建设我国外汇期货市场的思考与探索

发布时间：2018-01-18 03:18

本文关键词：建设我国外汇期货市场的思考与探索　出处：《中国流通经济》2017年04期 　论文类型：期刊论文

【摘要】：我国现有外汇衍生品不能满足外贸企业汇率避险需求,境内中小企业普遍面临外汇"避险难、避险贵"问题;企业外汇避险不到位,汇兑损失巨大;汇率制度改革加剧汇率波动和外汇风险,刺激了境内企业的外汇避险需求。外部形势和内在需求决定了我国应当建设境内外汇期货市场,充分发挥其功能,帮助企业等主体有效规避外汇风险,促进外贸投资稳定增长,推动"一带一路"及相关战略实施。目前来看,可以分两条产品线择机推出外汇期货产品,建设境内统一的外汇期货市场。首先推出现金交割的交叉汇率期货,以此为突破口建立境内交叉汇率期货市场,然后紧密跟踪人民币汇率形成机制与外汇管理制度改革进程以及自贸区政策变化,面向自贸区试点人民币外汇期货。
[Abstract]:China's existing foreign exchange derivatives can not meet the foreign trade enterprises exchange rate risk avoidance demand, domestic small and medium-sized enterprises are generally faced with foreign exchange "risk aversion, risk hedge expensive" problem; Enterprises' foreign exchange risk avoidance is not in place, exchange losses are huge; The reform of exchange rate system intensifies the exchange rate fluctuation and foreign exchange risk, and stimulates the foreign exchange hedge demand of domestic enterprises. The external situation and internal demand decide that China should build the domestic foreign exchange futures market and give full play to its function. Help enterprises and other main bodies to effectively avoid foreign exchange risks, promote stable growth of foreign trade investment, promote "Belt and Road" and related strategy implementation. At present, we can choose two product lines to launch foreign exchange futures products. Build a unified domestic foreign exchange futures market. First, the introduction of cash delivery of cross-exchange rate futures, as a breakthrough to establish a domestic cross-exchange rate futures market. Then it closely tracks the reform process of RMB exchange rate formation mechanism and foreign exchange management system as well as the policy changes of the free trade area and faces the pilot RMB foreign exchange futures in the free trade area.
【作者单位】：上海理工大学管理学院;
【分类号】：F832.6;F724.5
【正文快照】： 一、我国建设外汇期货市场的外部形势全球首个上市离岸人民币外汇期权的交易所。新和内在需求加坡交易所与香港交易所也正致力于2017年底前推出美元/人民币期权产品。(一)离岸人民币外汇期货、期权市场发展迅2015年“8·11”汇改之后,人民币汇率波动进速,势将影响境内人民币汇

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