The open market operations since the end of January showed that the central bank has set up interbank interest rate corridor for liquidity, this indicates that policy will be steadily tighten up. ANBOUND's chief researcher Chan Kung suggests the central bank to maintain liquidity easing environment under the current context and form a multi-level regulation system to resolve the issue of shadow banking risk. Generally, effective regulation and moderate liquidity easing is the best policy mix to promote steady economic growth, boost market confidence and prevent early exposure of economy risks.