对我国巨额外汇储备成因的探讨

Discussion about the Cause of Huge Foreign Exchange Reserve of Our Country

文章概述了我国近年来外汇储备的增长现状,重点分析了导致外汇储备快速增长的表象原因和实际原因。笔者认为外汇储备剧增主要应归因于一些体制性因素,如强制强售汇制度、缺乏弹性的汇率制度、非市场化的利率政策、不发达的金融市场导致的缺乏外汇储备投资渠道、贸易扶持政策以及资本项目的严格管制等。

The wilier mainly analyses the current situation and the actual reasons that cause the rapid increase of Chinese foreign exchange reserve. It is argued that some systematic factors play the main roles in the rapid growth of the foreign exchange reserve.