Currency Convertibility and Research on the Free Convertibility of the Chinese Yuan

Author: Xiao Yaofei
Publisher:
Publish Date: 2005-07-01
Features: The issue of currency exchange has always been a key focus in the field of international financial research. The International Monetary Fund has continuously monitored and studied this issue. The current research hotspot is the issue of currency convertibility in developing countries. China is the largest developing country and is also facing economic and financial liberalization and internationalization. Therefore, the free convertibility of the RMB has naturally become a key research topic for Chinese scholars and international financial experts. This book examines the historical context of currency convertibility, revealing its essence: as a institutional arrangement, currency convertibility is the foundation for the stability of both the internal and external value of a currency, and the basis for the stable functioning of money. It focuses on analyzing the impact of a country's currency convertibility on its foreign trade and international capital flows, and explores the driving forces behind the free convertibility of the RMB, as well as the tasks, opportunities, and challenges it faces.