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| Author: | Zhu, Mengnan |
| Title: | Evolution to the system of free exchange settlement: problems in the existing system of exchange settlement and option of reform tactics (original in Chinese) |
| Journal: | Intertrade (c)
1997 : 2, p.38-39 |
| Index terms: | FOREIGN EXCHANGE CHINA |
| Language: | chi |
| Abstract: | China's existing system of exchange settlement with obvious compulsives leaves both enterprises and the designed foreign exchange banks no room for option. Therefore, it must be reformed. The basic ideas on its reform are to change the compulsory exchange settlement system into "aspiration one". The concrete reform measure to be taken is to allow enterprises dealing with domestic and foreign trade and the designated foreign exchange banks to have a certain proportion of foreign exchange banks to have a certain proportion of foreign exchange assets for operation. As to the method, the reform measure will be implemented in both domestic and foreign-funded enterprises at the same time. In terms of technology, the mechanism of adjusting the proportion of money-holding (RMB or foreign currencies) or exchange settlement. |
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