중국의 외환제도 변천사에 관한 분석

Historical analysis of Chinese foreign exchange system -based on the open-door policy of socialistic regime and on the transition of economic system-

Based on the open-door policy under the socialistic planned economy and on the transformation of economic system, China’s foreign exchange system could be divided into three period. In the first period (1949~1978), China had fixed exchange system mainly and thereafter basket currency pegging system in order to maintain the closed socialistic planned economy. Through this closed policy, China wanted to keep the socialistic planned economy purely from the so-called capitalistic exploitation. In the second period (1979~1990), China adapted the double exchange rate system in relation with foreign exchange certificate. In this open-door policy under socialistic planned economy, China wanted to solve the insufficient resources problem through the limited trade with capitalistic nations, while maintaining the socialistic planned economy. In the third period(1991~ ), China has been involved into the world market system through transforming the economic system, that is, from the socialistic planned economy to the socialistic market economy. And China accepted the floating exchange rate system in order to participate in the global economy actively.