人民币汇率目标区的政策效应与方案设计

汇率制度安排对于一国的经济发展具有重要作用。各国中央银行在选择汇率制度以及调整汇率水平时，必须使汇率制度与经济水平相适应，汇率政策与其他经济政策相协调。我国建立人民币汇率目标区，可以实现预期引导效应、吸收调节效应和货币政策强化效应，对于我国经济实现内外均衡具有重要意义。人民币汇率目标区方案的内容包括汇率、公开性、波幅和干预手段的设定，以及人民币汇率目标区的实施时机和策略．

On policy effect & regime designing of RMB exchange rate target zone

The exchange rate arrangement is important to the economic development of each country. In exchange rate regime choice and exchange rate level dajustment, the central bank must try its best to secure exchange rate regime and level in compliance with economy and the exchange rate policy in compatible with other economic policies. The establishment of RMB exchange rate target zone will fulfill its anticipation-leading effect, absorption-adjustment effect and monetary policy enhancing effect. These effects play an important role in achieving China's internal and external equilibrium. The RMB exchange rate target zone plan includes main factors such as central exchange rate, openness, band and intervention as well as timing and other important strategies.