当前人民币升值压力的内因分析

Analysis of the Internal Cause of Present Pressures on the Appreciation of RMB

目前存在的外汇供求结构不对称问题使经常项目、资本与金融项目持续双顺差,造成了人民币升值的内在压力。要缓解人民币升值的压力,短期内应谨慎采取措施,扩大和满足外汇需求;从长远看,汇率市场化是必然的选择。

At present, the asymmetric problem of structure of the supply and demand of the foreign exchange exist yet in our country, leading to the current and the capital account with 'a pair of favorable balance' and the inflow of foreign currency being greater than the outflow of that, causing the main internal pressure of the appreciation of RMB. To alleviate the appreciation pressure of RMB, in the short run, some measures must be taken prudently to expand and meet the demand of foreign exchange, but in the long run, the marketization of the exchange rate is an inevitable choice.