汇改重启影响与汇率变动展望

Abstract:>On June 19th，2010，the People’s Bank of China has announced that further reform of RMB exchange rate formation mechanism will be proceeded，and the flexibility of RMB exchange rate will be reinforced.Since then，the RMB exchange rate has maintained fluctuations in both directions，while it has exhibited an appreciation trend.This is followed by a related volatility of foreign exchange market，stock market and commodity market in the worldwide scale，on the first trading date.The appreciation of RMB will impact on China’s foreign trade，adjustment of economic and industrial structure，cash flow and internationalization process of RMB.The size of RMB appreciation next year is expected to be around 4%，and the external pressure for accelerating RMB appreciation remains.Preliminary results of exchange rate policy adjustment will appear at the end of this year or beginning of the next.

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