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| Author: | Zhou, Fengping |
| Title: | The conditions for makeing RMB freely convertible and risk evasion (original in Chinese) |
| Journal: | Journal of People's University of China (c)
1998 : 5, p.24-28 |
| Index terms: | FOREIGN EXCHANGE MONETARY POLICY CHINA |
| Language: | chn |
| Abstract: | The following are the necessary conditions for making RMB freely convertible: 1. ample foreign exchange reserve; 2. high level of opening and strong comprehensive national strength; 3. solic financial development foundation; 4. more perfect financial market system; 5. good micro economic state; 6. rational exchange rate level. At present, only under current account, RMB is convertible. To make RMB convertible under capital account from under current account should be a progressive process. And the following preparations should be made: keeping balance between revenue and expenditure, handling "bad debt", replenishing capital fund, improving risk-monitoring information system and practising marketization of interest rate. |
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