew steadily，and loan growth remained stable. Bond issuance size is declined，transaction size picked up，and RMB depreciates slightly against the U.S. dollar. At the same time，there exists potential risks in production cut for environment，squatter settlement rebuilding，local government debts and bank loans. It is suggested to keep a balance between steady growth，risk prevention and deficit control，maintain a reasonable and appropriate currency liquidity，and adjust the liquidity structure.

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