Medium-term Rmb Exchange Rate Regime Choice - Exchange Rate Target Zone

Today world is opening world, the integrity of world economy become more and more strong. Exchange rate is the core of variances of open economy, so the choice of exchange rate regimes is very important for every country. In the past two decades, the analysis of financial crisis such as Latin America,Asia, Argentina has disclosed that the improper exchange rate regime is the important causes of these crisis. Since 2002, some officers from Japan,America,Europe urge china to have RenMinBi raised in order to solve the problem of job in these countries. From the two points , the trend of changing China's exchange rate regimes is not invertible. The paper elaborates from historic and logic angles that will be practicable as a transitory regime, and raise the practicable project of practicing Exchange Rate Zone .The first chapter elaborate that why the middle exchange rate regime is practicable for the developing countries. The second chapter theoretically elaborate the practicity of Exchange Rate Zone from these aspect such as the meaning ,. model, modification and extend of Exchange Rate Zone. The third chapter elaborate the history of China's exchange rate regime and anal size the efficiency of the present regime, finally according to the analysis of the preceding two chapters and the chapter practicing Exchange Rate Zone is the best choice presently. The fourth chapter and the fifth chaper elaborate the determination of the central exchange rate and the means of maintain Exchange Rate Zones.