人民币离岸金融市场国际比较及发展建议

The International Comparison of RMB Offshore Market and its Development Proposal Department of Finance

随着人民币国际化进程的逐步推进,扩大人民币离岸金融市场建设的广度和深度具有重要的战略意义.本文通过对香港、新加坡、伦敦和台湾人民币离岸市场发展数据进行国际比较后发现,香港离岸人民币市场总体优势相当突出,而新加坡人民币贷款额,伦敦人民币外汇交易,台湾人民币存款规模则分别具有比较优势.然而,人民币离岸市场发展过程中存在诸多问题,给市场规模的扩大与市场深度的建设带来了障碍.提出在全球构建以香港人民币离岸市场为主导、多市场并存的人民币离岸市场体系,最后为人民币离岸市场未来发展提供了可参考的政策建议.

With the process of the RMB internationalization,expanding the breadth and depth of the RMB offshore financial market is of great strategic significance.The paper compares the data of the offshore financial markets in Hong Kong,Singapore,London and Taiwan,and finds that the advantages of RMB offshore financial market in Hong Kong is quite prominent,while RMB loans amount in Singapore,average daily trading volume of RMB and international RMB payment weight in London,and deposit scale in Taiwan have a comparative advantage respectively.However,during the process of development,there are many problems which brought obstacles to the expansion of the breadth and depth of the offshore construction.The paper pointedly proposes policies for the future development of the RMB offshore financial markets.Finally,it puts forward the RMB offshore financial market system dominated by Hong Kong offshore financial market,while many market coexisted in the world.