论人民币汇率安排是否构成WTO框架下专项性补贴  

On The Feasibility of the Assumption Whether RMB Exchange Rate Arrangement Constitutes the Specific Subsidy under the WTO Framework

作　　者：谢皓[1] 韩勋[1] 

机构地区：[1]武汉大学WTO学院,湖北武汉430072

出　　处：《上海金融》2012年第8期9-15,116,共7页Shanghai Finance

基　　金：教育部人文社会科学基金项目"跨国并购中的技术溢出;风险防范与我国的经济安全"(11YJC790216);国家社科基金项目"我国对美国高技术产品出口竞争力评价及影响因素研究"(12CGJ030);武汉市社科基金项目"基于循环经济的武汉市产业集群发展模式研究"(11014);武汉大学"70后"计划项目(09ZZKY056)

摘　　要：人民币汇率问题是一个值得关注的热点问题,相关研究结论莫衷一是。本文从WTO协定入手,首先指出,WTO在汇率争端问题上将向IMF寻求技术支持,IMF内部的"汇率问题顾问组(CGER)"将发挥至关重要的作用。而事实上,CGER对人民币汇率的认定是实质性低估。随后,通过对WTO历往判例的考察,笔者认为在汇率低估的状态下,中国的外汇指定银行很有可能被认定为公共机构,通过结售汇服务向出口企业提供了财政资助,并且授予了一项利益,因此构成了WTO补贴与反补贴措施协定(SCM协定)第1.1条a项第1款所列举的情形(i)所指代的补贴。而在其专项性审查中,这种补贴以出口实绩为授予的条件之一,可能构成了SCM协定第3.1条a项所界定的禁止性补贴。而且,GATT第15条第9款中的"外汇限制"、"外汇管制"范围比较窄,无法适用于汇率争端,更无法被援引为SCM义务的例外。The exchange rate of Renminbi has long aroused hot discussions yet so far no consensus has reached.The thesis turns to the WTO agreements and holds that Consultative Group for Exchange Rate,CGER of IMF is of great importance by referring to WTO's seeking for IMF's technical supports in dealing with its internal disputes on exchange rate.However in fact,the exchange rate of RMB is substantially undervalued by CGER.Based on the analysis of the previous cases of WTO,the thesis contends that under this circumstances China's designated foreign exchange banks are easily considered public institutions to support the exporters financially via Forex Sale and Purchase Business.In return,these banks confer a benefit which constitutes the subsidy as defined by SCM Article 1.1:a(1)(i).In the following review about 'specificity',this subsidy is also explained 'contingent,in fact,on 'export performance'' as defined by SCM Article 3.1(a) because it takes export performance as one of conditions to confer.Furthermore,GATT XV(9) may be not applicable for exchange rate dispute and not quoted as an exception to SCM.

关 键 词：SCM协定 汇率低估 汇率补贴 人民币汇率安排 

分 类 号：F830[经济管理—金融学]