The RMB Exchange Rate Has Basically Been Balanced.

< p > < a href= "http:// www.sjfzxm.com/news/index_cj.asp >" the quarterly report on China's economic and financial outlook (the three quarter of 2014) released by the International Finance Research Institute of the Bank of China "(" the three quarter of the year ") pointed out that the average trade surplus of a country accounts for 3% of the GDP ratio, so it can be considered that the exchange rate of the national currency has been balanced.

The proportion of China's current account surplus to GDP fell from 10% in 2007 to 2.1% in 2013.

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< p > according to this standard, the RMB < a href= "http:// www.sjfzxm.com/news/index_cj.asp" > exchange rate < /a > has basically reached the equilibrium level.

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< p > since June, when the central bank restarted the exchange rate system reform in January 2010, the RMB exchange rate rose to nearly 12% against the US dollar, reaching its highest level in the past 20 years.

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< p > 4 months later, the "a href=" http:// "www.sjfzxm.com/news/index_cj.asp" > RMB > /a > entered the devaluation channel, and the RMB depreciated more than 3% against the US dollar. It touched 1 yuan and exchanged 6.26 yuan, the lowest level since the end of 2012.

Since June, the RMB exchange rate has begun to callback, which once again aroused great concern in the market.

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< p > related links: < /p >

< p > the relevant person in charge of the people's Bank of China said that the establishment of the relevant RMB settlement arrangements would be conducive to the use of RMB in cross-border pactions between Chinese and French enterprises and financial institutions, and further to promote trade and investment liberalization and facilitation.

Analysts said that with the accession of France and Luxemburg, the competition for the RMB offshore center in Europe will become fiercer.

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Since this year, the pace of the internationalization of RMB has been accelerating, especially in the acceleration of the distribution of RMB clearing business in Europe.

The Central Bank of China has recently authorized the Bank of China Frankfurt branch to act as the clearing bank for RMB business in Frankfurt, and authorized the China Construction Bank (601939, Ba Ba) (London) Limited as the clearing bank of the RMB business in London.

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< p > compared with the mature US dollar cross-border clearing business, the volume of RMB international clearing network is still relatively small. At present, the RMB overseas clearing network is mainly divided into two pilot modes: "clearing bank" and "agency bank".

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< p > there are currently RMB clearing banks in China, including Hongkong, Macao, Taiwan and Singapore, Britain, Germany and the United States.

Since the RMB business in Hongkong started earlier, more than 70% of the international RMB clearing business has been completed through Hongkong.

Analysts say that from several European cities, London is most likely to become the main offshore RMB financial market in Europe with the largest foreign exchange trading center in the world.

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