摘要
持续有序地扩大金融开放是新时代中国对外开放格局的重要内容,而资本项目可兑换在金融改革开放中处于核心地位。针对30年来中国政府出台并采取的一系列促进资本开放的政策和措施进行分析可知,相对于发达国家和部分发展中国家,中国资本开放的程度依然较低,进程也相对缓慢,亟须加快改革步伐。资本项目可兑换改革必然伴随着国际资本的流动,会对资本市场、货币市场和实体经济产生一定程度的影响,因此需要关注国际金融风险的传递和暴露。从区位和国情看,日本、韩国、俄罗斯和巴西四国在资本开放方面的经验做法,能为我国进一步推进资本项目可兑换改革提供有益借鉴,主要集中在注重资本项目开放顺序、延长资本项目开放时间以及加强资本项目账户的风险防范等方面。
Continuously and orderly expanding financial openness is an important part of China opening-up in the new era,and capital account convertibility holds a core position in the reform and opening-up of the financial sector.Despite a series of policies and measures adopted by the Chinese government to promote capital openness over the past thirty years,the level of China capital openness remains relatively low compared to developed countries and some developing countries,and the progress has been relatively slow,requiring an acceleration of the reform process.The reform of capital account convertibility is inevitably accompanied by the international flow of capital,which will have an impact on capital markets,money markets,and the real economy,thus it is necessary to pay attention to the transmission and exposure of international financial risks.From the perspective of location and national conditions,the experience and practices of Japan,Korea,Russia and Brazil in the area of capital openness can provide valuable references for further advancing the reform of capital account convertibility in China,highlighting the importance of the order of capital account openness,prolonging the duration of capital account openness,and strengthening the risk prevention of the capital account.
作者
张海军
ZHANG Haijun(School of Economics and Law,Chaohu University,Hefei,238024,Anhui;School of Economics,Fuyang Normal University,Fuyang,236037,Anhui)
出处
《蚌埠学院学报》
2025年第3期103-107,共5页
Journal of Bengbu University
基金
安徽省哲学社会科学规划项目(AHSKQ2022D023)
安徽高校哲学社会科学重点科研项目(2022AH051692)
巢湖学院学科建设质量工程重点研究项目(XWZ202406)。
关键词
资本项目可兑换
金融开放
金融风险
跨境资本流动
capital account convertibility
financial openness
financial risk
cross-border capital flow
