An Empirical Research into the Impact of the Change in the Exchange Rate of RMB on China's Main Import Agricultural Products

With the continual appreciation of RMB against US dollar,the real effect exchange rate(REER)of RMB is also changing compared with agricultural products of China and the pressure on agricultural import from abroad is shown gradually.The empirical analysis based on cointegration test and error correction model shows that China's major import agricultural products and the real effective exchange rate are not strongly connected,except the import of cotton,soybeans and edible vegetable oil.In general the effect of the change in exchange rate of RMB on import is uncertain both in the long run and in the short run.