Talking about the Reform of RMB Exchange Rate System

Since July 21,2005 onwards,China began to implement a market-based,with reference to a basket of currencies to adjust,managed floating exchange rate system.But the revolution has just begun,the RMB exchange rate formation mechanism is not perfect,in this case,the exchange rate system,a further adjustment and reform is necessary.In this paper,based on the context of economic opening of China to discuss China's current RMB exchange rate system characteristics,the positive aspects and shortcomings,in considering the constraints to further the reform of RMB exchange rate system factors and proposes further reform the exchange rate system in the direction,goals and countermeasures options.