The Qfii System Impact Study On China's Monetary Policy

The economic globalization, the financial globalization already became now the world irresistible main melody,the capital essential factor's opening to the outside world also inevitably becomes the economic globalization the important component . Our country mainland stock market definitely gradually will also integrate to the opening to the outside world advancement, the QFII system is precisely an item of our country opening capital project and the stock market transition form system. But, capital projects have not yet been fully liberalized, the domestic securities market is still imperfect circumstances introduced QFII system, the domestic economy will inevitably have an impact on all aspects.This article has analyzed QFII emphatically to our country monetary policy influence.The author through to about the QFII system's literature's summary, discovered existing current mostly pauses to the QFII research to QFII aspects and so on system's introduction and to capital market influence. Very little involves to QFII to our country monetary policy influence, even if involves is also the word, has not carried on the systematic characteristic and the theoretical analysis. In view of this blank, this article for the first time systematic has analyzed the QFII system from the theory and the reality two aspects to our country monetary policy influence, there may be some innovative.This article mainly is divided four parts:The first part mainly carries on the elaboration to QFII and the related concept. Mainly introduced the QFII connotation, the development process, the theory rest on, the implementation significance as well as the investment flow.The second part mainly elaborated path analysis the QFII system to our country monetary policy influence, mainly analyzed two conducted the channel: Foreign exchange market and capital market.The third part mainly elaborated factor analysis the QFII system to our country monetary policy influence, has analyzed QFII through the foreign exchange market and the capital market two channels the concrete influence which produces to our country monetary policy each factor.The fourth part in view of QFII to monetary policy's related influence, proposed that further consummates the QFII system's related policy suggestion.