人民币升值与汇率形成机制的改革

The Appreciation of RMB And The Reform of RMB Exchange Rate Formation Mechanism

近几年来，以美国为首的西方国家要求人民币升值的呼声一浪高过一浪，从而也掀起了人民币是否应该 升值、何时升值、升值幅度等问题的讨论热潮。美国政府不断施压，中国政府从容应对，形成了一道独特的风景。 2005年7月21日，中国人民银行突然宣布人民币升值2%，取得了“出其不意”的效果，而同时对人民币形成机 制的改革则更引人关注。由盯住美元向参考一篮子货币转变，是人民币汇率制度改革的重要一步，其对人民币汇 率制度产生什么影响，还需要时间的进一步检验。

In the recent years,the western countries led by America have kept on demanding the appreciation of RMB, which aroused a heated debate on whether RMB should appreciate,when to appreciate and how much it should appreciate.The Chinese government faced the pressure of American government calmly,which was a unique scene in the international community.On July 21th,2005,the People＇s Bank of China suddenly announced an appreciation of 2% on RMB,achieving surprising effect.At the same time the reform on RMB formation mechanism attracted more attention.A big step in the systemic reform of RMB exchange rate is to change from dollar pegging to referring to basket of currencies.What effect it will have on RMB exchange rate system still needs to be tested by time.