The research looked at how money demand in China changed from 1952 to 2004, focusing on different types of money. They used various methods to analyze the data and found that real money demand was more accurate than nominal money demand. Narrow money demand was the most reliable, suggesting that policies should target this type of money. The study showed that economic reform had a big impact on China's economy, with income being the main factor affecting money demand. Other factors like wages and the ratio of total deposit to income also played a significant role.