中国外汇储备规模问题的思考0604.doc

关于中国外汇储备规模问题的思考 内容摘要：近年来我国外汇储备持续快速增长，让人感到欣喜的同时，也引起了国内外的广泛争论。外汇储备是国际货币体系的核心，也是国际金融领域的重要问题，它关系到各国调节国际收支和稳定货币汇率的能力。在开放经济条件下，外汇储备是考察一国对外经济关系的重要指标，它既是宏观经济运行结果的体现，又是宏观经济调控的重要手段。充足的外汇储备对一国外汇收支的调节、维持本国汇率的稳定、增强国际清偿力等起着积极的作用。然而过多的外汇储备对我国经济也产生了诸多负面效应，我国外汇储备的迅猛增长增加了货币政策的操作难度，加剧了国内的通货膨胀并促使人民币升值，同时，也大大增加了储备成本和储备风险。本文旨在分析我国巨额外汇储备的现状，剖析外汇储备形成的原因，并揭示由此带来的影响，在此基础上对缓解我国高额外汇储备提出一些建议。 关键词：外汇储备，成因分析，利弊问题，政策建议 On The Problem of The Scale of Chinas Foreign Exchange Reserve Abstract：Sustained and rapid growth of Chinas foreign exchange reserves in recent years, people rejoice at the same time, high foreign exchange reserves have led to extensive debate at home and abroad. Foreign exchange reserves are the core of the international monetary system, international financial sector is an important issue, it relates to national regulation of international balance of payments and the ability to stabilize the currency exchange rate. In an open economy, foreign exchange reserves are to examine a countrys foreign economic relations, an important indicator, it is an embodiment of the macroeconomic results, but also is an important means of macroeconomic regulation and control. Adequate foreign exchange reserves on a countrys balance of payments adjustment, maintaining the stability of their exchange rate, strengthen the international liquidity and so plays an active role. However, excessive foreign exchange reserves on Chinas economy has also had many negative effects, the rapid growth of Chinas foreign exchange reserves increased difficulty of operation of monetary policy, exacerbated by domestic inflation and to promote appreciation of the RMB, at the same time, greatly increased reserves cost and reserves risk. This paper analyzes the current situation of huge foreign exchange reserves, decomposes of the reasons for the formation of foreign exchange reserves, and reveals the impact of this, and then put forward some suggestions on the basis of reasonable use massive foreign exchange res