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我国外汇的发展史(The history of foreign exchange in China)
我国外汇的发展史(The history of foreign exchange in China)
The history of foreign exchange in China
1949 ~ 1952: remittances
Remittances, perhaps for most Chinese should be very strange, but it refers only to overseas remittances sent home to support families, is equivalent to the current number of migrant workers in rural areas to the family home exchange money. However, it has become the main tool affecting the initial foreign exchange rate of china.
In the peoples Bank of China established and issued a unified currency at the beginning, the renminbi is not required to determine the gold content, the RMB exchange rate basically in accordance with the price comparison method to determine, until July 8, 1950, with the establishment of economic order and the gradual recovery of the national financial system, the RMB exchange rate began to implement a unified national, published by the head office of the peoples Bank China.
But at that time, due to the blockade, remittances have become the main source of Chinas foreign exchange reserves. According to China Bank statistics, in the last century in 50s to 60s this stage, despite the restrictions, remittances income is still around $100 million, while in 1951 Chinas foreign exchange reserves of only $45 million. Therefore, the current exchange rate policy also has a encourage remittances this one.
1953~1972 years: fixed exchange rates
This situation in 1953 after the shift, when China adopted a highly centralized planned economy and foreign trade by the state foreign trade company specializing in foreign exchange business, unified management by the China bank. Accordingly, when the RMB exchange rate is fixed exchange rate made by the government, just as the planning and economic accounting standards, to maintain the stability of the policy, only to make corresponding adjustment in foreign currency devaluation or appreciation, RMB exchange rate and foreign trade are not closely contact.
Therefore, the RMB exchange rate is mainly u
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