Welcome to Francis Academic Press

Academic Journal of Business & Management, 2020, 2(2); doi: 10.25236/AJBM.2020.020210.

Reform of the RMB Exchange Rate System and Future Prospects

Author(s)

Zhang Haochen

Corresponding Author:
Zhang Haochen
Affiliation(s)

Beijing 101 Middle School, Beijing 100091,China

Abstract

China's RMB exchange rate system has gone through four stages: dual exchange rate system, pegged exchange rate system, exchange rate floating system, and perfecting the mid-price quotation mechanism, which has already made individual achievements. However, China's exchange rate system still has many problems, such as the failure of exchange rate prices to fully reflect market supply and demand levels, as well as much government intervention. In the future, we should continue to improve the market maker system and promote the market-oriented reform of the RMB exchange rate system.

Keywords

RMB exchange rate system reform; RMB internationalization; RMB reform prospect

Cite This Paper

Zhang Haochen. Reform of the RMB Exchange Rate System and Future Prospects. Academic Journal of Business & Management (2020) Vol. 2, Issue 2: 87-91. https://doi.org/10.25236/AJBM.2020.020210.

References

[1] Feng Qiaogen (2018). Chinese Management Accounting in the 40 Years of Reform and Opening-up: Introduction, Change and Development. Accounting Research, no.2, pp.23-24.
[2] Zuo Haicong, Cui Yu (2016). Defects and Reform Suggestions of the Current RMB Exchange Rate System——Based on the Perspective of RMB Internationalization. China Southern Finance, vol.1, no.10, pp.23-28.
[3] Ding Zhijie, Yan Yan, Ding Yan (2019). Forty years of market reform of RMB exchange rate: process, experience and prospects. International Currency Review, pp.5-22
[4] Ba Shusong, Wei Qi (2016). Reform of RMB exchange rate system from the perspective of capital account opening. Rural Finance Research, no.10, pp.7-12.