人民币资本项目可自由兑换目标下的“双Q”制度研究

Study on "Two Q" System under the Goal of RMB Capital Account Free Convertibility

我国QFII和QDII制度是人民币资本项目可自由兑换的重要阶段。QFII和QDII近年取得较快发展,但亦面临QFII规模偏小、我国资本市场对其吸引力不够,QDII缺乏海外投资经验、亏损严重等问题。需要完善资本市场功能,为QFII制度的实施营造良好的投资环境;加强QDII风险管理,提高QDII境外投资管理能力;加强监管,健全和完善"双Q"制度,促进跨境证券投资持续健康发展。

QFII and QDII system is the important stage of RMB Capital Account Free Convertibility in our country.＂Two Q＂ system has developed greatly in recent years,but faces some problems such as the small scale of OFII,lack of attraction in capital market,lack of oversea investment experience and severe deficit in QDII.It is required to perfect the function of capital market in order to create a good investment environment for the OFII implement,enhance the QDII＇s risk management and promote its oversea investment ability,strengthen supervision and control,perfect the ＂two Q＂ system to promote the sustainable and healthy development of cross-border security investment.