人民币汇率市场化改革

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“8·11汇改”十年:人民币汇率弹性增强,双向波动成常态
Sou Hu Cai Jing· 2025-08-11 12:45
"8·11汇改"迎来十周年。2015年8月11日,人民银行宣布完善人民币对美元汇率中间价报价,这也是业内常提起的"8·11 汇改"。 时间进入2025年,人民币汇率中间价依旧发挥着重要作用。8月11日,中国人民银行授权中国外汇交易中心公布,当 日银行间外汇市场人民币汇率中间价为1美元对人民币7.1405元。2025年以来,人民币汇率中间价累计升值479个基 点。 中国外汇交易中心发布人民币中间价报价,是人民银行要求的常态化操作。整体来看,过去十年间,人民币汇率中间 价作为外汇市场重要的参考定价,既被看作是汇率波动的"基准线"和"减震器",也是监管部门调控汇率的"风向标"。 有分析人士指出,未来人民币中间价仍将是人民银行稳汇率政策的重要工具之一,在稳定市场预期方面持续发挥积极 作用。 助推增强汇率弹性 在人民币对美元汇率报价的不同口径中,人民币汇率中间价于每个工作日由人民银行授权在中国外汇交易中心进行披 露。自2005年汇率形成机制改革以来,作为基准汇率的人民币汇率中间价,便成了银行间外汇交易和银行柜台汇率的 定价参考。 为增强人民币汇率中间价的市场化程度和基准性,人民银行于2015年8月11日发布《关于完善人 ...
内蒙古农商银行将于今日开业;离岸人民币升破7.17关口丨金融早参
Mei Ri Jing Ji Xin Wen· 2025-05-26 23:27
Group 1 - The Central Committee and State Council of China issued opinions to improve the modern enterprise system with a focus on enhancing corporate governance, market-oriented operational mechanisms, and promoting innovation and social responsibility over the next five years [1] - By 2035, the modern enterprise system is expected to be more refined, enhancing international competitiveness and laying a solid foundation for building world-class enterprises [1] - The policy is expected to create a synergistic effect with the registration system reform, fostering a value investment logic that emphasizes endogenous growth [1] Group 2 - Central Huijin Company is exploring the improvement of the entrusted management model for state-owned financial capital, aiming to enhance its operational capabilities and promote high-quality development of its controlled and participating institutions [2] - Strengthening operational capabilities is anticipated to enhance strategic coordination in serving the real economy and preventing systemic risks, with asset quality and compliance becoming market focal points [2] - The professionalization of state capital management is expected to reinforce the stability of the financial sector in the market, providing a more sustainable value anchor for investors [2] Group 3 - Inner Mongolia Rural Commercial Bank is set to officially open on May 27, following the merger of various rural credit institutions into a unified local state-owned bank [3] - This merger marks a significant reform in the regional rural credit system, potentially leading to a restructured valuation logic for local banks and providing liquidity premiums for those with clear strategic positioning [3] - The move aligns with financial supply-side reforms, improving the local financial ecosystem and providing stable funding support for rural revitalization strategies [3] Group 4 - Ant Wealth has changed its name to Ant Wealth (Shanghai) Technology Co., Ltd., reflecting a strategic shift from financial services to technology [4] - The change in business scope indicates a focus on technology services, aligning with regulatory trends that separate financial and technological operations [4] - This transformation may lead to innovative business models in the fintech sector, enhancing collaboration between technology solution providers and licensed financial institutions [4] Group 5 - The offshore RMB has surpassed the 7.17 mark against the US dollar, reaching a six-month high, indicating strengthened market expectations for domestic economic recovery [5][6] - The appreciation of RMB assets is likely to attract foreign investment towards core assets, prompting listed companies to enhance their capabilities in managing exchange rate fluctuations [6] - Long-term, the deepening of the market-oriented exchange rate formation mechanism is expected to support a more mature risk pricing system in the capital market, providing a stable monetary environment for value investment [6]