【摘要】 受新一轮科技革命的推动，数字经济蓬勃发展，数字化成为当今时代的重要特征，也对货币形式和支付系统产生深刻影响。特别是央行推出法定数字货币后，形成多元化的货币体系，引发货币创造、货币职能、货币资产和层次划分等产生重大变化，对传统的货币供应量统计带来巨大冲击。货币供应量是经济分析的重要指标之一，我国货币供应量统计经过多次修订，不断与国际标准一致。为顺应数字时代的要求，我国货币政策还需做出进一步调整。为应对新形势下货币统计的难点与挑战，本文提出货币供应量统计口径调整和优化的具体思路，即从货币总量与货币结构两个层面进行改进。一是扩展货币总量的口径，纳入除商业银行外的非银行金融机构及非银行支付机构发行的信用货币；二是调整货币结构的划分，区分交易货币和储藏货币，以流动性及信用等级作为货币层次划分的依据，将货币供应量重新划分为M0、M1、M2、M3这4个层次，以更好反映金融体系对经济的资金支持和社会流动性水平。更多还原

【Abstract】 Driven by a new round of technological revolution, the digital economy has flourished, and digitization has become an important feature of the new era, which has had a profound impact on the forms of money and payment systems. Especially after the central bank introduced the central bank digital currency in China, a diversified monetary system has been formed, triggering significant changes in currency creation, currency functions, currency assets and categories, which has posed great challenges to traditional money supply statistics. Money supply is one of the important indicators in economic analysis. China’s money supply statistics have been revised several times to keep in line with international standards. In response to the requirements of the digital era, further adjustments are needed in China’s monetary policy. To cope with the difficulties and challenges of monetary statistics under the new situation, this paper proposes specific ideas for adjusting and optimizing money supply statistics. These include improvements in both the monetary aggregate and the monetary structure. Firstly, the scope of the monetary aggregate should be expanded to include credit money issued by non-bank financial institutions and non-bank payment institutions, in addition to commercial banks. Secondly, the division of the monetary structure should be adjusted, such as distinguishing between trading currency and storage currency, taking the liquidity and credit rating of money as the division basis for the monetary structure, and redividing the money supply into four levels of M0, M1, M2, and M3, so as to better reflect the financial system’s support for the economy and the level of social liquidity.更多还原