RMB exchange rate regime and relevant problems

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人民币中期汇率选择研究——兼论钉住一篮子货币汇率制度

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江西财经大挚
硕士学位论文
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沈国兵2003对现有的经济结构特征与汇率制度选择关系的研究成果进行了汇总如表11所表11经济结构特征与汇率制度选择类别固定或钉住汇率制度浮动汇率制度长期长期金融市场发育金融市场发展经济规模小经济规模大不完全完善经济开放程度高政策相似性高经济开放程度低政策相似性低人均gdp低进出口价格弹性低人均gdp高进出口价格弹性高中期中期贸易集中度高生产要素流动性高贸易分布分散化生产要素流动性低贸易产品多样化贸易产品多样化程度低通货膨胀率相近通货膨胀率差异大程度高金融市场一体化资本流动受限制金融市场一体化程度低程度高资本流动较为频繁外债货币错配本币国际借贷外债货币错配本币国际借贷程度高能力低程度低能力高短期短期低通胀国际储备充足高通胀国际储各少经济波动主耍经济波动主要来自来自国内低贸易条件变动高贸易条件变动国外货币冲击占主导实际冲击占主导高产出变动低产出变动地位地位信息信息政策信誉较差政治稳定政策信誉良好政治不稳定12汇率制度选择的案例分析121发展中国家偏好汇率水平相对稳定20世纪90年代频繁爆发的货币危机引发了经济学家们对中间汇率制度的质疑但是固定钉住和管理浮动制仍然是多数发展中国家的选择

汇率制度与外汇管制

第章汇率制度与外汇管制 Exchange Rate Regime and Foreign Exchange Control比较固定汇率制度和浮动汇率制度的利弊；熟悉现行人民币汇率制度一、汇率制度（exchange rate regime 或Exchange rate system or exchange rate arrangement ）（一）概念：指一国货币管理当局对本国汇率变动的基本方式（包括对汇率水平、变动幅度等）所做的一系列安排或规定。

内容包括：汇率的决定基础、变动幅度、调节方式、协调管理机构。

（二）汇率制度的类型☐ 按变动幅度划分（传统分类）1、固定汇率制：指现实汇率受平价的制约，并围绕平价在很小的范围内上下波动的汇率制度。

金本位制度下的固定汇率制（1880-1914年）；布雷顿森林体系下的固定汇率制（1944-1973年）■两种固定汇率制度的比较相同点：1. 各国货币规定有含金量，中心汇率由金平价确定；2. 汇率水平相对稳定，围绕中心汇率小幅波动2、浮动汇率制：汇率水平完全由市场供求决定、政府不加任何干预的汇率制度。

单独浮动和联合浮动 Free floating 和managed floating ；clean floating and dirty floating■固定汇率制和浮动汇率制⏹ 比较的要点：实现内外均衡的自动调节效率问题；实现内外均衡的政策利益问题；对国际关系的影响固定汇率制：优点：1.利于国际贸易和国际投资活动的开展； 2.利于国际合作和各国政策的协调缺点：1.不能自动调节国际收支； 2.不利于国内经济平衡发展，BOP 的均衡是以牺牲国内经济为代价；3.易使通货膨胀在国际间传递；4.易受国际游资的冲击浮动汇率制优点：1. 可保持本国货币政策的独立性，阻止通胀跨国传播2. 调节国际收支；3. 减少外汇储备的需要缺点：1.不利于国际贸易和国际投资活动的发展；2.助长国际投机活动，加剧国际金融市场的动荡3.不利于国际合作和各国政策的协调■固定汇率制与浮动汇率制的优劣比较☐ 按是否钉住某一货币和波动幅度划分钉住汇率制和弹性汇率制☐ IMF 的划分1. 无独立法定货币的汇率制；2. 货币局制；3.传统的固定钉住汇率制；4. 水平波幅内钉住汇率制；5. 爬行钉住；6.爬行波幅内钉住；7. 无事先宣布路径的管理浮动汇率制； 8. 独立浮动什么是名义锚normal anchor ？指交易者心理上存在的一种预期，这种预期之所以成为名义锚，是因为交易者自己有一定的心理承受能力，在这心理承受能力的范围内，交易者不会改变自己的行为；当经济条件超过这个承受能力时，交易者就会改变自己的行为方式。

人民币升值外文译文

《xx货币：经济问题分析》概述诸多经济学家争论着人民币升值是有助于恢复世界经济平衡的一个重要因素。

他们还敦促中国实施政策使消费者要求，而非出口和固定资产投资，这一主要经济增长来源。

有人认为人民币升值是促进中国进口额的一种方式，可以促成全球经济的快速复苏。

中国官员承认再平衡经济的需求，他们强烈反对国际上对升值和通货的压力，称之为“贸易保护主义”。

有人把这一政策归于关心中国政府实施政策改变过快导致社会不稳定。

当奥巴马政权已迫使中国升值其货币时，也鼓励它继续购买美国国债。

截止2010年7月中国共持有8470亿美元国债，是美国最大的国债持有国。

一些分析显示尽管中国的货币升值能够推动美国对中国的出口，它也可以减少中国购买美国国债的需要，能够提高美国的利率。

这将导致中国制造产品提高对美国消费者的价格，同样提高对于中国制造的输入美国公司生产他们产品的价格。

诸多经济学家分析，即使中国显著地升值其货币，美国也仍需增加其储备并减少国内需求（特别是预算赤字），为了减少长期的贸易不平衡，中国将不得不降低其储备并增加消费。

xx货币的历史背景在1994年之前，中国保持着双重汇率制度。

由一个官方的固定汇率制度（由政府使用）和由进出口商在外汇掉期市场使用的一篮子货币制度所构成，尽管为了进口管制极大地限制了外汇所得，导致出现大规模外汇黑市。

这两个汇率有显著区别。

1993年官方兑美元汇率为5.77元与此相对的是外汇掉期市场上的8.7元。

中国的双重汇率制度（以及其他政策）因限制了中国在外国方面的进口而受美国批评。

1994年，中国政府统一了两种汇率制度，最初为兑美元8.7元，最后到1997年为止被允许升值到8.28并相对稳定到2005年7月。

人民币在活期存款（交易）的基础上变得可自由兑换，但非固定资产账户，这意味着元对于投资目的而言不是通常可以获得的。

自1994年至2005年，中国维持了人民币紧盯美元政策意图给中国的外贸和投资改善相对稳定的环境（这个政策防止汇率的大波动）———一个许多发展中国家在它们发展初级阶段所使用的政策。

