Part Ⅰ　Macroeconomy and Macropolicy
Introduction .............................................................／3
Macropolicy in Chinese Opening to the World ..............................／6
High Investment／Saving Rates in China ...................................／23
High Saving, High Investment and High Growth Rates
　　in the Process of Labor Force Transfer ...............................／46
Chinses High Saving Rates: An Explain ....................................／69
Some Needs of Macropolicy Changes ........................................／90

　　　　　　　　　　　Part Ⅱ　Monetary Theory and Policy
Introduction .............................................................／103
Money Supply Statistics and Control ......................................／109
Required Reserve System Reform: Creating precondition for Monetary Policy ／121
Open Market Operation: Key conducting Channel for Money Policy ...........／132
Macropolicy in Buy-sider Market ..........................................／137
Zero Required Reserve: New regime of Monetary Policy Operation ...........／147
Coordination of Monetary-Fiscal Policy: Theory and Practice ..............／155
Scale of Treasury Debt: Fiscal and Financial Equilibrium .................／174
Deflation or Inflation: From the Trend of Money Supply and
　　Interest Rate behavior ...............................................／186
Falling Price and Monetary Policy ........................................／194
Capital Adequacy, Required Reserve and Deposit Insurance .................／203
Marketization of Interest Rates in Following 5～10 Years .................／219
Currency Mismatch: the Risk of FX Reform .................................／230
Analysis on Bank “Deposits-Lending” Gap ................................／238
On “Tight Monetary Policy” .............................................／246

　　　　　　　　　　　　　　Part Ⅲ　Financial Markets
Introduction .............................................................／261
Chinses Money Market .....................................................／266
Saving, Investment and Capital Markets ...................................／283
Financial Support for High-Tech Enterprises ..............................／306
Restructuring the National Innovation System .............................／318
Four Issues of Virtual Economy ...........................................／325
Set-up of OTC in Capital Markets .........................................／334
Competitiveness of Financial System ......................................／342
Disintermediation: New Challenge to Chinses Financial Development ........／350

　　　　　　　　　　　Part Ⅳ　Macropolicy in Open Economy
Introduction .............................................................／363
Capital Flow in Chinses Opening to the World .............................／368
Financial Crisis in Eastern Asia: A Review ...............................／387
Economic Globalization: Theory ...........................................／394
Financial Globalization: Causes and Facts ................................／404
RMB Exchange Rates Reform: Policies and Strategy .........................／422
Global Imbalance: Causes, Sustainability and Countermeasures .............／478
Reform of Chinses Foreign Reserve Management in Globalization ............／496
Challenge and Opportunity for China in Reform of
　　International Monetary System ........................................／531

　　　　　　　　　　　　Part Ⅴ　Financial Development
Introduction .............................................................／541
Rise and Fall of Japan Bank-oriented System ..............................／542
Financial Center: Effective Mechanism for Concentration of
　　Financial Resources ..................................................／551
Multiplization: New Developments of Financial Centers
　　after Asian Financial Crisis .........................................／560
National Objective, Government Credit Standing and Market Operation ......／564
Financial Ecology: Theory and Practice ...................................／574