人民币国际化十五年的政策构建:内容框架、目标取向与优化建议

Policy Construction of RMB Internationalization in 15 years:Content Framework,Target Orientation and Optimization Path

党的二十大报告提出“有序推进人民币国际化”。利用文献法系统回顾和梳理了近十五年人民币国际化的政策构建,研究发现:(1)它形成了经常项目下跨境人民币结算业务和资本项目下多元化的跨境人民币投融资业务的基础性政策机制,并与汇率、清算网络、国际合作等相关配套性机制相结合,构建了较为完整的人民币跨境使用政策框架;(2)这种政策构建有着鲜明的目标取向,在战略性上它契合了不同时期的国家重大发展规划,策略上它对不同阶段人民币国际化发展目标实现了有序引领,目标定位上它呈现出以市场化为主导、从贸易向金融领域拓展的变迁取向;(3)未来政策构建的优化方向须致力于相关制度环境的完善、监管机制的提效、政策框架的优化及中国特色政策模式的构建等。

Using the literature method,this paper systematically combed the policy promotion process and motivation logic of RMB internationalization in the past 15 years,and found the following results:(1)The basic policies of cross-border RMB settlement business under current account and diversified cross-border RMB investment and financing business under capital account,as well as relevant supporting mechanisms such as exchange rate,clearing network and international cooperation,have formed a relatively complete policy system for the cross-border use of RMB;(2)Behind the promotion of RMB internationalization policy was the combined effect of market-oriented leadership,the design of national development strategy planning and the guidance of RMB internationalization itself development goals;(3)The future direction of policy promotion should focus on the improvement of the relevant institutional environment,the improvement of the regulatory mechanism,the optimization of the policy framework and the construction of the policy model in China.