Since July 21, 2005, China began implementation of the exchange rate reform.
自2005年7月21日,我国开始实施新的汇率改革,即人民币汇率的升值成为了现实。 截至到2007年12月28日,人民币对美元汇率累计升值13.3%,并且这种趋势至今还在加速。
参考来源 - 人民币汇率与中国股票市场价格联动关系分析（研究生论文）·2,447,543篇论文数据，部分数据来源于NoteExpress
Facts have proved that it is not the appropriate window period to implement the exchange rate reform and to promote the internationalization of the RMB.
事实证明，当今确实不是汇改和人民币国际化的合适窗口期。
Lastly, the thesis gives a few Suggestions about the exchange rate reform based on the main conclusions obtained from the empirical analyses, and looks into the future of RMB exchange rate system.
最后根据实证结果，对人民币汇改提出了建议，并对人民币汇率制度的未来进行了展望。
The paper analyses the principal features and defects of RMB exchange rate regime after the reform of exchange rate regime in 2005.
本文分析了2005年汇改后人民币汇率制度的主要特征和缺陷。
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