讀書報告之人民幣的國際化

1、 讀書報告之人民幣的國際化 Book report on the internationalisation of the RenminbisummaryOutline 人民幣國際化含義：Meaning of internationalisation人民幣國際化的發(fā)展現(xiàn)狀：Current situation of internationalization of RMB 人民幣國際化的基礎(chǔ)和可能性：Basis for internationalisation and possibilities人民幣國際化的意義：The internationalisation of the significanc

2、e對于實(shí)現(xiàn)人民幣國際化的一些建議：Some of the recommendations for achieving the internationalisation ofPublic commentSelf commentconclusion一個地方的崛起，靠的是強(qiáng)大的經(jīng)濟(jì)，而經(jīng)濟(jì)活動的中心在金融。The rise of one place, and is relying on the strong economy, Centre of economic activity in finance.人民幣成為國際貨幣，是中國真正邁入世界強(qiáng)國之林的驗(yàn)證指標(biāo)，對于減少匯價風(fēng)險、促進(jìn)國際貿(mào)易發(fā)展、提升

3、中國國際地位具有重要意義。The Yuan as an international currency, China into the real world of our validation indicators, to reduce exchange rate risks, promoting the development of international trade and enhance China's international status is of great significance.因此，我們應(yīng)給予人民幣國際化以相當(dāng)?shù)年P(guān)注，采取適當(dāng)措施促進(jìn)人民幣國際化。Theref

4、ore, we should give considerable attention to internationalisation, to take appropriate measures to promote the internationalization of RMB.下面就讓我為大家講一下我的心得體會！Let me tell you about my experience!人民幣國際化的含義： the intended meaning of the internationalisation:人民幣國際化是指人民幣能夠跨越國界，在境外流通，成為國際上普遍認(rèn)可的計價、結(jié)算及儲備貨幣的過

5、程。Internationalisation means the Yuan would transcend national boundaries, in foreign currency, becoming generally accepted valuation, settlement and international reserve currency.人民幣國際化的具體含義包括三個方面：Specific meanings of the internationalisation covers three aspects:第一，是人民幣現(xiàn)金在境外享有一定的流通度；First, cash e

6、njoys a certain degree of circulation in foreign countries;第二，是以人民幣計價的金融產(chǎn)品成為國際各主要金融機(jī)構(gòu)包括中央銀行的投資工具，為此，以人民幣計價的金融市場規(guī)模不斷擴(kuò)大；Second, Renminbi-denominated financial products to become the major international financial institutions, including the Central Bank's investment vehicle, to this end, the Renmin

7、bi-denominated financial markets have been expanding;第三，是國際貿(mào)易中以人民幣結(jié)算的交易要達(dá)到一定的比重。Thirdly, in international trade settled in Renminbi transactions must reach a certain proportion.人民幣國際化的發(fā)展現(xiàn)狀： the internationalisation of the situation:Second, the internationalisation of the situation:(1)在新加坡、馬來西亞等國家，人民

8、幣的流通使用主要是伴隨旅游業(yè)的興起而得到發(fā)展的。(1), Singapore, and Malaysia and other countries, currency in circulation was primarily associated with the rise of tourism, development.在這些國家可以用人民幣購買商品的購物店越來越多，可以用人民幣兌換本國貨幣的兌換店和銀行也開始出現(xiàn)。In these countries you can use RMB to buy merchandise shopping more and more, you can use

9、the Renminbi currency exchange bureaux and banks are starting to appear. (2)在中越、中俄等邊境地區(qū)，人民幣的流通使用主要是伴隨著邊境貿(mào)易、邊民互市貿(mào)易、民間貿(mào)易和邊境旅游業(yè)的發(fā)展而得到發(fā)展的。(2) in border areas such as Vietnam, China and Russia, circulation of the RMB is mainly associated with the border trade and border trade, frontier trade, civil

10、development of tourism be developed.在一定程度上說，人民幣已經(jīng)成為一種事實(shí)上的區(qū)域性貨幣。To some extent, said the Renminbi has become a de facto regional currency.(3)在中國的香港和澳門地區(qū)，人民幣的兌換和使用相當(dāng)普遍(3) in China's Hong Kong and Macau, RMB exchange and are quite common.。據(jù)專家估算，目前在香港流通的人民幣已達(dá)700多億元，成為僅次于港幣的流通貨幣。According to experts

