While the Fed is planning to pump more money into the US economy, the PBC is trying to reduce the amount of money in circulation in China. Money used by commercial banks to satisfy the RRR, which is held in accounts at the PBC, can no longer be extended as loans.
当美联储计划向美国经济注入更多货币的时候，人行反而在努力减少国内的货币流通数量。那些被商业银行挪作存款准备金的货币将被锁定在人行的账户中，从而无法形成贷款。结果大量货币被冻结，而且金额空前庞大。