| After the Financial crisis, the order of the international economy community has changed greatly, and the balance of economic power has been adjusted. In order to protect its own interests, on the one hand, each country adjusted its economy policy and economy system. On the other hand, each country put forward a series of demands to the policies of those economies unites that have close economic ties to its own economy. Under such international environment, China, as a rising power, has drawn more and more attention. As an important lever of foreign economic communication, the RMB exchange rate and RMB exchange system has received unprecedented attention. Represented by the United States, the international community has frequently accused the RMB exchange rate and exchange rate system, and has put rising pressure on RMB appreciation.In China, the industries and sectors that are closely related with the RMB exchange system was seriously affected. In the foreign trade sector, export received some recovery after experienced large-scale shrivel. In the terms of the international capital flows, foreign investment has grown while the investment from foreign counties has declined. Moreover, the changes of the capital projects in the current projects have a profound impact on China's International Balance of Payments, affecting China's foreign exchange earnings and reserves. In addition, changes in the international environment has no small impact on China's foreign trade management, the foreign exchange management of the China's exchange authorities, the management of the foreign exchange management bank and the tariffs and export tax rebates and some other relevant aspects.All in all, the financial crisis has brought great changes to the domestic and international community, and has brought great impact on the RMB exchange and RMB exchange system. In order to safeguard China's national interests and provide a good external international environment to China's opening up and economic development, the RMB exchange rate and RMB exchange system has fully researched and explored to find an exchange system that more suitable to China's current situation. Based on the existing research results, combined with characteristics of the present international and domestic economy, this paper, do some research on the RMB exchange rate and RMB exchange system, with a view to provide a basis to the construction of the RMB exchange rate and list system. On this starting point, this paper is structured as follows:Chapter one is introduction. In this chapter, we explained the background and significance of writing this paper, and summarized the existed literature. Besides, we gave a brief description to the characteristics of the times and the debate and pressure that international community exerts on the RMB exchange rate and put forward a view that the background of the RMB rate debate is the pressure that exert on the reform of RMB rate system. Moreover, we summarized the relevant literature of studying RMB rate system, to provide a basis to the research ideas of this paper, and on the other hand to make this paper seize the contemporary feature in the course of comparing and identifying.The title of chapter two is exchange rate, exchange rate system and the selection of exchange system. We explained the basic meaning of the exchange, exchange system, the selection of exchange system and the RMB exchange system. Besides, we gave a brief introduction to the determination mechanism of exchange rate, connotation and extension of the exchange rate system and the classification of the exchange rate system. As for the selection of the exchange rate system, we introduced the famous theory of Mendel triangle, which is the classical theory of the selection of exchange rate system. Moreover, we reviewed the evolution of the RMB exchange rate system, and summarized the structure and characteristics of the present RMB rate system.Chapter three is the impact of the financial crisis on the RMB exchange rate system, which is the core of this paper. On the basis of the last chapter, we gave a detailed discussion to the impact of the financial crisis on the RMB exchange rate system in various aspects. It mainly include the impact of changes in foreign exchange demand and supply on the system of exchange settlement and exchange management bank, the impact of international monetary system on the basket of currencies, the adjustment of the policies of exchange rate of the central bank, the changes of exchange rate flexibility and China's foreign exchange reserves.Chapter four is the RMB exchange rate system reform measures of the post financial crisis. On the basis of summarizing the impact of the financial crisis on the RMB exchange rate system, we discussed the adjustment of RMB exchange rate system, in order to adapt the times requirement and safeguard national interests. It mainly includes the reform of foreign exchange market, the expansion of flexibility, the adjustment of basket currencies, and other supporting measures and the national reform of the RMB.The main features of this paper is mainly reflected in the tightly grasp of the pulse of the times, and the research of the current hot issues. Against the changes and new requirements of the times, this paper discussed the RMB exchange rate system that concerned the national interests and future development on the basis of the existed theory, and put forward corresponding measures, which reflects the characteristics of the times. Therefore, the main innovation of this paper lies in the comprehensive study of the exchange rate system, combined the characteristics of the times, but not limited to the exchange rate itself and the exchange rate formation mechanism.Restricted to the study object and personal ability, this paper's main flaw is the lack of empirical analysis. Exchange rate system itself is a system itself. Exchange rate system itself concerns relatively widely. And these problems have led to more difficulty to the evaluation of the performance of the exchange rate system. |
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