安永笔试题分类汇总

EMAIL1.To manager: The latest sales data，Give your suggestion about our future extensionplan to the second class city？If we will build office in second class city, where should we choose?2.To manager: The result of the parley with xx company？Will the new combinationXX affect？How to lessen the unnecessary use of paper?3.To manager: Describe an inefficient procedure, suggested upgrade the old facilities,and no smoking in the office.4.To manager: Cooperation with Wal-Mart: The course of the meeting in 3 o’clock？should we talk about the bargain or not？If there’s no bargain, how to reparation？5.To manager: How is the training program going？promoted managers adopt ourcompany？Your suggestion about recruitment system？6.To manager: Which part of the office painting hav en’t finished？Is it affect the staff？When finish？7.To manager: Tell her the details of the arrangement of the annual diner, could itadvance the communication？What’s the difference between event of this year and the last year?8.To manager: Did the new recruiter adopt the working environment？Did the newbonus system boost the employee’s fertility? What’s your opinion about improve the working environment?9.To manager: the progress of the training of sales department. What is your opinionabout the new reviser of the way of gathering? Your suggestion about build a harmony environment in office?10.To manager: the implementation of the new intranet. Is two days enough? Give youradvice about how to lessen the disruption in the office.11.To manager: The output figure of manufacturing facilities, whether centralizemanufacturing, how to improve speed of manufacturing process?12.To manager: How's our new TV Advertisement going? What's your advice for ourstrategy? What do you think is the best strategy to approach our Brand strategy in China?13.To manager: What do you think about the quality inspection? Give me youradvice on health and safety. Do you think the statistics is sufficient?14.To manager: Tell the details of the ambassador’s coming. Your proposal of his visit.Suggestions for him to have a memorable experience.15.To manager: tell her the managerial expense account procedure; inquire he why mostmanagers are over budget on expense; your suggestion on minimizing the managerial expenditure.16.To manager: Give an idea about your departmental communication; 10％increasethe budget of your attending to a conference; Congratulate to her recent success. 17.To manager: the sales forecast of the ne xt month. The budget increase of covertraining. Suggestion about the new accounting procedure.18.To manager: How to improve the efficiency between Suzhou and Shanghai office?How is the training program going in Beijing? Should the training program conducted by Beijing office be implemented in the Headquarter?19.To manager: details about a construction project; obstacle preventing from finishingon time; suggest how to make the next year's project more smoothly.20.To manager: detail of product delivered from New York to the Shanghai office, whattasks happed during her absence, do you think the office is running efficiently? Why or why not?21.To manager: Arrangement of a meeting; the reason why you are late for theconference; Report the progress.22.To manager: Is there any problem among the contract with the real estate company?Do you think the client is satisfied with our proposal? How do you think about the contract?REPORT1.Increasing Chinese demand on oil, copper, natural gas. Reasons for the demandgrowth for these resources？how is this demand growth affect the global market？what results will be brought out if the growth continued？2.给你2002-2004 oil, copper, natural gas的价格比例,让你分析为什么会有差异？2007年的走势如何？中国经济对于这些国际价格的影响？3.Bar chart of oil, copper, natural gas 世界价格增长百分比：价格增长的原因是什么？价格的增长会对哪些国家带来影响？对于中国有什么样的影响？4.Bar chart, 美孚, BP, Shell, Chevron T，四个石油公司的年收入。

人民币汇率与日元汇率规章制度演变历程及启示(英文版)

RMB Exchange Rate SystemA Case Study of RMB And Yen Exchange RateTed (Student No:201130451377)ABSTRACTAs we all know ,the influence of exchange rate movements on a country's economy is important. On the domestic economy, on the one hand, Exchange rate movements affect the price rise or fall, After the exchange rate changes, affect on the price of imported goods happen immediately. First is the changes in prices of consumer goods and raw materials import, and then to import raw material processing or similar domestic goods and imported goods prices have also changed After exchange rate changes, the domestic prices of export commodities are also changed. On the other hand, the exchange rate changes affect export commodities production department. Foreign currency appreciation, will make imports more expensive, so to export commodity producers, mainly imported raw materials, production costs rise, weaken its competition ability in the international market, and to give priority to with domestic raw materials exports producer favourable. Foreign currency devaluation, would make imports cheaper, so that the export commodity producers specializing in importing raw materials of lower production costs, export products also enhance its capability of international competition in the market, while at the same time is given priority to with domestic raw materials of export commodity producers can not get the benefits due to exchange rate changes. exchange rate changes also affect a country's foreign economic. The fall in the value of the currency expand their exports, to inhibit the action of the domestic import, which is likely to reverse the trade deficit, also can promote local tourism and related trade income increase. In addition, exchange rate changes affect a country's gold reserves .Reserve currencyexchange rate movements affect the real value of a country's foreign exchange reserves, reserve currency appreciation, is the real value of a country's foreign exchange reserves increase, reduce conversely. In a word, exchange rate changes has the important influence to the national economy. However, Who influence exchange rates? Of course is the exchange rate system. Since 1949, official RMB exchange rate has experienced a rate to the market, from a fixed exchange rate guide the evolution of the management of the floating exchange rate. There are three periods , they are the planned economy period, economic transition period, the socialist market economy period . We can get the experience and inspiration from the study of the yen exchange rate and exchange rate system changes.KEYWORDSThe exchange rate system , RMB exchange rate, Yen exchange rate, economy.BACKGROUND OF RMB EXCHANGE RATERMB appreciation pressure status analysis and mitigation countermeasures on July 21, 2005, the people's bank of China issued announcement: China since that day, practice on the basis of market supply and demand, "a basket of currencies, managed floating exchange rate system. This suggests that the Chinese return to management of the floating way, officially launched the reform of RMB exchange rate regime . After the international community have great expectations, revaluation of the renminbi in 2005, however, small amplitude of appreciation of the yuan far cannot satisfy the need of relevant countries, these countries to continue to put pressure on our government, still require further renminbi appreciation.EVOLUTION OF RMB EXCHANG RATE SYETEMSThe Planned Economy Period （1949-1978）On January 8, 1949, the people's bank of China began to currency exchange rates published in the sky. Under the unified management of the central, Shanghai and guangzhou used tianjin exchange rate as the standard, according to the local price situation, published their own exchange rate. RMB exchange rate of planned economy period in a longer historical period of a fixed exchange rate arrangement, has been pegged to a basket of currencies.Figure1Economic Transition Period (1979-1993)1.The imposition of trade internal settlement price and dual exchange rate system of foreign currency. In 1981-1984, official RMB exchange rate has a trade internal settlement price and non-trade dual exchange rate system of open quotation. On January 1, 1985 to cancel internal settlement price, to execute a single exchange rate, the exchange rate of 1 dollar to2.8 yuan. This is the first time that the RMB exchange rate system.2.According to the price changes inside and outside the government adjusted the official exchange rate . During 1985-1990, according to the change of domestic prices in our country, the government adjusted the exchange rate to 6 yuan for one dollar.3.The official exchange rate and currency swap market exchange rate ofRMB exchange rate regime. Since 1980, the country started to implement system of foreign exchange swap, set up a foreign exchange swap center, opened foreign exchange swap open market operations, formed the official exchange rate and regulate the market exchange rate occurring together. Since April 9, 1991, our country executed a managed floating exchange rate, at the end of 1993 to $1 to 5.8 yuan.Figure2The Socialist Market Economy Period (1994-?)1. Since January 1, 1994, official RMB exchange rate and market exchange rates get in touch, the bank written guarantee system, established a nationwide unified inter-bank foreign exchange market, based on market supply and demand will be implemented for a single exchange rates. This is the second time of connection between the RMB exchange rate system and .market rate of exchange.2. Southeast Asia financial turmoil in 1997, China made China's exchange rate form a fixed exchange rate peg to the dollar in order to maintain regional economic and financial stability, keep the RMB exchange rate strength with a attitude of powers responsible.Then the RMB exchange rate was to $1 to 8.7 yuan.On July 21, 2005, the central bank announce improving reform of the RMB exchange rate formation mechanism . Approved by the state council, since July 21, 2005, China began to implement managed floating exchange rate system that be based on market supply and demand, referencing to a basket of currencies, . The RMB exchange rate is a more flexible RMB exchangerate mechanism no longer pegged to the dollar. The RMB exchange rate is rising in 2013, and reached a new higher level with $1 to 6.10 yuan in 2013. Figure3EVOLUTION OF YEN EXCHANG RATE SYETEMSBefore 1971The yen at the fixed exchange rate stage, during this period against the yen, the dollar exchange rate to yen has remained at the fixed level of 1:360.After 1971A sudden rise in the yen, which mainly stems from Nixon crisis in August 1971 (August 15, 1971, President Nixon spoke, its purpose is to terminate the dollar with gold convertibility, end the standard of the price of $35 per ounce of gold dollar commitment. It has broken the original countries to perform for dollar to gold, currencies binding international exchange rate system, began to implement floating exchange rate system. And in December Bretton woods agreement and Smith agreement established。

