摘要
2015年我国跨境资金流动由顺转逆，判断形势变化背后的主要因素具有重要意义。经过分析，跨境资金流出主要是非直接投资引起。其中，外债尤其是本币外债去杠杆是首因。当前，外债去杠杆已有时日，虽消耗外汇储备，但并不影响国际投资头寸，也有利于减少货币错配，各界应客观看待这一过程。
China has seen capital outflow rather than inflow in 2015. To determine the major reasons underlying this change is of significant importance. After analysis, cross-border outflow is mainly caused by non-FDI outflow, among which, external debt deleveraging especially reduction of RMB asset holdings by non-residents is the primary reason. External debt deleveraging, which has taken place for a bit of time, has caused the drop in foreign exchange reserve, but has not affected international investment position and is helpful in alleviating the currency mismatch. We shall assess capital outflow objectively.
出处
《中国货币市场》
北大核心
2016年第5期33-35,共3页
China Money