11、' estimates, at more than 70 billion yuan currently circulating in Hong Kong of, become second only to the sum of currency in circulation. 由此可見，人民幣已經(jīng)在一定程度上被中國周邊國家或地區(qū)廣泛接受，人民幣國際化處于漸進(jìn)發(fā)展的階段。This shows that the Yuan has to a certain extent, is widely accepted by neighboring countries or regions

12、in China, progressive development of internationalisation in stages. 2.主要障礙2. main obstacles人民幣國際化道路上仍然存在眾多障礙。RMB internationalization still exist many obstacles in the way目前影響人民幣國際化的主要因素包括：The main factor currently affecting the internationalisation, including:人民幣國際流通量增長不足；Yuan international l

13、iquidity growth is not enough;國內(nèi)金融市場深度、廣度和國際標(biāo)準(zhǔn)化程度不足；Lack of depth, breadth and international standardization in domestic financial markets;國際化過程中人民幣對外價值可能發(fā)生巨大變動，妨礙經(jīng)濟(jì)政策自主性。External value of RMB internationalization process could dramatically change, obstruct economic policy autonomy.人民幣國際化的基礎(chǔ)和可能性：Thi

14、rd, the internationalisation of the background and its possibilities:1.經(jīng)濟(jì)實(shí)力和綜合國力的不斷增強(qiáng)使人民幣的國際地位不斷提高。1. economic strength and comprehensive national strength and constantly enhance the international status of the Yuan rising. 新中國建立以來，特別是1978年以來中國發(fā)生了前所未有的深刻變革Since the founding of new China, especi

15、ally since 1978, China has made unprecedented and profound changes，國內(nèi)生產(chǎn)總值、進(jìn)出口總額、國家外匯儲備快速增長，我國綜合國力顯著增強(qiáng)。Gross domestic product, total imports and exports, the country's foreign exchange reserve growth, significant increase in China's comprehensive national strength.專家普遍認(rèn)為，今后10年中國經(jīng)濟(jì)仍將保持較快的發(fā)展速度，

16、這就為人民幣成為被世界各國和地區(qū)可以放心使用的貨幣奠定了堅實(shí)基礎(chǔ)。Experts generally agreed that the next 10 years, China's economy will maintain relatively fast development speed for the Yuan to be used by the countries and regions of the world can be assured that money has laid a solid foundation. 2.人民幣幣值的穩(wěn)定為推進(jìn)人民幣國際化創(chuàng)造了前提

17、條件。2. the stability of the Renminbi to internationalise has created preconditions. 中國長期以來實(shí)行穩(wěn)定的貨幣政策，為人民幣樹立了較高信譽(yù)，深受周邊國家和地區(qū)的歡迎。China has implemented a stable monetary policy, for the Renminbi to establish a high reputation, deeply welcomed in neighboring countries and regions.近幾年治理通貨膨脹，維持人民幣幣值的對內(nèi)穩(wěn)

18、定和對外穩(wěn)定成效顯著。In recent years to curb inflation, maintain internal stability and external stability in the renminbi is working.在金融危機(jī)中，人民幣也保持了匯價穩(wěn)定，為人民幣奠定了牢固、可靠的信用基礎(chǔ)，為推進(jìn)人民幣國際化創(chuàng)造了前提條件。In the financial crisis, the Yuan will keep the exchange rate stable, Yuan laid a solid and reliable credit Foundation, cr

19、eated preconditions for internationalise. 3.中國政府高度重視，使人民幣國際化邁出積極的步伐。3. the Chinese Government attaches great importance to take positive steps to internationalize the Yuan.              4.中國-東盟自由貿(mào)易區(qū)的建立為人民幣境外流通提供了廣闊空間。4. the e

20、stablishment of the China-ASEAN free trade area to provide RMB overseas circulation space.   自由貿(mào)易區(qū)的建立將使東盟對中國出口、中國對東盟的出口大幅增長。Establishment of the free trade area ASEAN's exports to China, China's exports to ASEAN rose sharply.貿(mào)易投資的快速發(fā)展催生了人民幣的境外需求。The rapid development of trade and i

