中韓貨幣互換協(xié)議未能續(xù)簽

China and South Korea have failed to extend their $56bn currency swap deal amid diplomatic tension over Seoul’s instalment of a controversial US missile shield.

中國(guó)和韓國(guó)未能續(xù)簽560億美元的貨幣互換協(xié)議。目前兩國(guó)之間圍繞首爾方面安裝有爭(zhēng)議的美國(guó)反導(dǎo)系統(tǒng)一事出現(xiàn)外交緊張。

The extension of the eight-year-old deal had been seen as a yardstick for relations between the two neighbours, which have frayed over Seoul’s deployment of the Terminal High Altitude Area Defence despite Beijing’s opposition.

這個(gè)持續(xù)已8年的協(xié)議能否續(xù)簽，此前就被視為兩個(gè)鄰國(guó)之間關(guān)系的標(biāo)尺。首爾方面頂住北京方面的反對(duì)，部署了“末段高空區(qū)域防御系統(tǒng)”(THAAD，中文簡(jiǎn)稱(chēng)：薩德)，此舉引起兩國(guó)關(guān)系緊張。

South Korean officials said talks were continuing with China about renewing the deal, although experts remained sceptical about the possibility of resuming the swap.

韓國(guó)官員表示，正在繼續(xù)同中方進(jìn)行續(xù)簽貨幣互換協(xié)議的談判，盡管專(zhuān)家們?nèi)再|(zhì)疑挽救該協(xié)議的可能性。

“As we talk, expiration isn’t all that important and negotiations are still taking place,” Lee Ju-yeol, Bank of Korea governor, said on Tuesday, hours before the deal expired. “我們?cè)谏陶?，到期并不是那么重要，談判仍在進(jìn)行中，”韓國(guó)央行(Bank of Korea)行長(zhǎng)李柱烈(Lee Ju-yeol)周二在該協(xié)議到期數(shù)小時(shí)前表示。

South Korean officials have expressed hopes for the extension of the swap, which has been regarded as a financial safety net that helps stabilise the won — often seen as a play on global growth — in case of external shocks.

韓國(guó)官員已表示希望續(xù)簽這一貨幣互換協(xié)議，該協(xié)議被視為一個(gè)金融安全網(wǎng)，有助于韓元(往往被視為全球經(jīng)濟(jì)增長(zhǎng)的風(fēng)向標(biāo))在受到外部沖擊的情況下企穩(wěn)。

“The extension of the swap is beneficial for our economy,” said Kim Dong-yeon, South Korean finance minister. “China, too, is deeply interested [in extending the deal], given [its role] in making the renminbi an international reserve currency.”

“續(xù)簽這個(gè)貨幣互換協(xié)議對(duì)我國(guó)經(jīng)濟(jì)有利，”韓國(guó)財(cái)政部長(zhǎng)金東兗(Kim Dong-yeon)表示。“鑒于它使人民幣成為一種國(guó)際儲(chǔ)備貨幣的作用，中國(guó)對(duì)此也深感興趣。”

The two countries first signed a currency swap worth $26bn in 2009 to steel themselves amid the global financial crisis. The deal was expanded to $56bn in 2011 and has since been extended twice. It was South Korea’s biggest currency swap that accounts for about 45 per cent of its swap arrangements.

兩國(guó)最初在2009年簽署了價(jià)值260億美元的貨幣互換協(xié)議，以抵御全球金融危機(jī)。該協(xié)議在2011年擴(kuò)大至560億美元，而且自那以來(lái)已續(xù)簽兩次。此前它是韓國(guó)最大的貨幣互換協(xié)議，占其全部互換安排約45%。

But talks to renew it have been complicated by China’s ire over the Thaad system, which has sparked Beijing’s economic retaliation against South Korean companies operating in China. Beijing believes the missile defence system’s powerful radar can be used to spy on its territory.

但是中國(guó)對(duì)薩德的憤慨使得進(jìn)一步續(xù)簽的談判復(fù)雜化。部署薩德已促使北京方面對(duì)在華經(jīng)營(yíng)的韓國(guó)企業(yè)發(fā)起經(jīng)濟(jì)報(bào)復(fù)。北京方面認(rèn)為，這種導(dǎo)彈防御系統(tǒng)的強(qiáng)大雷達(dá)可能被用來(lái)偵察中國(guó)領(lǐng)土。

“It won’t be easy to renew the deal as China continues to have a negative perception of our country because of the Thaad deployment. I doubt if Beijing will separate economics from politics,” said Lee Sang-jae, economist at Eugene Investment & Securities, a brokerage.

“續(xù)簽這個(gè)協(xié)議不會(huì)容易，因?yàn)椴渴鹚_德使中國(guó)繼續(xù)對(duì)我們國(guó)家持負(fù)面看法。對(duì)于北京是否會(huì)將經(jīng)濟(jì)與政治分開(kāi)，我表示懷疑，”券商尤金投資證券(Eugene Investment & Securities)經(jīng)濟(jì)學(xué)家李相宰(Lee Sang-jae)表示。

China has signed bilateral swap agreements with more than 30 central banks since 2008 as it seeks to promote greater international use of the renminbi for trade and investment. The facilities are designed to ensure that both sides have access to foreign currency trade finance in periods of financial stress, when market-based funding can dry up.

自2008年以來(lái)，中國(guó)與30多家央行簽署了雙邊貨幣互換協(xié)議，以求促進(jìn)國(guó)際上更多地使用人民幣進(jìn)行貿(mào)易和投資。這類(lèi)安排旨在確保雙方在承受金融壓力、市場(chǎng)融資可能枯竭的時(shí)期可以獲得外匯貿(mào)易融資。

China’s Global Times, a state-backed daily newspaper, said on Tuesday that political tensions made the deal’s renewal uncertain. “It is more likely that the deal will be suspended temporarily because of the declining investment and trade between the two countries make it meaningless to maintain the swap,” Dong Dengxin, director of the Finance and Securities Institute at Wuhan University of Science and Technology, told the newspaper.

政府背景的中國(guó)《環(huán)球時(shí)報(bào)》周二表示，政治緊張給中韓貨幣互換協(xié)議的續(xù)簽帶來(lái)不確定性。武漢科技大學(xué)金融證券研究所所長(zhǎng)董登新對(duì)該報(bào)表示，該協(xié)議更有可能被暫時(shí)擱置，因?yàn)閮蓢?guó)間的投資和貿(mào)易下滑，使得維持貨幣互換協(xié)議沒(méi)有意義。

The PBoC did not immediately respond to a request for comment on Wednesday.

中國(guó)央行周三沒(méi)有立即回應(yīng)記者的置評(píng)請(qǐng)求。