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| Author: | Fu, Jianshe |
| Title: | Some thoughts on the issue of making Renminbi freely convertible (original in Chinese) |
| Journal: | Contention
1994 : 2, p.38-40 |
| Index terms: | FOREIGN EXCHANGE CHINA |
| Language: | chi |
| Abstract: | At present, under the floating rate system, every country in the world has very little foreign exchange reserve while making money freely convertible. However China has as much as over $60 billion of foreign exchange balance, among which $20 billion are the country's, $30 billion are the banks' and $10 billion are the cash foreign exchange held by residents. Such a high foreign exchange reserve can fully keep exchange rate stable and guarantee to make Renminbi freely convertible. |
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