21、nvestment has spawned the Yuan's external demand.在人民幣匯率穩(wěn)定的前提下，一些與中國貿(mào)易、投資往來頻繁、數(shù)額較大的國家和地區(qū)，愿意接受人民幣作為計價結(jié)算貨幣On the premise of RMB exchange rate stability, and China's trade, investment, travel, larger countries and regions, and be willing to accept renminbi-denominated currency.。比如在越南、泰國、緬甸等國的貿(mào)易中

22、，人民幣事實(shí)上已經(jīng)成為結(jié)算貨幣之一。For example in Viet Nam, and Thailand, Myanmar and other countries in trade, the Yuan has in fact become a medium of Exchange. 5.人民幣在香港地區(qū)的廣泛流通和使用為人民幣國際化提供了有益經(jīng)驗(yàn)。5. the widespread availability and use of the renminbi in Hong Kong provides useful experience for internationalisati

23、on. 2003年11月，中國人民銀行發(fā)布公告：為在香港辦理人民幣存款、兌換、匯款和銀行卡業(yè)務(wù)的銀行提供清算服務(wù)。In November 2003, the people's Bank of China issued a notice: Hong Kong renminbi deposit-taking, Exchange, remittances and credit card business of the Bank to provide clearing services.內(nèi)地居民可以使用內(nèi)地銀行發(fā)行的人民幣銀行卡到香港用于消費(fèi)支付和在自動取款機(jī)上提取港元現(xiàn)鈔，香港居民

24、也可以使用香港銀行發(fā)行的人民幣銀行卡到內(nèi)地用于消費(fèi)支付和在自動取款機(jī)上提取人民幣現(xiàn)鈔等等。Mainland residents may use RMB bank cards issued by Mainland banks to pay for consumption in Hong Kong and at automated teller machines to extract Hong Kong dollar banknotes, Hong Kong residents can also use the RMB bank cards issued by banks in Hong Kong

25、 to the Mainland for consumption cover and extract RMB cash withdrawal at the ATMs and so on.這些辦法和政策對人民幣的境外流通作了嘗試，也為人民幣的境外流通提供了有益經(jīng)驗(yàn)。These approaches and policies on renminbi circulating outside the attempt, also provided useful experience for Renminbi circulating outside. 6.中國擁有日漸健全的金融體系、完善的金融市

26、場6. China has a sound financial system, improve the financial market隨著中國人民銀行向世界先進(jìn)中央銀行的目標(biāo)邁進(jìn)，商業(yè)銀行不良資產(chǎn)的加速處理，經(jīng)營管理水平的不斷提高，業(yè)務(wù)創(chuàng)新能力的顯著增強(qiáng)，一個健全的金融體系正在逐步的形成。With the people's Bank of China to move towards the goal of the Central Bank of the world's most advanced, accelerated processing of banks ' n

27、on-performing assets, the continuous improvement of management level, significantly enhanced the ability of business innovation, a healthy financial system is gradually being formed.實(shí)現(xiàn)貨幣國際化最為主要的是要建立功能完善的外匯市場，尤其是離岸金融市場。Realization of currency internationalization is the most important one is to build

28、 a fully functional Exchange, particularly off-shore financial market.從全國整體的經(jīng)濟(jì)實(shí)力和經(jīng)濟(jì)金融環(huán)境看，我國目前已具備建立離岸金融中心的條件。From the national economic and financial environment and overall economic strength, China has established conditions in offshore financial centres.只要我國建立起相當(dāng)規(guī)模的國際金融市場，成為國際離岸金融業(yè)務(wù)中心，就為我國參與世界經(jīng)濟(jì)循環(huán)提

29、供了重要條件和工具，使人民幣國際化更具現(xiàn)實(shí)意義。As long as China built up a sizable international financial markets and as an international offshore financial center, provide important conditions for our participation in the world economic cycle and tools so that internationalisation is more realistic. 人民幣國際化的意義：Signi

30、ficance of RMB internationalization:（1）人民幣的國際化有助于提升我國的國際影響和貨幣話語權(quán) (1) the internationalisation of the Renminbi would increase the country's international influence and money right of discourse人民幣國際化后，中國就擁有了一種世界貨幣的發(fā)行和調(diào)節(jié)權(quán)，對全球經(jīng)濟(jì)活動的影響和發(fā)言權(quán)也將隨之增加，一旦成為國際貨幣體系的重要組成部分，對全球經(jīng)濟(jì)的穩(wěn)定和增長也會做出重要的貢獻(xiàn)。After the in

