The Legal Issues Of China's Foreign Exchange Management Reform

Exchange control of China's economic reform is the process of integration into the world economy will inevitably have to face and solve a problem. Global economic and financial area in the multi-level, multi-channel exchanges and cooperation, making countries in international economic exchanges with the foreign exchange control reform an urgent need to take positive lenient policy. China from 1996 onwards accept IMF arrangements, to achieve the convertibility of the regular items on the capital projects from practice a strict exchange controls to the current conditional convertibility, with China in the world political and economic status of the continuous upgrading and international competitiveness of constant improvement of China to further promote the Exchange regulatory reforms become the economic development needs, but has also been widespread concern in the international community. But in recent years, the International Monetary Fund that countries should gradually relaxed exchange controls. The opening up of foreign exchange control is a double-edged sword, in a country's economy to bring great benefits, while exchange controls will be open serious impact on a country's currency market, the foreign exchange market to a country's economy and generates tremendous negative impact. The lessons of the Southeast Asian financial crisis also told us not be accomplished overnight relax foreign exchange controls must be gradual to.Foreign exchange control reform of the foreign exchange management as a part of the management system itself, the management system should be legislation with the match at the same time, while the control and management of foreign exchange from the open face of it is only part of the management of foreign exchange, but with the ever-increasing importance of its opening-up process a direct impact on economic evelopment in all its aspects. Therefore, the study of foreign exchange control reform process and open process in accordance with the Foreign Exchange Management corresponding sound legal system is a very important practical issue.Therefore,this article mainly analyses the problems in our legal system, it has five chapters. The first chapter mainly reviews the Foreign Exchange management reform course, actuality and problems;the second chapter analses the laws' function, our legal system actuality, the problems, it also provides some advice;the third chapter researches the Foreign Exchange of other countries , for example, Korea, Japan, Singapore, and TaiWan;the fourth chapter mainly analyses other systems which are correlative to Foreign Exchange system such as trade system and money laundering system;the fifth chapter analyses the conflicts between our Foreign Exchange system and the WTO rules, it also provides some advice; finally, it is the conclusion.