Risk of Exchange Rate Pass-through and Adaptive Strategies of Land-intensive Products in China: Taking Import Products from U.S. as an Example

Based on the review of literatures of exchange rate pass-through, the paper established an empirical model to analyze the degree of exchange rate pass-through of the price of the land-intensive products imported from U.S. and found that U.S. exporters not only passed the RMB appreciation to their export price in RMB in the Chinese market, but overreact to export these products to China in a much lower price. Based on the conclusion, the paper puts forward the policy suggestions such as increasing the support to land-intensive products in the framework of WTO and establishing exchange rate linked support measures for the land-intensive products.