31、ternationalization of RMB, China will have rights to a world currency issuance and regulation, impact on global economic activity and voices also increased, once an important part of the international monetary system, stability and growth for the global economy will also make an important contributi

32、on.  （2）人民幣國際化可以有效地避免國際收支危機(jī)(2) the internationalisation of the Renminbi could effectively avert a balance of payments crisis 當(dāng)一國貨幣成為國際貨幣后，該國可以發(fā)行以本幣計價的金融工具，這就為本國企業(yè)創(chuàng)造了一個能在很大程度上規(guī)避金融危機(jī)的融資方式。When a country's currency as international currency, which can be issued in local currency-deno

33、minated financial instruments, this for domestic enterprises to create a can to a large extent to avoid financial crisis financing.如果中國的企業(yè)和政府能夠在國際上發(fā)行以人民幣計價的債券，那么，即使人民幣匯率發(fā)生波動，中國的企業(yè)和政府也不用擔(dān)心發(fā)生國際收支危機(jī)，因?yàn)橹袊膫鶆?wù)人(企業(yè)或政府)的收入和債務(wù)在匯值上是對等的，都是人民幣，不存在人民幣收入和外幣債務(wù)的不對稱性問題，這是人民幣國際化所能帶來的一大好處。 If China of enterprise

34、and Government can in international Shang release to Yuan pricing of bonds, so, even Yuan currency occurred fluctuations, China of enterprise and Government also without worried occurred international payments crisis, because China of debtor (Enterprise or Government) of income and debt in sinks val

35、ue Shang is peer of, are is Yuan, not exists Yuan income and foreign currency debt of not symmetric sexual problem, this is Yuan internationalization by can brings of a big benefits.  （3）人民幣的國際化有利于國內(nèi)企業(yè)規(guī)避匯率浮動的風(fēng)險(3) the internationalisation of the renminbi is conducive to domestic enterprise

36、s to avoid the risk of exchange rate fluctuations 人民幣升值，對出口利潤率不高的企業(yè)的打擊將是致命的The Renminbi, not high profit margins on exports of companies blow would be fatal.。因?yàn)橥瑯佣嗟耐鈪R換回的本幣數(shù)量少了。如果人民幣成為國際貨幣，那么，中國許多企業(yè)的進(jìn)出口業(yè)務(wù)可以更加方便地要求以人民幣計價，當(dāng)然這還要取決于我們的議價能力。Because the same amount of foreign currency in Exchange for

37、the small amount of local currency.If the Renminbi as an international currency, then, many Chinese enterprises can more easily be required to import and export business of RMB-denominated, of course, this also depends on our ability to bargain.這樣一來，我國企業(yè)的銷售和成本都按人民幣來計算，外貿(mào)與內(nèi)貿(mào)沒有區(qū)別，匯率波動的風(fēng)險自然推給了外方，其好處是顯而

38、易見的。In this way, our corporate sales and costs in Renminbi terms, foreign trade and domestic trade does not differ from risks onto the foreign exchange rate fluctuations, the benefits are obvious.  （4）人民幣的國際化有利于增強(qiáng)我國貨幣政策的自主性(4) the internationalisation of the renminbi is conducive to enhanc

39、e autonomy of monetary policy in China 有時為了維持人民幣匯率的穩(wěn)定，央行被動入市，買入或者賣出外匯。Sometimes, in order to maintain the stability of the RMB exchange rate, Bank of passive intervention buying or selling foreign exchange.比如幾年來，我國國際收支持續(xù)多年雙順差，為了吸收流入的外匯，央行不得不大量投放基礎(chǔ)貨幣，這與當(dāng)時我國國內(nèi)流動性過剩情況下從緊的貨幣政策是背道而馳的。In recent years

40、, our balance of payments for many years double surplus, in order to absorb the inflow of foreign exchange, the Central Bank had to launches of base, and excess liquidity situation of our tight monetary policy is the opposite.經(jīng)濟(jì)調(diào)控內(nèi)外均衡面臨著沖突，削弱了我國貨幣政府的自主性。人民幣的國際化有利于我國內(nèi)外均衡的協(xié)調(diào)發(fā)展，有利于增強(qiáng)我國貨幣政策的自主性Economic

