人民币汇率升值对我国外贸的影响分析__外文文献.docx
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人民币汇率升值对我国外贸的影响分析__外文文献.docx
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外文资料译文
论文题目人民币汇率升值对我国外贸的影响分析
专 业 国际经济与贸易
班 级
姓 名
学 号
指导教师 职称
2012年1月3日
The impact of RMB exchange rate appreciation
to our economy and the foreign trade
This paper analyzes the causes of RMB exchange rate appreciation,expounds the beneficial effects,adverse effects on our coun-try's economic and foreign trade,and puts for-ward the countermeasures to the effects.
Present situation of Chinese foreign trade surplus continues to expand,which is caused by a variety of reasons.The appreciation of RMB exchange rate on China's economy,foreign trade import and export volume and structure have a series of effects,only to take positive and effective measures to make the economy of our country and export enterprises to obtain the sustainable and stable development.
1.reasons for the appreciation of the RMB exchange rate 1.1Chinese and foreign interest rate difference
Interest rate policy is an important tool of monetary policy.The rate of relative height will affect the capital flow direction is one of the important ways,high interest rates will stimulate the international capital inflow,and reduce its outflow of funds.Thus affecting the scale of international trade,make the difference of interest rate on exchange rate influence the trend of continuous improvement.1.2Money supply situation
RMB exchange rate and China's money supply substantially positive correlation,due to the deepening of reform and opening up,foreign investors can not only make use of cheap Chinese labour,more optimistic about China's huge domestic market.Therefore,foreign investment increased substantially.Due to tightening of monetary policy,the RMB fund is quite nervous,the entry of foreign capital and foreign exchange,so appeared apparent oversupply,resulting in the trend of Renminbi rmb.
1.3International balance of payments and foreign exchange reserve The formation of foreign exchange market and the international trade and investment is not divided,international balance of payment is a country's foreign economic activities of the various payment sum.Under floating exchange rates,the market supply and demand to determine the exchange rate changes,therefore international payments deficit will lead to the devaluation of the currency,the foreign currency appreciation,namely the exchange rate rise.Conversely,international payments surplus caused a decline in foreign exchange rates.
1.4Economic growth
A country's economic take-off stage,due to the low level of productivity,economic development performance for the extensive mode of operation,and thus their own currency exchange rate decreased,i.e..A country's economy is relatively mature stage,consumer demand as income and growth,but the growth that consumes demand to catch the output supply growth,so in the period of rapid economic growth,supply relative consumption demand,so as to have a downward pressure on prices.
2.The exchange rate of RMB appreciation on China's economy and foreign trade favourable effects
2.1Be helpful for Chinese enterprises to"go out"
The appreciation of the renminbi means that Chinese enterprises to invest abroad cost relatively drops than before,which makes them to lower the cost of the establishment of multinational companies.So it is beneficial to the Chinese enterprises to"go out",to create a truly international competitiveness of Chinese transnational corporation.2.2Will help improve trade conditions
The appreciation of the renminbi,export prices higher,you can use less export products in return for their own needs a variety of products.Export profit increases ceaselessly,can improve our terms of trade.
2.3Conducive to reduce external debt debt service pressure The rise in the renminbi exchange rate,outstanding debt servicing required the amount of local currency is correspondingly reduced,to a certain extent so as to reduce the burden of external debt.2.4Conducive to promoting the transformation of foreign trade growth mode
The appreciation of the renminbi has contributed to China's foreign trade growth mode from extensive original shift quality and cost-effective intensive,this will bring the improvement of export structure,encourage technological innovation,sustainable development.
2.5Conducive to lower import costs
After revaluation,the price of imported goods will have the same magnitude of decline,reducing our cost of imports and import fees paid.The appreciation of the renminbi will make large transaction costs of imports,so as to improve the profit situation of related industries,to economy construction is very favorable.2.6Be helpful for improving the environment of attracting foreign investment
The appreciation of the RMB exchange rate,can make have foreign-funded enterprises in China increased profits,so as to enhance the confidence of inves
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