Abstract:In 2018,China’s foreign exchange management reform,insisted on actively and orderly expanding the opening up of the financial sector,deepening the reform of the RMB exchange rate mechanism,and steadily achieving capital account convertibility,which coordinated as “troika”. From the perspective of balance of payments,on the one hand,the post-event supervision system of goods trade was continuously improved,the foreign exchange management reform of service trade was greatly simplified,and the cross-border trade facilitation work was continuously advanced. The personal foreign exchange management was based on meeting the needs of reasonable use of foreign exchange,which effectively prevented the financial risk. On the other hand,the capital account facilitation reform actively explored steady improvement. The capital account convertibility process was steadily and orderly coordinated,and the capital market interconnection and financial sector opening up was deepening. With the opening of the inter-bank bond market and the futures market,the RMB internationalization developed,the reform of foreign exchange management of other investments steadily advanced,and the macro-prudential policy of cross-border short-term capital flows was dynamically adjusted. Looking forward to the reform of foreign exchange management in 2019,We should further to form a virtuous circle of the new level of open economy,the financial sector opening up,RMB internationalization,the “Belt and Road” construction,the RMB exchange rate reform,and the security of the balance of payments in the new era.
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