The mandatory exchange settlement and sales system is a special system which established under the secial conditions in the early stage of China’s reform. Currently, the risks converted under the mandatory exchange settlement and sales system, which increased the difficulty of the central government’smacro - control, and distorted the equilibrium in the foreign exchange market. The key to deal with the p roblem is to change the mandatory exchange settlement and sales system into a asp iration system of exchange settlement and sales, accompanied with matched policies for keep ing stable transition