China's currency growth has been lower than 10% for three months, and in July the growth rate is only 9.2%. The market believes that the Central Bank's monetary policy operation has obvious "locking long-term and releasing short-term" characteristics. However, this can easily make the currency to be seen as having the contradictory characteristic of shortage of capital shortage but ample of currency, and also exacerbates the phenomenon of moving from the reality to the virtual economy. "Locking short-term and releasing long-term" is what the European and American Central Banks pay more attention on. China's Central Bank's future monetary policy needs to achieve "balance" in this regard.