This question seems to be problematic, working capital: working capital is the symmetry of fixed capital. It is the funds used to purchase raw materials and other labor objects to pay wages and other production expenses. Enterprises use working capital to purchase various raw materials, materials, fuels, semi-finished products and other labor objects. When they participate in one production period, they completely change their physical form, and are compensated all at once from the income from product sales. Then the labor objects are repurchased to ensure smooth reproduction.

s4330898 should refer to excess liquidity. The "liquidity" referred to in excess liquidity refers specifically to the liquidity of the entire macroeconomic, that is, the injection of money in the entire economic system. The amount is generally measured by the number of M1 and M2. So excess liquidity means that the money supply exceeds "the amount actually needed in the economy" and there is a danger of inflation.

As for China’s excess liquidity, on the one hand, it is issuing too much, which is related to the hedging of the continuous inflow of foreign exchange: my country’s foreign exchange settlement and sales system causes foreign trade surplus to be directly converted into base currency, resulting in foreign exchange Increase in account holdings. On the one hand, it is used too little, that is, it does not enter the enterprise's production function.

In addition, there is also the impact of the world environment: the world is currently in a state of excess liquidity (the international financial system is based on the US dollar, and due to various political and economic reasons at home and abroad in the United States currently and in the past period, , leading to an over-issuance of U.S. dollars).

Finally, there is the influx of foreign speculative funds. When the US dollar interest rates are cut, the RMB interest rates are raised, and there are inflation expectations, there will inevitably be speculative exposure.

Basically, these are the four. I don’t know what you are using them for. If you are writing articles, you can actually search a lot of them online.

Baidu Encyclopedia: /view/724559.htm