人民币国际化的经济发展效应及其存在的问题

Effect of RMB Internationalization on Economic Development and Existing Problems

人民币跨境贸易结算试点五年来,人民币国际化取得了显著的成就,在促进中国对外贸易发展、深化国内金融改革、推动金融外交以及国际货币体系改革方面都发挥了积极的作用。然而,在人民币国际化进程中也出现了一系列问题,如"两个市场、两种价格"引发的跨境套利、人民币海外存量持续增加、离岸人民币市场的建设布局以及人民币国际化的适度规模问题。在下一步推进人民币国际化的进程中,应当加快国内的金融市场化改革,鼓励国内企业对外直接投资,完善离岸人民币市场建设,并且合理定位人民币国际化目标。

Since the start of yuan-based trade settlement five years ago,much headway has been made in the internationalization of RMB,which has played a positive role in promoting foreign trade,domestic financial reform,financial diplomacy and international monetary system reform.However,a series of problems have come into being following RMB internationalization.For example,the problem of cross-border arbitrage caused by the "two markets,two prices" arrangement,the continual pile-up of oversea RMB stocks,the build-up of offshore RMB market and the appropriate scale of RMB internationalization.As it continues to push RMB internationalization,China should accelerate domestic market-oriented financial reform,encourage outbound foreign investment,improve the offshore RMB market and set an appropriate target for RMB internationalization.