降准算什么 央行还有23万亿的“弹药”

即便央妈大手笔释放上万亿流动性，但手里仍有23万亿元的庞大储蓄资金。那么接下来就不禁要问：这其中有多少将被允许进入经济，以阻止经济增速放缓并刺激信贷增长？
降准降息是央行用来管理流动性的“利器”。正如华尔街见闻提及，中国央行决定自4月20日起下调存准率1个百分点，这是自2008年11月以来力度最大的一次。当海外资金流入、消费者物价上涨，央行就可以调升存准率；反之就降准。
彭博新闻社文章援引历史数据称，中国存准率当前仍处高位，还有很多降准空间：

2008年的金融危机引发出口需求锐减，刺激着央行采取连续降准措施，金融机构存准率最低被调整至15.5%。不过，中国大规模刺激政策很快出现逆转，央行在2011年将存准率调升至21.5%的峰值。即使将4月19日最近一次的降准计算在内，中国金融机构的存准率在全球范围内都算是高水平。一些国家的存准率甚至低至2%。加拿大和澳大利亚干脆废弃了这一工具。
目前，随着资本外流、通胀温和、经济增速放缓，这一次，中国央行会将存准率调降至何种水平呢？
瑞穗证券驻香港亚洲首席经济学家沈建光认为：“它（中国存准率）可以很低，如果他们（中国央行）愿意，它甚至可以低至零。”他将10%视为未来数年存准率的最低水平，因为央行将希望国内银行拥有相当大的缓冲区来处理攀升的坏账。
沈建光的预测和麦格理首席中国经济学家胡伟俊(Larry Hu)的观点有些类似。胡伟俊曾在2月份预计，中国央行将在未来五年至少降准20次。
中国央行货币政策委员会委员陈雨露也在昨日表示：“从目前的高达18.5%的存款准备金率，以及CPI和经济走势来看，还有进一步降准的空间和可能。”
最近的一些经济数据也的确指向中国资本外流。据外汇局最新数据，银行结售汇连续8个月出现逆差，其中1月份银行结售汇逆差82亿美元，2月份扩大至172亿美元，3月份则大幅增至660亿美元，创2010年有记录以来最大逆差规模。央行稍早前发布的3月外汇占款减少1564.76亿元人民币，降幅创下2007年以来之最。
摩根大通表示，中国在一季度出现连续第四季度的资本外流，总计规模达到3000亿美元。上次出现这种情况还是在2012年，当时流出资金规模达1650亿美元。更远的一次是在2008年下半年，但规模仅为600亿美元左右。


连中国外管局也承认中国出现资本外流。国家外汇管理局国际收支司司长管涛在国新办举行的一季度外汇收支情况发布会上称：“当前中国存在资本流出现象；当前资本流出是意料之中的有序调整，不能简单等同于隐秘的、违法违规的资本外逃；未来我国跨境资本流动仍将呈现振荡格局。”但他强调，外汇局暂不会采取“控流出”的新措施。

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If you鈥檝e ever watched the photos on your digital camera come alive on your TV or played the music files on your computer    over your home theater system, you鈥檝e brushed against the magic of DLNA. This widely integrated but little understood technology allows you to stream media files from a hard drive or memory card to other devices on your home network without your needing to know a whole lot about codecs, file formats, or even how your network operates.
DLNA stands for Digital Living Network Alliance, the trade group founded by Sony in 2003 to define the interoperability guidelines that make this communication possible. Prior to DLNA, setting up a home-entertainment network was an arduous process of gathering IP addresses and configuring each component to talk to the others with no guarantee of success. DLNA simplified the process by establishing a single protocol that ensured DLNA-certified multimedia devices from different manufacturers would work together.
How it works
DLNA separates multimedia devices into  subdivided into three  broad categories: Home Network Devices (PCs, TVs, AV receivers, game consoles), Mobile Handheld Devices (smartphones, tablets, digital cameras), and Home Infrastructure Devices (routers and hubs).
A device鈥檚 class is determined by its functional capabilities鈥攚hether it stores, controls, or plays media鈥攔ather than the type of product it is. So it鈥檚 possible (even common) for a device to fall into more than one class. Some DLNA-certified TVs, for example, can be classified as both a 鈥攎eaning it can locate and play media from other devices鈥攁nd a 鈥攂ecause media can be pushed to it by an external controlling device.
Yamaha
A modern AV receiver that supports DLNA can stream movies, music, and digital photos from a storage device attached to your home network to your smart TV.
All DLNA-certified devices use Universal Plug and Play (UPnP) to discover and talk to each other on the network. When you connect one to your router, it should automatically appear on any other DLNA-certified component鈥檚 menu without needing you to perform any setup.
In a typical scenario, you might have a PC running DLNA-certified software that transforms it  into a media server. Your DLNA-certified player鈥攁 TV or game console, for example鈥攚ould be able to browse the content on the PC and stream it. Alternatively, a controller, such as a tablet or smartphone, could discover the content on the PC and tell the TV to play it back.
Getting started
With more than  on the market鈥攊ncluding TVs, Blu-ray players, storage devices, media boxes, smartphones, tablets, game consoles and software鈥攃hances are good you already have more than one compliant device or application in your home. Depending on the manufacturer, the product may use a branded version of DLNA such as SmartShare (LG), SimplyShare (Philips), or AllShare (Samsung), but rest assured it鈥檚 all the same technology and it will all interoperate.
If you own a recent model PC, NAS, smartphone, or tablet, it probably came with bundled DLNA-certified software that will allow any media on it to be recognized by your networked components. If you have an older model, however, you can still turn it into a media server by adding a program  like聽, , , or Windows Media Player. Even if a component manufacturer steers you to its branded media-server program鈥攆or example, Samsung鈥檚 , you may still be able to use one of these third-party options, but finding which application works best with your component鈥檚 brand takes some experimentation.
Philips
Philips' SimplyShare is simply a private-label version of DLNA that lets you stream music and other media between smartphones, media players, media servers, other devices to smart TV on your network.聽
Another area where DLNA gets messy is . The DLNA specification only allows for a few common audio and video formats like Windows Media Audio, MP3, MP4. FLAC, AVI and MKV files, and many others, aren鈥檛 supported. To make it more complicated, different implementations of DLNA support different codecs. And even supported formats may not work if the container, bitrate, or other details don鈥檛 comply with the DLNA spec. Some DLNA server software will try to make up for this shortfall  by transcoding files from a non-compliant format to a compliant one on the fly, but results vary.
Has DLNA outlived its usefulness?
DLNA was developed more than a decade ago, when tapping into your vein of locally stored media was the only way to stream a movie or photo slideshow from your computer to your TV. Our current bounty of online media-streaming and -sharing sites like Spotify, Netflix, and Flickr have since satisfied DLNA鈥檚 original intent with a much simpler process. Sony, DLNA鈥檚 founder, doesn鈥檛 even support the standard on its PlayStation 4 (though it looks like it might ).
Still, if you have gigs of media just sitting on a hard drive, it鈥檚 worth giving DLNA a try. Just be aware of its  limitations and be prepared to endure some trial and error before you find the combination of components and server software that works best on your network.
Even if DLNA eventually falls by the wayside, the alliance itself continues to do good work. It鈥檚 latest initiative鈥攄ubbed VidiPath鈥攊s designed to enable consumers to  without needing to additional set-top boxes for each TV. We鈥檒l have a story explaining how VidiPath will work in the near future.