Since China reforming and opening，there is basic change of economy running fashion。Monetary policy has become the main way to control and adjust Marcoeconomy by indirect path。These ask for research of monetary policy transmission mechanism should be more fullness。But now China's research on the question is lack either on theory or on practice。And monetary policy tansmission mechanism is thought the key reason to obstacle monetary policy's effection in China。Therefore，make China's monetary policy transmission mechanism clearly，then according to a kind of rule using monetary policy tools to adjust Macroeconmiy，it will be signature to complete ultmitate target of China's monetary policy and maintain well economic development。Under the background，this paper research China's monetary policy transmission mechanism and monetary policy rule。
Analysis the factors of monetary policy tansmission mechanism and indicate that the study on China's monetary policy transmission mechanism should develop from two aspects of organ transmission and economic variables transmission，summy the channels of monetary policy transmission，the different choice of west main countries on monetary policy transmission mechanism and de the change processs of China's monetary policy transmission mechanism。
By general equilbrium theory，study the relation between action of monetary policy transmission organs and money equilibrium。Based on the analysis of monetary policy transmission organs action，the paper researches the phases and dynamic process of monetary policy transmission game and analysis the game squence of corporation and resident and the squence's effection to monetary policy transmission mechanism。
Research how to choose the intermediate target of monetary policy，surmmarize the different choices of some countries，and analysis the feasibility of money supply amount，interest and inflation expectation。Gave monetary policy transmission structure under inflation expectation intermediate target and establish Siklos expan model，analysis China's monetary policy transmission effection under the intermediate target structure。
Study the inconsistency of China monetary policy transmission，on theory analysis the difference according to district macroeconomic model。Establish VAR model，demonstration analysis the difference degree of China monetary policy transmission and the effection of difference degree to China monetary policy ultmitate target based on 7 districts data of China。
On the base of clearing the meanings of monetary policy rule，establish test model of monetary policy rule by money supply amount，and test the rule of China monetary policy opertation。Under monetary policy rule structure，the paper studies the operation target and tools of China monetary policy，at last give some advice to develop China monetary policy transmission and policy effection。
This paper continues according to forthgoers and refers to their harvestes，so research on reference is the paper's base。In guidance of systeatology，this paper take advantage of a research method of combining development analysis and comparative analysis，qualitative analysis and quantitative analysis，theoretical analysis and positive analysis，deduction analysis and induction analysis。
