畅通“大宗商品贸易—期货市场—人民币国际使用”循环体系的思考  

Thought on Promotion of the Commodity Trade-Futures Market-International Use of RMB Cycle

作　　者：潘宏胜 武佳薇 Pan Hongsheng;Wu Jiawei

机构地区：[1]中证金融研究院 [2]中证金融研究院期货与衍生品研究部

出　　处：《国际经济评论》2022年第3期89-101,6,共14页International Economic Review

摘　　要：从美元、欧元、日元等国际货币的发展历程看,大宗商品贸易、期货市场和货币国际化之间相互支撑、互相促进。2009年以来,中国国内期货市场对外开放和大宗商品贸易领域人民币国际使用稳步扩大,但与人民币国际化进程尚未形成有效的良性互动关系。“十四五”时期,人民币国际化面临新的发展机遇,应以畅通“大宗商品贸易—期货市场—人民币国际使用”的大循环为着力点,大力发展国内期货市场和扩大对外开放,拓宽大宗商品人民币计价、结算等国际使用的范围和深度,加快提升金融机构市场竞争和服务的能力,强化开放条件下金融监管能力建设,完善相关法治和政策环境,进一步扩大人民币国际化的市场基础。The development of international currencies,such as the US dollar,the euro and the Japaneseyen,shows that commodity trading,futures markets and currency internationalization havealways supported and promoted each other.Since 2009,China’s domestic futures market andthe international use of RMB in commodity trade have been steadily expanding,but they havenot yet led to an effective and positive interaction with internationalization of RMB.During the14 th Five-Year Plan period(2021-25),China faces new opportunities to promote RMBinternationalization,and the focus should be put on the promotion of the commodity trade-futures market-international use of RMB cycle.China should vigorously develop its domesticfutures market and expand its opening-up,broaden the scope and depth of international use ofRMB in terms of commodity pricing,accelerate steps to improve the market competitivenessand service capacity of financial institutions,strengthen the financial supervision capacityamid opening-up,and improve relevant legal and policy environment to further expand themarket basis for RMB internationalization.

关 键 词：人民币国际化 大宗商品定价话语权 期货市场 

分 类 号：F752[经济管理—国际贸易] F724.5[经济管理—产业经济] F832.6