论人民币资本与金融账户自由兑换

ON THE FREE CONVERTIBILITY OF RENMINBI CAPITAL INTO FINANCIAL ACCOUNT

人民币资本项目自由兑换是我国外汇体制改革的最终目标 ,也是一项伟大而又艰巨的系统工程。人民币自由兑换将给中国经济带来前所未有的利益和挑战。笔者在理论界对人民币自由兑换研究已有成果的基础上 ,首先从理论、实证以及现实意义上探讨人民币兑换的意义 。

Capital convertibility of Renminbi is the ultimate goal of the reform in China' foreign exchange system, which is a tremendous and difficult systems engineering. Free exchange of Renminbi will bring to the Chinese unprecedented benefit as well as challenge. Based on a survey of the current literature on the free exchange of Renminbi, I first explore the significance of Renminbi convertibility in the aspect of theory, substantial evidence and practical impact. And then I make a careful analysis and study of the conditions and order of the convertibility of Renminbi