The Chinese economy has entered a new normal, superimposing the impact of the trade war. The financial support of Chinese commercial banks for small and medium-sized enterprises is still insufficient, leading to the problem of financing difficulties for small and medium-sized enterprises and the poor transmission of monetary policy. In order to study how to promote Chinese commercial banks to follow the monetary policy orientation, increase financial support for small and medium-sized enterprises, and promote the transformation of economic development, this paper uses a comparative analysis method, through the comparative analysis of the economic environment of China and the EU. The author believes that the negative nominal interest rate policy of the euro zone countries can be of reference to China and can have a positive economic impact.