Abstract
In 2014, because bill financing in RMB loans significantly increased and the funding of non-bank financial institutions decreased significantly, the growth rate of China’s money supply slowed down. Social financing maintained a moderate scale, and the financing structure achieved its optimization, while more currency was lent out, and the loan structure improved. Interest rates in China had a downward trend; at the same time, the RMB exchange rate had a two-way fluctuation. However, due to a spreading trend of financial risks, a weaker demand for credit, outstanding financing problems such as difficult financing and expensive financing, great changes in the issuing channel of base currency and the new trends in capital flows, the financial situation in China needed more attention. In 2015, China should strengthen the perspective of its monetary policy and enhance the pre-tune and fine-tuning of policies, and should use a variety of monetary policies to achieve macroeconomic stability.
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Xiandong, Y., Huan, Y. (2017). Operation of Monetary Finance Under the New Normal. In: Li, Y., Li, P., Li, X., Zhang, P. (eds) Economic Analysis and Forecast of China (2015). Research Series on the Chinese Dream and China’s Development Path. Springer, Singapore. https://doi.org/10.1007/978-981-10-5654-3_12
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DOI: https://doi.org/10.1007/978-981-10-5654-3_12
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