摘要
"一带一路"和人民币国际化战略为我国外汇期货市场建设创造了新的机遇。为满足一带一路区域内企业的风险对冲需求,促进人民币国际化和资金融通发展,我国有必要建设外汇期货市场。鉴于一带一路战略得到沿线各国和地区的普遍支持;外汇期货的合约设计和制度具有弹性,可以适应不同的外汇管理环境;境内交易所已具备丰富的金融期货交易组织经验,境内外汇期货市场风险可控,我国发展外汇期货市场具有可行性。目前我国可以通过两条产品线建设外汇期货市场:一是建设一个现金交割的交叉汇率期货市场,首先推出欧元兑美元、美元兑韩元等现金交割的外汇期货产品;二是选择合适的国家和交易所,开展人民币兑该国货币期货的国际合作项目,建设人民币外汇期货市场,首先推出人民币兑卢布、人民币兑韩元等产品。同时,应稳步推进外汇期货市场对外开放,促进一带一路区域贸易畅通和资金融通,并通过技术援助和股权合作,建立我国与一带一路沿线国家和地区的外汇现货交易平台。
The“Belt and Road”initiative and RMB internationalization strategy brought us with great opportunity to builtthe foreign currency futures market. To meet the requirement of enterprises in the“Belt and Road”regions to offset the risks andpromote RMB internationalization and capital financing,it is necessary for China to build the foreign currency futures market.The“Belt and Road”initiative is supported by most of countries and regions along the“Belt and Road”;the contract and systemdesign of foreign currency futures is flexible,which can adapt to different environment of foreign currency management;thedomestic exchanges already have abundant experiences in organizing finance futures transaction;the risk of domestic foreigncurrency futures market is under control;and the development of China’s foreign currency futures market is feasible. At present,we can develop China’s foreign currency futures market from such two aspects:first,list such cross-exchange- rate products asEUR/USD,USD/KRW,etc.,which will be settled with cash;and second,choose some suitable countries and exchanges to listsome RMB related products,such as RMB/RUB,RMB/KRW,etc. At the same time,we should steadily promote the open ofChina’s foreign currency futures market,promote the smooth development of trade and capital financing in the“Belt and Road”regions,and establish the cash transaction platform for China and other countries and regions along the“Belt and Road”with thehelp of technical assistance and equity cooperation.
作者
刘道云
LIU Dao-yun(Fudan University,Shanghai200438,China)
出处
《中国流通经济》
CSSCI
北大核心
2016年第8期113-121,共9页
China Business and Market
关键词
一带一路
外汇期货市场
人民币国际化
外汇避险
Belt and Road
foreign currency futures market
RMB internationalization
currency hedging
