The Terms and Time Selection of Entirely Free Convertibility of Renminbi

摘要

Currency which can be converted freely concerns many factors of domestic economy, especially the exchange rate systems, home financial markets and monetary policies. This paper deems influencing factors of free convertibility of Renminbi as studying subjects mainly, such as healthy entity economy, exchange rates formed in the markets, depth and extent of financial markets, or aptitude execution of monetary policies of central bank, and analyses the basic terms of these factors to benefit convertibility of Renminbi freely, not to be the obstacle factors which block open policy of China. It is also necessary to choose apt time to complete the free convertibility of Renminbi, we can adopt opening capital items step by step.