Foreign Exchange Market

Sun Guofeng

Chapter Chapter 3 in Financial Reforms in Modern China, 2015, pp 133-175 from Palgrave Macmillan

Abstract: Abstract In 1994, China decided to undertake fundamental reform in its foreign exchange management system to unify the dual exchange rates, adopt the managed floating exchange rate regime of RMB, implement the compulsory settlement system of foreign exchange, and establish an interbank foreign exchange market. At the same time, China’s central bank started its foreign exchange open market operations and has achieved some initial success.

Keywords: Exchange Rate; Central Bank; Foreign Exchange; Federal Reserve; Capital Inflow (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-50444-9_4

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DOI: 10.1057/9781137504449_4

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