CAJ | 학술논문

本文通过剖析人民币跨境使用过程中出现的套利现象，对现存的一系列认识误区进行了针对性辨析，并指出跨境套利活动是货币国际化进程中的必然现象。套利活动并非一无是处，套利过程本身就是市场化过程，是保证市场效率的重要前提，是金融市场开放的必经之路。
본문통과부석인민폐과경사용과정중출현적투리현상，대현존적일계렬인식오구진행료침대성변석，병지출과경투리활동시화폐국제화진정중적필연현상。투리활동병비일무시처，투리과정본신취시시장화과정，시보증시장효솔적중요전제，시금융시장개방적필경지로。
This paper gives a targeted criticism towards a series of misunderstanding that exist now in the arbitrage activity of using cross-border RMB and points out that the cross-border arbitrage is an inevitable phenomenon in curren-cy internationalization process. Arbitrage activity is not completely useless. On the contrary,the arbitrage process itself is the embodiment of the marketization process, an important prerequisite to guarantee the market efficiency, and the only route to liberalization of financial market.