| Abstract: | At the beginning of 2007, both foreign investment banks and domestic commercial banks all thought that last year's RMB appreciation would grow between 4 to 5 percent; however the realization of a 6.77 percent increase has surprised everyone. The RMB has appreciated much faster than expected, keeping pace with the rise of China's foreign trade surplus and foreign exchange reserves. China's foreign trade surplus totaled US$ 177.5 billion in 2006,and this year's surplus already reached US$ 238 billion during the first 11 months of 2007,far exceeding the total from the previous year. |
