But it cannot be denied that the spontaneous transmission function of the stock market cannot be neglected any more . the solution to the low transmission efficiency should focus on the internal adjustment of monetary policy system and raising the stock market efficiency 但不可否认的是股票市场传导货币政策的自发作用越来越不可忽视,需采取相应的措施来提高这种自发传导的有效性。