人民币国际化的独特路径及发展前景

The Unique Path of RMB-Internationalization and the Prospects of Development

货币国际化表现为货币作为一般等价物和投资工具的两大功能在国际空间扩展的动态过程。货币国际化有其实现的共同条件,但在实现路径上存在差异。中国经济的固有特色决定了人民币国际化的特色,表现为经济基础相对薄弱与人民币国际区域化并存、经济体制变革转型与人民币国际区域化并存、全球范围的普通货币与东亚区域货币并存以及在国际金融危机中崛起的四大特点。人民币国际化将在空间结构和货币职能上呈现出周边化、国际区域化、国际化以及从储备货币、结算货币到投资货币的三步走态势。人民币将成为东亚货币合作中的核心货币、国际货币合作中多元国际货币的重要一极。

Currency internationalization is a dynamic process of the global expansion of two currency functions as universal equivalent and investment tools. Some common conditions are necessary for currency internationalization,but there are differences in the realization of the path. The inherent characteristics of China's economy determine the features of the RMB internationalization,which could be expressed as follows: coexistence of relatively weak economic foundation and international regionalization of RMB,coexistence of transformation in economic system and international regionalization of RMB,coexistence of worldwide common currency and the East Asian regional currency,and the rise in the international financial crisis. The interanionalization of RMB would present such situations that follow the steps of peripheral stage,international regionalization,and internationalization,in terms of space structures currency functions,and it would go through three stages following from reserve currency,settlement currency to investment currency in terms of currency functions. In the future,RMB will become the core of East Asian monetary cooperation,and a pole of multi-international currencies in the international monetary cooperation.