Exchange Rate Policy in China

Miao Zhang

Diplomová práce

Anotace:

China’s exchange rate regime began to reform in 1978, during these 40 years, the Chinese economy has developed rapidly from many aspects, and the exchange rate system has been reformed many times. First, this thesis will analyse the exchange rate policies of various stages in China after 1978, and the changes in exchange rates under the exchange rate system in different periods and the impact on trade and currency reserves. Second, in 2015 the Renminbi inclusion in the SDR basket is an important step in the internationalisation of the RMB. Although the Renminbi is included in SDR and the Renminbi has been convertible on the current account since 1996, there are still many barriers to financial accounts. Analyse the openness of RMB convertibility and financial accounts, and how foreign investors invest in China. In the end, with Haier Group as a case, introduce the foreign exchange management in Chinese companies and how Chinese multinationals manage foreign exchange fund and choose the best fund management model.

Abstract:

China’s exchange rate regime began to reform in 1978, during these 40 years, the Chinese economy has developed rapidly from many aspects, and the exchange rate system has been reformed many times. First, this thesis will analyse the exchange rate policies of various stages in China after 1978, and the changes in exchange rates under the exchange rate system in different periods and the impact on trade and currency reserves. Second, in 2015 the Renminbi inclusion in the SDR basket is an important step in the internationalisation of the RMB. Although the Renminbi is included in SDR and the Renminbi has been convertible on the current account since 1996, there are still many barriers to financial accounts. Analyse the openness of RMB convertibility and financial accounts, and how foreign investors invest in China. In the end, with Haier Group as a case, introduce the foreign exchange management in Chinese companies and how Chinese multinationals manage foreign exchange fund and choose the best fund management model.

Klíčová slova

Financial account, RMB convertibility, Fund management

Keywords

Financial account, RMB convertibility, Fund management

Jazyk práce: angličtina

Datum vytvoření / odevzdání či podání práce: 22. 10. 2017

Obhajoba závěrečné práce

• Obhajoba proběhla 11. 6. 2019
• Vedoucí: Karel Brůna
• Oponent: Ondřej Šíma

Vysoká škola ekonomická v Praze

Magisterský studijní program:
Finance and Accounting