| Abstract | On the basis of the 2001Q1-2015Q1 quarterly data, with the Interest Rate Parity theory, the proportion method and F-H, using the anchor currency model, this paper analysis the actual capital account openness, and gives a detail description to the status of the capital account liberalization effect to the anchor currency for RMB. After an overview of this paper, firstly, at present, the RMB has become the “monetary anchor” of the most surroundings and close exchanges of countries in China. Secondly, during the period of 2001Q1-2009Q4, the RMB exchange rate has a positive relationship to the samples, while it has a negative relationship to the countries for 2010Q1-2015Q1. Thirdly, there is no significant change between the nominal capital account and the actual capital account from 2001Q1 to 2015Q1 in China. China is still a highly closed status for the capital account. Finally, the opening of capital account has no been obviously changed, but the opening of capital account would enhance the position for RMB anchor. |