WTO框架下人民幣匯率補貼論研究
發(fā)布時間：2018-12-11 12:16
【摘要】：近幾年來，有關(guān)人民幣匯率的爭論越演越烈。2000年，日本率先對人民幣匯率發(fā)難，認為人民幣被低估，要求升值。2003年后，美國取代日本成為指責人民幣匯率被操縱的先鋒和主力。美國試圖要求IMF認定中國政府操縱人民幣匯率，但是由于操縱匯率的主觀要件難以認定，IMF拒絕了美國的要求，所以美國轉(zhuǎn)而向WTO尋求制裁中國的可能性，由此造成人民幣補貼論甚囂塵上。本文通過對國內(nèi)外學(xué)者有關(guān)觀點和論證的對比分析，從《SCM協(xié)定》入手，介紹了補貼的相關(guān)理論基礎(chǔ)以及人民幣匯率補貼論的主要內(nèi)容，并分析了人民幣匯率論中涉及到的一些法律問題，得出要想討論人民幣匯率構(gòu)成補貼必須滿足三個前提:必須是影響到國際貿(mào)易的匯率行為;人民幣匯率被低估;WTO有管轄權(quán)。并且在《SCM協(xié)定》下，由于人民幣匯率被低估，人民幣匯率構(gòu)成了財政資助，中國人民銀行通過外匯指定銀行以結(jié)售匯的方式授予了出口商資金，構(gòu)成了資金的直接轉(zhuǎn)移，根據(jù)“匯率問題顧問組（CGER）構(gòu)造的均衡市場匯率，出口商獲得了其在市場條件下所不能獲得的利益，因此構(gòu)成了《SCM協(xié)定》第1.1條a項第1款中（i）項所指的補貼。在專向性審查中，因為此項補貼以出口實績?yōu)闂l件，所以人民幣匯率可能構(gòu)成WTO下的禁止性出口補貼。雖然有這樣的可能性，但是我國仍然應(yīng)該積極地將此案提交到WTO框架內(nèi)去解決，避免美國等西方國家采取國內(nèi)法來解決；另外，提交WTO之后，WTO雖然有管轄權(quán)，但是不能越俎代庖來解決本屬于IMF決定的匯率問題。IMF對匯率問題擁有實質(zhì)管轄權(quán)。GATT15條第9款為符合IMF的外匯措施在違反WTO規(guī)則的情況下提供了例外。由于根據(jù)IMF無法認定中國操縱匯率，所以某種意義上說，即使構(gòu)成出口補貼，也可以成為WTO框架下的豁免。最后，也是最根本的是要逐步加快匯率市場化建設(shè)，，這也是中國匯率制度真正避免被人詬病的方法。本文的研究意義在于認識到了人民幣匯率問題構(gòu)成WTO框架下出口補貼的可能性，并提出了中國面臨這樣的境況可以采取的一些對策。
[Abstract]:In recent years, the debate over the RMB exchange rate has intensified. In 2000, Japan took the lead in criticizing the RMB exchange rate, believing that the RMB was undervalued and demanding appreciation. After 2003, The United States replaced Japan as the vanguard and main force accusing the yuan of being manipulated. The United States tried to ask the IMF to determine that the Chinese government manipulated the RMB exchange rate, but because the subjective elements of the manipulation of the exchange rate were difficult to determine, the IMF rejected the request of the United States, so the United States turned to the WTO for the possibility of sanctioning China. As a result, RMB subsidy theory is rampant. Based on the comparative analysis of the views and arguments of domestic and foreign scholars, this paper introduces the theoretical basis of subsidy and the main contents of the theory of RMB exchange rate subsidy, starting with the "SCM Agreement". It also analyzes some legal issues involved in RMB exchange rate theory and concludes that to discuss RMB exchange rate component subsidies must satisfy three prerequisites: it must be the exchange rate behavior that affects international trade; The renminbi is undervalued; the WTO has jurisdiction. And under the "SCM Agreement," because the RMB exchange rate is undervalued, the RMB exchange rate constitutes financial support. The people's Bank of China, through designated foreign exchange banks, grants the exporter funds in the form of foreign exchange settlement, which constitutes a direct transfer of funds. According to the equilibrium market exchange rate constructed by the Group of Advisers on Exchange rate (CGER), the exporter has obtained benefits that he could not obtain under market conditions and thus constitutes a subsidy referred to in article 1.1 (a) (1) of the SCM Agreement. In the ad hoc review, because the subsidy is conditional on export performance, the renminbi exchange rate could constitute a prohibited export subsidy under the WTO. Although there is such a possibility, our country should actively submit the case to the WTO framework to solve it, and avoid the United States and other Western countries to adopt domestic law to solve the problem. In addition, after submitting the WTO, WTO has jurisdiction, The IMF has substantial jurisdiction over the exchange rate. Section 9 of GATT15 provides an exception for foreign exchange measures in compliance with the IMF rules in case of violation of WTO rules. Because China cannot be held to manipulate its currency under the IMF, it could, in a sense, become an exemption under the WTO, even if it constituted an export subsidy. Finally, the most fundamental is to speed up the construction of exchange rate marketization, which is the real way to avoid being criticized for China's exchange rate regime. The research significance of this paper is to recognize the possibility that the RMB exchange rate constitutes the export subsidy under the framework of WTO, and to put forward some countermeasures that China can take in the face of such a situation.
