人民币汇率形成机制的法律问题分析-analysis on legal issues of rmb exchange rate formation mechanism.docxVIP

AbstractWith the accelerated progress of RMB exchange rate marketization in China, symbolized by the reformation of RMB rate- forming mechanism in July, 2005, RMB exchange rate transit to floating exchange rate regime. RMB exchange rate is facing enormous challenge against the background of rising trade volume over the years and expanding foreign exchange holdings by year. At present, the issue of RMB exchange rate becomes the much-talked-about topic in Sino-American economic and trade relations as well as in international society. The critics on the exchange rate in our country from developed countries with the United States as the majority mainly focused on below two points: it criticizes firstly that RMB exchange rate violated currency manipulation per IMF agreement and incurred global instability; secondly, it accuses that the undervalued Chinas exchange rate violates WTO “countervailing agreement” and other relevant international obligations. Thus, this thesis mainly centers on above two concerns, justifying the reason why Chinese RMB exchange rate system complies wit h relevant international rules step-by-step, and also raises the countermeasures of how to perfecting the RMB rate-forming mechanism in the changing economic situation.Except introduction part, this thesis mainly divides into five parts: the introduction of exchange rate forming from the layer of domestic and international law in the first part, the second part is to demonstrate the complexity and tough process of reformation on exchange rate- forming mechanism in transition. The third and the fourth part mainly are reasoning from internal law that Chinas exchange rate formation mechanism is in consistent with international law. Based on the summary of problems in present rate- forming mechanism, in the last part, the author is trying to make out a way of how to perfect the exchange rate-forming mechanism further in future.Key words: RMB exchange rate;currency manipulation; Subsidies;lega