Research On The Relationship Between The China’s Monetary Policy Adjustment And The Liquidity Of Commercial Banks

China had cancelled the management of loans since1998，theregulation and the control of central bank’s monetary policy was givenpriority to the open-market operations， through the regulation ofmonetary policy tools influenced the liquidity of commercial Banks andthe intermediate goal of monetary policy，and realized the ultimate goalof monetary policy，and had achieved positive results. As China joined inWTO，the income of foreign exchange could increase constantly，and theincreasing foreign exchange had caused excess liquidity in the market. In2005，For the first time，the central bank mentioned the problem ofliquidity surplus in the report of commercial bank liquidity surplus，andthe problem of commercial bank liquidity surplus was included in macropolicy adjustment in2006the government work report. The subprimemortgage crisis in2008，the European debt crisis and the Money shortagein2013have an effect on our country commercial bank liquidity，centralbank regulate the monetary policy to reduce the impact， but theimplementation of the target of monetary policy needs the liquidtransmission mechanism，and the commercial bank liquidity were theimportant factor in the transmission mechanism of liquidity. So，studying the relations of the mutual influence between them is importantto the adjustment of the central bank’s monetary policy and commercialbanks to cope with the effects of monetary policy. In the first，the paper introduces the theory of liquidity and monetary policy，then analyses thepresent situation of our country commercial bank liquidity and themonetary policy adjustment，choosing2002-2013data of adjustment ofChina’s monetary policy tools，such as the reserve requirement ratio，central bank bonds，central bank buying and selling government bondsand monetary market interest rate，and by the empirical analysis study therelationship between the monetary policy adjustment and the commercialbank liquidity. Finally，Putting forward reasonable Suggestions for theadjustment of the monetary policy in China and commercial Banks’liquidity management.