41、regulation, internal and external equilibrium facing conflict, weakening our currency, independent of the Government.The internationalisation of the renminbi is conducive to coordinated development of China's internal and external equilibrium, conducive to enhancing China's monetary policy a

42、utonomy對于實(shí)現(xiàn)人民幣國際化的一些建議：Four, for the achievement of the internationalisation of some personal recommendations:Public comment:1、 大力鼓勵和推動外貿(mào)企業(yè)與境外貿(mào)易伙伴以人民幣結(jié)算。1, to encourage and promote foreign trade enterprises and foreign trade partners in rmb2、 .在境外，主要是在香港，可以較大力度地擴(kuò)大人民幣計價的債券市場的規(guī)模，推進(jìn)以人民幣計價的股票市場，利用香港國際金融

43、中心的優(yōu)勢，不斷擴(kuò)大以人民幣計價的金融資產(chǎn)的規(guī)模以及交易水平。2, overseas, mainly in Hong Kong, greater efforts to expand the scale of RMB-denominated bond market, advancing the Yuan-denominated stock market, take advantage of Hong Kong International financial center, expanding the scale of renminbi-denominated financial assets a

44、nd trading levels.3、 擴(kuò)大人民幣跨境貿(mào)易結(jié)算試點(diǎn)范圍：3, the expansion of renminbi cross-border trade settlement pilot scope:除了上海、廣州、深圳、珠海、東莞等城市之外，將邊境貿(mào)易較大的省份也納入試點(diǎn)范圍；Apart from Shanghai, Guangzhou, Shenzhen, Zhuhai, Dongguan and other cities outside large border trade of the province under its scope; 4、 建立和完善跨境人

45、民幣資金支付清算機(jī)制，以轉(zhuǎn)賬支付代替現(xiàn)鈔支付，為跨境貿(mào)易人民幣計價結(jié)算提供清算平臺；4, establish and perfect the mechanisms for cross-border RMB funds to pay settlements, in transfer payments instead of cash, to provide renminbi-denominated cross-border trade settlement platform;5、 .我國貨幣當(dāng)局可以與人民幣跨境流通規(guī)模較大的周邊國家和地區(qū)的貨幣當(dāng)局簽訂協(xié)議，允許其在一定額度內(nèi)將人民幣兌換成美元、歐

46、元等國際貨幣，以提升周邊國家和地區(qū)居民對人民幣的信心；China's monetary authorities and the larger cross-border circulation of RMB monetary authorities of the neighboring countries and regions signed an agreement, allowing it to a certain amount in RMB to the dollar, the euro and other international currencies in order to

47、enhance the confidence of residents in neighboring countries and areas on the Yuan;6、 建設(shè)以香港為基地的人民幣離岸金融中心，作為我國資本項目尚沒有完全開放之前的一個過渡性安排，以消除境外機(jī)構(gòu)缺乏人民幣投資與避險工具的障礙。6, construction to be based offshore financial centres, as China's capital account is not yet fully open before a transitional arrangement in

48、order to eliminate barriers to foreign institutions lack of RMB investment and hedging tool. 7、 繼續(xù)積極創(chuàng)造人民幣國際化的政治、經(jīng)濟(jì)條件。7, continue to actively promote internationalisation of the political and economic conditions.中國經(jīng)濟(jì)必須持續(xù)穩(wěn)定增長并在亞洲地區(qū)保持領(lǐng)先地位，繼續(xù)保持人民幣幣值的相對穩(wěn)定，這是人民幣國際化的基礎(chǔ)。Must be sustained and steady eco

49、nomic growth in China and to maintain its leading position in the region, continue to maintain the relative stability of the Yuan, which is the basis for internationalisation.同時，加強(qiáng)與周邊國家和地區(qū)高層政府間的交流，成為國際經(jīng)濟(jì)活動的重要參與者和推動者。At the same time, strengthening the high-level intergovernmental exchanges with neig

50、hboring countries and regions, who became an important participant in international economic activities and promote.從而消除周邊國家和地區(qū)對我國的擔(dān)心和疑慮Eliminates peripheral countries and regions of our fears and anxieties.。進(jìn)一步加強(qiáng)與周邊國家和世界各國的直接投資與貿(mào)易，改進(jìn)金融服務(wù)，加強(qiáng)對人民幣跨境流通的統(tǒng)計監(jiān)測，設(shè)立人民幣自由兌換試驗(yàn)區(qū)。Further strengthen with the neig

