亚洲免费av电影一区二区三区,日韩爱爱视频,51精品视频一区二区三区,91视频爱爱,日韩欧美在线播放视频,中文字幕少妇AV,亚洲电影中文字幕,久久久久亚洲av成人网址,久久综合视频网站,国产在线不卡免费播放

        ?

        Evolution of China’s Foreign Exchange System

        2019-11-06 03:45:11肖莉
        校園英語·上旬 2019年10期
        關鍵詞:講師簡介漢族

        【Abstract】For a long time, China has been implementing relatively strict foreign exchange administration system due to shortage of foreign exchange resources, insufficiency of macro control capability, imperfection of market system. Since China took on the innovative opening-up policy in 1978, China forms a foreign exchange administration profile——“RMB (Chinese Yuan) is convertible for current account items, while partially convertible for capital account” step by step.

        【Key words】China; Foreign Exchange; Exchange regime

        【作者簡介】肖莉(1976-),女,漢族,山東臨沂人,山東醫(yī)學高等??茖W校,講師,碩士,研究方向:外國語言學與應用語言學。

        Chinas official currency, the Renminbi (RMB), is issued and managed by the Peoples Bank of China. On December 1st, 1948, the Peoples Bank of China was founded and started to distribute the RMB. The currency is denominated in Yuan (one Yuan equals 10 Jiao, and one Jiao equals 10 fen). The exchange rate of RMB is formulated by the Peoples Bank of China, and released by the State Administration of Foreign Exchange Control. China operates foreign exchanges in unified way and the State Administration of Foreign Exchange Control exercises its functions and powers on foreign exchange control.

        From 1949 till now,The evolution of Chinas foreign exchange system can be divided into four periods:

        1. Exchange regime during the planned economy (1949-1978)

        From 1949 to 1952, in order to adapt to the characteristics of taking over of the old China economy, the main task of the foreign exchange system is to establish a uniform, independent foreign exchange management.

        In 1953, China entered the period of planned economy. A highly centered, planning system was implemented in the planned economy environment. Bank of China was the only specialized bank involving in foreign exchange business.

        2. Exchange regime during the transitional period (1979-1993)

        Since 1979, there have been substantial reforms in the foreign exchange system in China. This period can be divided into two distinctive stages:

        Reforms within the planning framework (1979-1986). There were two major elements in the reform of the foreign exchange system in this period: one was the introduction of a foreign exchange retention system and the other was the devaluation of RMB Yuan for trade-related transactions.

        A double-track exchange rate system (1987-1993). More market-oriented reforms to Chinas foreign exchange regime began with the formal introduction of a swap market or secondary market in late 1986. This was the beginning of the transition from a planned foreign exchange regime towards one which was more market oriented.

        The double-track foreign exchange rate regime has the characteristics of an overvalued official rate and an undervalued swap rate. Despite the shortcomings of the double-track foreign exchange system, reform in this period greatly enhanced Chinas exports performance.

        3. Exchange regime during the socialist market economy. (Foreign exchange rate re-unification) (1994-7/21st, 2005)

        In 1994, China abolished its dual exchange rate regime and instituted a managed floating exchange rate system base on market supply and demand. The main features of this round of reform included (1) unifying the official and market exchange rate by merging the former with the latter; (2) abolishing the foreign exchange retention system and replacing it with the RMB settlement system for all export earnings; (3) replacing the swap system by and inter-bank foreign exchange market with a system of managed float; (4) the abolition of approval procedures for acquiring and using foreign exchanges for current account transactions. Since the beginning of 1994, Chinas exchange rate has been determined in the China Foreign Exchange Trading Centre (CFETC), an inter-bank foreign exchange market.

        Before 1997, the RMB exchange rate rose on the basis of stability, people at home and abroad had growing confidence in the RMB. Later, however, due to the eruption of the Asian financial crisis, in order to prevent a deepening crisis possibly caused by alternate devaluation of the currencies of neighboring Asian countries and regions, China, as a large responsible country, took the initiative to narrow the RMB exchange rate floating scope. Along with the gradual weakening impact of the Asian financial crisis, in recent years, Chinas economy has experienced sustained, steady and rapid development, economic structural reform has witnessed continuous deepening, new progress has been made in the financial field, foreign exchange control has been further relaxed, foreign exchange market construction has undergone constant development in depth and breath—all these have helped create conditions for improving the RMB exchange rate formation mechanism.

