아시아 금융위기의 실연을 통해서 중국의 국제지위가 한결 높아진 것이다. 중국 거시경제의 중요구성부분인 중국의 통화정책도 일정한 국제 영향력이 갖추어짐으로서 인민폐가 아시아 직역 내의 강세통화로 자라를 잡고 있다. 중국은 WTO의 회원국으로서 국제지위가 나날이 높아지고 있는 한 중국의 환율정책도 국제시장에 영향을 미칠 정도로 중요하다. 특히 아시아 지역 내에서 그 중요성은 더욱 강조되고 있다. 중국 주변 국가 또는 지역들은 가장 중요한 무역거래 대상국이고 일본, 한국, 홍콩과 대만 등은 중국의 수출입 교역총액의 절반을 차지하고 있는 실정이다. 중국의 외환관리와 환율정책은 이들과의 무역활동에 있어서 많은 영향을 미친다. 그렇기 때문에 중국의 외환관리와 환율정책은 자신만의 것이 아니라 국제시장의 일부분으로 보아야 하며 중국 자신만의 상황을 맞게 제정할 수 없고 주변국가와 지역 심지어 전체 국제금융환경을 고려하여 제정하여야 한다.현재 중국 중앙은행에 따른 환율관리의 구상은 시장 메카니즘을 강조하고 정책으로 인한 담보를 약화시키는 것이다. 이는 정부가 외환시장에 개입정도와 개입빈도를 점차 줄어들 것이다. 그런데 정책에 융통성을 부여하는 것은 현 단계에서 "관리"를 넘어간 변동 환율제도가 아니다. 중국 자신의 발전을 추구하면서 세계경제 특히 아시아 경제의 안전과 발전을 추진하고 있으며 위험이 자국의 안전에 미치지 않도록 계속 노력할 것이다. 환율제도의 과도기에 처하는 지금의 중국에서 환율정책에 대한 개선을 신중하게 행하고 고정 환율에서 이미 벗어난 중국의 관리변동 환율제도를 더 발전시켜 보다 건전한 인민폐 메카니즘을 구축하도록 성공한 경험을 총결하고 실패한 교훈을 받아 인민폐에 대한 환율제도 개혁을 앞으로도 꾸준히 하여야 한다.
Because of the outstanding performance of China's economy and the CNY in the Asian financial crisis in 1997, as a regional strong currency CNY was titled as "Little USD", at the same time, CNY becomes to be a strong candidate of the reserve currency and monetary in Asian region."People's Republic of China People's Bank of China Law" (referred to as "the People's Bank of China Law") stipulates that the goal of the Bank of China's monetary policy is to "stabilize the value of the RMB and as a means to promote economic growth." And foreign exchange management policy objective is to "maintain the international balance of payments, and promote the healthy development of the national economy."Therefore, the integration point of stabilizing the value of the RMB and maintaining the international balance of payments is to implement a simple, manageable floating exchange rate system based on the supply and demand on the market. Currently, People's Bank of China exchange rate policy is "strengthening the market mechanism and reducing government assurances" to gradually trimming down its intervention in the foreign exchange market and frequency. However, increasing the flexibility of policy does not mean that in the short term it can cross "a managed exchange rate system" threshold. Implementation of free floating exchange rate is a gradual process; the Government needs to minimize the cost, execute on the most appropriate pace, allowing the CNY to be internationalized.In the current exacerbated international economic environment, the Chinese economy and foreign trade needs a stable and healthy development under the premise is, after all, an effective choice. When China really found a solid financial supervision system, could be able to handling various financial hazard brought by the free-floating exchange rate, not only the RMB can be internationalized, but also the Chinese capital projects convertibility will also be full established.With China's accession to the WTO, China's exchange rate policy is not only the country's internal policy; it also exists with international influence, especially with particular emphasis on the economic impact of the Asian level. In the international trade activities, import and export business with Japan, South Korea, Macao, Taiwan and Hong Kong contribute more than half of China's total foreign trade volume; the exchange rate policy brought great effect on China's total import and export volume changes to other Asian countries and regions. Designated the monetary policy in China, while not taking into account the steady development of the national economy and the country's financial stability, to a large extent also need to take into account the international financial environment, particularly the Asian financial changes in the structure of other countries and regional financial and development.From the perspective of exchange rate reform, in the next few years China will continue to remain among the management of floating exchange rate system. Although China has discarded the fixed exchange rate system for many years, the current managed floating exchange rate system still remains in the focus of "management" rather than "floating". The stability of China's international balance of payments is a major factor of development of China's exchange rate system.Chinese exchange rate system is still in the development process at this moment, completely free floating exchange rate system is the ultimate goal, however, in current condition, it is unrealistic for China to achieve one-off conversion of fixed rate to flexible as many developed countries did years ago. China's current national nature decided that China's exchange rate reforming need a relatively long transforming period, during this procedure China's RMB exchange rate reform will, as always, continue, gradually execute the RMB exchange rate flexibility function, improve the country's internal financial supervision institutions, to achieve the convertibility of capital projects, to build a sophisticated, international foreign exchange management system.