As of April 10, 2008, the exchange rate of RMB against the US dollar has risen to 1 6.992. Compared with the beginning of the year, this value has increased by more than 4%. Since the exchange rate reform in July 2005, the RMB has appreciated by 15%. As an important member of the world financial arena, the change of RMB exchange rate will affect the nerves of the whole Asia and even the whole world. China's economy is growing rapidly, the balance of payments is in surplus, and foreign exchange reserves are growing steadily. Everything shows that the space for value-added is huge. This paper analyzes the background of RMB appreciation pressure, the unfavorable aspects of China economy and the favorable aspects of China economy.

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