Chinas Monetary Policies from Reform and OpenAbstractMonetary policy is referred to as either being an expansionary policy, or a contractionary policy, where an expansionary policy increases the total supply of money in the economy rapidly, and a deflation policy decreases the total money supply or increases it only slowly. Expansionary policy is traditionally used to combat unemployment in a recession by lowering interest rates, while deflation policy involves raising interest rates to combat inflation. Monetary policy is contrasted with fiscal policy, which refers to government borrowing, spending and taxation. The monetary policy is the national macroscopic economy regulation important method, has the vital role to the national economy development. Since the reform and open policy, our country economy has appeared 4 inflation time, the reason is various, the Central Bank basis economic situation implementation different monetary policy measure then, the continual readjustment monetary policy rhythm and the direction, its implementation effect displayed the big difference. But may see, the central bank is studying the international advanced experience and the method unceasingly, explores diligently suits the Chinese economy development the monetary policy. Chinese government will not change stimulus policies because it could derail its hard-won economic recovery, though record bank lending in the first half of the year has raised fears over credit risks and asset bubbles.Key words: monetary policies; economic development; internal and external circumstance内容摘要货币政策是指扩张性的或收缩性的政策，扩张型的政策在经济中迅速地增加货币的供给，紧缩性的政策是指减少货币的总供给量或只是减缓货币说两的增长。扩张型的政策通常用降低利率的手段促进就业，而紧缩性的政策通常用提高利率的手段缓解通货膨胀。货币政策总是和财政政策结合使用，财政政策是指政府的接待，花费和税收。货币政策是国家调控宏观经济的重要手段，在国际经济的发展中起着至关重要的作用。改革开放以来，我国出现了4次通货膨胀原因是多种多样的。中央银行作为调控货币政策的最基本的工具，继续重新调整货币政策的模式和方向，展现了很大的工具作用。但是中央银行正在学习国际上先进的经验并且不断地改革，探索适合中国经济发展模式的货币政策。中国政府不会改变刺激型的经济政策，因为那会使我国艰苦奋斗得来的经济发展出轨，即使银行的记录上显示我国上半年的借贷已经超过信用风险线了而且出现了泡沫经济。关键词：货币政策；经济发展；国内外形势ContentsAbstract (英文).iAbstract (中文)ii1.Introduction.12.Monetary policy implementation and effect analysis since reform and open22.1(1) 1984-1986.22.2(2) 1987-1992.32.3(3) 1992-1996.42.4(4) 1997-2002 182.5(5) 2003-2009.53.3Textual function.63.The monetary policies our government are adopting at present.84.Conclusion.11Works Cited. 121. Introduction2007 is a Chinese economy rapid development year, 17 big convenes successfully along with the party, comprehensive national strength large promotion, national economy fast development. Staffs retirement pension obtains the increase, the zero employment family reduces, the low-rent housing construction obtains the guarantee. While economical fast growth, the economic structure unceasingly is also optimizing, from the producer goods to the subsistence means, the industry arrives the light industry severely, the profit all presents the great scope the growth situation, specially Chinas capital market obtained the unprecedented fast development. However, in these economical development behind, also has some problems, 2007 price rise question is serious, CPI creates new high again, specially in November, had achieved 6.9%, whole year expend the price increase scope to surpass the anticipated control goal obviously, although the price rise has the constitutive rise characteristic as a whole, but the economy grew still presents the economy superheat and the inflation tendency.In 2007 the Central Bank threads up the macroscopic economical the pulse implementation monetary policy, from “steady” “steady is moderately tight”, again from “is moderately tight” “from tightly”, the central bank monetary policy adjusts own rhythm unceasingly along with the macroscopic economical change, the central bank has been implementing for 10 years long time the steady monetary policies to start to change. In this year, the Central Bank through 10 upward bank reserve against deposits rate, 6 upward Renminbi saves the loan datum interest rate, the enlarge open market to flushes the operation dynamics and so on, attempts unceasingly guides Chinas economy from the superheat edge to the reasonable growth sector return. Since this article through the monetary policy movement path has carried on the review and the analysis to the reform and open policy, expected can provide certain model significance to the current monetary policy formulation.2. Monetary policy implementation and effect analysis since reform and openThe reform and