中文摘要：

以金融结构为线索，比较分析中国影子银行的内生逻辑，尤其是体系内影子银行快速膨胀的动因与机理，并通过构建递进式影子银行分层框架，对各层次中的主要业务进行了梳理、分类及规模测算，最后，结合各口径规模特征及其差异给出相应监管导向与对策建议。

英文摘要：

With the financial structure as the clue, this paper firstly makes a comparative analysis of the endogenous logic of the Chinese shadow banking system, and explains in particular the reason and mechanism of rapid expansion of in-system shadow banking. Secondly, by building up a layered architecture of shadow banking with consideration of financial structure, this paper dwells on the major businesses of the various layers and estimates their scale under different dimensions. Finally, it provides suggestions for the corresponding supervision strategies according to the scale characteristics and disctinctions of dif- ferent layers.