人民幣匯率對(duì)外貿(mào)交易的影響[外文翻譯]

英文：10609字符
中文：3166字

First, the core of foreign exchange reform, performance and trend analysis
(A) of the RMB exchange reform in 2005 the core in the following aspects: First, the exchange rate formation mechanism reform. Since July 21, 2005, the RMB started to practice market-based, with reference to a basket of currencies, there is managed floating exchange rate system. Second, the appropriate release of the RMB appreciation. namely, the appreciation of the yuan currency to make small adjustments to the yuan against the U.S. dollar by 2.1%. The third is due to expand the floating range of RMB exchange rate. to allow the yuan-dollar exchange rate volatility for the day plus or minus 0.3%; and non-dollar currencies to the yuan exchange rate floating range extended to 3%; to expand the banks in the pricing of rights, cash and cash sale price of the benchmark rate down 1% -4% or less by the banks to decide, but also multi-day price.
(B) after performance of the RMB exchange reform: exchange rate flexibility has become pronounced and the trade surplus continued to expand. RMB exchange reform in 14 months, the yuan-dollar exchange rate movements, and basic show "rose slipped" the characteristics of the slow movement of its own run: (1) slow its own run. from the exchange rate reform to September 21, 2006 in 291 trading days, only 2 days less than 8.11, the lowest for the July 27, 2005 of 8.1128, compared with 0.03% 8.11 depreciation, the maximum for the September 14, 2006 of 7.9461, compared with 8.11 l 2.06%, total volatility is 2%. (2) highlighted the exchange rate flexibility to achieve a two-way floating. such as: the dollar, compared with the previous trading day, the yuan in 291 Japan has 191 trading days trading float, 100 trading days to float downward. (3) trade surplus continued to expand. In 2005 China's trade surplus up to 101.9 billion U.S. dollars, of which the trade surplus reached 62.3 billion U.S. dollars in the second half than before the exchange reform trade surplus of 39.6 billion U.S. dollars for half a year more than 22.6 billion U.S. dollars.......

一､人民幣匯改的核心內(nèi)容及其表現(xiàn)和趨勢(shì)分析

(一)2005年人民幣匯改的核心內(nèi)容主要體現(xiàn)在以下方面:一是改革匯率生成機(jī)制｡自2005年7月21日起,人民幣開始實(shí)行以市場(chǎng)供求為基礎(chǔ)､參考一籃子貨幣進(jìn)行調(diào)節(jié)､有管理的浮動(dòng)匯率制度｡二是適當(dāng)釋放人民幣升值的壓力｡即對(duì)人民幣幣值作小幅的升值調(diào)整,人民幣對(duì)美元升值2.1%｡三是適當(dāng)擴(kuò)大人民幣匯率的浮動(dòng)區(qū)間｡允許人民幣兌美元匯率日波幅為上下浮動(dòng)0.3%;將人民幣與非美元貨幣匯率的浮動(dòng)區(qū)間擴(kuò)大到3%;擴(kuò)大銀行自行定價(jià)的權(quán)限,現(xiàn)匯和現(xiàn)鈔買賣價(jià)在基準(zhǔn)匯率上下1%-4%以內(nèi)由銀行自行決定,而且可以一日多價(jià)｡
(二)人民幣匯改后的表現(xiàn):匯率彈性開始凸現(xiàn)和貿(mào)易順差繼續(xù)擴(kuò)大｡人民幣匯改14個(gè)月以來人民幣對(duì)美元匯率的基本走勢(shì),基本呈現(xiàn)“大漲小跌”的緩慢盤升走勢(shì)的特點(diǎn):(1)緩慢盤升｡從匯率改革至2006年9月21日的291個(gè)交易日中,只有2個(gè)交易日低于8.11,最低為2005年7月27日的8.1128,比8.11貶值0.03%,最高為2006年9月14日的7.9461,比8.11升2.06%,累計(jì)波幅為2%｡(2)匯率彈性凸現(xiàn),實(shí)現(xiàn)了雙向浮動(dòng)｡如:對(duì)美元,與上一個(gè)交易日對(duì)比,人民幣在291個(gè)交易日中有191個(gè)交易日上浮,100個(gè)交易日下浮｡(3)貿(mào)易順差繼續(xù)擴(kuò)大｡2005年我國(guó)貿(mào)易順差高達(dá)1019億美元,其中下半年貿(mào)易順差達(dá)623億美元,比匯改前的上半年貿(mào)易順差的396億美元還多226億美元......