温家宝总理曾表示,中国一定要加快金融改革,而且在加快金融改革的进程中探索人民币面向市场浮动的合理的汇率形成机制。近来,我国金融市场的焦点问题齐聚在人民币汇率上,人民币面临升值的内外压力不断增强。尽管人民币现阶段是否升值、什么时间升值以及升值的幅度多大,还是探讨中的问题。但由此引发的人民币汇率市场化却是不争的事实,在这背后,隐藏的实质意义是人民币比升值已势在必行。而人民币升值所引发的套利机会以及证券市场板块的调整必将吸引各种国内外资金逐利我国的资本市场,对我国证券市场的资金及结构将产生一定程度的影响 Premier Wen Jiabao once said that China must speed up financial reform and explore a reasonable exchange rate formation mechanism for renminbi floating toward the market in the process of accelerating financial reform. Recently, the focus of China’s financial market has gathered on the exchange rate of RMB, and the pressure inside and outside the RMB to appreciate has been steadily increasing. Although whether the renminbi is appreciating at this stage or not, what time it will appreciate and how much it will appreciate will still be the subject of discussion. However, the marketization of RMB exchange rate triggered by this is an indisputable fact behind this. The hidden meaning in essence is that it is imperative that the renminbi is higher than its appreciation. The arbitrage opportunities arising from RMB appreciation and the adjustment of the securities market will surely attract all kinds of domestic and foreign funds to profit our country’s capital markets and will have a certain impact on the capital and structure of China’s securities markets