Zhou Xiaochuan: Monetary policy setting needs to adhere to multi-objective system

China's monetary policy needs to be set around low inflation, economic growth, high employment and balance of payments goals in the transition period of economic reform, according to Zhou Xiaochuan, the governor of the People's Bank of China. Zhou Xiaochuan expressed this in the "2009 China Financial Forum" held in Beijing. Zhou Xiaochuan said that in the second half of the 90, especially since this century, many countries in the world have assumed that monetary policy objectives should be simple, and that controlling inflation has become the sole objective of monetary policy.　　Over a period of time, this practice in many countries have achieved very good results, but in response to this round of the financial crisis is inadequate. Mr. Zhou pointed out that China's monetary policy was set around four goals, including low inflation, economic growth, higher employment and a general balance of payments.　　China's economy is in the transition period, the specific operating mechanism and conduction mechanism of monetary policy are different from those in developed countries and many market-oriented countries, which determines that our country should insist on the multi-objective system in monetary policy setting. Zhou Xiaochuan pointed out that China's monetary policy is currently using the "four major goals and balanced" approach is appropriate, and corresponding to the financial crisis is also useful, but also in the future will continue to evolve.