hkd rmb

hkd rmbHKD RMBIntroduction:HKD RMB, also known as the Hong Kong Dollar Renminbi exchange rate, is the currency conversion rate between the Hong Kong Dollar (HKD) and the Chinese Renminbi (RMB). This exchange rate is an essential element for businesses and individuals engaging in cross-border trade and investment between Hong Kong and mainland China. In this document, we will explore the factors that influence the HKD RMB exchange rate, the implications of the exchange rate on different sectors of the economy, and the role of the exchange rate in the broader financial landscape.Factors Influencing the HKD RMB Exchange Rate:1. Monetary Policy: The monetary policy of both Hong Kong and China plays a crucial role in determining the HKD RMB exchange rate. The central banks of these two regions, the Hong Kong Monetary Authority (HKMA) and the People's Bank of China (PBOC), have the power to adjust interest rates, implement quantitative easing or tightening measures, or intervene in the foreign exchange market to influence the currency exchange rate.2. Economic Performance: The relative economic performance of Hong Kong and China also affects the HKD RMB exchange rate. Factors such as GDP growth, inflation rates, unemployment rates, and trade balances can impact investor sentiment and, subsequently, the demand and supply of both currencies.3. Political Factors: Political factors, including geopolitical tensions, regulatory changes, and government policies, can significantly impact the HKD RMB exchange rate. For instance, any developments in the relations between Hong Kong and mainland China, such as changes in trade agreements or political disputes, can lead to fluctuations in the exchange rate.Implications on Different Sectors:1. Trade and Investment: The HKD RMB exchange rate is of utmost importance for businesses engaged in cross-border trade and investment between Hong Kong and mainland China. A favorable exchange rate can stimulate exports for Hong Kong companies as their products become relatively cheaper for Chinese consumers. Conversely, a depreciating HKD RMB exchange rate can increase the cost of imports for Hong Kong and reduce the competitiveness of its exporters.2. Tourism and Hospitality: Fluctuations in the HKD RMB exchange rate also have a significant impact on the tourism and hospitality sectors. A weaker HKD compared to the RMB can attract more Chinese tourists to Hong Kong, as they can enjoy relatively cheaper prices for accommodation, shopping, and other services. In contrast, a stronger HKD can deter Chinese tourists, who may find Hong Kong relatively more expensive.3. Financial Markets: The HKD RMB exchange rate plays a crucial role in the financial markets, particularly for investors involved in currency trading. It provides opportunities for speculation, hedging, and arbitrage. Additionally, the exchange rate influences the valuation of cross-listed stocks and bonds traded on both the Hong Kong Stock Exchange and mainland Chinese exchanges.Role in the Broader Financial Landscape:The HKD RMB exchange rate is not only important for businesses and individuals engaged in transactions between Hong Kong and mainland China but also has wider implications for the regional and global financial landscape. Some key points to consider are:1. Renminbi Internationalization: The HKD RMB exchange rate reflects the level of internationalization of the Chinese Renminbi. As Hong Kong acts as a major offshore Renminbi center, the HKD RMB exchange rate provides insights into the Renminbi's acceptance and global usage as a reserve currency.2. Financial Integration: With the Stock Connect and Bond Connect programs, the HKD RMB exchange rate facilitates cross-border investments between Hong Kong and mainland China and enhances financial integration between the two regions. This integration helps deepen liquidity in financial markets and fosters economic cooperation.Conclusion:The HKD RMB exchange rate plays a pivotal role in facilitating trade, investment, and financial activities between Hong Kong and mainland China. It is influenced by various factors, including monetary policies, economic performance, and political developments. The exchange rate has important implications for different sectors of the economy, such as trade, tourism, and finance. It also reflects the level of Renminbi internationalization and supports financial integration between Hong Kong and mainland China. Understanding the dynamics of the HKD RMB exchange rateis crucial for businesses, investors, and policymakers involved in the Hong Kong-China economic relationship.。

