id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
fbem-29591	Shan, Tong	Empirical Analysis of Changes in China's Currency Circulation Velocity in the New Century	2025	5	.pdf	application/pdf	3821	148	48	The interest payment for excess reserve deposits by the central bank of our country has been implemented since 2008, and the interest rate level is relatively low, so to some extent, the view that excessive reserve deposits are caused by high returns from depositing with the central bank can be ruled out. The specific formula is as follows: B M m 1 1 = B M m 2 2 = Among them, the base currency B refers to the currency issued by the central bank, which is specifically manifested as the currency issued by the central bank plus the reserve requirement for central bank guaranteed deposits; For m1 cash circulating outside the banking system+enterprise current deposits+government, organization, and military deposits+rural deposits+credit card deposits held by individuals; For m2 urban and rural residents' savings deposits+enterprise deposits with fixed-term nature+trust deposits+other deposits.	cache/fbem-29591.pdf	txt/fbem-29591.txt