Exchange Rate System's International Evolution and Our Country Exchange Rate System's Reform Direction

Transformation from fixed rate of exchange to floating exchange rate,after Bretton woods system's disintegration,is choice of most nations.In 2005 our country carried out exchange rate mechanism reform,the exchange control system also sped up reform step.When the double favorable balance gets unbalanced our country's present exchange rate system is facing many challenges.Therefore,continuing to advance Renminbi exchange rate system reform,expanding Renminbi floating exchange rate sectorand enhancing Renminbi exchange rate elasticity should be future direction of our country exchange rate system reform.