        4. Current reform of foreign exchange rate — pegging to a basket of currencies (from July 21st, 2005 till now)

        With the approval from the State Council, from July 21, 2005, China began to institute a regulated, managed floating exchange rate regime based on market supply and demand and in reference to a basket of currencies.

        The contents of this reform to the RMB exchange rate formation mechanism are: The RMB exchange rate is no longer pegged to the single US dollar, but rather, in light of the actual condition of Chinas foreign economic development, a number of principal currencies will be chosen and given appropriate weight to form a package (basket) of currencies. In the mean time, in light of domestic and foreign economic and financial situation, based on market supply and demand in reference to a package of currencies to calculate changes in multilateral exchange rate indexes of the RMB, exercise management and regulation on the RMB exchange rates so as to maintain a basic stability of the RMB exchange rate on a rational and balanced level.

        5. Conclusion

        On the RMB exchange rate issue, the Chinese government has always chosen an exchange rate system and policy suited to Chinas national conditions by adhering to an independent, highly responsible attitude and persistently proceeding from Chinas fundamental interests and the reality of its socio-economic development. And we have confidence that Chinas reform on the foreign exchange rate of the RMB is beneficial to the economic development of China, Asia and the world.

        References:

        [1]Chen X. W. Cultivation and Management of Chinese foreign exchange market[M]. Shanghai: Shanghai Peoples Publishing Agency? press.

        [2]Sun C. G. Foreign exchange theory and practice[J]. Beijing: Chinese Audit Publishing house.

        [3]Qiao W. Historical Evolution and Developmental Prospect of Chinas Foreign Exchange Market[J]. Practice and Exploration of Chinas Foreign Exchange Market. Beijing: China Financial Publishing House.

        猜你喜歡
        講師簡介漢族
        我是“紅領巾小講師”
        國清榮
        當代作家(2023年6期)2023-07-20 18:33:08
        金牌講師在哪里
        趣味(語文)(2021年4期)2021-08-05 07:52:10
        Study on Local Financial Supervision Right and Regulation Countermeasures
        Research on Guidance Mechanism of Public Opinion in Colleges and Universities in Micro Era
        Book review on “Educating Elites”
        Hometown
        數學小講師
        小學生導刊(2018年1期)2018-03-15 08:02:42
        改成漢族的滿族人
        國家視野中的河湟漢族
        丰满少妇被爽的高潮喷水呻吟| 在线观看视频一区| 亚洲欧美成人在线免费| 国产精品国产三级国产专播| 中文字幕无码成人片| 亚洲av成人一区二区三区| 激情人妻在线视频| 日本熟女视频一区二区三区| 国产欧美精品aaaaaa片| 欧美交换配乱吟粗大25p| 无码精品色午夜| 亚洲专区一区二区三区四区五区 | 国产精品视频二区不卡| 国产va在线播放| 国产av天堂一区二区二区| 97se亚洲国产综合自在线观看| 国产精品免费久久久久影院| 日韩Va亚洲va欧美Ⅴa久久| 国产一级黄色录像大片| 狠狠色综合7777久夜色撩人| 欧美aⅴ在线| av男人操美女一区二区三区| 嗯啊好爽高潮了在线观看| 中文字幕av无码一区二区三区| 日本a级大片免费观看| 国产精品高清国产三级国产av| 亚洲日韩国产av无码无码精品| 99久久久无码国产aaa精品| 国产亚洲一区二区三区夜夜骚| av网站在线观看亚洲国产| 亚欧色一区w666天堂| 久久精品国产丝袜| 亚洲av成人无网码天堂| 国产午夜精品无码| 白嫩少妇激情无码| av永远在线免费观看| 香蕉视频在线观看亚洲| 国产性一交一乱一伦一色一情| 国产午夜亚洲精品不卡免下载| 国产亚洲精品90在线视频| 国产精品一区二区无线|