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| Author: | Hu, Xuan |
| Title: | Several theoretical and practical issues concerning free convertibility of RMB under the current account. (original in Chinese) |
| Journal: | Research on Financial and Economic Problems (c)
1996 : 8, p.39-43 |
| Index terms: | CURRENCY FOREIGN EXCHANGE CHINA |
| Language: | chi |
| Abstract: | The capital inflow should be adjusted and controlled effectively. For instance , we should adjust and control the scale of capital inflow by adjusting exchange rates in the right time and in the moderate degree. To restrict putting RMB into circulation, we should soften the policy for using foreign exchange for import. In addition, we should strengthen the management of foreign-funded projects. In the line of the management of projects and the adjustment of and control over the total amount of foreign exchange, we should change the practice of purchasing foreign exchange without limit, increase the foreign exchange for importing the commodities in short supply at home and start open market business as soon as possible to offset the influence brought by the central bank's intervening foreign exchange market, on monetary policy. |
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