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摘要：此文是与当前中国的经济形势有着密切的关系的研究。两个宏观经济的主要特点是人民币升值和证券市场上涨的关系分析宏观经济变量的传导机制在我国能帮助清除关闭。在目前的研究中，中国的以前的汇率管制和资本市场的发展是不完美的和的交换率和该股票的市场研究价格的文献较少，所以本文可以帮助弥补现有的不足研究。

Summery

It has the close relationship with the current economic situation in China. The two macroeconomic main characteristics are RMB appreciation and securities markets rose whose relationship analysis can help clear off the macroeconomic variables’ conduction mechanism in our country. Economics essay example In the current study, China's previous exchange controls and the development of capital market is not perfect and the literature of the exchange rate and the price of the stock market research is less, so this dissertation can help to make up for the deficiency of the existing research.
Since July 21, 2005 and the reform of RMB exchange rate, RMB exchange rate decision basis has changed from a single aim at the dollar to total money elastic exchange rate system. after the reform of the exchange rate system, China's foreign exchange market emerged three main features: ①the RMB exchange rate has appreciated slowly, amplitude increases gradually, during the time it exists two-way fluctuations and elastic gradually strengthened; ②outside trading products enrich gradually; ③The transaction unit is expanding fast. Due to the reform of the RMB exchange rate mechanism makes the RMB rate marketization level to greatly improve. Although the current exchange rate level can't fully reflect the market supply and demand, it can achieve on the more accurate understanding of China's economic situation itself through the analysis of the performance of the RMB exchange rate.
China is in the stage of the reform of the RMB exchange rate system and the perfection of the stock market. In China the capital market is not opening completely to the outside world, but foreign capital can enter the Chinese market by all sorts of ways and produce influence on the share price. At the same time with the deepening reform of the foreign exchange rate and the gradually improve of capital account opening degree, the external factors have a more and more great influence on China's stock market and make it much more relationship with other main stock market. In China the stock market changes will produce much stronger impact on the world stock market. On the other side the linkage’s enhancing and capital account’s opening gradually promote the internationalization of RMB and will be helpful for RMB exchange rate marketization reform. This dissertation analyzes the degree of correlativity between RMB exchange rate volatility and stock market changes in China by analysis of the relationship between RMB exchange rate and stock market and international experiments. It aims to find the linkage of RMB exchange rate and share price, which can play a role to policy in China. Therefore the relevance of stock market and exchange rate is a value research.

Introduce

Literature review
1.1 Exchange rate and share price relationship research
1.1.1 There is correlation between the exchange rate and share prices
1.1.2 There is weak correlation between the exchange rate and share price.
1.1.3 The relevant research in China
1.2 The interrelationship between exchange rate and share price
1.2.1 The impact of RMB exchange rate on share price
1.2.2 The impact of share price on RMB exchange rate
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