人民币升值压力下我国跨国企业外汇风险管理策略

人民币升值压力下我国跨国企业外汇风险管理策略
摘  要：2005年7月21日我国开始实行以市场供求为基础、参考一篮子货币进行调节、有管理的浮动汇率制度以来，人民币升值势头强劲。在此形势下我国涉外企业逐渐面临着前所未有的外汇经营风险压力.成功的企业外汇风险管理对企业经营业绩的稳定、企业的发展、乃至对整个国民经济的发展都具有极大的促进作用。本文介绍了涉外企业面临的三种主要外汇风险以及对应的一般规避策略；通过分析现在我国跨国公司存在的问题，认为跨国公司在内部管理，金融服务，管理政策等方面需要进一步改进，以提高汇率风险管理水平。
关键词：人民币升值；跨国企业；外汇风险；计量与实证分析；管理对策

Foreign exchange risk management for China’s multinational companies under the pressure of CNY appreciation

Abstract: 21ST July, 2005, China adopt the managed floating exchange rate system, since when the CHY maintained a high speed of appreciation, hence China’s multinational companies are facing an unprecedented pressure of the management of foreign exchange risk. As we all know, corporate foreign exchange risk management plays a crucial role within the stabilization of business performance as well as the development of corporation, and a successful foreign exchange risk management can even promote the national economy as a whole. This paper introduces three major foreign exchange risk and their corresponding solutions. Our analysis indicates that in order to improve the capacity of managing foreign exchange risk, several aspects such as internal management and financial services as well as the financial policies should be ameliorated.
Keywords: The appreciation of CNY; Multinational companies; Foreign exchange risks; Measurement and empirical analysis; Management and strategy

目    录

一、引言……………………………………………………………………………1
二、人民币汇率市场趋势下企业面临外汇风险…………………………………1
（一）换算风险………………………………………………………………2
（二）交易风险………………………………………………………………2
（三）经营风险………………………………………………………………3
三、涉外企业汇率风险的一般规避与管理方式…………………………………4
（一）交易风险的规避和管理………………………………………………4
（二）经营风险的规避与管理………………………………………………6
四、完善汇率风险管理的思考及建议……………………………………………8
（一）对于风险规避策略的再思考…………………………………………8
（二）关于结售汇制的思考…………………………………………………9
（三）其他综合政策建议……………………………………………………10
五、结论与建议……………………………………………………………………11
参考文献……………………………………………………………………………13
                                             

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