摘要： 西方在人民币汇率问题上的核心意图在于舍IMF而取WTO的争端解决机制，因此，需要廓清IMF与WTO的关系以确定人民币汇率义务的管辖归属和衡量依据。合理界定二者的关系需要区分外汇措施和汇率安排。由于外汇措施与贸易措施具有交叉重叠的效果，IMF以技术方法界定外汇措施，WTO在外汇措施是否与IMF条款一致的问题上对IMF的管辖权给予充分的吸收。但是，汇率安排属于IMF专属管辖，WTO的有关规定与此无涉。西方对人民币汇率的指控属于汇率安排问题，应由IMF依其协定第4条进行监督，而不应由WTO争端解决机制解决。

关键词: IMF WTO , 人民币汇率 , 管辖归属 , 衡量依据

Abstract: The core intention of the West on Renminbi exchange issue is to forsake IMF and adopt WTO dispute mechanism，thus there is the need to delineate the relation between IMF and WTO to establish the jurisdiction and benchmark for Renminbi exchange rate obligations．Distinction should be made between exchange rate arrangement and exchange measures for such reasonable delineation．Because exchange measures and trade measures have overlapped effect，IMF defines exchange measures using technical approach，WTO considerably corporates IMF jurisdiction on the issue of consistence of exchange measures with IMF provisions．Exchange rate arrangement，however，belongs to the exclusive jurisdiction of IMF，and WTO provisions are not related to it．The accusations by the West against Renminbi fall within the category of exchange rate arrangement，and thus should be decided by IMF according to Article 4 of IMF Agreement，rather than being settled by WTO diSpute settlement mechanism．

Key words: IMF, WTO, relation, Renminbi exchange rate, jurisdiction, benchmark