摘要
中国目前在直接投资和资产组合投资项下仍保持宽进严出的不对称管理,其他投资项下资本的流入流出已大幅开放,这是中国现行资本账户管理的重要特点。中国资本账户开放的短期目标可设定为实现中性和平衡的资本账户管理,进一步的目标是对资本账户采取中性无歧视管理原则下的扩大开放。中国已具备扩大开放资本账户的条件,在进一步放开汇率并合理调节利率的情况下,国际收支可能出现有利于可持续发展的经常账户顺差与资本账户逆差相平衡的格局。
China has put in place an asymmetric capital account management mechanism featuring loose control of capital inflow and strict control of capital outflow under the direct investment and portfolio investment accounts.The capital flows under other investment accounts have been largely opened up,which is a main characteristic of China’s existing capital account management.The short-term goal of China’s capital account opening-up can be realization of neutral and balanced capital account management and it can set a longer-term target of expanding the opening up of the capital account in the principle of neutral and non-discriminatory management.It has become feasible for China to further open up its capital account and,with the exchange rate further liberalized and the interest rates properly adjusted,it could see a scenario of balanced current account surplus and capital account deficit,which is more sustainable for its balance of payments.
出处
《国际经济评论》
CSSCI
北大核心
2013年第3期57-64,4-5,共8页
International Economic Review
