论货币锚及人民币锚定物的选择——四为中国金融立论

On the Selection of Currency Anchor and RMB Anchor:Arguing for China’s Finance for the Fourth Time

讨论货币锚,必须明确货币锚这一基本理论问题是在什么条件下提出来的,货币锚进入与退出的基本条件。在信用货币的条件下考察货币锚时,要把货币购买力、货币保障力和货币的偿债能力区别开来。把GDP作为人民币的偿债能力是不妥当的,把GDP作为人民币的锚定物是不妥当的;把土地作为人民币锚定物也是不妥当的。我国人民币的锚定物曾经是黄金、美元、货币供应量目标制和通货膨胀目标制。但现阶段,应坚持汇率为人民币的锚定物。因此,要准确把握习近平总书记关于金融本质和规律的重要论述;要确认当代金融的本质和功能在起着变化;要确立货币的锚定物不能只着眼于国内,而要着眼于国际;要发挥人民币锚定物的效应。

It must be kept in mind under what conditions the basic theoretical question of“currency anchor”is raised and the basic conditions for the entry and exit of currency anchor when it comes to discussing“currency anchor”.It is necessary to distinguish the purchasing power of currency,the safeguard of currency and the insolvency of currency when it comes to analyzing the topic of currency anchor under the condition of credit currency.It is inappropriate to equate GDP with the solvency of RMB and it is improper to regard GDP or land as the anchor of RMB.The anchor of RMB used to be gold,dollar,the target system of money supply and inflation.Nonetheless,exchange rate should be taken as the anchor of RMB at current stage.This article argues that General Secretary Xi Jinping’s thoughts on the nature and principle of finance should be accurately grasped and attention should be paid to the changes of the nature and function of contemporary finance.In addition,we should not only focus on domestic factors but also the international elements when it comes to setting the anchor of RMB and ensure that the role of RMB anchor is effectively displayed.