目前中国外汇市场供大于求的现象,是在现行外汇管理制度下出现的。
The present phenomenon of excessive supply on China's foreign exchange market has emerged under the existing foreign exchange management system .
此外,中国的现行汇率制度也决定了,将外汇储备兑换成本币再支出是不可行的。
In addition, the nature of China's exchange-rate regime makes it impossible to plough the foreign reserves back into local currency spending.
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