政府工作报告汉英翻译200个经典表达

2017政府工作报告之汉英翻译经典表达序号中文英文备注1严峻挑战grave challenges重大关切graveconcern2全国各族人民the Chinese people 少数民族ethnic minorities56个民族ethnic groups中华民族the Chinese nation3推动经济社会持续健康发展drive forward sustained,healthy/sound economicand social development注意积累推动的同义替换词4根本利益fundamental interests名胜古迹places ofhistoric interest5全面建成小康社会finish building amoderately prosperoussociety in all respectsIn all respects=in allaspects6工业企业industrial enterprises7单位国内生产总值能耗Energy consumption perunit of GDP一次能源primaryenergy8再创新高reach another record high创新高hit a new/record high9高校毕业生college graduates10供给侧结构性改革supply-side structuralreform11工业产能合作industrial-capacity cooperation12个体工商户self-employed traders 13城市轨道交通设施urban rail transit facilities 14水利工程water conservancy projects15第四代移动通信用户4G mobile communicationssubscribers16市场主体market entities市场份额marketshare17光缆optical fiber cables18居民人均可支配收入Personal per capitadisposable income城镇居民人均可支配收入the per capitadisposable incomeof urban residents/urban per capitadisposable income农村居民人均纯收入the per capita netincome of ruralresidents/rural per capita netincome19棚户区rundown areas同义替换说法：shanty town20农村危房dilapidated rural houses21国内旅游domestic trips22出境旅游overseas trips 入境游inbound tourism出境游outbound tourism23调结构adjust the structure24积极的财政政策proactive fiscal policy25财政赤字fiscal deficit可与赤字率一起记忆26营改增试点the trial replacement of business tax with value added tax(VAT)27稳健的货币政策prudent monetary policy28多种货币政策工具a range of monetary policytools注意a range of的用法29实体经济real economy虚拟经济virtual economy30民间投资private investment31人民币汇率形成机制the RMB exchange rateregime32钢铁产能steel production capacity33企业兼并重组business acquisitions andreorganizations并购merger andacquisition34债转股debt-to-equity swaps 35资产负债率debt-to-asset ratio36“五险一金”缴费social security contributions37推动国有企业调整重组push ahead with reforms torestructure and reorganizestate-owned enterprises推动/推进：driveforward/pushahead with/movetoward/moveforward with/advance38混合所有制mixed ownership非公有制non-publicownership39放开养老服务市场open up the elderlyservices marketnursing home养老院40医疗器械medical equipment 41耕地轮作crop rotation42休耕fallow land43河长制the river chief system44推进“一带一路”建设push ahead with the Belt and Road Initiative45务实合作practical cooperation46特别提款权货币篮子Special Drawing Rights basket47深港通the Shenzhen-Hong Kong Stock Connect48国家自主创新示范区national innovation demonstration zones49京津冀协同发展Beijing-Tianjin-Hebei integration50加快推进新型城镇化speed up efforts topromote new types ofurbanization加快：speed upefforts to do/movefaster to do/workfaster to do51户籍制度household registrationsystem52加强生态文明建设strengthen ecologicalconservation53强化大气污染治理take stronger measures against air pollution54优化能源结构improve the energy mix注意能源结构的英文55农村贫困家庭学生students from poor ruralfamilies经济困难家庭financiallychallenged families56学杂费tuition and miscellaneousfees57普通高中regular senior high schools 58长江流域the Yangtze basin59全民健身计划the Fitness for All initiative60打击违法犯罪crack down on crime andother violations打击crack downon/fight against61周边国家neighboring countries62社会各界all sectors of society 社会各界all walks of life/all circles of society63海外侨胞Chinese nationals overseas64财政收支矛盾fiscal imbalance资产负债表balancesheets65食品药品安全food and drug safety Food security粮食安全66科学发展观the Scientific Outlook on Development67适度扩大总需求expand aggregate demandas appropriateeconomic aggregate经济总量68基础设施比较完善a complete range of infrastructure69经济基本面economic fundamentals 70赤字率deficit-to-GDP ratio71培育壮大新动能develop new growthdrivers72三四线城市third-and fourth-tier cities 一线城市first-tier cities二线城市second-tier cities73公租房public rental housing 廉租房low-rent housing经适房affordable housing限价房capped-price housing定向安置房orientation placement housing74储蓄率savings rates75严重制约经济社会发展hold back economic and social development76实施精准扶贫implement targeted poverty reduction77扶贫poverty alleviation /reduction78革命老区old revolutionary bases注意形容词的排列顺序79提高资源配置效率make resource allocationmore effectiveMake sth+形容词的比较级80非公有制经济the non-public sector81药品加成markups on pharmaceuticals82事业单位public institutions社会事业socialprograms83全域旅游all-for-one tourism84大力发展乡村旅游make a big push to developrural tourism大力：make a bigpush to do/endeavor to do/make big moves todo/make majorefforts to do/workhard to do85实体店销售physical store sales实体店：brick andmortar shop86假冒伪劣产品counterfeit and substandard goods87虚假广告false advertising 88价格欺诈price fraud 89民用航空civil aviation90深化政府和社会资本合作promote public-private partnerships91开发区development zones 92产业园区industrial parks 93资源枯竭resource depletion94生态严重退化severe ecological degradation95加快建设海洋强国move faster to developChina into a strongmaritime country贸易强国：trading power96海绵城市sponge cities97推动实体经济优化结构upgrade the structure ofthe real economy出口结构exportmix98人才引进政策policies for bringing intalent from overseas引进：bring in sth99战略性新兴产业strategic emerging industries100分享经济the sharing economy共享单车：bike-sharing101提高社会资源利用效率enable greater efficiency in the use of resources102手机国内长途和漫游费mobile rates for domestic roaming and long-distancecalls103国际长途电话费rates for international calls104大力改造提升传统产业endeavor to transform and upgrade traditionalindustries105物联网the Internet of Things106新业态new forms of business新常态new normal107推动中国制造向中高端迈进moving toward mid-and high-end manufacturing108推进大众创业、万众创新encourage people to start businesses and makeinnovations109质量之魂，存于匠心Quality is born of workmanship110大力弘扬工匠精神promote workmanship111享誉世界enjoy international recognition112保障国家粮食安全ensure China’s foodsecurity113优质绿色农产品quality green agriculturalproducts114一二三产业primary,secondary,andtertiary industries注意英文说法，一二三并不是first,second和third115推进土地整治improve rural land116大力改造中低产田upgrade low-andmedium-yield cropland大力并未译出117高效节水灌溉highly water-efficientirrigationHighly意思是十分、非常118供销社supply and marketing cooperatives119退役军人demobilized militarypersonnel120国际产能合作international industrial-capacity cooperation121大力优化外商投资环境make big moves toimprove the environmentfor foreign investors注意环境前要加定冠词the122防范风险hedge against risks123国际贸易和投资自由化便利化the liberalization and facilitation of international trade and investment124公平竞争fair competition125标本兼治tackle both symptoms androot causes126推进北方地区冬季清洁取暖promote clean winter heating in the northernregion127燃煤小锅炉small coal-fired furnaces128优先保障可再生能源发电上网prioritize the integration of renewable energy sourcesinto the electric grid129加快秸秆资源化利用accelerate straw recycling130淘汰黄标车all higher-emission vehicles are scrapped131加快淘汰老旧机动车work faster to take old vehicles off the roads132国六标准燃油fuels that meet National-VI emission standards133治理雾霾人人有责Tackling smog is down toevery last one of us注意句型仿写134化学需氧量chemical oxygen demand135氨氮排放量ammonia nitrogen emissions136重点流域区域key drainage basins137农业面源污染agricultural pollution fromnon-point sources正说反译138普遍推行垃圾分类制度promote waste sorting139培育壮大节能环保产业strengthen energyconservation and environmental protectionindustries140推进生态保护和建设move forward withecological conservationand improvement注意生态建设的英文说法141完成退耕还林还草turn more than...hectares of marginal farmland into forests or grassland142大力促进就业创业strive to boost employmentand business startupsStrive to=endeavorto143加大就业培训力度strengthen employmenttraining加大投资力度：investmore144办好公平优质教育work to ensure that our people have access to equitable and quality education145常住人口permanent urban residents146持续改善薄弱学校办学条件improve conditions in badly built and poorly operated schools147国家拨款government grants 148世界一流大学world-class universities149高考制度the college entrance examination system150加强民族教育ensure ethnic minoritiesimprove their education民族教育指的是少数民族教育151老年教育education for senior citizens152加强教师队伍建设work to improve teacherperformanceEconomicperformance经济运行153继续教育continuing education154推进健康中国建设make continued progress in building a Healthy China155每年per annum156民族医药事业ethnic minority medicine157构建和谐医患关系interactions between doctor and patient are amicable158食品药品安全事关人民健康The safety of food and medicine is important to the health of our people159发展文化事业和文化产业develop cultural programsand industries注意文化事业的说法160加强社会主义精神文明建设foster stronger observance of socialist cultural and ethical standards161加强文物和非物质文化遗产保护利用China’s cultural relics and intangible cultural heritage receive effective protection and play fuller roles162大力推动全民阅读foster a love of reading in our people163提高基本公共文化服务均等化水平make basic public cultural services more equitable164推动中国文化走出去support efforts to share Chinese culture with other countries165推动社会治理创新explore new forms of socialgovernance创新做动词时，还可译为develop newways to do sth166工会trade unions167加快社会信用体系建设move faster to improve the social credit system168加强法治宣传教育heighten public awareness of rule of law169人命关天，安全至上ensure workplace safetyand protect people’s lives安全生产workplacesafety170道德行为ethical conduct 171道德诚信moral integrity172加大对民族地区发展支持力度increase support fordevelopment in areasinhabited mainly by ethnicminorities加大支持力度：increase support forsth173保护和发展少数民族优秀传统文化protect and develop thefine traditional cultures ofethnic minorities注意优秀传统的英文是fine tradition174中华民族the Chinese nation175海内外中华儿女all the sons and daughters of the Chinese nation,both in and outside China176领土完整territorial integrity177世界政治经济格局international political andeconomic landscape注意格局的翻译，natural landscape意思是自然景观178坚定不移走和平发展道路keep to the path ofpeaceful developmentKeep to sth意思是坚持179维护国际秩序uphold the international order180打造人类命运共同体build a community of shared future for all humankind181解决全球性和地区热点问题addressing global andregional hotspot issues注意这里的问题不可译为problems182互信mutual trust 183推进民主advance democracy184深化平安中国建设continue to pursue the Peaceful China initiative185合法权益legitimate rights and interests186依法推进公益和慈善事业健康发展encourage sound and law-based public-interest activities and charity187共青团Communist Youth League organizations188城镇户口urban household registration189扩大优质教育资源覆盖面expand the reach of quality educational resources190缩小差距narrow the gap between Aand B191优先保障和改善民生prioritize efforts to ensureand improve the wellbeingof our people优先：prioritize sth/prioritize efforts todo192大力发展绿色金融make major efforts to develop green finance193发行债券issue bonds194实现优势互补draw on each other’s strengths195农村人居环境rural living environments196国有林区林场state forestry areas andfarms注意国有的翻译197打造粮食生产功能区create functional zones for grain production198城市群city clusters 199不良资产non-performing assets 200债券违约bond defaults。

