资本账户开放进程中跨境贸易人民币结算的微观风险分析

发布时间：2018-04-19 13:58

本文选题：资本账户开放 + 跨境贸易人民币结算　；参考：《吉林大学》2012年硕士论文

【摘要】：我国自2009年7月在上海、广州、深圳等几个城市开展跨境贸易人民币结算试点以来，跨境贸易人民结算的规模不断扩大，并在2011年8月将试点扩大至全国范围。虽然跨境贸易人民币结算取得了一定的成果，但由于我国当前部分资本项目还存在较强的资本管制，使得境外人民币没有回流的渠道，不能获得保值增值，因而阻碍了跨境贸易人民币结算的进一步发展。跨境贸易人民币结算的范围已经扩大至全国标志着人民币国际化进程又前进了一大步。另一方面，十七届五中全会又将“逐步实现资本项目可兑换”写入“十二五”发展规划，可见，我国正在稳步推进资本账户开放。研究资本账户开放与跨境贸易人民币结算的关系，以及资本账户开放对跨境贸易人民币结算的影响，对进一步推进跨境贸易人民币结算，更好地促进人民币国际化具有重要的意义。本文主要在前人研究的基础上，从微观角度出发，研究在资本账户逐渐开放的进程中，企业、商业银行这两个微观主体在跨境贸易人民币结算中面临的风险，并针对存在的问题提出相应的政策建议。共包括五章，内容如下：第一章是绪论，主要分析了本文的选题背景和研究意义，并对相关的文献进行了综述，列举了主要的创新点和不足之处。第二章论述了资本账户开放与跨境贸易人民币结算的关系。资本账户开放和跨境贸易人民币结算都是人民币国际化过程中的重要过程，资本账户开放有利于增加资本的回流机制，促进人民币在跨境贸易结算中的使用。跨境贸易人民币结算使得人民币“走出去”，资本账户开放又使得人民币“流回来”，保证了人民币的双向顺畅流动，进一步推动了人民币国际化。第三章分析了资本账户开放对跨境贸易人民币结算的影响。资本账户开放对跨境贸易人民币结算既有正面影响，又有负面影响。一方面，资本账户开放拓宽了人民币的回流渠道，可以满足企业实现人民币投资与保值增值的需要，增强了人民币的可接受程度，从而促进了跨境贸易人民币结算的实施。另一方面，资本账户开放，也可能导致短期资本的快速流入流出，产生资本冲击，资本冲击造成的汇率波动会增加企业使用人民币结算的风险，对跨境贸易人民币结算产生一定的负面影响。第四章重点阐述了企业和商业银行在资本账户开放过程中使用跨境贸易人民币结算所面临的风险。资本账户开放将导致跨境贸易人民币结算的微观主体面临一些风险，对于企业来说，资本账户开放使得本国面临国际资本的冲击，导致人民币汇率波动幅度加大，使得企业面临交易风险和经济风险，同时，企业的资产负债也会随着汇率的波动而产生损失。对于商业银行来说，随着跨境贸易人民币结算和资本账户开放，商业银行持有的外币资产增加，，商业银行将面临巨大的汇率风险、管理风险以及资产负债管理风险。第五章对全文做了总结。在资本账户开放进程中，应该注意防范企业和商业银行实行跨境贸易人民币结算所面临的微观风险，保证资本项目有序、渐进、稳定地开放。为了防范资本账户开放进程中微观主体使用跨境贸易人民币结算所面临的风险，保证人民币国际化的顺利实现，我国应加大科技创新，增强企业产品竞争力；完善金融机构服务机制，简化跨境贸易人民币结算业务流程；渐进开放资本账户，保证人民币回流渠道；完善人民币形成机制，保证人民币币值相对稳定；深化金融体制改革，加强金融监管。
[Abstract]:Since the pilot of cross-border trade RMB settlement in several cities in Shanghai, Guangzhou, Shenzhen and other cities in July 2009, the scale of cross-border trade settlement has been expanded, and the pilot is expanded to the whole country in August 2011. Although RMB settlement in cross-border trade has achieved certain results, the current part of China's capital account is still in return. There is a strong capital control, which makes the overseas RMB no reflux channels, and can not get the value and increase value, thus hindering the further development of RMB settlement in cross-border trade.
The scope of RMB settlement in cross-border trade has been expanded to the whole country to mark the progress of the internationalization of RMB. On the other hand, in the fifth Plenary Session of the 17th CPC Central Committee, the "convertibility of capital account is gradually realized" to the "12th Five-Year" development plan. It is clear that China is advancing the opening of capital account steadily and studying the opening of capital account. The relationship between the RMB settlement of cross-border trade and the impact of the opening of capital account on the settlement of RMB in cross-border trade is of great significance to further advance the settlement of RMB in cross-border trade and to better promote the internationalization of RMB.
On the basis of previous research, this paper, from the micro point of view, studies the risks faced by the two micro bodies of enterprises and commercial banks in the RMB settlement of cross-border trade in the process of the gradual opening up of the capital account, and puts forward the corresponding policy proposals for the existing problems, including five chapters. The contents are as follows:
The first chapter is the introduction, which mainly analyzes the background and significance of this paper, and summarizes the relevant literature, and lists the main innovation points and shortcomings.
