The Realistic Choice of Exchange Rate System of RMB

The exchange rate system that a country chooses should be able to meet the requirements of economic development and contribute to the harmonuous operation of economy.India and China have approximately the same realistic background about the need to reform exchange rate system,but the currency authority of India has kept the basic stability of the exchange rate of Rupee in implementing an exchange rate system with manageable floating,which we can use for reference.At present China has the stable foundation to sustain the strength of RMB.The change of exchange rate system should be based on Chinese national interest in the global finance and economy rather than yielding to the political interest of some powerful countries.