Yang Lihua: The Age Of Financial Innovation &Nbsp; How Many "Pools" Are There?

Finance

Innovation is due to a time when money is not available.

In the beginning of "the logic of finance", Chen Zhiwu emphasized the difference between wealth, capital and money, and came to the conclusion that the more things a country can sell, or the assets that have been capitalized or capitalized, and the more the future income flows, the more money it will have.

In other words, the amount of money corresponds to capitalized assets.

If there is more money, one of the means of regulating money supply can be more securitisation and capitalization of assets.

It has been counted that from 1979 to 2009, China's gross domestic product (GDP) increased by 93 times, while the money supply increased by 814 times in 30 years.

However, the price increase in China is not bad enough. The only reason for this explanation is that many assets that had not yet entered the market could now enter the market.

The city house is the most typical representative.

This is similar to the "pool theory" of Zhou Xiaochuan, the governor of the central bank.

Whatever Zhou Xiaochuan said about the pool of hot money, what is China's present?

When I discuss with the system designer of the 1573 network paction, for such a kind of financial product, it is a product of a long-term product, and the other side can not give a definite answer.

Nowadays, holding cash or putting money in banks is devaluing, which is a common understanding of the public.

Participation in the electronic trading of 1573 of the cellar is more than investment.