当前,金融政策已成为我国调控房地产市场的重要手段。从2003年“121文件”开始,国家出台了一些重要的文件,金融政策参与房地产调控的力度不断加大。然而,金融政策作为调控国民经济的主要宏观变量,与房地产市场微观运行机制间在政策目标、传导机制和作用效应等方面存在着冲突之处。 At present, the financial policy has become an important means of regulating the real estate market in our country. Since the “121 Document” in 2003, some important documents have been promulgated by the state and the financial policy has been steadily being stepped up in the real estate regulation and control. However, as the main macroeconomic variables in the regulation of the national economy, financial policy conflicts with the micro-operation mechanism of the real estate market in terms of policy objectives, transmission mechanisms and effects.