Research On Acceleration Of RBM's Free Convertibility

Since the Chinese authorities liberated RBM under the current account at the end of1996,the conversion of Renminbi has become the primary goal in the reform of China's financial system.There still remain some questions the policy makers have to answer:What is the appropriate procedures choices of RBM's free convertibility?How should China design the opening plan to maximize profits and at the same time control the risk brought out by such a reform?Questions like these are what this paper endeavors to answer.This paper consists of five Chpater two chpaters. Chpater one is introduction of the whole paper.Chpater two gives a breif introduction of procedures choices of RBM's free convertibility. Chpater three and four discusses the current situation of opening current account and capital account in China and its positive influence in the history. Chpater five raises the suggestions of the strategy and reform measures.