minal GDP deflated by GDP deflator (2000=100);Yf is Chinese main trading partners' national e in RMB, measured as the sum of their nominal GDP deflated by their own GDP deflators (2000=100), then multiplied by average RMB nominal exchange rate against dollar, which including US, Japan, Germany, UK, Korea, Holland.Р(2)Testing the relationship between exchange rate volatility and FIEs exportРAs the Tab. 1 indicates, all the variables are I(1) process, so I can use the Engle-Granger methods to analyze the long-run relationship between the variables based on the function (3). The estimated result is as follows. The residual of equation is proved to be stationary series tested by the ADF test, which means the variables has a long-run co-integration relationship. T-statistics are in parentheses.
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