本文首先回顾了人民币汇率形成机制改革的历史,然后对人民币汇率形成机制改革进行了分析,指出在外汇市场在人民币汇率形成机制中的重要作用。由于外汇市场发展的相对滞后,难以适应人民币汇率改革和增强货币政策主动性的迫切需要,最后指出了中国外汇市场发展的途径。 This paper first reviews the history of the RMB exchange rate formation mechanism reform, and then analyzes the reform of the RMB exchange rate formation mechanism, pointing out the important role of the foreign exchange market in the RMB exchange rate formation mechanism. Due to the lagging development of the foreign exchange market, it is difficult to adapt to the urgent need of RMB exchange rate reform and to enhance the initiative of monetary policy. At last, the ways of the development of China’s foreign exchange market are pointed out.