Analysis The Influence Of American Quantitative Easing Monetary Policy On Chinese Stock Price

With the opening of China’s capital market, International capital markets can easilyaffect China’s capital market, China and the U.S. as the first, the second largest economyin the world, China and the U.S. are each other’s second largest trading nation, Frequenttrade between the two countries, China and the United States is closely contact at theeconomy and the financial sector. one country Changes monetary policy may have animpact on another country’s economy. Therefore, the study of U.S. quantitative easingaffect China’s stock market has important practical significance.This paper studies the impact of the U.S. quantitative easing policy implementationof China’s stock market, Combination of theoretical and empirical. First, theoreticallydiscusses the international transmission mechanism of monetary policy, analysis of theU.S. quantitative easing monetary policy impact on China’s stock market channels. Afterthat, through empirical study of the impact that the U.S. quantitative easing monetarypolicy Influence the China’s stock market. Select the U.S. money supply M2, the U.S.federal funds rate, China’s money supply M2, short-term international capital flows,stock market closing index, and study these data through empirical research, Mainly usedGranger test and impulse response analysis to study the relationship between these timeseries. Finally, the article based on empirical test results, Put forward some feasiblepolicy recommendations.This paper studies draw: U.S. quantitative easing monetary policy mainly throughthe impact of China’s monetary policy to affect China’s stock market. U.S. quantitativeeasing monetary policy will also affect China’s exchange rate, monetary policy,short-term international capital flows.