Combining with chinese realities , by using modern economic analytical tools , starting from discussing linkage mechanism between interest rate and exchange rate , author tries to establish a framework to analyze the linkage between interest rate and exchange rate in dynamic opening financial market , and tries to study the financial - market opening model , interest - liberalization model , exchange - rate reform model which adapt to china , thus putting forward a systematic defending , an early warning and a regulating mechanism from a fresh perspective against the new issue - risk shock which occurred during the course of financial - market opening after china ' s entry to wto so as to offer an integrated thought for keeping internal and external balance of economic development in the course of chinese financial opening 本文运用现代经济分析工具,结合中国实际,从探讨利率?汇率联动机理入手,建立金融市场动态开放中的利率?汇率联动分析框架,进一步研究适合于中国的金融市场开放模式、利率市场化模式和汇率改革模式,从而以新的视角对中国加入wto后金融市场开放中出现的新问题? ?风险冲击,提出一个系统的防范、预警和调节机制,为保持中国金融开放过程中经济发展的内外平衡,提供一个整体性思路。