Structural monetary policy is a specific type of monetary policy implemented by central banks for specific objects，The main purpose is to guide the flow of funds to the policy meaning department and promote structural adjustment。In the theory and practice abroad，This type of monetary policy is often referred to as targeted Monetary Policy (TMP)，Chinese can be literally translated as a targeted adjustment monetary policy (also known as directional regulatory monetary policy in the literature)。Use structural monetary policy to perform macro -control and structural adjustment，It is a new direction for the development of monetary economics in recent years。

The ultra -low interest rate environment that occurred after the outbreak of the financial crisis caused the traditional monetary policy to fail，Fiscal policy is limited by fiscal deficit cannot achieve real loose，Quantitative looseness, although it can play a role in stimulating the economy in the short term，But in the long -term unable to promote the substantial growth of the economy，A series of problems such as resource mismatch and economic structure imbalance。In order to alleviate the negative impact of the total loose policy，Implement more accurate monetary policy regulation，Central Bank of the Western developed countries has launched a variety of structural monetary policy。Representatives include twist operations implemented by the US Federal Reserve Bank、Complete monetary trading policy and targeted long -term financing implemented by the Central Bank of the European Central Bank，and the financing exchange agreement policy implemented by the Central Bank of England。A series of monetary policies implemented by Bet365 app download my country in recent years also have structural regulation features，Including targeted reduction、Convenience in the medium -term borrowing、Mortgage supplementary loan、Public market short -term liquidity regulation tool、Frequent lending convenience、Timed reduction、Convenience of time borrowing, etc.。Implementation of structural monetary policy，On the one hand, it can avoid overcurrent financial system liquidity caused by the comprehensive loose monetary policy of large water irrigation，On the other hand, it can make up for the lack of liquidity in important areas and weak links in a directional regulation.，Guide the optimization and structural adjustment of the credit structure，Therefore, to create a new development pattern and promote high -quality development to create a good and stable monetary financial environment。

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The normalization of the outbreak and prevention and control of the new crown pneumonia has a certain impact on my country's macroeconomic，Especially affects the development of family consumption and small and medium -sized enterprises。The total loose monetary policy implemented in the early stage can promote consumption to a certain extent、Investment and output growth，But the liquidity released more flows to large enterprises with strong anti -risk capabilities。The liquidity problem faced by small and medium -sized enterprises has not been completely solved。Structural monetary policy through additional liquidity use，Guide funds to enter the small, medium and micro enterprises and consumer industries that are seriously affected by the epidemic，Can better help small and medium -sized enterprises to achieve recovery。During the epidemic，my country has arranged a total of 1.8 trillion yuan special re -loan、Cashback quota，bet365 Play online games and use the inclusive small and micro enterprise loan delay support tools and credit loan support plans，The goal of restoring the economy and stabilizing enterprise employment is better achieved。Special loan、Cashback，Credit support tools and other structural monetary policy，Can accurately reduce the financing loan interest rate of small and medium -sized enterprises，Expand the loan volume of small and medium -sized enterprises，Meet the demand for its financing and capital turnover，Promoting the increase in investment and output，It has effectively solved the urgency of small and medium -sized enterprises。The rapid recovery of small and medium -sized enterprises effectively relieves the dilemma of the consumer industry，Guaranteed employment rate，increased family income and consumption。

　　New Development 2: Help achieve the "double carbon" target

Global climate change and extreme disasters caused by excessive carbon emissions，Long -term will affect the development of macroeconomic and lead to a decline in productivity。China proposes to achieve a carbon peak in 2030、A "double carbon" target achieved carbon neutralized "double carbon" target，fully reflect the responsible big country as the responsibility，It is also promoting high -quality economic development、Economy and Social Green Transformation、Major strategic decisions of the adjustment and upgrading of industrial structure energy structure。To help achieve the "double carbon" target，my country created two structural monetary policy tools in 2021 to create carbon reduction support tools and support coal clean and efficient use of special re -loan，Adopting a direct mechanism for lending and borrowing to target the field of carbon reduction in clean energy and coal cleaning。Creating and using structural monetary policy tools can better bet365 Play online games realize carbon peaks and carbon neutralization; direct accurate structural monetary policy，Can better serve the development of green industry、Low -carbon technology innovation and the transformation and upgrading of the high -carbon industry。The central bank can consider the toolbox of further enriching the structural monetary policy，Use a preferential interest rate、Green re -loan re -discount、Add measures such as adding qualified collateral，Guide commercial banks to increase the proportion of green finance，Direct support of clean energy、Energy -saving and environmental protection and carbon emission reduction technology innovation enterprises，Structural monetary policy tools such as special reinsurance to promote the transformation and upgrading of high -carbon enterprises，Optimize energy structure。

