摘要
Professor Wu Jinglian recalled the changes of Renminbi exchange rate mechanism and analyzed that before 1994, China had a multi-exchange rate, such as official price and adjustable price, sometimes leading a higher evaluation of Renminbi. Since 1994, China has had a strict control floating exchange rate. After the financial crisis in Southeast Asia, China's neighboring countries as well as the US appealed for non-depreciation of Renminbi.China accepted the appeal and kept a steady exchange rate of Renminbi,which contributed to the economic resurgence of Asia and world.
