中国外汇储备资产管理的现状与对策

截至 2003年 6月,中国外汇储备已高达 3 464. 76亿美元,仅次于日本,居世界第二位。对一个人均GDP刚过 1 000美元、资金极为稀缺的国家,过多的外汇储备使外汇资金不能发挥应有的效力,中央银行面临着对内长期通货膨胀、对外人民币升值的压力。面对这种情况,确定合理的外汇储备规模,实施意愿性结售汇制度,重视引进外资的质量,完善外汇风险管理制度具有重要的理论和实际意义。

Current situation and policies concerning foreign exchange reserve in China

By June 2003, the foreign exchange reserve in China has reached USD 3464, 76 billion, which is just next to that of Japan in the world. However, too much foreign exchange reserve can not allow the foreign funds to fulfill their financial function for China with only a per capita GDP of only USD 1000. The Central Bank has been suffering the inflation and pressure of revaluation of RMB for a long time. It is important and necessary for China to have a reasonable scale of foreign exchange reserve. Meanwhile China should carry out the volitive system of purchase and sale of foreign exchange, attach importance to the quality of foreign funds, and improve the system of foreign exchange risk management.