2. Formation (1979-20 17): The formation stage begins at 1979. Although 1977 China People's Bank was separated from the Ministry of Finance, monetary policy is a macro-control policy under the condition of market economy. Therefore, it opened the curtain of reform and opening up and promoted the formation of a real monetary policy system.
3. Perfection (starting from 20 18): After the 19th National Congress of the Communist Party of China, China combined macro-prudential management with monetary policy and proposed to establish a two-pillar structure, which was not found in the traditional monetary policy system, nor in other countries. Therefore, the monetary policy system has entered a perfect stage of innovation and development.
Extended data
The stabilizing function of monetary policy;
1, and steadily establish a monetary policy system. Taking the structural reform of the financial supply side as the starting point, we will keep the bottom line that systemic financial risks will not occur and promote the construction of structural control mechanisms.
2. Keep the monetary policy transmission mechanism smooth and effective. With the development of capital market and the market-oriented reform of interest rate and exchange rate, the transmission mechanism of monetary policy has gradually expanded to interest rate, assets and exchange rate.
3. Maintain steady economic and social development. Monetary policy is very important to the stability and development of economic and social life order. The implementation of China's monetary policy has never forgotten the initial intention of serving economic and social development. Despite the difficulties, it has made progress.
People's Network-Historical Experience of 70 Years' Steady Monetary Policy Practice in New China