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THE STUDY ON THE MONETARY SYSTEM OF HONG KONG AFTER THE RESTORATION TO CHINA

光复后香港货币体系研究

基本信息

批准号：
10630092
负责人：
YOKOUCHI Masao
金额：
$ 1.15万
依托单位：
HOSEI UNIVERSITY
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (C)
财政年份：
1998
资助国家：
日本
起止时间：
1998 至 2000
项目状态：
已结题

来源：
https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-10630092/
关键词：
HONG KONG HONG KONG MONEY MARKET HONG KONG MONETARY AUTHORITY JAPANESE BANK EURO-YEN IMPACT LOAN OFFSHORE MARKET THE HONG KONG BASIC LAW THREE-TIER BANKING SYSTEM ジャパンプレミアム迂回融資オフショア取引国際金融センターインターバンク取引 one building condition /

项目摘要

After the restoration to China, Hong Kong faced two serious monetary problems. First, Linked Exchange Rate System was disturbed by the speculative attack to the Hong Kong Dollar in relation to the East Asian financial crisis and Hong Kong Monetary Authority defended the exchange rate system through the exceptional intervention to the money market. Second, there occurred the rapid decline of Japanese Bank's position in Hong Kong Money Market. In this study, this latter problem was mainly examined.Hong Kong Japanese Banks occupied the dominant market share in Hong Kong money market in the early 1990's. Japanese Banks, especially Country Banks has competitively branched out into Hong Kong and in 1995 the number of Japanese Licensed Banks was forty six which was equivalent to a quarter of all Licensed Banks in Hong Kong. But, after 1997 Japanese Banks has withdrew from Hong Kong and in the end of 2000 only twenty two Japanese Licensed Banks remained. In addition to this withdrawal, Hong Kong Japanese Banks have reduced the roundabout loan through Japan Offshore Market and Hong Kong money market, so called Euro-yen Impact Loan which characterized the Japanese Banks' Hong Kong business.This decline has been reflected of two factors. First factor was the depression of Hong Kong economy that was hit by East Asian crisis. Second factor was the banking crisis in Japan that has been urging the Japanese Banks to reduce their assets worldwidely and to reorganize the world branch networks. The Article 109 of the Hong Kong Basic Law say, the Government of the Hong Kong SAR should maintain the status of Hong Kong as an international financial centre. But, whether this pledge would be observed or not may be depend on the Japanese Banks.

回归中国后，香港面临两个严重的货币问题。首先，联系汇率制度受到东亚金融危机对港元的投机冲击的干扰，而香港金融管理局通过对货币市场的特殊干预来捍卫汇率制度。其次，日本银行在香港货币市场的地位迅速下降。S在九十年代初期，香港的日资银行在香港货币市场占据主导地位。日资银行，特别是乡村银行，竞相进军香港。在一九九五年，日资持牌银行的数目为四十六家，相等於香港持牌银行总数的四分之一。但在1997年后，日本银行纷纷撤出香港，至2000年底，只剩下22家日本持牌银行。除了这次撤资外，香港日资银行亦减少了透过日本离岸市场和香港货币市场提供的回旋贷款，即日资银行香港业务的特色--欧元-日圆影响贷款。第一个因素是受东亚金融危机打击的香港经济低迷。第二个因素是日本的银行业危机促使日本银行在全球范围内削减资产，并重组全球分行网络。《香港基本法》第一百零九条说，香港特别行政区政府应保持香港国际金融中心的地位。但是，这一承诺是否会得到遵守，可能取决于日本银行。