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我国对外资产以外汇储备资产为主,对外负债以股权型负债为主,这种资产结构的失衡不利于我国经济的稳定和发展。扩大对外直接投资规模,并没有使货物和服务贸易逆差状态有所缓解,外商直接投资(FDI)的净流入不降反升。总体看,并没有起到改善对外资产结构的作用,这主要是因为对外投资的目的和内在约束出现偏差。我国应将提高对外直接投资的收益优先置于扩大其投资规模之上,在国家层面建立内部约束协调机制,提高其收益率,更重要的是阻止FDI在华投资收益的膨胀。
The foreign assets of our country are mainly foreign exchange reserve assets while the external liabilities are mainly equity ones. The imbalance of this asset structure is not conducive to the economic stability and development of our country. Enlarging the scale of OFDI did not ease the balance of trade in goods and services, and the net inflow of foreign direct investment (FDI) rose instead of down. Overall, it does not play a role in improving the structure of foreign assets, mainly because of the deviation of the purpose and inherent restraint of outward investment. China should give priority to the increase of its foreign direct investment income to expand its investment scale, set up an internal coordination mechanism at the national level to increase its rate of return, and more importantly, prevent the inflow of FDI in China.