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| Author: | Han, Jiyun |
| Title: | An analysis of the operation of China's now foreign exchange management system (original in Chinese) |
| Journal: | International Economics and Trade Research (c)
1995 : 3, p.81-85 |
| Index terms: | FOREIGN EXCHANGE POLICY CHINA |
| Language: | chi |
| Abstract: | As a result of the establishment of the new foreign exchange management system in 1994, foreign trade enterprises' creating foreign exchange through exports has been promoted. Besides, the exchange rate system and inter-bank foreign exchange market suiting the need of market have been initially established. The new system is also favorable to attracting foreign investment in China, Moreover, the ownership of foreign exchange is defined clearly. But banks' systems for settlement and sale of exchanges have been still imperfect. The RMB exchange rate is still mainly regulated and controlled directly by the state. There still exist "dual track" (official exchange rate and swap-market rate) exchange system in foreign exchange market and there have been no perfect regulations governing foreign exchange as of yet. |
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