Choice of Open Market Operation Instruments of China

The report closely encircles the subject of the selection principle of operating tools in China open markets, the selecting foundation and criteria and how to select the operating tools in transitional open markets. The report begins with the research of operating theory and transmitting mechanism and studies the development of the operation in China open markets. Taken the operating tools in the open markets as the research object, the report studies completely its selecting basis and conditions. The report analyzes the operating approaches and it impact on interest rates and exchange rate and transmitting mechanism of the operation in the open markets on the basis of analyzing the operating principle in the open markets. The report emphasizes on the differences of the decision – making process in the open markets between China and the U.S. The report also analyzes the transparency problem of Chinese monetary policy and the operation in China open markets. The report opens put the main problems the operation faced in China open markets through the research of the operating actuality in China open markets. By studying the theories and practices, the report compares different operation tools and analyzes the kinds and selecting background and cause of information of operating tools in major economic countries such as the U.S., UK, Japan and EU. The report suggests the criteria of selecting the operation tool in China open markets. The report studies systemically the present main tools – commercial paper issued by Central Bank: Its property purpose, functionality, limitation, future. At last, the report puts forward the assumptions and approaches of the improvement of the operating tools in China open markets. The report emphasizes on theory research and demonstrates with practices based on the theory. The report combines not only qualitative analysis with quantitative analysis, but also international comparison with domestic analysis. The report especially concentrates on the characteristic research of the operating tool in China open markets.

Book Details

Author：Zhang Hongdi

Publisher: Shanghai Joint Publishing Company

Publication date： 2005-12-1

Pages： 166

Words： 240000