【正文】 RMB appreciation Abstract: At present, the RMB39。s appreciation has attracted wide attention because exchange rate movements on the impact of a country39。s economy and international interests of all economies is closely related to Caused by the yuan appreciation are also external factors, both internal and therefore a variety of measures to be taken and requested the coordination of the main stakeholders in order to cope with the impact of the appreciation. This paper analyzes the causes and impact of RMB appreciation that the appreciation should seize the opportunities and to actively respond to challenges, to avoid sharp fluctuations in the Chinese economy. 一 .An appreciation of the renminbi because （ 1） .An appreciation of the yuan external causes First, the RMB revaluation pressure from the United States. The US government believes that the longterm SinoUS trade surplus with the US dollar and China39。s pegged exchange rate policies, the depreciation of the dollar can be put into the role of trade, but to make Chinese products more petitive, there is an urgent demand appreciation of the , the US trade deficit is determined by its sharp increase in foreign direct investment is too large, personal consumption expenditures is much higher than savings, and so a variety of factors, appreciation of the renminbi alone could not rescue its economy , the pressure from Japan. 90 years since the Japanese economy has entered a long period of depression, inexpensive Chinese products in the Japanese market share rising, the Japanese government that the low prices of Chinese goods to foreign sales, not only Japan39。s current account deficit in the state, but also to the Japanese domestic market has brought the threat of , Japan strongly want to change the yuan revaluation of the domestic economy continues to slump and the decline in international petitiveness of the again, the pressure from the European continuing depreciation of dollar against the euro makes the link with the devaluation of the yuan against the euro, is also relatively recent years, ChinaEU trade continued to grow, the depreciation of the renminbi against the euro, European panies in China led to the rising costs of goods, business loss, then Canada, the European Union and other countries and regions have to revalue its currency in order to take some of the effects of dollar depreciation. （ 2） the internal causes of the appreciation of yuan First of all, China39。s capital projects and current 39。double surplus39。 led to the huge foreign exchange reserves are the most important internal reason for the yuan appreciation. Second, China39。s continued rapid economic growth laid the economic foundation of the RMB exchange rate. Moreover, the United States spreads upside down has further boosted the yuan 39。s current excess liquidity there and asset prices, inflation rates remained high, the central bank needs to tighten moary policy to deal with these issues, including improving the RMB deposit and lending , the US interest rate cut in a row after the rate cut is still possible, the situation of SinoUS spreads upside down from the United States makes a large number of shortterm capital outflows are more likely to flow into China, causing upward pressure to the yuan. 二 the RMB appreciation on China39。s Economy (1) The appreciation of the renminbi reduces the profitability of China39。s export products Yuan revaluation, if China39。s modity prices in foreign currencies marked change, places yuan marked prices, in this case, although China39。s exports will not be affected, but the corporate profit margins will the price of the RMB marked change, places mark up the price of foreign currency, China39。s export products in the international market, declining petitiveness, reduced exports, corporate profits will revaluation caused a decline in level of corporate profit margins out of date due to the different types of products and the primary products of its laborintensive products and low valueadded products, the most influential of these products is to use cheap labor to reduce internal costs, export prices down in order to obtain the international petitiveness of the industry itself, due to intense petition, small profit margins appreciation of the yuan to its greater impact. Its for the deep processing, with higher valueadded, as well as enterprises with independent little effect on national brands, or even no products of these enterprises have the advantage of nonprice products, panies can negotiate with the client consultation, lock exchange rate risk, etc. to resolve to reduce the pressure on profits. (2) appreciation of the renminbi is conducive to reduce import costs and improve trade structure