A Research On The Marketization Of Interest Rate Under The Effect Of The Negative Interest Rates

China, as the world's most important developing countries in the buffer after a period of crisis experienced significant changes, especially position in the economic field has been significantly improved in the international influence has been in rise and be recognized. Since the end of 2009, the central bank continued to adjust the deposit reserve ratio and basic deposit and lending rates, the main purpose is to adjust the economic growth rate, control inflation, and better promote the economic and financial health stable and orderly development. The reason for the existence of negative interest rates can be found to recover its roots lays the level of market interest rates.This is the reality in China in the negative interest rates and economic and financial policy of the state of our country to explore market-oriented reform of interest rates to find the existence of negative interest rates, causes and effective solutions and methods, and explore the deepening of market-oriented reform of interest rates.This paper first describes the analysis of negative interest rates, and thus to deepen the background of interest rate market. In the analysis of negative interest rates will discuss its impact on investment, consumption and other effects. Analysis of its investment, consumption related to the interest rate and price level (inflation rate). Then explore the market-oriented reform of interest rates, summarized the lessons learned abroad, and to Shanghai SHIBOR example of market-oriented reform of interest rates to analyze the actual situation, to find out the effect of the negative interest rates under the effect of deepening the reform proposal and look forward to find a Consistent with the actual situation of the order of practical, efficient market-oriented interest rate reform path.