{"profile":{"code":"CN","nameZh":"中国","nameEn":"China","region":"东亚","incomeGroup":"中高收入（示意）","lastUpdated":"2026-Q1 教学演示","dataSources":["IMF World Economic Outlook（WEO）— 课堂对接用","World Bank World Development Indicators（WDI）","国家外汇管理局 / 人民银行公开数据（正式研究请下载原版）","PostgreSQL · nextfinance.nf_indicator（含 NextLab trade_lab.adb_data 镜像）"],"snapshot":{"gdpRealGrowthPct":4.9773565917572,"inflationCpiPct":0.218128938439177,"policyRatePct":3.1,"reservesUsdBn":3456.02480873912,"currentAccountPctGdp":2.2616499482671,"tradeShareGdpPct":37.1984201388065},"capital":{"fdiNetUsdBn":33,"portfolioNetUsdBn":-12,"hotMoneyProxyNote":"「热钱」并无统一定义；课堂可用短期外债变动、错误与遗漏项、银行跨境同业等构建多指标面板，强调解释而非单一数值。","narrative":"直接投资净流入仍体现产业链与市场规模优势；组合投资波动更反映利差、全球风险情绪与预期。可与 NextLab 国别依赖度对照，讨论「金融账户—经常账户」联动。"},"risk":{"externalDebtPctGdp":16,"reserveImportMonths":14,"currencyPressure":"medium","narrative":"外债率总体可控，但房地产与地方平台的历史债务链条、美元融资成本与出口波动仍可能叠加为「信用收缩 + 汇率预期」双通道压力。"},"policyContext":"有管理的浮动 + 资本项目可兑换稳步推进 + 宏观审慎工具箱（外汇风险准备金、跨境融资宏观审慎参数等）。教改强调：把中间价形成机制、离岸与在岸价差、政策沟通纳入同一叙事。","teachingNotes":["对外经济贸易大学国际金融可与「国际结算」「跨国公司金融」共享案例：同一汇率冲击下的企业套保决策。","要求学生用三元悖论框架解释：若坚持汇率稳定与资本流动，哪类国内目标最难兼顾？","与《国际贸易实务》联动：报价币种、锁汇条款、信用证货币与融资币种的一致性。"],"fxFocus":[{"pair":"USD/CNY","note":"在岸中间价 + 离岸 CNH 价差可作为「预期与管制」的课堂观测对象。"},{"pair":"CFETS 指数","note":"拓展阅读：有效汇率与双边汇率背离时的企业体感差异。"}]}}