人民币国际化本外币法规体系重构

The Reconstruction of Domestic and Foreign Currency Regulatory System in the Context of RMB Internationalization

人民币国际化既是国家综合实力和信用的体现,又表明了迎接国际金融环境挑战、坚定实施开放战略和宣誓国家主权的姿态。为此,甄别国际化货币的本质属性与功能,梳理人民币国际化可能存在的本外币法规体系冲突与不适,揭示现存人民币国际化法规体系分置割裂导致的认知偏差、监管套利、增加市场主体负担、造成监管资源浪费等弊端。遵循人民币国际化法规体系重构宏旨,辅之以法律构成要素理论,借助现有外汇管理法规体系的基本框架,运用法律逻辑与技术规范对并轨机制进行调适,从概念、原则和规则等方面形成统一、层次清晰、相互逻辑缜密的规范体系,为人民币国际化提供法律制度保障。

The internationalization of RMB not only reflects the comprehensive strength and credit of China,but also shows China’s attitude to the challenges of the international financial environment,firmly implementing the strategy of opening up and announcing national sovereignty.To this end,the essential attributes and functions of international currencies are identified,conflicts of domestic and foreign currency regulatory systems that may exist in the RMB internationalization are sorted out,and disadvantages such as cognitive bias,regulatory arbitrage,increased burden of market entities,and waste of regulatory resources caused by the separation and division of existing RMB international regulatory systems are revealed.Following the main theme of reconstructing the regulatory system of RMB internationalization,the paper uses the legal logic and the technical specification and reconstructs a unified,clear hierarchical and logical standard system,legal system for the RMB internationalization from the aspects such as concept,principles and rules,based on the existing foreign exchange management regulatory system of the basic framework and the legal elements theory.