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China’s Evolving Exchange Rate Regime

China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jur...

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Bibliographic Details
Main Author: Das, Sonali
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2019
Series:IMF Working Papers
Subjects:
Government And The Monetary System
Payment Systems
Exchange Rate Arrangements
International Monetary Arrangements And Institutions
Monetary Economics
Currency; Foreign Exchange
Regimes
Saving And Capital Investment
Economic Development: Financial Markets
Money
International Financial Markets
Foreign Exchange
Standards
Economic History: Financial Markets And Institutions: General, International, Or Comparative
Exchange Rate Flexibility
Currencies
Monetary Systems
Exchange Rates
Money And Monetary Policy
Corporate Finance And Governance
China, People's Republic Of
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework
Physical Description:31 pages
ISBN:9781498302029

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