The Study On Management And Investment Patterns Of Japanese Foreign Exchange Reserves

In the 21 st century, along with increasingly deepen of trade and economic globalization, the world’s foreign exchange reserves developed very fast, especially China’s foreign exchange reserves grew at more alarming speed. For high foreign exchange reserves management and investment problems are more increasingly concerned by the world. In the world two countries-China and Japan currently have the most foreign exchange reserves, and Japan’s foreign exchange reserves maintained the first in the world for 13 years until in February 2006 being beyond by China, therefore, Japan has the wealth of experience to the high foreign exchange reserves management and investment. At the same time for China and Japan, in the formation process of large-scale foreign exchange reserves there are some similarities. Through studying the management and investment patterns of Japan’s huge foreign exchange reserves, summed up Japanese experience, and learned from Japan’s experience and methods, which is important significance to find and solve the problems of China’s foreign exchange reserves.The paper used the qualitative and quantitative, the theoretical and empirical, combining a lot of data and charts to study the subject. Firstly, the article discussed Japan’s foreign exchange reserves the formation process and scale’s rationality. For Japan’s foreign exchange reserves management pattern, the paper study management agency, management policies, foreign exchange intervention operations and risk management. Then the paper specific analyzed Japan’s foreign exchange reserves investment pattern. It include foreign currency reserve assets portfolio, using foreign exchange reserves to overseas investment strategic, investing East Asia Reserve Pooling, and future investment trends of surplus foreign exchange reserves. Finally, based on the experience of Japan’s large-scale foreign exchange reserves management and investment, and combining with China’s actual situation, the paper gave some positive suggestions for China’s huge foreign exchange reserves management and investment.