Rmb Exchange Rate Regime Choice

Exchange rate system is the system that can help the monetary administration of a country to determine the exchange rate and the way the exchange rate changes. The two basic exchange rate systems are the floating exchange rate system and the fixed exchange rate system. Since the collapse of the Bretton Woods system, all of the countries have the freedom to choose the exchange rate system, thus the exchange rate regime has entered into a diversification era. However, whether the developed countries or the developing countries, would rather choose the exchange rate system with more flexibility eventually, which is a historical trend of the development of global exchange rate system.Recently the theories of the determination of exchange rate regime are including: the economic structure system, the cost-benefit theory and the policy preference theory. Based on the study of the reform of the emerging economies country's exchange rate system and the supporting policies, we can carefully find out some useful experience and lessons for China's exchange rate system reform proposals.This paper consists of five chapters: The first two chapters introduce the theory of the determination of exchange rate for emerging economy countries (regions); The third chapter focuses on the majority of the world's emerging economies country's exchange rate reform process; The forth chapter introduces the history of China's exchange rate reform and analyze the recent exchange rate system; The fifth chapter studies the supporting policy for exchange rate system..