Titlebook: Reforms in China‘s Monetary Policy; A Frontbencher‘s Per Sun Guofeng Book 2015 Palgrave Macmillan, a division of Nature America Inc. 2015 C

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河潭

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nd current features of China‘s monetary policy, drawing upon the author‘s years of experience working within the People‘s Bank of China and insider‘s view of the decision-making process.978-1-137-50448-7

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Introduction,a frontbencher, I have been pondering over China’s monetary policy reform and drafted a number of papers. . is a collection of my works that includes 20 papers as a representation of my points of view.

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Monetary Theory, traditional theory, the financial theorists have created many new concepts and ideas to fill in the gap in the conventional theory. However, the conventional theory was built on misconceptions, and the outcome will usually be contrary to what is intended in practice. For example, when commercial ba

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Exchange Rate Policy,able and nontradable sectors because of its great impact upon the allocation of resources and economic growth. An equilibrium exchange rate is therefore of great importance. Experience shows that in open economies, much foreign exchange(FX) supply and demand relates to speculation rather than the re