哪位大侠能帮我把这段金融学论文摘要译成英文啊！跪谢！~~~~(>_<)~~~~

according to the purchasing power parity theory,under the open economy,high inflation rate caused by the depreciation of the currency of foreign,while china's current economic performance of the rmb exchange rate under a high inflation environment foreign stronger appreciation trend,th** economic phenomenon contrary to the traditional principles of economics,cause great harm to the healthydevelopment of the national economy.began double surplus in the current accountand capital projects in china since 1999,expanding surplus accumulated massiveforeign exchange reserves in china,foreign exchange accounted for in the balancesheet of the central bank models project r**ing proportion of the purchase of foreign exchange and increased pressure to put in the base currency.th** may affect the central bank's monetary policy effects,on the other hand increased inflation expectations.july 21,2005,the people's bank of china announced that the yuan ** no longer pegged to the dollar,but to implement a managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies.has accumulated about 20%appreciation of the rmb against the u.s.dollar,the appreciation of the renminbi bring many d**advantages,but at the same time easing the central bank to the central bank based on the foreign exchange base money and put pressure in addition,you can reduce the domestic price of imports to ease domestic inflationary pressures.therefore,a lot of people think that the appreciation of the renminbi ** an effective means to solve the inflation.but the impact of the appreciation of the renminbi foreign exchange reserves increased in the end how to put in the base currency based on foreign exchange and inflation lag relations are still some shortcomings.th** article will attempt to study these **sues and analys**.