上海建立人民幣離岸中心的動力機制和政策選擇
發(fā)布時間：2018-11-23 09:52
【摘要】：近年來,隨著人民幣國際化進程的加快,人民幣跨境資本流動的增長,人民幣離岸中心的建立已經到了有實質性進展的前夕。而上海作為中國以“四個中心”建設為目標,且已經有相當基礎的城市來說,建立發(fā)展離岸金融市場是它的必由之路。關于上海建立離岸金融中心的必要性研究已經有很多學者進行了探討,但是具體來說,現階段上海發(fā)展離岸中心還存在哪些問題,而是否存在足夠的動力機制能夠促進上海解決這些問題?這是本文主要探討的問題。 首先,就上述的動力機制,本文提出了上海發(fā)展離岸中心所應當遵守的發(fā)展路徑,確定了上海離岸中心發(fā)展的目標模式應是,區(qū)域金融中心以及區(qū)域性的離岸金融中心,是在未來十年內建成一個離岸人民幣的產品中心。保持現階段自身內地金融中心的地位,完善和健全已有的各類金融市場,成為更大區(qū)域內的金融中心。現階段,在清楚認識到香港是目前最為成形的離岸金融中心的基礎上,合理利用香港軟、硬件資源,加強滬港合作。其次,本文通過國際成形的離岸中心的發(fā)展經驗的分析,總結歸納出他們的共性,并且就倫敦的發(fā)展做了相關性分析,證明了該國貨幣的國際化程度、金融集聚水平、產業(yè)國際化、金融自由化等因素能夠為離岸中心的建立和發(fā)展起到良好的推動作用。而反觀上海,最主要由于國內金融市場的開放度低,很多制度因素制約了上海離岸市場的發(fā)展。但是上海的發(fā)展?jié)摿θ匀皇俏阌怪靡傻摹１疚臉嫿艘粋�上海發(fā)展離岸金融中心的動力機制,從宏微觀角度分析論證了上海的動力,以及動力起作用的機制。最后,本文分別就監(jiān)管、稅收、滬港聯(lián)動等內容提出了相應的政策建議,以期能夠將上海的發(fā)展動力釋放到最大。 但是本文作出的分析大多為純理論上的分析,尚缺少實證數據上的檢驗驗證,隨著上海離岸金融業(yè)務的擴張以及人民幣國際化的深化,出現了實際的數據,就能夠對本文的結論作出驗證。
[Abstract]:In recent years, with the acceleration of RMB internationalization and the growth of cross-border capital flows, the establishment of RMB offshore center has reached the eve of substantial progress. Shanghai, as a city with "four centers" as its goal and already has some foundation, is the only way to establish and develop offshore financial market. Many scholars have discussed the necessity of establishing offshore financial centers in Shanghai, but specifically, what problems still exist in the development of offshore financial centers in Shanghai at this stage? And is there enough dynamic mechanism to help Shanghai solve these problems? This is the main problem discussed in this paper. First of all, on the basis of the above dynamic mechanism, this paper puts forward the development path that should be followed in the development of offshore center in Shanghai, and determines that the target mode of development of offshore center in Shanghai should be regional financial center and regional offshore financial center. Is in the next 10 years to build an offshore RMB product center. To maintain its status as a mainland financial center at present, to perfect and perfect all kinds of existing financial markets, and to become a financial center in a larger region. At this stage, on the basis of clearly recognizing that Hong Kong is the most formed offshore financial center at present, we should make rational use of Hong Kong's software and hardware resources and strengthen the cooperation between Shanghai and Hong Kong. Secondly, through the analysis of the development experience of the international formed offshore centers, this paper sums up their commonalities, and makes a correlation analysis on the development of London, which proves the degree of internationalization of the national currency and the level of financial agglomeration. Industry internationalization, financial liberalization and other factors can play a good role in the establishment and development of offshore centers. On the other hand, the development of offshore market in Shanghai is restricted by many institutional factors, mainly due to the low openness of domestic financial market. But Shanghai's potential remains unquestioned. In this paper, a dynamic mechanism for the development of offshore financial center in Shanghai is constructed, and the motive force and the mechanism of the driving force are analyzed and demonstrated from the macro and micro point of view. Finally, this paper puts forward the corresponding policy suggestions on supervision, taxation, Shanghai-Hong Kong linkage and so on, in order to release the power of Shanghai's development to the maximum. However, most of the analyses made in this paper are purely theoretical and lack the test of empirical data. With the expansion of offshore financial business in Shanghai and the deepening of RMB internationalization, actual data appear. The conclusion of this paper can be verified.
【學位授予單位】：華東師范大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.6
本文編號：2351148
[Abstract]:In recent years, with the acceleration of RMB internationalization and the growth of cross-border capital flows, the establishment of RMB offshore center has reached the eve of substantial progress. Shanghai, as a city with "four centers" as its goal and already has some foundation, is the only way to establish and develop offshore financial market. Many scholars have discussed the necessity of establishing offshore financial centers in Shanghai, but specifically, what problems still exist in the development of offshore financial centers in Shanghai at this stage? And is there enough dynamic mechanism to help Shanghai solve these problems? This is the main problem discussed in this paper. First of all, on the basis of the above dynamic mechanism, this paper puts forward the development path that should be followed in the development of offshore center in Shanghai, and determines that the target mode of development of offshore center in Shanghai should be regional financial center and regional offshore financial center. Is in the next 10 years to build an offshore RMB product center. To maintain its status as a mainland financial center at present, to perfect and perfect all kinds of existing financial markets, and to become a financial center in a larger region. At this stage, on the basis of clearly recognizing that Hong Kong is the most formed offshore financial center at present, we should make rational use of Hong Kong's software and hardware resources and strengthen the cooperation between Shanghai and Hong Kong. Secondly, through the analysis of the development experience of the international formed offshore centers, this paper sums up their commonalities, and makes a correlation analysis on the development of London, which proves the degree of internationalization of the national currency and the level of financial agglomeration. Industry internationalization, financial liberalization and other factors can play a good role in the establishment and development of offshore centers. On the other hand, the development of offshore market in Shanghai is restricted by many institutional factors, mainly due to the low openness of domestic financial market. But Shanghai's potential remains unquestioned. In this paper, a dynamic mechanism for the development of offshore financial center in Shanghai is constructed, and the motive force and the mechanism of the driving force are analyzed and demonstrated from the macro and micro point of view. Finally, this paper puts forward the corresponding policy suggestions on supervision, taxation, Shanghai-Hong Kong linkage and so on, in order to release the power of Shanghai's development to the maximum. However, most of the analyses made in this paper are purely theoretical and lack the test of empirical data. With the expansion of offshore financial business in Shanghai and the deepening of RMB internationalization, actual data appear. The conclusion of this paper can be verified.
【學位授予單位】：華東師范大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.6
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