3 currency interest rate and exchange rate

Aggregate Money Demand
Md = L1(Y) + L2(R) The aggregate demand for money can be expressed by: Md = P x L(R,Y) (14-1)
where: P is the price level（价格） Y is real national income（实际国民收入） L(R,Y) is the aggregate real money demand （实际货币需求）
The money supply and the exchange rate in the long run （货币供给与汇率的长期分析）
Learning Goals
Show how monetary policy and interest rates feed into foreign exchange market 解释货币政策与利率怎样影响外汇市场 Explain how price levels and exchange rates respond to monetary factors in the long run解释长期情况下，价格水平与汇率如何对货币因素作出反应 Outline the relationship between the short run and long run effects of monetary policy and explain the concept of short run exchange rate overshooting 解释货币政策的短期影响和长期影响间的关系，解释短期汇率超调现象
The effect of increasing the money supply at a given price level is illustrated in Figure 14-4.

外贸企业如何规避汇率风险

2012年第4期总第214期Foreign Economic Relations ＆Trade【经贸实务】外贸企业如何规避汇率风险刘书博(东北财经大学，辽宁大连116052)［摘要］自2005年7月我国开始进行汇率制度改革，人民币汇率波动愈加剧烈，已累计升值30%。

汇率制度的变革给外贸企业带来深远影响，它关系外贸企业的经济收益和未来前景，因此作为企业的管理者必须转变观念，认真研究和学习相关专业知识，提高对外汇风险的重视程度，采用有效的外汇风险管理模式，降低风险以提高企业经济效益。

［关键词］外贸企业;汇率风险;金融工具;风险防范［中图分类号］F279.23［文献标识码］A ［文章编号］2095－3283(2012)04－0091－02作者简介:刘书博(1982－)，女，东北财经大学2010级金融学专业中职研究生，助教，研究方向:金融学。

一、外汇风险的基本概念外汇风险(Foreign Exchange Exposure )又称汇率风险，是指汇率波动对外汇持有者或外汇经营者在国际经济、贸易和金融等活动中以外币计价的资产与负债获得收益或者遭受损失的风险。

外汇风险包括三个基本要素，即本币、外币和时间。

判断企业是否面临外汇风险，必须考虑这三个要素，缺一不可。

二、外汇风险的分类根据汇率风险的作用、目标及表现形式，外汇风险可分为:交易风险、经济风险和会计风险。

(一)交易风险交易风险最为普遍，是经济主体在其以外币计值结算的国际经济交易中，从合同签订之日到其债务得到清偿这段时间内，因该种外币与本币间的汇率变动而导致的该项交易的本币价值发生变动的风险。

交易风险是一种流量风险，会直接影响到企业的经营状况及现金运转情况。

交易风险持续时间较长，贯穿于企业签订合同到最终实际结算的始终。

交易风险的管理目标是确保企业在最终结算货款时，因汇率变动将企业遭受的损失降到最低。

企业经营过程中只要涉及到使用外币收款或者结算，就可能出现交易风险。

汇率制度与外汇管制

第章汇率制度与外汇管制Exchange Rate Regime and Foreign Exchange Control 比拟固定汇率制度和浮动汇率制度的利弊；熟悉现行人民币汇率制度一、汇率制度〔exchange rate regime 或Exchange rate system or exchange rate arrangement〕〔一〕概念：指一国货币管应当局对本国汇率变更的根本方式〔包括对汇率水平、变更幅度等〕所做的一系列安排或规定。

