Based on analysis on recent macroeconomic characteristics, the paper finds foreign exchange rate policy has increasing impact on macroeconomic performance with growingly opened China economy.

• 摘要本文通过对当前新一轮宏观经济波动特征的分析，发现随着中国经济对外开放度的日益提高，汇率政策对宏观经济的运行已具有越来越重要的影响。