Yuan Freely Convertible

This paper makes efforts on the issue of RMB convertibility under capital account and the process of convertibility. On this point of view, the relationship of RMB capital account and the fluctuation trend of foreign exchange has been analyzed both in character and in amount. And then, with the help of the experience and lessons of other countries, the step and policy advice of China's RMB convertibility has been concludes. Details as follows:Chapter 1: Theoretical analysis about currency convertibility under capital account. In this part, the author gives the definition and history process of currency convertibility firstly, then concentrates on the analysis of problems such as the basic conditions of currency convertibility.Chapter 2: Analysis of the good and bad effects that currency capital account convertibility policy could exert on a country's economics.Chapter 3: Analysis of the relationship of RMB capital account and the fluctuation trend of foreign exchange both in character and in amount. And the idea of RMB will remain stable has been concluded. Chapter 4: Analysis of currency capital convertibility practices of different countries under different conditions. In this part, the author details capital account convertibility performing process of some developed and developing countries. Chapter 5: This part focuses on the whole thesis. According to the actual situation of China, the paper put forward the key opinion of the author-RMB convertibility under capital account is necessary to China's economic growth, and it is an irresistible trend of world economic globalization. But on the other hand, it cannot be completed at a very short time, it should be completed step by step, in accordance with China's economic institution reform and financial open-up procession. At the end of this part, a series of practical and feasible suggestions on the present economic policies relating RMB convertibility under capital account are also put forward.