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Reforms in China’s Monetary Policy
on the intermediate
targets of the monetary policy, that is, taking loans as the
intermediate targets of the monetary policy and deposit as the foundation for
realization of loans. When judging whether banks’ activities are conducive
to the economic growth and to the achievement
of the expected targets of
the monetary policy, we cannot make our judgment based on loans and the
deposit-loan gap, but need to find out whether banks’ deposits have increased
or not.
CHAPTER 2
Monetary
Policy
China Monetary Policy: Current Situation,
Evolution, and Outlook
1
This chapter will discuss the current situation,
evolution, and outlook of
China’s monetary policy in two parts. First, we begin with an explanation of
the basics of China’s monetary policy, including
the evolution and develop-
ment of China’s Monetary Policy framework, and the targets, instruments,
and transmission mechanisms of China’s monetary policy. Then we will
discuss the major features of China’s monetary
policy in the twenty-first
century.
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