In the past two years, China's foreign exchange reserves have increased at an annual rate of $200 billion. As early as February, 2005, China has surpassed Japan to become the foreign exchange reserve country of 1 in the world. By the end of February 2007, China's foreign exchange reserve balance was 1.53 trillion US dollars, up 43.3% year-on-year. The annual foreign exchange reserves increased by $46,654.38+0.9 billion, an increase of $21460 million. The long-term implementation of the foreign trade policy of "rewarding the excellent and restricting the entry" is one of the main reasons for the rapid development of foreign trade and the substantial increase of foreign exchange reserves.

China needs a certain amount of foreign exchange reserves to meet the needs of importing and repaying foreign debts. Obviously, there are too many foreign exchange reserves in China at present. The foreign trade structure needs to be adjusted urgently. The era of exporting mineral raw materials for foreign exchange is over.

The adjustment of foreign trade policies for industries with high energy consumption, low added value, high pollution and low technology-intensive industries, including export tax rebate policy and export tariff policy, is a concrete manifestation of the country's major decision to slow down the excessive growth of foreign exchange and adjust the import and export structure.