2009•Journal of Lanzhou Commercial CollegeRequires access
Discussing on China's Foreign Trade after RMB Appreciation
Zou Xue-hui
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Abstract
The RMB appreciation has become an international economic and social focal point of public opinion.Since July 21,2005 the Chinese government reformed the RMB exchange rate formation mechanism and exchange rate adjustment,since the People's Bank of China announced today that China began to implement based on market supply and demand with reference to a basket of currencies,managed floating exchange rate system.RMB exchange rate will no longer be pegged a single dollar to form a more flexible RMB exchange rate mechanism,also announced that the RMB against the U.S.dollar by 2%.RMB appreciation,China's foreign trade is bound to have far-reaching impact.