Analysisoftheimpactofforeignexchangereform-畢業(yè)論文翻譯0

1、An alysis of the impact of foreig n excha ngereformAbstract With the new RMB excha nge rate mechanism used, the RMB exchange rate has begun to move closer to the real market value of this paper will introducethe backgroundof the RMB exchange ratereform, and other reas ons, the reform of RMB excha ng

2、e rate impact an alysis, and deep-level thinking.Keywords: because the historical backgro und of the RMB excha nge reform In flue nee of July 21, 2005, People s Bank of ChinaannouncedApproved by the State Coun cil, si nee July 21, 2005, Chi na bega n to impleme nt market-based, with refere nee to a

3、basket of curre nciesRegulated, man aged float ing excha nge rate regime the central bank to adjust the exchange rate the most importantmechanismof the RMB exchangerate haschanged from a single dollar peg to a basket of major curre ncies, which is an importa nt step,which means theyuan to float free

4、ly taken a historicstep in China sieconomiccapability to withstand risks are very helpful,flexible excha nge rate system to in crease the effective ness of mon etary policy.First, the historical background of the RMB exchange rate reformChina s economy in recent years,rapid developme nt and relative

5、ly sluggish world economy in sharp con trast to the Un ited States, Japa n, represe nted by the developed countries for China s cheap manu facturi ngproducts showed strong dissatisfacti on,because they think it is “ Made in China ” The low price has caused the con ti nued trade surplus with thesecou

6、ntries,so they makethe yuan should be revaluedasChina s trade surpluscon ti nuesto expa nd,thisappreciati onfrom theintern ati onalaspects ofthein creas ing pressure.Mean while,the People sBank of Chinatokeep RMB excha nge rate stable, con ti nu ous double surplus con diti ons, had to buy foreig n e

7、xcha nge, in vest RMB, which is not only the foundation of our money supply had a significant impact, but also on the RMB excha nge rate formatio n mecha nism produced distorted.As well as by the in ter nati onal impact of RMB appreciati on expectations, a lot of hot money into China through various

8、 cha nn els, China poses a threat to finan cial stability, so the RMB excha nge rate reform is imperative.Second, the mai n foreig nexcha ngereformOn the one hand, the RMB exchange rate formationmecha nismreform for China for a better internationalen vir onment,the proper appreciatio nof theyua nint

9、ern ati onalcommunityto help reduce the pressure ofRMB appreciatio n, the in ter nati onal com mun ity to reducethe expected appreciation of the renminbi, China s stablefinan cial en viro nment.On the other hand, the RMB exchangeratereformwill helpto improve thein depe ndenceofmon etarypolicy,foreig

10、 nexcha ngeforreduc ingtheimpact of base mon ey, the cen tral bank can use mon etarypolicy more macroeconomicadjustmentin China, is amore healthy and stable economy run.Third, an alysis of the impact of foreig n exchange reform1 the impact of China s foreign tradeFirst, from the import side, the RMB

11、 excha nge rate reform, making the pric ing of the people tend to rati on alize, after the reform on RMB appreciation has been in the state, therefore, for imports, the relative decline in the cost to expand the import of corporateprofitmargins. At thesame time an in crease in imports will be in cre

12、ased to some exte nt, domestic competiti on, will help improve the competitive ness of domestic en terprisesaware ness,improve labor productivity, but also should be no ted that imports too much means there is a lot of domestic un derutilized resources , the lack of efficie ncy.Secon dly,from the ex

13、portside, the RMBexcha ngerate reform,mak ingthe prices of exportproducts, mainly from China s current low prices of the curre nt situati on of the in ter nati onal market, i ncrease the cost of China s export enterprises will lose part of the market, n arrow ing profit space, but from the perspecti

14、ve of Iong-termappreciation of the yuan will promoteChina s in dustrial upgrad ing and enhance aware ness ofChina s export competitivenessof enterprises, improvethe tech no logical content of export products.(2) the impact on China s monetarypolicyRMB excha nge rate reform will in crease the aut ono

15、my of mon etary policy, cen tral bank can make theactualecono micdevelopme nt to con trolthe money supply,rather than passive foreign exchange trading for the stability of the currency of China s currency has a positive role in China s current higher levels of inflation,it isprecisely because too ma

16、ny passive foreig nexcha nge,money supply and China s actual economic situation does not match, but from the curre nt actual situati on, the central bank interventionin the operationof the RMBexcha nge rate U.S. curre ncy is still Although the yua n has appreciated aga inst the U.S. dollar higher, b

17、ut the major Western coun tries from therequireme ntsandexpectations also very different. This has resulted in China s foreign exchange market the dollar and the RMB in short supply of over-supply situati on and therefore also in the specific impleme ntati on there are some problems.3 the impact of

18、China seconomicdevelopment Stable exchange rate is the prerequisite for the healthydevelopme nt of n ati onal econo my,theexchange ratereformwillhelp the stability of theRMBexchange rate. Whether the cost of import and export bus in ess man ageme nt,orattracti ng foreig n in vestme nthas a positivee

19、ffectandonly a stable exchangeratesystem, cost acco un ti ng can be stable, but also con ducive to the excha ngerate risk man ageme nt,while theexchange rate of RMB exchange rate reform for China stability is a n ecessary prerequisite, it is worth noting that the stability is not men ti oned here a

20、fixed excha nge rate of a static level, but can be adjustedaccordingto themarket en viro nment of relatively stable. http:/www. .comFourth, the reform of the re-thinkingWith thedeepening of economicglobalization, China s reformand opening up, China s growing integration into the wins to the world ec

21、ono my, Chi na s impact on the world economy growing, while the dependence on the world economy is alsoin creas in glybe. ourIon g-termsusta in ability of the double surplus, the rapid in crease in foreignexchange reserves and huge foreign exchangereserves shows that China has bee n in a serious ext

22、er nal imbala nee. renminbi excha nge rate adjustme nt related to the multi-nationaleconomicinterests, “ redistributenand therefore we shouldstre ngthe nintern ati onalexcha nges and cooperati on.Reform of the RMB exchange rate mechanismthe size of the domestic econo my, i n a sense depe nds onthe aware ness of people aga inst excha nge rate risk, so weneed to strengthenthe exchange rate risk preventionawareness, to guard against the risk of preparation, the ab