刍议“热钱”大量流入对中国金融安全构成的威胁

Discussion on the Threat of Influx of "Hot Money" upon Financial Security in China

随着金融在经济发展中地位的提升,金融安全也上升为各国的发展战略。从近年来爆发的金融危机来看,"热钱"作为强烈的逐利性极强的资本,起到了诱发并加剧金融危机的作用,从而威胁到一国的金融安全和政局稳定。我国作为发展中国家,具有币值升值预期等"热钱"流入的基本条件,"热钱"的大量流入,在增加我国外汇储备的同时,也加大了金融安全风险。解除"热钱"的负面影响,必须对"热钱"形成的原因和流入的渠道进行科学的分析和准确的判断;必须保持人民币币值的相对稳定和资金价格跟踪国际资本平均价格,减缓"热钱"流入动力;必须从管理体制和力度上入手,构筑"热钱"流入的"防火墙";必须从科学使用"热钱"着手,实现"热钱""冷用","短钱"长用,化弊为利;必须构建风险管理机制,提高"热钱"威胁金融安全的应对能力,不断增强抗金融风险的能力。这些都是亟待研究的课题。

With the increase of finance＇s role in economic development,financial security has also been the development strategy of every nation.For the financial crisis broken out in recent years,＂hot money＂,being a strong profit-pursuing capital,plays a role in inducing and intensifying financial crisis,and threatens the financial security and social stability of a nation.China is a developing country,and has such basic condition as appreciation expectation of currency value for the influx of ＂hot money＂.And the influx of ＂hot money＂ not only increases the foreign exchange reserve,but also increases the risks of financial security in China.To overcome the negative effects of ＂hot money＂,we must make a scientific analysis and have a correct judgment on the reason and channel of influx of ＂hot money＂;must keep the comparative stability of RMB currency value and follow the average international capital price,slower the influx driving force of ＂hot money＂;must establish a ＂fireproof wall＂ of ＂hot money＂ through management mechanism and intensity;must achieve the ＂cooling usage＂ of ＂hot money＂,and ＂long practice＂ of ＂short money＂ by means of scientific using of ＂hot money＂,turning disadvantage into advantage;must establish a risk management mechanism,and increase the responding ability to prevent against the threat upon financial security,and continuously increase the ability to resist financial risks.And all the points discussed above are a topic for urgent research.