全球新型金融危机与中国外汇储备管理的战略调整

本文针对美国次贷危机之后国际金融格局变化,提出全球新型金融危机的概念,阐明新型金融危机独有的特征,指出全球新型金融危机对中国外汇储备的影响。本文的分析显示,在全球新型金融危机背景下,中国外汇储备管理的战略应该向人民币国际化这一方向调整,尽管目前时机尚未成熟,但近年来相关方面的发展已经为人民币将来走向国际化奠定了有利的基础。文章对人民币国际化的实现路径进行了讨论。

New Global Financial Crisis and Strategic Management of China's Foreign Exchange Reserve

This paper proposes a concept of new global financial crisis based on the changes in international financial paradigm after the US subprime crisis.The paper documents unique features of the new crisis and points out the repercussions from the new crisis on China foreign exchange reserve.Empirical analysis in the present study shows that China should adjust its foreign exchange reserve management strategy towards internationalization of RMB under the background of the new global financial crisis.Although the use of RMB as a world currency is still at its early stage,the paper shows that recent developments in relevant aspects have built a solid foundation for the international use of RMB.The article also discusses progressive ways of leading RMB to a world currency.