The fourth quarter monetary policy report of last year shows that the diversified policy tools launched by China's central bank have promoted the release of its high-powered money. ANBOUND think tank scholars conclude that net capital outflows and the pressure of RMB depreciation have together boosted the dependence of high-powered money release on the central bank. The independence of monetary policies will be further strengthened due to the stabilizing tendency of RMB, and the central bank will also have more initiatives to create a neutral and moderate monetary and financial environment.