我国当前对热钱的监管方式及其效率评估

The hot money supervision and its efficiency evaluation in our country

自2005年我国汇改以来,人民币对美元的汇率持续单边升值。2008年又发生了由美国次贷危机引发的全球性金融危机,使得美元利率持续下降。而在这一时期我国保持了经济的基本稳定,大量的热钱流入我国,使得我国的外汇储备出现快速增长,增大了外汇储备管理的难度。同时,热钱流入对我国的资本市场也产生了很多的负面影响,如果我国不能采取有效的监管方式来控制热钱的流动,我国的经济将有可能出现危机。

Since 2005,China's health reform,RMB exchange rate against the US dollar to continue the unilateral revaluation.Again in 2008 by the American sub-loan crisis triggered by the global financial crisis,causes us dollar interest rates continued to decline.During this period our country has maintained the basic stability of economy,lots of the inflow of hot money in China,making China's foreign exchange reserves rapid growth,increased foreign exchange reserve management difficulty.At the same time,hot money inflows to China's capital market has also produced many negative effects,if China cannot take the effective supervision to control the hot money flows,the economy of our country will likely crisis.