香港人民币离岸金融中心发展及其影响研究
发布时间：2019-06-25 14:57
【摘要】：我国经济的快速发展以及人民币境外流量逐年的增多,建立人民币离岸金融中心成为了必然的趋势。香港以其优越的地理位置、国际金融中心的有利背景、与大陆密切的经贸联系、人才优势等成为我国建立人民币离岸金融中心的首选地。2003年11月,中国人民银行发布公告称将为香港开办人民币业务的银行提供清算服务,人民币业务自此在香港开展。经过近十年的发展,香港的人民币业务已由存款拓宽至贷款及人民币债券,人民币存款主体也由香港居民逐步向非香港居民放开。 香港人民币离岸金融中心对内地经济产生了巨大的影响,而这些影响与香港人民币离岸金融中心的发展,即监管机构、监管规则以及开办的业务有着密切的关联,本文从以上三点出发分析具体的影响。人民币离岸金融中心的建立发展会使货币政策的效力在一定程度上受到削弱,香港与内地形成的两种利率与汇率会引发投机行为,也为金融监管造成更大的挑战；但是另一方面,人民币国际化步伐会加快,我国的企业可以更快更好地“走出去”,贸易也会得到发展。面对利弊两方面的影响,人民币离岸金融市场需要进一步拓宽业务范围,发展债市、人民币贷款业务,开放股市,推动人民币的可自由兑换；我国要加快利率与汇率制度的改革,加强金融监管,保证市场正常、有序、稳定运转,并辅以政策制度的支持。
[Abstract]:With the rapid development of China's economy and the increase of RMB overseas flow year by year, the establishment of RMB offshore financial center has become an inevitable trend. Hong Kong has become the first choice for the establishment of RMB offshore financial center in China because of its superior geographical position, favorable background of international financial center, close economic and trade ties with mainland China and talent advantage. In November 2003, the people's Bank of China announced that it would provide clearing services for banks operating RMB business in Hong Kong, and RMB business has been carried out in Hong Kong since then. After nearly a decade of development, the RMB business in Hong Kong has expanded from deposits to loans and RMB bonds, and the main body of RMB deposits has been gradually liberalized from Hong Kong residents to non-Hong Kong residents. The offshore financial center of RMB in Hong Kong has a great impact on the mainland economy, and these effects are closely related to the development of RMB offshore financial center in Hong Kong, that is, regulators, regulatory rules and business. This paper analyzes the specific impact from the above three points. The establishment and development of RMB offshore financial center will weaken the effectiveness of monetary policy to a certain extent. The two kinds of interest rates and exchange rates formed in Hong Kong and the mainland will cause speculation and greater challenges to financial supervision. On the other hand, the pace of RMB internationalization will accelerate, Chinese enterprises can "go out" faster and better, and trade will also be developed. Facing the influence of advantages and disadvantages, RMB offshore financial market needs to further broaden its business scope, develop bond market, RMB loan business, open up the stock market and promote the free convertibility of RMB. China should speed up the reform of interest rate and exchange rate system, strengthen financial supervision, ensure the normal, orderly and stable operation of the market, supplemented by the support of policy and system.
【学位授予单位】：西南交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.7
[Abstract]:With the rapid development of China's economy and the increase of RMB overseas flow year by year, the establishment of RMB offshore financial center has become an inevitable trend. Hong Kong has become the first choice for the establishment of RMB offshore financial center in China because of its superior geographical position, favorable background of international financial center, close economic and trade ties with mainland China and talent advantage. In November 2003, the people's Bank of China announced that it would provide clearing services for banks operating RMB business in Hong Kong, and RMB business has been carried out in Hong Kong since then. After nearly a decade of development, the RMB business in Hong Kong has expanded from deposits to loans and RMB bonds, and the main body of RMB deposits has been gradually liberalized from Hong Kong residents to non-Hong Kong residents. The offshore financial center of RMB in Hong Kong has a great impact on the mainland economy, and these effects are closely related to the development of RMB offshore financial center in Hong Kong, that is, regulators, regulatory rules and business. This paper analyzes the specific impact from the above three points. The establishment and development of RMB offshore financial center will weaken the effectiveness of monetary policy to a certain extent. The two kinds of interest rates and exchange rates formed in Hong Kong and the mainland will cause speculation and greater challenges to financial supervision. On the other hand, the pace of RMB internationalization will accelerate, Chinese enterprises can "go out" faster and better, and trade will also be developed. Facing the influence of advantages and disadvantages, RMB offshore financial market needs to further broaden its business scope, develop bond market, RMB loan business, open up the stock market and promote the free convertibility of RMB. China should speed up the reform of interest rate and exchange rate system, strengthen financial supervision, ensure the normal, orderly and stable operation of the market, supplemented by the support of policy and system.
【学位授予单位】：西南交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.7
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9 李，
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