经济增长下行压力和产能相对过剩的矛盾有所加剧；

There is a growing conflict between downward pressure on economic growth and excess production capacity.

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这就使得信用成为中国商品相对过剩经济时期最稀缺的资源。

Then credit becomes the scarcest resource during the China commodities comparatively overmuch economy period.

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本文分析认为，当前我国流动性处于相对过剩的水平，其成因是国内外现实经济矛盾在货币层面的反映。

The paper analyzes that China's current liquidity at the level of relative surplus, its cause is the currency reflection of realistic economic contradictions at home and abroad.

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