面对汹涌而至的跨境资金流入，监管层已经开始行动。国家外汇管理局6日最新发布《关于加强外汇资金流入管理有关问题的通知》，从加强银行结售汇综合头寸管理、严查虚假贸易、加大外汇管理核查检查力度等多方面严控外汇资金流入，尤其是防止异常跨境资金流入。 

面对汹涌而至的跨境资金流入,Regulators have already begun to action.The state administration of foreign exchange 6, the latest release[Informed about inflows of foreign exchange management related issues],From strengthening the bank written guarantee comprehensive management positions/Because of the false trade/Strengthen management of foreign exchange verification inspection aspects of strict controls of foreign exchange inflows,Especially to prevent abnormal cross-border capital flows. 

　　央行数据显示，截至今年3月末，中国全口径外汇占款余额约为27.068万亿元，一季度新增外汇占款1.2万亿元，刷新历史纪录。在人民币升值预期的强化以及欧美日量化宽松政策的影响下，国际热钱流入国内的压力正在显著增加。 

The central bankAccording to data,By the end of march this year,China full diameter foreign exchange balance about 27.068 trillion yuan,In the first quarter of new foreign exchange of 1.2 trillion yuan,Refresh the record.In the strengthening of the yuan appreciation expectations, as well as Europe and the United States, under the influence of quantitative easing,International hot money flows into domestic pressure is increased significantly. 

　　这份《通知》全文虽然只有1000字，但是凸显了监管层从企业和银行两个端口来控制跨境资金的流入的意图。 

这份[notice]Although only 1000 words in full,But underscores the regulators from companies and Banks two ports to control cross-border capital inflows. 

　　在企业方面，外汇局将加强对进出口企业货物贸易外汇收支的分类管理，加大对存在异常或可疑情况企业的核查力度，并调整转口贸易项下外汇收支相关政策。《通知》称，将及时对资金流与货物流严重不匹配或流入量较大的企业发送风险提示函，要求其在10个工作日内说明情况。而若企业未及时说明情况或不能提供证明材料并做出合理解释的，将其列为B类企业，实施严格监管。 

在企业方面,Safe will strengthen the trade of goods import and export enterprise classification management of foreign exchange receipts and payments,Increase in abnormal or suspicious case companies for verification,And adjust the foreign exchange receipts and payments under entrepot trade policy.[notice]According to,Will in time for cash flow and goods flow serious don't match or inflow larger enterprise risk warning letter,To show a case within 10 working days.And if the enterprise did not give more details in a timely manner or not provide evidence and make a reasonable explanation,Will it as a class B,Strict supervision. 

　　“分类管理意味着外汇局从总量核查转向更加重视对单笔货物贸易的核查，防范异常资金通过贸易渠道流入境内。”国家行政学院决策咨询部副主任陈炳才在接受《经济参考报》记者采访时表示。 

"Classification management means safe from total inspectors to pay more attention to the single verification of goods trade,To prevent abnormal capital inflow through trade channels."Quoted Chen bingcai, assistant director of the national school of administration decision-making consultation in acceptance[Economic information daily]Reporter in an interview. 

　　而在银行方面，《通知》要求加强银行结售汇综合头寸管理，将银行结售汇综合头寸限额与外汇存、贷款比率挂钩。央行《金融机构外汇信贷收支表》数据显示，截至3月末，境内外汇贷款余额为5618.23亿美元，外汇存款余额为4415.65亿美元，若按该数据计算，则贷存比为127%，高于75%或是100%的参考指标。 

而在银行方面,[notice]Request to strengthen written guarantee comprehensive management positions,Will Banks out comprehensive position limits and foreign exchange deposit/Loan ratio hook.The central bank[Financial institutions credit balance of foreign exchange]According to data,By the end of march,Domestic foreign exchange loan balance of $561.823 billion,Foreign exchange account balance of $441.565 billion,If the calculated on the data,The loan-to-deposit ratio of 127%,More than 75% or 100% of the reference. 

