摘要
In 2015 and 2016,China’s capital and foreign exchange(Forex)markets experienced several fluctuations.The plunge in stocks and Forex caused such panic that the upper and middle class had an anxious impulse to transfer money out of China.This resulted in China’s foreign exchange reserve dropping from its peak of more than USD4 trillion to USD3 trillion.More than 90%of economic and financial experts reportedly asserted that the exchange rate of RMB against the USD would fall to 7:1 in 2016.
