| 摘要: | 由於中國經濟的高速發展，人民幣的國際地位也在日益提升，人民幣國際化已成為中國政府在國際貨幣金融領域的核心發展戰略，建立離岸人民幣中心一方面能夠增加人民幣離岸流通量以及流動速度，一方面亦可謂中國金融改革開放預作緩衝。
本文透過借鑒和總結國際上成功的離岸金融中心的發展經驗，分析發展離岸金融中心所需具備條件，然後結合中國具體情況，在基於人民幣國際化的大背景下，期盼能達成以下研究目的：
一、藉研究國際離岸金融中心發展歷程，瞭解形成人民幣離岸中心所需具備條件。
二、探討人民幣離岸中心政策緣起與實施狀況。
三、研究主要人民幣離岸中心發展成果，並分析未來潛力。
四、研判未來人民幣離岸中心發展趨勢。
本研究有以下三點結論：
一、一個地區欲成為欲成為人民幣離岸中心，須具備健全金融市場體制、稅收優惠、政經穩定，以及須經中國政府許可成立人民幣清算中心，並形成一定人民幣資金池規模，最終離岸市場發展仍取決於市場需求。
二、目前前五大人民幣離岸中心為香港、新加坡、倫敦、紐約、台灣，其中，香港人民幣業務綜合發展程度最高、倫敦以人民幣外匯交易見長、新加坡擁有人民幣債券交易和貿易融資產品方面優勢、臺灣則因「五緣」相近，積累較大規模人民幣資金池。
三、香港擁有中國官方政策支持，今後勢必持續作為最重要的人民幣離岸中心，而倫敦憑恃成熟金融市場、時區、政策優勢，可望成為人民幣外匯和資產跨境交易最重要的離岸樞紐。
Abstract：
Due to China''s rapid economic development, international status is also rising RMB,RMB internationalization has become the core of the development strategy the Chinese government in the international monetary and financial fields, and develop offshore center of RMB on the one hand can increase circulation and flow rate , while also described China''s financial reform and opening up as the pre-buffering.
This article by reference and summarize the successful experience of international offshore financial center development, analysis of the development of offshore financial centers have the required conditions, and then combined with China''s specific conditions, in the context of the internationalization of RMB-based, look forward to achieve the following research Purpose:
First, take the study of international offshore financial center development, to understand the formation required of offshore RMB center conditions.
Second, investigate the origin of the RMB offshore center policy and implementation status.
Third, the development of offshore RMB center study results and analysis of future potential.
Fourth, the future trend judged offshore RMB center.
This study has the following three conclusions:
First, One area want to become an offshore center of RMB, must have a sound financial market system, tax incentives, political and economic stability, and is subject to Chinese government approval RMB clearing center was established, and a certain pool of money the size of RMB offshore market,then the final development still depends on market demand.
Second, the current top five offshore center of RMB are include Hong Kong, Singapore, London, New York, Taiwan, where the highest combined level of development of RMB business in Hong Kong, London, known in RMB foreign exchange transactions, Singapore has RMB bond trading and trade finance products advantages, Taiwan due to "Wuyuan" similar to the accumulation of large-scale RMB funds pool.
Third, Hong Kong has a Chinese official policy support, the future is bound to continue as the most important of the RMB offshore center, London bet on financial markets mature, time zone, and policy, is expected to be RMB foreign exchange and cross-border transactions of the most important assets of the offshore hub. |
