美国离岸金融及其对人民币国际化的启示

美元真正取代英镑成为国际储备货币,这主要取决于美元的稳定性、美国的经济实力和金融市场发展的成熟。而美元离岸市场的发展,更促进了美元作为一种主导型的国际储备货币,在国际贸易和金融交易中发挥主导作用。人民币要成为一种国际性货币,中国就必须要有一个开放性的、发展很广很深的、流动性很好的金融市场,这样才能保证人民币成为一种国际性货币。人民币国际化,主要是交易结算发展的过程,其次是人民币境外市场发展的过程。现在最主要的还是增加跨境人民币的流动性,对人民币从境外流向境内的控制可以谨慎一点;但境内人民币流向境外对境内的冲击要小,所以可以放得更宽一点。在这种情况下,最好的模式就是通过自贸区来发展,把一些管制的措施放得更快、更广。

Overview of American Offshore Financial and its Implications for the Internationalization of RMB

From the end of the Second World War until 1950, dollar replaced the pound becoming the international reserve currency. It mainly depends on the dollar＇s stability, USA economic strength and the maturity of American financial market. What＇s more, the development of the offshore market further promotes the dollar as a leading international reserve currency, playing a leading role in the international trade and financial transactions. For RMB to become an international currency, China must develop an open, wide and deep, with--good--fluidity financial market. The internationalization of the RMB is mainly in the process of trade settlement, then in the process of RMB overseas market development. Now, the most important thing is to increase the liquidity of cross--border RMB, tightly controlling the RMB from overseas while that of the RMB from home to abroad could be at ease. In this case, the best mode is to make control measures faster and wider in China（Shanghai） Pilot Free Trade Zone.