内容包括：汇率的决定根底、变更幅度、调节方式、协调管理机构。

〔二〕汇率制度的类型按变更幅度划分〔传统分类〕一、固定汇率制：指现实汇率受平价的制约，并围绕平价在很小的范围内上下波动的汇率制度。

金本位制度下的固定汇率制〔1880-1914年〕；布雷顿丛林体系下的固定汇率制〔1944-1973年〕■两种固定汇率制度的比拟一样点：1. 各国货币规定有含金量，中心汇率由金平价肯定；2. 汇率水平相对稳定，围绕中心汇率小幅波动不同点：不同点金本位制布雷顿森林体系形成机制不同自发形成通过国际间协调人为建立稳定程度不同金平价不会变动，汇率保持真正稳定金平价可调整，BOP根本性失衡时，IMF予以调整调节机制不同自动调节通过外汇市场干预二、浮动汇率制：汇率水平完全由市场供求决定、政府不加任何干与的汇率制度。

单独浮动和联合浮动Free floating和managed floating；clean floating and dirty floating■固定汇率制和浮动汇率制比拟的要点：实现内外均衡的自动调节效率问题；实现内外均衡的政策利益问题；对国际关系的影响固定汇率制：长处：1.利于国际贸易和国际投资活动的开展；2.利于国际合作和各国政策的协调缺点：1.不能自动调节国际收支； 2.无益于国内经济平衡开展，BOP的均衡是以捐躯国内经济为代价；3.易使通货膨胀在国际间传递；4.易受国际游资的冲击浮动汇率制长处：1. 可维持本国货币政策的独立性，阻止通胀跨国传播2. 调节国际收支；3. 减少外汇储藏的需要缺点：1.无益于国际贸易和国际投资活动的开展； 2.助长国际投机活动，加重国际金融市场的骚乱3.无益于国际合作和各国政策的协调■固定汇率制与浮动汇率制的好坏比拟固定汇率制浮动汇率制优点1.消除汇率风险，有利于国际贸易和国际投资2.为汇率预测提供“名义锚〞，外汇投机带有稳定性特征3.作为外部约束，可防止不当竞争对世界经济的危害4.有利于抑制国内通货膨胀，使货币政策摆脱政治压力1.汇率自发性地持续微调，反映国际交往真实情况2.外部均衡可自动实现，不引起国内经济波动3.阻止通货膨胀跨国传播，保持本国货币政策自主性4.自动调节短期资金移动，防范投机冲击缺点1.汇率变动更加难以预测2.货币政策丧失独立性，可能损害国家金融平安3.容易输入国外通货膨胀，出现内外均衡冲突1.增大不确定性和外汇风险危害2.外汇市场动乱，引致资金频繁移动和投机，造成汇率更大波动3.容易滥用汇率政策，引起宏观经济政策冲突按是不是钉住某一货币和波动幅度划分钉住汇率制和弹性汇率制IMF的划分1. 无独立法定货币的汇率制；2. 货币局制；3.传统的固定钉住汇率制；4. 水平波幅内钉住汇率制；5. 爬行钉住；6.爬行波幅内钉住；7. 无事前宣布路径的管理浮动汇率制；8. 独立浮动什么是名义锚normal anchor？指交易者心理上存在的一种预期，这种预期之所以成为名义锚，是因为交易者自己有必然的心理经受能力，在这心理经受能力的范围内，交易者不会改变自己的行为；当经济条件超过这个经受能力时，交易者就会改变自己的行为方式。

中国驻英国大使刘晓明在诺丁汉大学英语演讲稿

中国驻英国大使刘晓明在诺丁汉大学英语演讲稿戴维·格林纳威校长，老师和同学们，女士们，先生们：Professor David Greenaway, Vice-Chancellor of the University of Nottingham,Faculty members and students,Ladies and Gentlemen,很高兴首次来到诺丁汉市和诺丁汉大学访问。

诺丁汉大学被誉为英国环境最优美的大学之一，我刚才走入校园，确实感觉风景如画。

I am delighted to be on my first visit to the City of Nottingham and your picturesque university, which lives up to its reputation as one of the most beautiful campuses in the UK.最近英国和中国正同时热映一部电影——《罗宾汉》，据说，这位劫富济贫的绿林好汉当年就活跃在诺丁汉郊外的舍伍德森林里。

许多中国观众都被电影中的旖旎自然风光和浓郁英伦文化所陶醉。

我想，你们听了这个消息会很高兴，因为来英国的中国游客数量又要增加了，来诺丁汉大学读书的中国学生也会更多了。

The recent film Robin Hood has been a big hit with audiences both in China and here in the UK. The story as I am sure youknow, is about a man who robbed from the rich to give to the poor, while living in Sherwood Forest on the outskirts of Nottingham. But it has been as much about the stunning natural beauty and rich British culture depicted in the film, which has fascinated a lot of Chinese viewers. I believe this is great news for you, as Nottingham should expect to receive more visitors from China, and University of Nottingham will be home to more Chinese Students.创建于1881年的诺丁汉大学，是英国排名前十的高等学府。

人民币汇率变动和汇率市场化改革_陆前进

摘要：本文主要研究人民币汇率变动和汇率市场化改革，包括人民币对美元汇率的变动、人民币对非美元货币汇率的变动、人民币有效汇率波动和汇率的市场化改革。

本文首先比较了人民币升值、贬值和维稳的影响，指出在国际金融危机时期，人民币应该保持相对稳定。

同时本文从三角套汇的角度分析了人民币对美元和人民币对非美元货币汇率之间的关系，考察人民币对国际主要非美元货币汇率和人民币有效汇率的变动特点。

最后本文考察人民币汇率形成机制改革和完善，提出了建立参考“一篮子”货币汇率制度和我国汇率市场化改革的具体措施。

关键词：人民币汇率；美元；非美元货币；汇率市场化中图分类号：F830.92文献标识码：A 文章编号：1006－1428（2009）10-0068-05Abstract:RMB Exchange rate is always the focus of government and market.The paper primarily studies themovement and the liberalization reform of RMB exchange rate,including the movement of RMB against US Dollar and against non-US Dollar,effective RMB exchange rate and the liberalization reform.The paper concludes RMB exchange rate against US Dollar should be kept stable during the financial crisis.Meanwhile,the paper analyzes the relationship of RMB exchange rate against US Dollar and non-US Dollar from the view of triangular arbitrage,and explores the features of RMB movement against main non-Dollar currencies and of effective RMB exchange rate.Fi -nally the paper examines the reform and perfection of RMB exchange rate forming mechanism,and puts forward spe -cific measures of establishing RMB exchange rate regime.Key words:RMB Exchange Rate;US Dollar;Non-US Dollar;Exchange Rate Liberalization*本文得到国家自然科学基金（70673011）、上海市哲学社会科学规划课题（2008BJB024）和复旦大学中国经济国际竞争力创新基地国际金融方向子课题的资助。

