海南自贸港发展离岸金融的分歧、建设框架与路径  

Divergence,Construction Framework and Path ofDeveloping Offshore Finance in Hainan Free Trade Port

作　　者：王方宏[1] 王少辉 WANG Fanghong;WANG Shaohui(Hainan Financial Research Institute Bank of China,Haikou 570102,China)

机构地区：[1]中国银行海南金融研究院,海南海口570102

出　　处：《南海学刊》2025年第2期32-44,共13页The Journal of South China Sea Studies

基　　金：海南省马克思主义理论研究和建设工程专项课题(2022HNMGC09)。

摘　　要：离岸金融是指一国金融机构向非居民提供的金融服务,其核心特征在于交易货币的自由兑换与跨境资金流动的便利性。在离岸金融市场的属性、货币选择、账户依托及监管制度适用等问题上,学术界、实务界存在较大的分歧,一定程度上影响着海南离岸金融的发展进程。海南离岸金融市场建设的整体框架可以人民币业务为重点,依托EF账户,逐步实现从在岸管理向离岸管理转变,并与国际规则对接,推动人民币国际化和金融开放。建议海南自贸港突出制度创新,与时俱进推动社会各界对离岸金融概念的理解;以EF账户为载体,完善金融基础设施功能;以财资中心为切入点,吸引境外客户;以境外贷款为重点,丰富EF账户的使用场景;以跨境资管为抓手,吸引境外金融机构入驻;完善税收等配套政策。The offshore finance refers to the financial services provided by financial institutions of a country to non-residents,and its core feature lies in the free exchange of transaction currencies and the convenience of cross-border capital flows.There are big differences between academics and practitioners on the attributes of offshore financial market,currency selection,account reliance and the application of regulatory system,which to a certain extent affects the development process of Hainan’s offshore finance.The overall framework of Hainan’s offshore financial market construction can focus on RMB business,relying on EF accounts,gradually realizing the transformation from onshore management to offshore management,and docking with international rules to promote the internationalization of RMB and financial openness.It is suggested that Hainan Free Trade Port highlights system innovation,promotes the understanding of offshore finance concept by all sectors of the society with the times.It takes EF account as the carrier,improves the function of financial infrastructure,takes treasury center as the entry point,attracts offshore customers.It suggests the finance focuses on offshore lending,enriches the use of EF account scenarios,takes cross-border capital management as a platform to attract offshore financial institutions to invest in the area and improves the tax and other supporting policies.

关 键 词：自由贸易港 离岸金融 多功能自由贸易账户 金融开放 人民币国际化 

分 类 号：F831.7[经济管理—金融学]