China's Foreign Exchange System Reform In The Capital Account Opening Perspective Study

China face a more external economical system after she attended the WTO. In this process, the opening process of capital account is important to Chinese economical stability development. So, if we think about all-sides factors, we could be more impersonal and judgmatical in this problem and this would help us to give some practical advise.This paper bases on a deeply analysis of Chinese foreign exchange management system and reviews the effect of capital restriction, we learned that the effect was weaken as the economical opening. The paper gives all-sides analysis about the condition that the open of capital account needed. Such as the marketing of interesting rate, the system reform of financial organization and the development of stock market. At last the paper connects the property theory with the policy constitute and gives some advice about the policy of capital account opening.