CAJ | 학술논문

中欧货币互换协议是中欧央行在货币金融领域合作的最新法律实践。它除具有政府间货币互换协议的一般特性外，还具有自身的特征：体现了中国与欧盟之间加强货币合作的共同意愿；设定了人民币与欧元之间的互换安排；关系着中国与整个欧元体系成员国之间的流动性互助机制。该协议的产生，是后危机时代国际货币体系改革、世界经济格局变化、中欧经贸关系发展以及人民币离岸中心竞争等多种因素综合作用的结果。它的实施，有利于促进中欧双边贸易与投资便利化、增强中欧金融市场稳定性、推动人民币国际化进程，但同时也给中国带来一系列挑战。中国应直面挑战，深化货币体制改革、完善金融市场建设、加强金融风险监管、促进人民币离岸中心建设。
중구화폐호환협의시중구앙행재화폐금융영역합작적최신법률실천。타제구유정부간화폐호환협의적일반특성외，환구유자신적특정：체현료중국여구맹지간가강화폐합작적공동의원；설정료인민폐여구원지간적호환안배；관계착중국여정개구원체계성원국지간적류동성호조궤제。해협의적산생，시후위궤시대국제화폐체계개혁、세계경제격국변화、중구경무관계발전이급인민폐리안중심경쟁등다충인소종합작용적결과。타적실시，유리우촉진중구쌍변무역여투자편리화、증강중구금융시장은정성、추동인민폐국제화진정，단동시야급중국대래일계렬도전。중국응직면도전，심화화폐체제개혁、완선금융시장건설、가강금융풍험감관、촉진인민폐리안중심건설。
The bilateral currency swap agreement between China and the European Union （EU） is the latest legal practice between the People＇s Bank of China （PBOC） and the European Central Bank （ECB） in the field of monetary and financial cooperation. Besides general features of currency swap agreements between the governments, it also has its own characteristics： it reflects the official will of monetary cooperation between China and the EU; the swap line is between RMB and euroit relates with the mutual liquidity assistance mechanism between China and all member countries of the euro system. The swap arrangement has been established in the context of the international monetary system reform in post-crisis era, changes of the world economic pattern, rapidly growing bilateral trade and investment between the euro area and China and the competition to build offshore RMB centre in Europe. This agreement could be beneficial to bilateral trade and investment facilitation between China and the EU, enhancing the stability of financial markets and contributing to internationalization of RMB, but it will bring a series of challenges to China as well China should face the challenges, try to deepen the reform of the monetary system, perfect the financial market construction, strengthen the supervision of financial risks and promote the construction of an offshore RMB centre.