中国高额外汇储备管理及其币种结构研究

摘要

In the view of the current situation of China’ foreign reserve,this paper put forward the concept of classifying the foreign reserve management—regular reserve management which focuses on liquidity management and excess reserve management which focuses on security and return. The scale and the currency composition of the regular reserve management can be determined by the factors of usage,and the currency composition of excess management can refer to that of the Special Drawing Right issued by IMF. Finally,the paper discusses the new trend of the management of China’s foreign reserve.