香港建设人民币离岸市场的路径与策略探讨

Paths And Strategies of RMB Offshore Market Construction in Hong Kong

本文从分析香港人民币离岸市场的特征与功能入手,指出近年来香港人民币离岸市场建设已取得积极成效,但仍面临人民币存量规模有待扩大、投资品种有待丰富、回流机制有待完善等问题。为此,应按照"明确定位、完善制度、放宽管制、丰富产品"的路径,从加快形成高度市场化的离岸人民币利率和汇率体系、扩大香港人民币离岸市场规模、放宽香港离岸人民币业务的管制、疏通香港人民币资金出入境渠道、扩大香港人民币离岸债券市场规模等方面着手,进一步推动香港人民币离岸市场建设。

In recent years, the building of Hong Kong＇s RMB offshore market has made positive progress. However, the construction of Hong Kong＇s RMB offshore market is still facing some difficulties such as the stock size of RMB needs to be expanded, investment products should be enriched, and reflux mechanism should be improved and so on. According to the path of a ＂positioning clearly, improving the system, relaxation of control and extending product＂, China could promote further the construction of Hong Kong＇s RMB offshore market through accelerating the formation of highly market-oriented offshore RMB interest rate and exchange rate system, expanding the size of Hong Kong＇s offshore RMB market, relaxing the control of the offshore RMB business in Hong Kong and clearing the channels of RMB capital inflow and outflow in Hong Kong.