51、hboring countries and all over the world direct investment and trade, improve financial services, strengthening statistical monitoring of cross-border circulation of RMB, RMB free exchange zone established.這是推動人民幣國際化的重要力量。This is to internationalise the major force. Self comment: 1、 逐

52、步實(shí)現(xiàn)人民幣在資本項目下的自由兌換1, the Yuan under the capital account convertibility gradually 針對中國的實(shí)際情況， 在促進(jìn)資金流入方面， 對于外商直接投資可逐漸實(shí)行外國直接投資的匯兌自由；China's actual situation, role in promoting capital flows, foreign direct investment can be gradually introduced freedom of Exchange in foreign direct inv

53、estment;可逐步適當(dāng)放寬外國投資者在中國金融市場上的投資， 加大證券資本的流入；Can gradually relaxed foreign investors ' investment in China's financial markets, increase the inflows of portfolio capital;在對待資本流出方面，應(yīng)完全放松境內(nèi)居民、機(jī)構(gòu)對海外投資的限制。In the case of capital outflows should be completely relax restrictions on overseas inve

54、stment by domestic residents, bodies. 總之， 當(dāng)前我們加快推進(jìn)人民幣資本項目可兌換，可以進(jìn)一步促使人民幣國際化，為人民幣自由兌換奠定必要基礎(chǔ) All in all, we accelerate the Renminbi capital account convertibility, can further promote the internationalisation of the Renminbi, RMB free exchange to lay the necessary foundation 2、逐步完善資

55、本市場體系 2, and gradually perfecting the capital market system完善資本市場體系, 必須首先完善中國的金融體系。 健全的金融體系是貨幣國際化的有力保證。具體包括多元化、國際化的金融機(jī)構(gòu)和功能齊全的金融市場。Perfecting the capital market system, you must first improve China's financial system.Sound financial systems is a strong guarantee of currency interna

56、tionalization.Includes a wide range of financial markets, international financial institutions and fully functional.而如果中國建立起相當(dāng)規(guī)模的國際金融市場,成為國際離岸金融業(yè)務(wù)中心,通過接受以人民幣計價的短期流動性較強(qiáng)的負(fù)債,向國際上提供長期流動性較弱的貸款 , 借以提高國際清算能力和貨幣轉(zhuǎn)換能力,就為我國參與世界經(jīng)濟(jì)循環(huán)提供了重要條件和工具,使人民幣國際化更具現(xiàn)實(shí)意義。And if China built up a sizable international

57、 financial markets, as an international offshore financial center, by accepting the short-term liquid liabilities denominated in Renminbi, weak long-term liquidity loans to international, which will increase capacity for international settlement and currency conversion capabilities, provide importan

58、t conditions for our participation in the world economic cycle and tools so that internationalisation is more realistic. 3、 逐步完善人民幣匯率市場 3, gradually improve the RMB exchange rate markets在人民幣國際化的過程中, 人民幣匯率是金融穩(wěn)定的重要內(nèi)容。人民幣自由兌換及其合理的匯率形成機(jī)制都有賴于完善有效的外匯市場In the process of internationalisa

59、tion of the Renminbi exchange rate are important elements of financial stability.RMB free exchange and its reasonable exchange rate formation mechanism will depend on effective foreign exchange market.。如果人民幣經(jīng)常處于高估或者低估的狀態(tài), 會引起人民幣投機(jī)資金的頻繁跨境流動, 這種投機(jī)性的人民幣跨境流動除了會導(dǎo)致我國貨幣供給量的頻繁波動外, 還很可能會導(dǎo)致人民幣的

60、匯率在短時間內(nèi)做較大幅度的調(diào)整, 對經(jīng)濟(jì)的沖擊很大。If the constant state of overvalued or undervalued renminbi, would cause the currency of frequent cross-border speculative money flows, such speculative cross-border renminbi flows in addition to frequent fluctuations can result in monetary supply in China, it is likely to lead to the Renminbi's exchange rate also make large changes in a short time, impact on the economy is very big.所以我國應(yīng)該建立更為主動的匯率形成機(jī)制, 逐步向意愿結(jié)匯過渡, 逐步放松國家對外匯市場的直接管制, 真正形成由市場起基礎(chǔ)性作用