中国巨额外汇储备的困境与管理

Difficult Position and Management of Chinese Huge Foreign Exchange Reserve

中国外汇储备的迅猛增长增加了货币政策的操作难度,加剧了国内的通货膨胀并促使人民币升值,同时,大大增加了储备成本和储备风险。面临巨额外汇储备带来的困境,探讨了同样拥有巨额外汇储备的新加坡管理外汇储备的先进经验,提出了改善中国外汇储备管理体制的相关建议。

Rapid increase of China foreign exchange reserve will make the option of monetary policy more difficult,prick up domestic inflation and impel the appreciation of RMB.At the same time,it will increase the cost and risk of holding foreign exchange.Facing the difficult position that China s huge foreign exchange reserve has brought,the article introduces some advanced experience of Singapore in the foreign exchange reserves management;Finally,gives some suggestion to improve the system on the management of Chi...