【學(xué)位授予單位】：上海交通大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：D996.2
本文編號：2372532
[Abstract]:In recent years, the debate over the RMB exchange rate has intensified. In 2000, Japan took the lead in criticizing the RMB exchange rate, believing that the RMB was undervalued and demanding appreciation. After 2003, The United States replaced Japan as the vanguard and main force accusing the yuan of being manipulated. The United States tried to ask the IMF to determine that the Chinese government manipulated the RMB exchange rate, but because the subjective elements of the manipulation of the exchange rate were difficult to determine, the IMF rejected the request of the United States, so the United States turned to the WTO for the possibility of sanctioning China. As a result, RMB subsidy theory is rampant. Based on the comparative analysis of the views and arguments of domestic and foreign scholars, this paper introduces the theoretical basis of subsidy and the main contents of the theory of RMB exchange rate subsidy, starting with the "SCM Agreement". It also analyzes some legal issues involved in RMB exchange rate theory and concludes that to discuss RMB exchange rate component subsidies must satisfy three prerequisites: it must be the exchange rate behavior that affects international trade; The renminbi is undervalued; the WTO has jurisdiction. And under the "SCM Agreement," because the RMB exchange rate is undervalued, the RMB exchange rate constitutes financial support. The people's Bank of China, through designated foreign exchange banks, grants the exporter funds in the form of foreign exchange settlement, which constitutes a direct transfer of funds. According to the equilibrium market exchange rate constructed by the Group of Advisers on Exchange rate (CGER), the exporter has obtained benefits that he could not obtain under market conditions and thus constitutes a subsidy referred to in article 1.1 (a) (1) of the SCM Agreement. In the ad hoc review, because the subsidy is conditional on export performance, the renminbi exchange rate could constitute a prohibited export subsidy under the WTO. Although there is such a possibility, our country should actively submit the case to the WTO framework to solve it, and avoid the United States and other Western countries to adopt domestic law to solve the problem. In addition, after submitting the WTO, WTO has jurisdiction, The IMF has substantial jurisdiction over the exchange rate. Section 9 of GATT15 provides an exception for foreign exchange measures in compliance with the IMF rules in case of violation of WTO rules. Because China cannot be held to manipulate its currency under the IMF, it could, in a sense, become an exemption under the WTO, even if it constituted an export subsidy. Finally, the most fundamental is to speed up the construction of exchange rate marketization, which is the real way to avoid being criticized for China's exchange rate regime. The research significance of this paper is to recognize the possibility that the RMB exchange rate constitutes the export subsidy under the framework of WTO, and to put forward some countermeasures that China can take in the face of such a situation.
【學(xué)位授予單位】：上海交通大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：D996.2
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