Their research and presentations are very helpful for us to learn the useful country experience and further improve the monetary policy transmission and adjustment mechanism. With respect to China’s monetary policy transmission mechanism, I would like to add the following points:  I.
The study of monetary policy transmission should be attentive to the micro foundation, and to the sensitivity, speed and effects of banks’ and other financial institutions’ response to monetary policy. Only with a sound micro foundation, could monetary policy transmission mechanism be improved.