人民币国际化对中国股票市场的影响

The Influence of RMB Internationalization on China’s Stock Market

目前,从宏观经济背景来看,国内供给侧改革的持续发力,为我国经济的后续发展创造了先行条件。国内经济的向好,促使了人民币在世界货币地位中的提高,人民币国际化势在必行。同时,人民币汇率的变化与股市的波动息息相关,正因如此,人民币国际化与股票市场的关系就成为了众多学者关注的焦点。经论证,本文得到的结论是：从长期来看,人民币国际化指数、人民币兑美元汇率、货币供应量M2、外商直接投资额与中国股价之间分别存在正相关关系,而与联邦基金利率则存在负相关关系。

The internationalization of RMB is a hot topic in China and the world in recent years.At present,the continuous development of domestic supply-side reform has created the antecedent conditions for China＇s subsequent economic development. The blooming domestic economic leads to the increase of RMB currency status in the world.The change of the RMB exchange rate is closely related to the fluctuations of the stock market.Therefore, the relationship between RMB internationalization and the stock market has become the focus of many scholars.The conclusion is that in the long run, RMB internationalization index, the RMB against the US dollar, the M2 measure of money supply, foreign direct investment respectively, is a positive correlation re-lationship with Chinese stock prices, and a negative correlation with the federal funds rate.