The Transfer Effect Of Changes In RMB Exchange Rates On Chinese Import And Export Price

International currency regime has entered the floating rate era since the Breton Woods regime disassembly, exchange rate change becomes the constant state characteristic in the foreign exchange market. As an essential constituent part of price system, exchange rate change can change the comparative price of import and export goods. This paper lead with the inner relationship between them, analyze the affection to the price of the imports and exports commodity caused by the exchange rates of RMB.In this paper, the relevant theory, and research literature done a brief review, and on this basis, to take the theoretical analysis and empirical analysis of a combination of research methods, the focus of the transfer effect of changes in RMB real effective exchange rate changes on Chinese import and export price. The theoretical analysis has discussed the exchange rate transmission incomplete reason from the different angle. Of these, a representative viewpoint mainly to have the static market not completely with the Industrial organization theory, from the dynamic supplies angle analysis precipitation cost theory, the market share theory which as well as the production globalization theory considered from the dynamic demand aspect and so on. Empirical analysis based on the monthly data from January 2000 to January 2008, econometric adopt modern methods-ADF unit root test, Granger causal relation inspection method and least square method and the use of co-integration and error correction model of our country's exchange rate change to the import and export price transfer effect, the actual calculations used in the EVIEWS5.0 statistical software as a measurement tool. The theoretical analysis and empirical analysis's content is unifies.Findings indicate that the transfer effect of changes in RMB exchange rates on domestic CPI is incomplete and time-lagged. Furthermore, the elasticity of import prices to exchange rates is quite higher than that of CPI. Our country merchandise exports price existence incomplete exchange rate transmission phenomenon, and time-lagged, the exchange rate change transmission degree in the short-term and is also for a long time different, and not completely transmits. Finally, according to the theoretical and the empirical analysis result, carried on to the RMB rate change to our country import and export price's transfer effect comments and put forward the corresponding policy proposal.