简述次贷危机后我国和美国采取措施的异同

简述次贷危机后我国和美国采取措施的异同

Same Points：

1、 Economic stimulus package bill: both sides with a lot of money into the

market to achieve the purpose of economic stimulus spending, China for at least four trillion yuan economic stimulus plan. The United States signed scale as high as $2.2 trillion economic stimulus bill. And both sides scheme are including tax cuts, stable domestic capital market.

2、 Using traditional monetary policy tools, and corresponding policy means of

financial markets, carries on the comprehensive intervention, time to stabilize funds, stock markets, including has created a new fund and reduce fund benchmark interest rates and so on measures.

3、 The full implementation of the transformation of value-added tax, adjusting

the tax structure and level.

Differentia：

The United States：

1、The fed's unconventional monetary policy, including: to slash interest

rates to zero era, into the direct assistance, financial institutions to

commercial Banks' reserve pay interest, start "national debt and

MBS purchase plan etc.

2、Innovation Liquidity management means, startup Credit and Liquidity

plan.

3、The fed monetary policy tool innovation main points four kind: the first

kind is aimed at the depository institutions tool innovation: including

term auction tools (TAF), regular discount measures (TDWP), bad

assets relief plan (TAPP); The second is the tool innovation for

traders, including first-degree traders PDCF), credit tool (TSLF

securities lending tools (regular); The third type is the tool innovation

in currency markets, including the asset-backed commercial paper

money market mutual fund tools (AMLF), money market fund;

NMIFF convenience () The fourth category is provided to the

borrower and investors in the liquidity, including investors financing

MMIF), a convenient tool (TSLF regularly securities lending tools (),

commercial paper financing tools (CPFF), fixed assets mortgage

securities lending tools (TALF), etc.

4、The U.S. government also on the worst affected by the crisis in

housing, cars and employment market, issued a package of more

targeted economic stimulus bill.

China：

1、Flexible tight monetary policy. In the monetary policy still maintaining

the crunch situation, but according to actual situation of economic

operation of the flexible adjustment, prevent excessive deflation, a cautious raising rates. The current credit control essentially have increased the cost of capital for companies, further improve the interest rate on economic blow can be large. It has been broken, at present in China in less than 100 days already reductions within five times, also a few times reduced the deposit reserve rate, we now for

a period of time will adopt the loose monetary policy, this is the latest

policy under the state council.

2、Expand government investment. Based on past experience, export

decline on domestic investment growth will cause certain drag, the need to expand government investment way to hedge this part of the influence. Investment by the key areas is snowstorms, earthquake the influence infrastructure and agricultural infrastructure.

3、Increased government spending and subsidies. Continue to expand

the social security and medicare coverage, reflect education equity;

Increasing agricultural straight fill encourages agricultural production, increase farmers' income, improve the rural consumption level.

4、To take the opportunity to industrial structure adjustment. Adjust the

export industry structure. We should seize the opportunity is favorable for, and gradually reduce the processing trade and low value-added export proportion, and gradually raise general trade and high value-added export proportion. Simultaneously must continue to persist to promote energy conservation and emission reduction.