　　New Development 3: Promote "Housing and Language"

High house prices will increase residential debt，Reduce family consumption，Squeezing the real economy credit quota，Affects the healthy development of the real economy，Then leads to a rise in macro leverage，The trend of real estate foaming is obvious，Advanced financial risk accumulation。Adhering to "Housing and Language" is conducive to alleviating the negative impact of high housing prices on my country's economic system，Promoting the transformation and upgrading of my country's economic structure，Prevention and resolution of major risks。To promote economic growth and prevent excessive fluctuations in the real estate market，In recent years, my country has used a series of structural monetary policy such as targeted reduction in the weak links and key areas of economic development。Through targeted re -loan、Structural monetary policy and other structural monetary policy guides commercial banks to increase credit supply for the real economy，Not only supports the development of the real bet365 live casino games economy，It also prevented the flow of funds from flowing to the real estate market。In the process of controlling excessive rise in house prices，my country's trials to apply because of the city，Use different mortgage interest rates for different cities，Better promoted the healthy development of the real estate market across the country。Direct adjustment of the loan interest rate of real estate development enterprises，Can regulate the behavior of the behavior of real estate development enterprises and commercial banks，Guide to form a good real estate supply and demand relationship and market。At the same time，my country also tried to reduce the guarantee through direction、Loan interest rates of rental housing，Guide social capital to invest in affordable and leased housing，By purchasing the first home discount and directional increase of residents' second suite loan interest rates to ensure the reasonable living needs of the residents，Effectively suppress investment and speculative needs。A variety of structural monetary policies commonly developed，It is conducive to supporting and realizing the regulatory goals that "do not live in the house"。

　　Fourth Development of New Development: Build a new development pattern

May 2020，The Party Central Committee proposed to deepen the supply -side structural reform，Give full play to my country's oversized market advantages and domestic demand potential，Construction strategy of building a new development pattern of mutual promotion of domestic and international dual cycles。Accelerate the construction of a new development pattern of dual -cycle，To twist the main line of structural reform of the supply side，Pay attention to demand side management，Open the blocking point，Make up shortcomings，penetrating production、allocation、circulation、Each link of consumption，Demand traction supply、higher bet365 live casino games levels of dynamic balance of supply creation demand。The development of high -end consumer goods production enterprises can be promoted through structural monetary policy，Increase resident income，Guide the consumer structure upgrade of residents，Promote demand -side management; release liquidity to specific industries and specific enterprises through structural monetary policy，Promoting the structural reform of the supply side; the blocking point of dredging funds，Let the funds be transmitted from the central bank to the real economy enterprise through the financial intermediary agency。It is worth noting that，Taking a large domestic cycle as the main body does not mean that it is not necessary。From the perspective of my country's economic development，Driving domestic economic growth through foreign demand is an important way to promote economic development，But we need high -level external circulation and high levels of opening to the outside world today.。You can promote the upgrading of the domestic industrial structure through structural monetary policy，Guide domestic enterprises to advance to the high -end of the global industrial chain，Promoting technological innovation of Chinese enterprises，Improve the added value of the enterprise。

Under the dual background of the gradually increasing world economic uncertainty and the development of the Chinese economy towards high -quality development，Exploring structural monetary policy in the process of conduction mechanism in the process of precision regulation of macroeconomics，Promote the innovation and development of monetary policy theory，References for the design and decision -making of monetary policy for precision regulation of macroeconomics，Promoting the transformation of monetary policy regulation in new normal，and take this opportunity to promote Bet365 lotto review economic structure adjustment and transformation and upgrade。

　　(this article is the project on the National Natural Science Foundation of China "The complex overflow effect of transnational conduction of monetary policy in developed countries: DSGE Model Models and VAR Data Inspection under open economic conditions" (72073042) phase

(Author Unit: School of Finance and Statistics, Hunan University)