香港人民币离岸中心发展的机遇与挑战

香港人民币离岸中心建设已成为高层共识,前景光明,并已取得初步成果。它与内地的金融改革是协同推进的,有助于巩固香港金融中心地位,促进东亚经贸繁荣。来自其他国际金融中心的竞争,以及与大陆金融市场在利率、汇率等核心金融指标上的差异,是香港人民币离岸中心发展的重要挑战。展望其发展,有如下建议:采取适当的财政货币手段化解离岸与在岸市场的利率和汇率差异;循序渐进、逐步完善香港人民币离岸市场的货币功能;打通人民币"回流"和"外循环"的通道,支持香港成为全球人民币资产的交易、清算和定价中心。

The Opportunities and Challenges of Hong Kong RMB Offshore Center Development

The development of Hong Kong RMB offshore center has been a top consensus, bringing a bright future, and has achieved preliminary progress. It is simultaneously coordinated with the financial reform of the mainland and beneficial for consolidating the status of Hong Kong as a financial centre, promoting the economic and trade prosperity of East Asia area. The important challenges facing Hong Kong include the competition from other international financial centers, and the difference in key financial variables as interest rate, exchange rate between Hong Kong and the mainland. For the outlook of Hong Kong RMB offshore center, the following suggestions are proposed: take proper fiscal and monetary measures to alleviate the difference in interest rate, exchange rate between offshore and onshore markets; gradually improve the monetary function of Hong Kong as RMB offshore market; clear the channel of RMB"backflow"and"external circle", supporting Hong Kong to become the trade, clearing and pricing center of global RMB assets.