人民币汇率变动对我国农业经济的影响

人民币汇率变动对我国农业经济的影响摘要汇率，作为一国经济的重要指标，自我国的汇率制度改革后，得到越来越多学者的关注。

尤其我国加入世界WTO以来，我国市场的不断扩大，国际影响力的不断增加，融入国际市场的范围更加广泛，人民币的市场影响度也更加受到关注。

因此，近几年国内学者在汇率波动对经济增长问题上的研究成果丰富。

相比而言，我国作为一个传统型的农业大国，探讨人民币对农业经济的影响也十分必要和关键。

本文以人民币汇率和农业经济基本概念及发展的历程，以及人民币发展的趋势为基础，探讨人民币汇率变动对我国农业经济的影响。

关键词：人民币汇率；农业经济；影响The RMB exchange rate change on the influence of the agricultural economy in our countryABSTRACTThe exchange rate，as an important index of a country's economy，since China's exchange rate regime reform，get more and more attention from scholars. Especially since China's accession to the WTO，the expansion of the market in our country，an increasing number of international influence，into the international market，the broader the market effect is also more attention. Therefore，in recent years，domestic scholars on the question of exchange rate volatility on economic growth of abundant research results. ，by contrast，as a traditional agricultural country in our country，discusses the influence on agricultural economy is also very necessary and critical. In this paper，the RMB exchange rate and the basic concept and history of the development of agricultural economy，as well as the development trend of the yuan as the foundation，to explore the influence of the RMB exchange rate changes on Chinese agricultural economy.Key words: the RMB exchange rate; The agricultural economy; impact目录引言61 人民币汇率变动71.1人民币汇率制度的演变71.2人民币汇率趋势分析82 我国农业经济的概念及其范围92.1农业生产现状与特征102.2农产品贸易现状与特征103 人民币升值对我国农业经济的影响献：理论分析123.1短期影响123.2长期影响134 人民币汇率的变化对进出口贸易的影响134.1汇率变动通过进出口途径影响经济增长144.2汇率变动通过外商投资途径影响经济增长144.3汇率变动通过其他途径影响经济增长145 汇率变动影响农业产业结构调整的机理分析15结论16参考文献17引言我国已进入改革的攻坚期，加快经济增长方式由粗放型向集约型转变是经济领域的一场深刻变革。

人民币汇率制度

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2、”人民币升值“论中大量热币涌入中国
种种迹象表明，从2003年以来国际游资大量涌入中国。迹象一：2003年上半年，中国外贸顺差 45亿美元，实际利用外资303亿美元，但外汇储备却增加了601亿美元，净误差与遗漏+300 多亿美元。事实上从2002年第4季度以来，外汇储备增长速度过快，与出口与利用外资不相配。
即日升值2.1%，即1美元兑8.1100元人民币。
（2）改革的目标改革的总体目标是，建立健全以市场供求为基础的、有管理的浮动汇率体制，保持人民币汇率在合理、均衡水平上的基本稳定。
（3）改革的原则主动性可控性渐进性
（4）改革的特点一是人民币汇率不再钉住单一美元，而是选择若干种主要货币，组成一个篮子货币；二是参考一篮子货币计算人民币多边汇率指数。
升值与否成为全球热门话题。
2005年的基本情况： 1、国际社会继续关注人民币汇率； 2、由于中国出口到美国的纺织品不断增加，中美贸易摩擦和人民币汇率摩擦更加突出； 3、人民币升值的传闻和言论已经相当普遍； 4、媒体舆论已经不仅仅是让人民币升值，而是 “什么时候升”“如何升”“幅度多大”问题；
中国政府态度：一次次否认人民币升值的传闻，称改革有自己的逻辑；美国施压不利于改革；汇改有利于增强国内外投资者的信心，对资本市场是一件好事；调整意向毋庸置疑，但时机与细节尚无确定。
人民币汇率制度
一、人民币汇率制度的历史沿革二、人民币汇率制度的改革(1980~2005年) △三、目前人民币汇率制度的改革四、“人民币升值”论介绍及简评
一、Change of RMB Exchange Rate Regime 人民币货币制度的历史演变
1. 1949~1952年。人民币汇率频繁调整时期。 2. 1953~1973年。人民币汇率相对稳定时期。

双重汇率制度

双重汇率制度篇一：人民币汇率制度的演变案例三十一：人民币汇率制度的演变1949年至今，人民币汇率经历了有官定汇率到市场决定，从固定汇率导游管理的浮动汇率的演变。

计划经济时期的人民币汇制度（1949-1978年）1949年1月8日，中国人民银行开始在天际公布人民币汇率。

以后，上海、广州在中央统一管理下以天津汇率为标准，根据当地物价状况，公布各自的汇率。

计划经济时期人民币汇率在一个较长的历史时期内实行固定汇率安排，一直钉住一揽子货币。

2、转轨经济时期的人民币汇率制度（1979-1993年）（1）实行贸易内部结算价和对外公布汇率的双重汇率制度。

1981年-1984年间，人民币官方汇率实行了贸易内部结算价和非贸易公开牌价的双重汇率制度。

1985年1月1日取消内部结算价，重新实行单一汇率，汇率为1美元折合2.8元人民币。

这是人民币汇率的第一次并轨。

（2）根据内外物价变化调整官方汇率。

1985-1990年期间，我国根据国内物价的变化，多次调整汇率至1990年11月17日的1美元折合5.22人民币。

（3）实行官方汇率和外汇调剂市场汇率并存的汇率制度。

1980年起全国各地开始陆续实行外汇调剂制度，设立外汇调剂中心，开办外汇调剂公开市场业务，形成了官方汇率和调剂市场汇率并存的局面。

从1991年4月9日起我国实行汇率有管理的浮动，1993年底调至1美元折合5.8元人民币。

3、社会主义市场经济时期的人民币汇率制度（1994年-至今）（1）自1994年1月1日，人民币官方汇率与（外汇调剂）市场汇率并轨，实行银行结售汇制，建立全国统一的银行间外汇市场，实行以市场供求为基础的单一汇率。

这是人民币汇率的第二次并轨。

（2）1997年东南亚爆发金融风暴，中国为维护地区经济与金融稳定，以大国负责任的姿态，保持人民币汇率坚挺，从而也使中国的汇率实质上形成钉住美元的固定汇率，人民币汇率至1美元折合8.7 元人民币。

