The exchange rate system reform in China: Some important results

• Main Authors: YIP, Paul S. L., TSE, Yiu Kuen, DONG, Yingjie
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2022
• Subjects: exchange rate system; reform; GARCH model; nominal effective exchange rate; renminbi; China; Asian Studies; Macroeconomics
• Online Access: https://ink.library.smu.edu.sg/soe_research/2679; https://ink.library.smu.edu.sg/context/soe_research/article/3678/viewcontent/yip_et_al_2022_the_exchange_rate_system_reform_in_china_some_important_results.pdf
• Institution: Singapore Management University

We provide a review and empirical study on the exchange rate system reform in China. In the initial stage of the reform the Chinese central bank PBoC's implicit promise of gradual appreciation helped to contain the appreciation rate and volatility of the renminbi. Subsequently, under US pressur...