Research On The Change Of Currency Multiplier In China Under Electronic Payment

Since human beings enter into the primitive society, humans are beginning to use tools to produce things, thereby improving the production level greatly in that era.Productivity improvements make product quantity increased, on the basis of meet the product producer, gradually appeared the rest of the products. With the rise in the number of surplus products, the requirements of exchange of barter gradually raised. The division of social labor promoted the development of commodity economy. In the commercial society, people who need the goods get paid by product or equivalent, with content in content gradually revealed. To the disadvantages of products as payment has given birth to universal equivalent- the emergence of the currency. The particular form of payment from the initial physical currency transition to alternative currency, metal currency and paper currency is different form of payment, such as its impetus and the purpose of each stage is to improve the efficiency of exchange and convenience life for people at the starting point.Since the middle of the 20 th century, along with human society productivity levels rising, the advent of the computer and the continuous development of information technology, the emergence of electronic money brought people a new way of payment. Its tentacles in quietly go deep into the people’s lives, changing people’s consumption habit of payment; Brings fast and convenient technological achievements at the same time, also poses challenges to the money supply and financial regulation. The era of information economy, electronic payment is the inevitable outcome of the development of network technology maturity, and is the inevitable pursuit of human yearning for a better life. With the constant innovation and rapid development of electronic payment, all kinds of electronic payment tools emerge in endlessly. The central bank in the money supply and demand balance, in such aspects as the macro-control and regulation of traffic will be facing many new challenges. Electronic payment to the real economy, money supply system research has become the one of the problems of the current central Banks focus on.Especially in our country, the economic volume is huge, the high speed development of economy and the growth mode transition of the policy requirements of China’s monetary authorities put forward higher requirements.Based on the theory research and data to support the way of combining after reviewing the related literature, first of all, on this basis, the definition to the research of this paper, combined with the reality of our country national condition, analyzes the change the way of payment of money multiplier effect, and some problems and potential risks.Based on the problems put forward, this article provides relevant policies and implication advices.