Responsible for setting the intermediatetarget of monetary policy and coordinating efforts to achieve the target;proposing various options of monetary policy instruments and organizing theirimplementation; formulating interest rate policy and administrative rules forRMB and foreign currencies and RMB exchange rate policy; proposing andimplementing interest rate adjustment plans and exchange rate reform programs;formulating and implementing policy and operational rules for the open marketoperations; providing secretariat service to the Monetary Policy Committee ofthe PBC.