进一步巩固人民币汇率形成机制改革成果

2014年初，我国面临较大的跨境资金净流人压力，促进国际收支基本平衡也面临较大挑战。2014年2月下旬特别是3月份新汇改以来，人民币汇率双向波动明显增强，推动我国国际收支逐步实现自主平衡。三季度，我国外汇供求关系继续趋于平衡，这是3月份汇改新成果的进一步体现。从2014年前三季度的外汇供求表现来看，新汇改已取得了积极成效，有助于进一步坚定深化人民币汇率形成市场化改革的信心和决心，应抓住当前外汇供求基本平衡、人民币汇率双向波动观念渐人人心的有利时机，进一步巩固人民币汇率形成机制改革成果。

Further strengthen RMB exchange rate formation mechanism reform

In early 2014, China was faced with high pressure from cross-border capital net inflow and challenges of maintaining the balance of payments. Since late February and particularly March this year with new reform measures, RMB exchange rate has shown two-way volatility and promoted the gradually balanced international payments. In the third quarter, China＇s FX demand and supply remained in balance, which was another achievement of the exchange rate reform in March. In terms of FX demand and supply in the first three quarters of 2014, the new reform has made progress and could further strengthen the confidence of the market-based RMB exchange rate regime reform. The reform achievements could be further enhanced by utilizing the favorable opportunity of balanced FX demand and supply and the commonly accepted RMB exchange rate two-way volatility reality.