区域贸易协定中的金融审慎例外条款研究

Research on the Prudential Carve-out Provisions in Free Trade Agreements

区域贸易协定的蓬勃发展推动各国不断开放各自的金融服务贸易。但金融危机的爆发使人们认识到,全球金融服务贸易的健康发展需要在自由化与审慎监管之间保持适度的平衡。然而,当前已有FTAs中的金融监管审慎例外简单挪用GATS模本,在条款本身的准确度、与FTAs的协调度以及对金融监管改革的包容度方面都显示出不足,无法给各方尤其是发展中国家提供足够的审慎监管空间。中国不应盲目跟从他国FTAs的范本,而是应结合本国具体国情设计出符合当前发展阶段的金融审慎例外条款。

Although an increasing number of free trade agreements （FTAs） continue to stimulate the global financial services trade, the 2008-09 financial crisis increased awareness that the healthy development of global financial services requires an appropriate balance between the liberalization and prudential regulation of financial services. However, the prudential financial exceptions designed to strike this balance in existing FTAs simply mimicked the relevant provision of the General Agreement on Trade in Services and have been demonstrated insufficient, incongruent with FTAs and intolerant of financial regulatory reform after crises. Therefore, current exceptions could not provide adequate flexibility for countries, particularly developing countries, to implement the necessary regulation. Developing countries should not blindly follow the examples of the prudential carve-out from current FTAs but should design this important article to meet their current stage of development.