| 摘 要： | Spokesperson from People＇s Bank of China said on June 19th, ＂further advance the reform in RMB exchange rate formation mechanism, and strengthen the flexibilitv of RMB exchange rate.＂ This is the first time for China central bank give a clear attitude on reform in RMB exchange rate, which attracts great attention for global market. Does strengthening the flexibilityof RMB exchange ratemean that RMB will appreciate again？ Why the central bank announces the news at this moment？ How to choose the time for the reform in RMB exchange rate formation mechanism？
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