WTO反补贴协定框架下人民币汇率问题探讨——以补贴构成要件为视角

The RMB Exchange Rate Issue Under the Framework of the WTO SCM Agreement——From the Perspective of the Subsidy

近年来,以美国为首的西方国家屡次从国际法角度指控人民币构成补贴,美国的《2011年货币汇率监督改革法案》和巴西于同年4月向WTO提交的汇率提案,再一次使人民币汇率问题成为焦点。如果WTO认可巴西汇率提案,以反补贴措施规制人民币汇率,这将对中国出口贸易造成重大打击。这就有必要根据WTO反补贴协定,逐一分析补贴的构成要件,进而阐明人民币汇率是否构成WTO框架下的补贴。

In recent years, the US-led Western countries have repeatedly accused that, from the perspective of international law, Yuan constitutes a subsidy. The U.S. bill, Currency Exchange Rate Oversight Reform Act of 2011, and Brazil＇s exchange rate proposal to the WTO had provoked another hot issue. If WTO supports Brazil＇s proposal, then makes use of Countervailing measures against China, it would cause great damage to export trade of China. Thus, it is necessary to analyze, according to the WTO SCM Agreement, the elements of subsidies, and to illustrates whether the RMB exchange rate constitutes a subsidy under the WTO framework.