| The Appreciation Pressure on RMB Yuan and the Adjustment of RMB Exchange Rate Policy |
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| 引用本文： | Weiguo Xiao Bing Shao. The Appreciation Pressure on RMB Yuan and the Adjustment of RMB Exchange Rate Policy[J]. 中国经济评论(英文版), 2005, 4(6): 1-5 |
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| 作者姓名： | Weiguo Xiao Bing Shao |
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| 作者单位： | [1]Wuhan University [2]Anhui Office of China Banking Regulatory Commission |
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| 基金项目： | This paper is supported by Wuhan University Fund of Humanities and Social Sciences （2005）. |
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| 摘 要： |
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The Appreciation Pressure on RMB Yuan and the Adjustment of RMB Exchange Rate Policy |
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| Abstract: | China has maintained RMB exchange rate nearly unchanged since 1998. However, with the relaxation of capital control, a crawling peg, a more flexible RMB exchange rate regime, is inevitable. Based on improving the current formation mechanism of RMB exchange rate, Chinese government could widen the floating band around the central parity; in the long run, switching the peg from USD alone to a basket of currencies may be a better choice. |
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| Keywords: | RMB exchange rate appreciation policy |
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