VII Instruments of Monetary Policy and Monetary Developments
Author: Mr. Marc G Quintyn, Mr. Bernard J Laurens, Mr. Hassanali Mehran, and Mr. Tom Nordman1
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Language:
English
Keywords:
OP; People's Bank of China; monetary policy; PBC branch; government; market; PBC credit; PBC lending; credit plan; PBC headquarters; Credit; Bank credit; Loans; Reserve requirements

Abstract

Prior to the reforms, monetary policy was implemented through the credit plan and the cash plan. As the credit plan was the financial counterpart of the physical or investment plan, it specified the amount of credit needed by enterprises to implement their output targets. Monetary policy was thus a passive instrument in the execution of the Government’s objectives. As described in the preceding section, the cash plan covered the various factors that influenced the amount of cash in the economy and, as such, complemented the credit plan.

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Cover Monetary and Exchange System Reforms in China
Monetary and Exchange System Reforms in China
An Experiment in Gradualism
Author: Mr. Marc G Quintyn, Mr. Bernard J Laurens, Mr. Hassanali Mehran, and Mr. Tom Nordman
ISBN:
9781557755629
ISSN:
0251-6365
Publication Date:
26 Sep 1996
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557755629.084
Pages:
100

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