The Choice of RMB Exchange Rate and the Internationalization of RMB under the Financial Storm

The financial storm that has spread to the whole world has already influenced major economies at present. China, which is actively involving itself in the global economy,cannot get rid of its influence. Among the economic departments that are undergoing strong attacks, export industries are the worst influenced. According to the statistics by General Customs Administration, in November 2008, the total value of imports and exports decreased by 9% compared with the corresponding period last year. The total value of exports decreased by 2.2% while that of imports decreased by 17.9%.