Research on the Impact of RMB Exchange Rate Changes on China's Export Trade
DOI:
https://doi.org/10.54097/q8y1fd71Keywords:
Exchange rate movements, Export trade, Real effective exchange rate, Linear regression modelAbstract
The RMB exchange rate's fluctuation has become a critical element in China's export trade, due to the country's rapid economic growth and the quickening of global economic globalization. The potential of this exchange rate alteration to affect the cost of exports and the international market's competitiveness renders it one of the most influential regulatory forces in the export trade sector. To explore the impact of RMB exchange rate fluctuations on China's export trade, a linear regression model was constructed, based on panel data from 2001 to 2022 in 31 provinces (regions, cities) of China.A positive relationship between the real effective exchange rate index of RMB and China's total exports is evidenced by the results, and an appreciation of RMB can result in a rise in China's total exports. Therefore, the countermeasures and suggestions to stabilize exchange rate expectation, promote RMB internationalization and improve commodity competitiveness are put forward for reference.
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