我国外汇冲销干预中存在的问题及改革思路  

Problems and Suggestion for Improving to the Exchange Sterilization Operation of China's Central Bank

作　　者：何彦[1] 

机构地区：[1]华中理工大学经济学院,湖北武汉430074

出　　处：《财经研究》2000年第4期14-18,共5页Journal of Finance and Economics

摘　　要：由于国际收支经常项目和资本项目的持续双顺差 ,我国官方外汇储备增长很快 ,目前已成为仅次于日本的第二大外汇储备国。同时 ,巨额外汇储备所形成的外汇占款对中央银行的货币政策产生一定的压力。对此 ,中央银行采取了冲销措施 ,保持了人民币汇率和币值的基本稳定。但是冲销干预的负面效应已经越来越明显地显露出来 ,改革与调整已是大势所趋。本文对外汇冲销实施的背景、效应作了分析 ,并借鉴国外经验 。Due to the successive double favorable balance of both the current account and the capital account in Payment of Balance, the Official Foreign Reserve grows very quickly. Now, China has become the second largest exchange holding country, next only to Japan.At the same time, exchange share in the base currency resulted from huge exchange reserves has posed pressure on the monetary policy of the central bank. So the central bank took sterilization operation to keep the basic stability of RMB's exchange rate and money value. But the adverse effect of the sterilization operation has become more and more apparent, which calls for instant reform and adjustment. This article analyses the background and effect of the exchange sterilization operation,refers to the experience of other countries, and comes up with approaches to current problems.

关 键 词：外汇冲销 外汇占款 冲销干预 中国 改革思路 

分 类 号：F832.2[经济管理—金融学]