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新兴市场国家应该从国别、区域与全球三个层面应对资本流入造成的不利冲击。现阶段中国政府应采取的对策包括:人民币汇率升值、增强汇率形成机制弹性、冲销式干预、实施与国际接轨的宏观审慎监管、通过增加有效供给来抑制资产价格过快上涨、提高现有资本项目管制措施的有效性、审慎开放新的资本项目、积极推进东亚区域货币合作并努力争取领导权、积极支持IMF改革、FSB的职能拓展与全球金融安全网的构建。
Emerging market countries should deal with the adverse impact of capital inflows at the national, regional and global levels. The measures that the Chinese government should take at this stage include: the appreciation of RMB exchange rate, the flexibility of exchange rate formation mechanism, the sterilized intervention, the implementation of macro-prudential regulation in line with international standards, the suppression of excessive asset price increases and the increase of existing capital projects by increasing effective supply Effective control measures, prudently opening up new capital projects, actively promoting monetary cooperation in the East Asian region and striving for leadership, and actively support the reform of the IMF, the expansion of FSB functions and the establishment of a global financial safety net.