1、 外文资料译文 论文题目 人民币汇率升值对我国外贸 的影响分析 专 业 国际经济与贸易 班 级 姓 名 学 号 指导教师 职 称 2012 年 1 月 3 日 The impact of RMB exchange rate appreciation to our economy and the foreign trade This paper analyzes the causes of RMB exchange rate appreciation, expounds the beneficial effects, adverse effects on our coun-trys econom
2、ic and foreign trade, and puts for-ward the countermeasures to the effects. Present situation of Chinese foreign trade surplus continues to expand, which is caused by a variety of reasons. The appreciation of RMB exchange rate on Chinas economy, foreign trade import and export volume and structure h
3、ave a series of effects, only to take positive and effective measures to make the economy of our country and export enterprises to obtain the sustainable and stable development. 1. reasons for the appreciation of the RMB exchange rate 1.1 Chinese and foreign interest rate difference Interest rate po
4、licy is an important tool of monetary policy. The rate of relative height will affect the capital flow direction is one of the important ways, high interest rates will stimulate the international capital inflow, and reduce its outflow of funds. Thus affecting the scale of international trade, make t
5、he difference of interest rate on exchange rate influence the trend of continuous improvement. 1.2 Money supply situation RMB exchange rate and Chinas money supply substantially positive correlation, due to the deepening of reform and opening up, foreign investors can not only make use of cheap Chin
6、ese labour, more optimistic about Chinas huge domestic market. Therefore, foreign investment increased substantially. Due to tightening of monetary policy, the RMB fund is quite nervous, the entry of foreign capital and foreign exchange, so appeared apparent oversupply, resulting in the trend of Ren
7、minbi rmb. 1.3 International balance of payments and foreign exchange reserve The formation of foreign exchange market and the international trade and investment is not divided, international balance of payment is a countrys foreign economic activities of the various payment sum. Under floating exch
8、ange rates, the market supply and demand to determine the exchange rate changes, therefore international payments deficit will lead to the devaluation of the currency, the foreign currency appreciation, namely the exchange rate rise. Conversely, international payments surplus caused a decline in for
9、eign exchange rates. 1.4 Economic growth A countrys economic take-off stage, due to the low level of productivity, economic development performance for the extensive mode of operation, and thus their own currency exchange rate decreased, i.e. A countrys economy is relatively mature stage, consumer demand as income and growth, but the growth that consumes demand to catch the output supply growth, so in the period of rapid economic growth, supply relative consumption demand, so as
