| After the 2008 financial crisis, the global economy has been in a slump. China’s economy has also been impacted greatly in the short term. Many companies have been sent under in the economic crisis. The unemployment rate increased dramatically. For these reason, the CPC Central Committee pursued timely and appropriate macroeconomic policies to stimulate China to avoid a great depression. The financial crisis had also become China’s implementation of the key period of the catching up strategy, enhancing international competitiveness. Under the background of economic globalization, China should accelerate the integration into the world economy. To promote the transformation of economic structure and promote steady economic growth of china, we should absorb the capital and study the technology of other countries. It requires China to accelerate the reform of the financial system and the opening of the financial market.The key to open the financial market lies in two points. One is the decision mechanism of exchange rate. One is to allow foreign capital inflows to the domestic capital market. During the crisis, the reform of China’s exchange rate regime and gradually growing of capital market provide a solid foundation for the further reform of China.In this paper, through theoretical and empirical analysis to study the relationship between the two. Firstly, the theoretically linked mechanism of exchange rate and stock index of fifteen representative industries. From the theoretical perspective, the middle way of mutual influence of different industries stock price index and exchange rate volatility and its effect. Secondly, this paper selects the 2010 to 2014 daily data on the RMB against the dollar and fifteen representative industries of stock index and studies empirically on the relationship of exchange rate and the stock price index.The relations of different sectors of the stock price index and exchange rate are not identical. The short-term and long-term relations of one industry stock price index and the exchange rate are different. And according to the characteristics of special industry to analysis deeper and summarize.Then give some advice to related enterprises, the investor and the government on this industry. |
