RMB Appreciation on China's Trade Surplus with Paradox of Analysis

Exchange rate transmission mechanism for the effective operation of economic system, balanced, achieve internal and external sustainable development plays an indispensable role. At present, China's macroeconomic situation and some objective system of exchange rate transmission mechanism factors make is affected by many adverse impact. Meanwhile, in recent years, our country's balance of payments is the main characteristics of "double surpluses" structure in an constantly strengthened, this hidden deep contradictions and problems, and to the entire national economy achieve internal and external equilibrium and sustainable development constitutes the threats and challenges of reality. "Double surpluses" "give the RMB exchange rate appreciation pressure caused by the continued in China, make a considerable degree, lost in the monetary policy issue, and trapped people yuan appreciation pressure and the money supply growth double difficulty. Although at present, the yuan has the realization moderate to rise, but from the real situation, this is not to be able to stop international payment surplus and foreign exchange reserves growth. This article in this context, and combining the current exchange rate policy and implementation of the renminbi appreciation, seeking to slow the international trade balance the contradiction between the account surpluses.