人民币汇率升值对中国资本市场转型的影响

On impacts of Renminbi appreciation on transformation of Chinese capital market

汇率升值对一国的国民经济有着重大的影响,对于市场经济中最为活跃的中枢——资本市场的运行及其发展更是影响深刻。针对人民币汇率升值对于中国资本市场的冲击和影响,结合目前中国特殊的转型状态以及日本、台湾等亚洲国家和地区货币升值的经验,以规范分析的方法进行研究,并提出建议以推动中国资本市场成功转型。

The appreciation of exchange rate has serious impacts on the economy of a country, and even more so to the operation and development of capital market, which is the most active pivot of market economy. The concussions and impacts of the appreciation of RMB exchange rate are probed on the transformation of Chinese capital market, the situation of special transformation in China at present is summarized, and the experiences of Asian countries and regions, such as Japan and Taiwan, are learnt. Normative approaches are used in the research. Proposals are made for the successful transformation of Chinese capital market.