2014年货币市场运行报告

Money market performance in 2014

2014年，我国继续实施稳健的货币政策，坚持总壁稳定、结构优化的要求，运用多种货币政策工具双向调节市场流动性，推动经济结构调整。货币市场的主要运行特点是：市场成交稳步增长；利率走势呈U字形，各子市场利率相关性较高；资金继续由银行业金融机构流向非银行金融机构；非银行金融机构和非法人机构交易活跃度有所提高；对外开放步伐加快。

In 2014, China continued to implement a sound monetary policy and follow the requirements of stable overall quantityand refined structure to promote the economic restructuring through various monetary policy instruments to flexiblyadjust the market liquidity. The major features of the money market performance are： stable growth in market trading,U-shape interest rate movement, high correlation in different interest rates, fund flow from banking institutions tonon-bank financial institutions, more active trade in non-bank financial institutions and unincorporated entities, andaccelerated pace in opening up.