The second chapter discusses the relationship between capital account opening and cross-border trade RMB settlement. Capital account opening and cross-border trade RMB settlement are both important processes in the process of RMB internationalization. The opening of capital account is beneficial to increase the return mechanism of capital and promote the use of RMB in cross-border trade settlement. The settlement made the RMB "going out", the opening of capital account and the "flow back" of the RMB, which ensured the two-way smooth flow of the RMB and further promoted the internationalization of the RMB.
The third chapter analyses the effect of capital account opening on RMB settlement in cross-border trade. The opening of capital account has both positive and negative effects on RMB settlement in cross-border trade. On the one hand, the opening of capital account opening widens the return channel of RMB, which can meet the needs of enterprises to realize the investment and value preservation of RMB and increase the value of RMB. The acceptability of RMB has promoted the implementation of RMB settlement in cross-border trade. On the other hand, the opening of capital account may lead to the rapid inflow of short term capital and the impact of capital impact. The exchange rate fluctuations caused by the capital impact will increase the risk of the use of RMB settlement by the enterprise, and produce a settlement of RMB in cross-border trade. Negative effects.
The fourth chapter focuses on the risks faced by enterprises and commercial banks in the use of cross-border trade RMB settlement in the process of capital account opening. The opening of capital account will lead to some risks in the micro subject of cross-border trade RMB settlement. For enterprises, the opening and placing of capital account makes the country face the impact of international capital. The fluctuation of RMB exchange rate increases, making enterprises face transaction risk and economic risk. At the same time, the assets and liabilities of enterprises will be lost with the fluctuation of exchange rate. For commercial banks, commercial banks will face huge amount of foreign currency assets held by commercial banks with the opening of RMB settlement and capital account in cross-border trade. Exchange rate risk, management risk and asset liability management risk.
The fifth chapter makes a summary of the full text. In the process of opening up the capital account, we should pay attention to the prevention of the micro risks faced by enterprises and commercial banks in the implementation of cross-border trade RMB settlement, so as to ensure the orderly, gradual and stable opening of the capital account in order to prevent the use of the cross-border trade of RMB settlement in the process of capital account opening. In order to ensure the smooth realization of the internationalization of RMB, China should increase scientific and technological innovation, enhance the competitiveness of enterprises, improve the service mechanism of financial institutions, simplify the business process of RMB settlement in cross-border trade, open up the capital account, guarantee the reflux channel of RMB, perfect the formation mechanism of RMB and guarantee the value of RMB. To stabilize, deepen the reform of the financial system and strengthen financial supervision.

【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.6

【引证文献】