analysis of the impact of foreign exchange reform（分析外汇改革的影响）.doc

Analysis of the impact of foreign exchange reform [Abstract] With the new RMB exchange rate mechanism used, the RMB exchange rate has begun to move closer to the real market value of this paper will introduce the background of the RMB exchange rate reform, and other reasons, the reform of RMB exchange rate impact analysis, and deep-level thinking. [Keywords:] because the historical background of the RMB exchange reform Influence of July 21, 2005, People’s Bank of China announced Approved by the State Council, since July 21, 2005, China began to implement market-based, with reference to a basket of currencies Regulated, managed floating exchange rate regime the central bank to adjust the exchange rate the most important mechanism of the RMB exchange rate has changed from a single dollar peg to a basket of major currencies, which is an important step, which means the yuan to float freely taken a historic step in China’s economic capability to withstand risks are very helpful, flexible exchange rate system to increase the effectiveness of monetary policy. First, the historical background of the RMB exchange rate reform China’s economy in recent years, rapid development and relatively sluggish world economy in sharp contrast to the United States, Japan, represented by the developed countries for China’s cheap manufacturing products showed strong dissatisfaction, because they think it is ‘Made in China’ The low price has caused the continued trade surplus with these countries, so they make the yuan should be revalued as China’s trade surplus continues to expand, this appreciation from the international aspects of the increasing pressure. Meanwhile, the People’s Bank of China to keep RMB exchange rate stable, continuous double surplus conditions, had to buy foreign exchange, invest RMB, which is not only the foundation of our money supply had a significant impact, but also on the RMB exchange rate formation mechanism had distorted the same t