【正文】
er. According to a Report to Congress on International Economy and Exchange Rate Policies by the US Treasury Department, RMB has appreciated by percent to its major trade partners. The minister said the major impact of RMB appreciation is that it has stimulated import but restrained export. In the first 7 months of 2020, China39。s reform in financial system. The reform will have positive impact in optimizing China39。t manipulate the exchange rate, therefore, to demand China increase its exchange rate again is groundless. The US Congress has again called on China to appreciate its yuan in order to balance the bilateral trade. Bo Xilai said the reason for trade imbalance is very plicated, but the root is not on RMB exchange rate. First of all, because enterprises in Japan, South Korea and other southeast Asian nations have e to China to produce and then exported their products to the US, the trade originally with Japan and Korea as well as other countries has shifted to be with China. Secondly, the calculation method in the two sides is different. Due to third party transfer, the US has overcalculated bilateral trade imbalance. Thirdly, mutual plement nature of bilateral trade between the US and China has decided that the current trade is not irrational, for the lowend modities the US market needs will e from other countries anyway if it doesn39。s export to the US and increase import from the US to China, but its impact on SinoUS trade balance is very limited. And RMB value now is able to fluctuate according t