The Research On The Influence Of The RMB Exchange Rate On TEH Adjustment Of Industrial Structure In Our Country

With the accelerating pace of economic globalization, international and domestic market is more and more cohesive,which lead changes in the international market to be increasingly obvious impact on the domestic industrial structure. As the most important variables in communication between the markets, the effect of exchange rate on China’s industrial structure adjustment is self-evident. At the same time, With the acceleration of marketization of RMB exchange rate formation mechanism, exchange rate two-way movements has become a "new normal", the volatility and uncertainty are increasing.In this background, the study of the relationship between the industrial structure and Ren Min Bi (RMB) exchange rate changes has become increasingly important.Based on the theory derived of exchange rate affecting industrial structure, the argument concludes that the exchange rate influences the adjustment of industrial structure mainly by the import and export trade and foreign direct investment (FDI).For further study the path of exchange rates affect the industrial structure, this article entries point from the exchange rate elasticity analysis method, analyzes on the factors of exchange rate of different factor intensity import-export products and FDI inflows. Through the change of the import-export products structure and industry structure of FDI, elements resources can flow between different industries and reconfiguration, resulting in the change and adjustment of the domestic industrial structure. Elastic analysis showed that in trade path, the appreciation of the RMB is beneficial to promote the resource elements inflow from resource-intensive and labor-intensive products into capital-intensive and technology-intensive products; In investment path, the appreciation of the RMB is helpful for the resource elements inflowing from labor-intensive, capital-intensive industries into the technology-intensive and resource-intensive industries.This article also on the basis of Moore structure value constructing a more reasonable industrial structure optimization index. On the Madhyamika’s view of the industry, establishing a model to further verify the different elements intensive import-export products and industries’s impact on the industrial structure adjustment through exchange rate. According to the empirical, RMB exchange rate appreciation helps elements resources inflowing from labor-intensive products manufacturing enterprises into resource-intensive, capital-intensive and technology-intensive production enterprises;At the same time, the appreciation also can cause FDI inflowing from the labor-intensive industries into resource, capital and technology intensive industries industry, so as to promote upgrading of the industrial structure. Based on the conclusion of theoretical analysis and empirical analysis, I will put forward to policy suggestions.