　　国际金融问题专家赵庆明[微博]表示，在人民币升值的背景下，银行有减少手中外汇头寸而结汇成人民币的冲动。统计数据显示，今年2月和3月的央行口径外汇占款均大于金融机构全口径外汇占款。“这意味着这两个月金融机构(央行除外)处于净结汇状态，其当前月的外汇头寸相对上月在减少。”赵庆明说。他称，《通知》可理解为监管层在要求银行持有更多的外汇头寸，让金融机构分担央行的购汇压力，也意在抑制银行境内外汇贷款的过快增长。 

国际金融问题专家赵庆明[微博]表示,Under the background of the appreciation of the renminbi,Banks have to reduce the impulse of the foreign exchange positions and settlement of exchange into RMB.Statistics show that,The size of the central bank in February and march whole caliber foreign exchange foreign exchange were greater than financial institutions."This means that this two months financial institutions(Except the central bank)In a state of net foreign exchange settlement,Foreign exchange positions relative to its current month last month."Help said.He said,[notice]Can be understood as regulators require Banks to hold more foreign exchange positions,Let financial institutions share the bank's remittance and pressure,Also intended to rein in overheating growth of Banks of domestic foreign exchange loans. 

　　实际上在去年，外汇局曾对银行结售汇综合头寸实行正负区间管理，在现有结售汇综合头寸上下限管理的基础上，将下限下调至零以下。“目前国内银行的外汇贷存比大多数高于参考贷存比，因此若要达到《通知》中公式的要求，大多数银行当月结售汇综合头寸必须为正。”国家行政学院决策咨询部副主任陈炳才指出。他指出，若银行想要其外汇头寸下限较低，一个办法是减少其境内外汇贷款量，这也抑制了银行从国外划拨资金到国内发放贷款，从而控制资金流入境内。 

实际上在去年,Safe for Banks to written general position plus or minus range management,In the existing written guarantee comprehensive management on the basis of the positions in upper and lower limits,Will lower down to below zero."At present domestic Banks' foreign exchange ratio of most loan-to-deposit ratio is higher than the reference,So if you want to achieve[notice]Requirements in the formula,Most Banks that month written guarantee comprehensive positions must be positive."Quoted Chen bingcai, assistant director of the national school of administration decision-making consultation pointed out.He pointed out that,If the bank wants its foreign exchange positions lower limit is low,One way is to reduce the domestic foreign exchange loans,It also inhibited the transfer money from abroad to domestic Banks make loans,To control capital inflows. 

　　招商银行分析师刘东亮[微博]在接受媒体采访时也表示，这是首次对银行外汇存贷比单独进行规范，主要是为了限制银行外汇贷款的份额，旨在从银行这一环节遏制资金的套利行为。 

招商银行分析师刘东亮[微博]在接受媒体采访时也表示,This is the first time the bank foreign exchange loan than a separate specification,Mainly to limit bank foreign exchange lending share,Aimed at this link from the bank to curb capital arbitrage. 

　　为了更好地防堵热钱，《通知》还指出，外汇局未来要强化监测分析与窗口指导；对异常资金流入线索，主动开展现场核查或检查；对于使用虚假单证进行套利交易的案件，依法从重处罚；对违反外汇管理规定导致违规资金流入的银行、企业等主体，应依法给予罚款、停止经营相关业务、追究负有直接责任的相关人员责任等处罚，并加大公开披露力度。 

为了更好地防堵热钱,[notice]Also point out that,Safe in the future to strengthen monitoring analysis and window guidance;The abnormal capital inflow clues,Actively carry out the inspection or examination;Carry trade case for using a false documents,Be given a heavier punishment in accordance with the law;In violation of foreign exchange regulations resulted in an illegal money flowing into bank/Companies such as main body,Should be in accordance with the law to give a fine/Stop operation related business/Responsibility shall be investigated for relevant personnel directly responsible and other penalties,And increase the intensity of public disclosure.