马德伦：不再用行政手段调整汇率水平

Ma Delun：Administrative approaches will not be used to adjust exchange rate level

央行行长助理马德伦在“2005中国企业高峰会”上表示我国有管理的人民币浮动汇率机制已经形成，今后不必再依靠行政手段进行调整。随着交易调控方式的逐渐变化目前人民币汇率的千分之三浮动范围将扩大，他指出，人民币汇率改革之后外汇市场的风险与日俱增．我国企业、居民和金融机构需要学习如何应对汇率、利率的价格变动和管理风险。同时，央行正在对外汇市场积极地进行制度性设计，以形成具有避险功能的衍生品市场。远期外汇交易已经推出，下一步要逐渐引入掉期业务期权等金融衍生工具。

Ma Delun, Assistant Governor of the PBC, stated that a managed floating exchange rate regime has been introduced, and administrative approaches will ne longer be used to adjust the exchange rate level. After the reform of the RMB exchange rate regime, FX market risks increase rapidly. The central bank is actively carrying an institutional design to form a derivatives market with risk aversion functions. Forward FX trading has been launched and financial derivatives such as swaps and options will be introduced next.