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Foreign Exchange Market

In: Financial Reforms in Modern China

Author

Listed:
  • Sun Guofeng

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.

Suggested Citation

  • Sun Guofeng, 2015. "Foreign Exchange Market," Palgrave Macmillan Books, in: Financial Reforms in Modern China, chapter 0, pages 133-175, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-50444-9_4
    DOI: 10.1057/9781137504449_4
    as

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