国务院令第215号
（Promulgated by Decree No. 215 of the State Council of the People's Republic of China on April 15， 1997）
颁布日期：19970415 　实施日期：19970415 　颁布单位：国务院

　　Chapter I General Provisions

　　Article 1 These Regulations are formulated¹ in pursuance of the provisions of the Law on the People's Bank of China for the purpose of being instrumental to the correct formulation of the state monetary² policy.

　　Article 2 The Monetary Policy Commission is the advisory³ and discussion body of the People's Bank of China in the formulation of monetary policy.

　　The Monetary Policy Commission shall be formed pursuant to these Regulations.

　　Article 3 The functions and responsibilities of the Monetary Policy Commission are to discuss the following monetary policy matters and put forth⁴ proposals on the basis of comprehensive analysis of the macroeconomic situation in accordance with the macroeconomic regulatory and control goals of the State：

　　（1） formulation and adjustment of monetary policy；

　　（2） monetary policy control goals within a specified⁵ period；

　　（3） employment of monetary policy tools；

　　（4） important measures concerning monetary policy； and

　　（5） coordination⁶ between monetary policy and other macroeconomic policies.

　　Article 4 The Monetary Policy Commission carries out its functions and responsibilities through its plenary meeting.

　　Chapter II Organization

　　Article 5 The Monetary Policy Commission shall be composed of the personnel of the following units：

　　Governor of the People's Bank of China；

　　Two Deputy Governors of the People's Bank of China；

　　One Vice⁷ President of the State Planning Commission；

　　One Vice President of the State Economic and Trade Commission；

　　One Vice Minister of the Ministry⁸ of Finance；

　　Director General of the State Administration of Foreign Exchange Control；

　　President of China Securities Supervisory and Control Commission；

　　Two Governors of commercial banks of sole state proprietorship⁹； and

　　One financial specialist.

　　Adjustment in the units of which the Monetary Policy Commission is composed shall be determined¹⁰ by the State Council.

　　Article 6 The Governor of the People's Bank of China， Director General of the State Administration of Foreign Exchange Control and President of China Securities Supervisory and Control Commission are members with automatic qualification of the Monetary Policy Commission.

　　Candidacy for other members of the Monetary Policy Commission shall be nominated by either the People's Bank of China or the People's Bank of China in consultation¹¹ with the departments concerned and submitted to the State Council for appointment.

　　Article 7 The Monetary Policy Commission shall have one President and one Vice President. The Governor of the People's Bank of China shall be the President； and the Vice President shall be nominated by the President.

　　Article 8 Members of the Monetary Policy Commission should have the following qualifications：

　　（1） He or she should normally be under 65 years of age with citizenship¹² of the People's Republic of China；

　　（2） He or she should be upright and honest in performing official duties with no law-breaking and discipline-breaking record； and

　　（3） He or she should have expertise¹³ in such areas as macro-economy， monetary matters and banking¹⁴ and practical experiences， and be conversant¹⁵ with relevant laws， regulations and policies.

　　Article 9 The financial specialist on the Monetary Policy Commission should， in addition to meeting the qualifications prescribed in Article 8 of these Regulations， have the following qualifications：

　　（1） He or she should have senior special technical title with more than ten years in financial research； and

　　（2） He or she should be a non-public servant of the State and have no position in any profit-making institution.

　　Article 10 The term of office of membership of the governors of the commercial banks with sole state proprietorship and the financial specialist on the Monetary Policy Commission shall be two years.

　　Article 11 Any member on the Monetary Policy Commission having any of the following circumstances， the People's Bank of China shall submit a report to the State Council for the relief of the said member from the membership of the Monetary Policy Commission：

　　（1） He or she who submits a written application for resignation；

　　（2） He or she who is no longer capable of representing the unit concerned to serve as a member of the Monetary Policy Commission due to change in position during the term of office； and

　　（3） He or she who fails to fulfil obligations of a member or is incapable¹⁶ of carrying out the duties as a member owing to various reasons.

　　Article 12 Change in the membership of the Monetary Policy Commission shall be handled in accordance with the provisions of Article 6 of these Regulations.

　　Article 13 The Monetary Policy Commission shall set up a secretariat as the standing¹⁷ office of the Monetary Policy Commission.

　　Chapter III Rights and Obligations of Members

　　Article 14 Members of the Monetary Policy Commission have equal rights and obligations.

　　Article 15 Members of the Monetary Policy Commission enjoy the following rights in the fulfillment of their duties and responsibilities：

　　（1） to get to know the situation in financial and monetary policies；

　　（2） to express views on questions discussed in the Monetary Policy Commission； and

　　（3） to put forward proposals to the Monetary Policy Commission on monetary policy questions and have the right to vote.

　　Article 16 Members of the Monetary Policy Commission should be present at the meetings of the Monetary Policy Commission and put forth suggestions and proposals relating to monetary policy matters.

　　In case of inability of a member to be present at the meeting owing to extraordinary circumstances， he or she should delegate a relevant person who is conversant with the situation as his or her representative to take part in the meeting with his or her written remarks， and the representative has no right to vote.

　　Article 17 Members of the Monetary Policy Commission should scrupulously¹⁸ abide¹⁹ by their duties and not abuse their powers and engage in malpractices for selfish purposes.

　　Article 18 Members of the Monetary Policy Commission should keep state secrets and commercial secrets， comply with the working rules of the Monetary Policy Commission and shall not divulge²⁰ monetary policy and related information in contravention of provisions.

　　Any member of the Monetary Policy Commission divulging²¹ state secrets and commercial secrets in contravention of provisions shall be removed from the membership of the Monetary Policy Commission and his or her legal responsibilities investigated in accordance with law.

　　Article 19 Any member of the Monetary Policy Commission shall not openly object to the monetary policy formulated according to legal procedures during his or her term of office and within one year after leaving the post.

　　Chapter IV Working Procedures

　　Article 20 The Monetary Policy Commission shall practise the system of regular meetings.

　　An ad hoc meeting can be held on the proposal of the President of the Monetary Policy Commission or the joint²² proposal of over one third of the members.

　　Article 21 The secretariat of the Monetary Policy Commission should， ten days before the convocation of the regular meeting of the Monetary Policy Commission， deliver the topics of the meeting and relevant materials to all the members； and during the meeting provide latest statistics and relevant technical analyses to all the members.

　　Article 22 The meeting of the Monetary Policy Commission can only be held when there are over two thirds of the members present.

　　The meeting of the Monetary Policy Commission shall be presided over by the President. The meeting shall be presided over by the Vice President on behalf of the President in case of the inability of the President to carry out his or her duties due to unforeseen reasons.

　　Article 23 Various views expressed at the meeting of the Monetary Policy Commission should be recorded in the form of summary of minutes.

　　A monetary policy motion put forward by members of the Monetary Policy Commission shall， when passed by vote by over two thirds of the members present at the meeting， form a proposal of the Monetary Policy Commission.

　　Article 24 The People's Bank of China should， while submitting its report on proposal for decision of yearly money supply， interest rates， exchange rates or other important monetary policy matters to the State Council for approval， enclose the proposal of the Monetary Policy Commission or the summary of minutes of its meeting as appendices.

　　The People's Bank of China should， while submitting its report on the decision of other related matters concerning the monetary policy to the State Council for the record， also submit the proposal of the Monetary Policy Commission or the summary of minutes of its meeting for the record.

　　Article 25 Internal working rules for the Monetary Policy Commission shall be worked out by the Monetary Policy Commission.

　　Chapter V Supplementary²³ Provision

　　Article 26 These Regulations shall come into force as of the date of promulgation²⁴.

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