China 's Capital Account Opening, Exchange Rate Market, Interest Rate Market - Oriented Coordination To Promote Research

The effective order of the three main aspects of financial market reforms: capitalaccount liberalization, market-oriented exchange rate and interest rate liberalizationhas been a hot research field. Also, our government gave comments on deeper reformsof the major issues in the reform of China’s financial markets and a higherrequirement on the goal of internationalization of the RMB. In this paper, anthorreviews plenty of researches in relative fields, at the perspective of the coordination ofpromoting China’s capital account liberalization, market-oriented exchange rate andinterest rate liberalization, giving individual opinion on how to deal with therelationship between the three aspects with deep theoretical analysis. Besides, theauthor has given clear macro-guidance and specific measures. Taken consideration ofthe potential risks allying with the coordinative promotion, the author made relevantproposals at the perspective of macro-prudential regulation.