중ㆍ홍콩 무역업자의 무역결제시 위안화 선호도에 관한 연구

Abstract

In this study we drew conclusions for the international trade settlement between Korea and China by investigating the preference of Hong-Kong residents for Chinese Yuan as the key currency in the trade between China and Hong-Kong. The questionnaire was designed to ask about convenience, value stability, and liquidity of Yuan, and businessmen who were engaged in foreign trade at Hong-Kong participated in this survey. Since the subprime crisis began in the US, the Chinese government has driven the policy for the internationalization of Yuan, including the international trade settlement through Yuan. Even though the international trade settlement through Yuan was not successful, as of November 2009, because of its technical problems, insufficient follow-up actions, ill-refined foreign exchange control procedures, general difficulty in money exchange, and preference of importers for US dollars, the empirical study showed that Yuan was highly preferred as the key currency in the trade between China and Hong-Kong. The conclusions drawn from the role of Yuan as the key currency in the trade between China and Hong-Kong are as follows: First, using Yuan and/or Won as the key currency in the trade between Korea and China would prevent trade-shrinking due to the shortage of US dollars. Second, businessmen who are engaged in the trade between Korea and China would expect the convenience of currency increased by using Yuan and/or Won. Third, the risk of foreign exchange loss would be decreased by using Yuan and/or Won because the currency value of Yuan would be relatively stable compared to US dollars. Fourth, the role of Yuan as the key currency in foreign trade would be increased in the near future, and the necessity of relying on US dollars would be relatively decreased. Finally, the systems and procedures that are related to using Yuan and/or Won as the key currency in the trade between Korea and China should be well established.