Since the reform and
opening-up, China’s foreign trade has obtained at breakneck speed, and in the international
competition accumulated the massive trade surplus and foreign exchange reserves.
That makes some western countries claim that the value of RMB was severely underestimated, which brought about unprecedented and consecutive appreciation pressure of
RMB. The appreciation of RMB is highly related to the balance of the internal and
external economics. This paper analyzes the background and the impact on Chinese
economy of RMB appreciation, and then puts forward some recommendations or strategies