[economic Daily: monetary Policy needs further efforts] on May 29, the Economic Daily article pointed out that despite the relatively rapid growth in investment, the current investment structure is uneven, consumption growth is less than expected, and the export situation is grim. China's sustained economic growth is still faced with some urgent problems to be solved. It is mainly manifested in the insufficient investment in fixed assets, the low sentiment of real estate investment, the weak profitability of industrial enterprises and so on. In view of this, it is necessary to start from many angles. Monetary policy still needs further efforts, and the combination of aggregate adjustment and structural adjustment can improve policy effectiveness and provide sustained impetus for high-quality economic recovery. First of all, we should maintain a moderately loose monetary environment to ensure that the growth of the amount of money and the total amount of social financing is in line with the needs of national economic growth. Second, make good use of structural policies such as differential reserve ratio, reloan and rediscount rate. Thirdly, strengthen the cooperation between monetary policy, fiscal policy and industrial policy. Finally, we should promote a high level of financial openness and strengthen international financial cooperation and monetary policy coordination. Take measures in advance to reduce the negative impact of US monetary policy spillover. Keep the RMB exchange rate basically stable at the equilibrium level.