根据高盛的总结，中国央行在今年上半年实施的措施有三大特点：
一、一些政策工具是非常短期的流动性准备金。比如，2月初1.7万亿元的OMO操作是期限为7天和14天的逆回购。
二、其中一些措施数据指的是总贷款额，而非净贷款额。例如，尽管MLF/TMLF的操作总规模高达1.3万亿元，但今年上半年，这部分余额实际上是有所下降的。
http://sou.58.com/in?key=%E7%A7%BB%E5%8A%A8%E7%94%B5%E8%AF%9D%E8%AF%9D%E8%B4%B9%E5%85%85%E5%80%BC+%E5%BE%AE%E4%BF%A1a13927522825%E6%AC%A2%E8%BF%8E%E7%A0%B8%E5%8D%95%E8%BF%87%E6%9D%A5
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三、许多宽松措施本质上是有针对性的。这类流动性专门用于被疫情严重打击的部门、融资难度较大的小企业和个体经营者，以及疫情对经济影响最严重的时期。
一、一些政策工具是非常短期的流动性准备金。比如，2月初1.7万亿元的OMO操作是期限为7天和14天的逆回购。
二、其中一些措施数据指的是总贷款额，而非净贷款额。例如，尽管MLF/TMLF的操作总规模高达1.3万亿元，但今年上半年，这部分余额实际上是有所下降的。
http://sou.58.com/in?key=%E7%A7%BB%E5%8A%A8%E7%94%B5%E8%AF%9D%E8%AF%9D%E8%B4%B9%E5%85%85%E5%80%BC+%E5%BE%AE%E4%BF%A1a13927522825%E6%AC%A2%E8%BF%8E%E7%A0%B8%E5%8D%95%E8%BF%87%E6%9D%A5
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三、许多宽松措施本质上是有针对性的。这类流动性专门用于被疫情严重打击的部门、融资难度较大的小企业和个体经营者，以及疫情对经济影响最严重的时期。
