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| 在岸人民币市场与香港离岸人民币市场联动关系的实证研究 | |
| 引用本文： | 张红地,钟祝赞. 在岸人民币市场与香港离岸人民币市场联动关系的实证研究[J]. 江西金融职工大学学报, 2014, 0(4): 8-14 |
| 作者姓名： | 张红地 钟祝赞 |
| 作者单位： | 1. 中国社会科学院 金融研究所,北京,100732 2. 对外经济贸易大学,北京,100029 |
| 摘 要： | 作为国际金融中心，香港为内地的发展提供了举足轻重的金融服务。近年来，我国政府力推人民币国际化，具有完备金融市场的香港成为构建离岸人民币中心、促进人民币国际化进程的排头兵。香港已经建成了规模庞大的离岸人民币市场，这一市场的波动和走势对在岸人民币市场的干扰和影响不可轻视，关乎在岸人民币市场的稳定和国家金融安全。文章分析了在岸人民币市场即期汇率、远期汇率与香港离岸人民币市场即期汇率、远期汇率之间的关系，发现两两之间并不总是存在引导关系。 |
| 关 键 词： | 离岸市场 在岸市场 人民币国际化 |
An Empirical Research on the Interaction between Onshore RMB Market and Hong Kong Offshore RMB Market |
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| ZHANG Hongdi,ZHONG Zhuzan. An Empirical Research on the Interaction between Onshore RMB Market and Hong Kong Offshore RMB Market[J]. Journal of Jiangxi Finance College, 2014, 0(4): 8-14 | |
| Authors: | ZHANG Hongdi ZHONG Zhuzan |
| Affiliation: | ZHANG Hongdi, ZHONG Zhuzan (1. Institute of Finance and Banking, Chinese Academy of Social Sciences, Beijing 100732, China; 2. University of International Business and Economics, Beijing 100029, China) |
| Abstract: | As an international financial center,Hong Kong has been providing significant financial services for economic development of the Mainland. In recent years,Chinese government has been actively promoting the inter-nationalization of RMB. Hong Kong has a complete financial market and it becomes the vanguard in the process of the construction of offshore RMB center. Hong Kong has built a large - scale offshore RMB market,which means that its interference and influence to onshore RMB market should not be underestimated. In other words,Hong Kong offshore RMB market is related to the stability of onshore RMB market and national financial security. This paper analyzes the relationship between the spot（forward）rates in onshore RMB market and spot（forward）rates in Hong Kong offshore RMB market,we find that there is not always a correlation between any two of them. |
| Keywords: | offshore market onshore market the internationalization of RMB |
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