（3）2005年7月21日央行发布公告完善人民币汇率形成机制改革。

翻译练习5及参考译文

中译英人民币汇率改革近两年来，关于人民币汇率改革的问题一直是国内外广泛关注的焦点。

从1994年至今，我国对外汇管理体制进行了重大改革，在实现了经常项目下的完全可兑换后，人民币汇率实行了名义上的有管理的浮动汇率制度，多年来始终保持在8.27水平左右。

由于近几年来我国经济持续高速发展，外贸顺差不断扩大，外汇储备急剧增加，人们越来越认识到，有必要实行更加灵活的调控机制。

7月21日，央行宣布开始实行以市场供求为基础、参考一篮子货币进行调节、有管理的浮动汇率制度。

央行宣布的人民币汇率改革主要有三方面内容：一是汇率由1美元兑8.28元调整到8.11元，升幅为2%；二是人民币与美元脱钩，汇率参照一篮子货币制定；三是在前一交易日收盘价基础上，人民币汇率每天波幅在0.3%以内。

8月9日，央行宣布改革银行间外汇市场，为非银行金融机构和非金融企业进入该市场开了“绿灯”，同时首次引入询价这种更为市场化的交易方式，首次允许在该市场内开展远期外汇交易和掉期交易。

这意味着，央行正致力于逐步推进人民币汇率的市场化。

中译英Reform of RMB Exchange Rate作者：geoffhanThe reform of RMB exchange rate has held the limelight in the last couple of years both in China and globally. Since 1994, major reforms have been carried out on China’s foreign exchange management system. Following the implementation of convertibility under current accounts, a nominally managed floating exchange rate regime has been put into place, with the RMB exchange rate constantly kept at about 8.27 for years. Thanks to the sustained rapid economic growth in recent years, China’s trade surplus has been increasing and the foreign exchange reserve has been growing by leaps and bounds. People have come to realize that it is necessary to adopt a more flexible regulatory mechanism.On July 21, the central bank announced the implementation of a managed floating exchange rate regime based on market supply and demand and in reference to a basket of currencies, which includes the following three major contents: First, the exchange rate of RMB against US dollars is adjusted from 8.28 to 8.11, an increase of 2%. Second, RMB is no longer pegged to US dollars, and the exchange rate is determined in reference to a basket of currencies. Third, based on the closing price of the previous working day, the RMB exchange rate is allowed to float within a band of 0.3%.On August 9, the central bank announced the reform of inter-bank foreign exchange market, giving “green light” to non-bank financial institutions and non-financial enterprises to enter into this market. Meanwhile for the first time a more market-oriented quoting system is introduced tothe foreign exchange market, and forward foreign exchange transaction and swap transaction are allowed in this market. These indicate that the central bank is devoted to push forward a market-oriented of RMB exchange rate step by step.参考译文中译英The Reform of RMB Exchange Rate RegimeOver the past two years, China’s reform of RMB exchange rate has been attracting widespread attention both at home and abroad. Since 1994 till present time, China has undergone dramatic transformations in foreign exchange management system. With its establishment of convertibility for current account, China had for years kept a nominal managed floating exchange rate regime, keeping its currency pegged around 8.27 to the dollar. In recent years, however, China has maintained a rapid and sustainable development of its economy, thereby registering a steady rise in trade surplus and a considerable increase in foreign exchange reserves. As a result, people are becoming increasingly aware of the need to adopt a more flexible mechanism for the control of RMB exchange rate.On July 21, the People’s Bank of China (PBOC) announced its adoption of a managed floating exchange rate regime based on market condition with reference to a basket of currencies. The PBOC reform program consists of three aspects: 1) changing the official USD/RMB exchange rate to 8.11 from 8.28 ---- a 2% strengthening of the RMB against the dollar; 2) scrapping the yuan peg against the US dollar, and determining the RMB rate by referring to a basket of currencies; 3) allowing the RMB rate to fluctuate in a 0.3% band based on the previous day's closing exchange rate.On August 9, PBOC announced a reform in the inter-bank foreign exchange market, giving the green light to non-bank financial institutions and non-financial enterprises for their entrance into the market. Meanwhile, the initiation of a market-based “enquiry transaction” allows for the first time dealings in forward exchange transaction and swap transaction in the market. All of this suggests that PBOC is now making constant efforts in pushing forward the marketization of the RMB exchange rate.（陈小全）专家点评中译英翻译是一个学习和研究的过程本次擂台赛原文节选自2005年9月26日发表于《新闻晨报》的一篇题为《外汇理财空间更大投资建议》的文章（节选后略有改动），作者是工行上海分行的许君洁。

关于人民币汇率的毕业论文

学校代码：10327学号：2023907203南京财经大学本科毕业论文中文题目：人民币汇率制度的形成及现阶段效果分析英文题目：The Analysis on The Formation of RMB ExchangeRegime and Its Effect at The Present Stage所在院系：金融学院专业班级：金融工程072班学生姓名：陈珊珊指导教师：刘勤完成时间： 2011年6月作者声明本人声明所呈交的毕业论文是我个人在导师指导下进行的研究工作及取得的研究成果。

尽我所知，除了文中特别加以标注和致谢中所罗列的内容以外，论文中不包含其他人已经发表或撰写过的研究成果；与我一同工作的同志对本研究所做的任何贡献均已在论文中做了明确的说明并表示了谢意。

毕业论文与资料若有不实之处，本人承担一切相关责任。

本人签名：日期：目录摘要：自从1994年我国实行浮动汇率制度以来，人民币汇率再度成为理论界和实务界聚焦的热点问题之一。

本文第一部分回顾了人民币汇率制度的发展历程；第二部分分析人民币汇率制度在现阶段产生的效果—导致人民币汇率呈现出“对外升值，对内贬值”的新特征，然后探究了这一特征形成的原因，并指出这一现象出现的根源是内部失衡和外部失衡的并存；第三部分提出了人民币汇率改革的一些建议：首先，应当适当放松对进口的限制以降低储蓄率；第二，继续推动内需的同时防止经济过热；第三，以“走出去”战略，消化巨额外汇储备。

(1)一、引言 (2)二、文献综述 (3)三、人民币汇率制度的形成 (4)（一）改革开放前人民币汇率发展历程 (4)（二）改革开放后人民币汇率发展历程 (5)改革开放后的汇率制度发展也可大致分为三个阶段。

(5)四、人民币汇率制度的效果分析 (6)（一）人民币汇率呈现对外升值，对内贬值新特征 (6)（二）人民币对外升值，对内贬值原因探究 (7)（三）人民币对外升值、对内贬值面临的风险 (11)五、人民币汇率制度改革建议 (11)参考文献 (14)人民币汇率制度的形成及现阶段效果分析摘要：自从1994年我国实行浮动汇率制度以来，人民币汇率再度成为理论界和实务界聚焦的热点问题之一。