2009年通过一系列的“10+3”财长会议，清迈倡议的多边化得到了实质性的推进，建立区域外汇储备库被认为是清迈倡议多边化具有重要意义的突破，这不但有助于当前全球金融危机下东亚地区的金融稳定，而且为以后的区域金融合作奠定了更坚实的基础。为此，有必要对清迈倡议做较为详细的分析，以回答如下问题：清迈倡议是怎样形成的？双边货币互换的内容是什么？为什么要推进清迈倡议的多边化？清迈倡议未来发展怎样？等等。其中，针对清迈倡议未来发展，本文从清迈倡议自身、东亚金融合作、区域金融合作还是国际货币体系三个方面进行了分析。
In 2009 there are a series of ASEAN Plus Three Finance Ministers’ Meetings convened to implement the Chiang Mai Initiative Multilateralisation （CMIM），of which the common acknowledge on establishment of regional foreign exchange pool is regarded as a breakthrough and substantial progress for Chiang Mai Initiative （CMI）. Therefore，it is significant to give a carefully analysis on the following concerns of CMI：how has CMI come into being？What is the bilateral currency swap agreement （BSA）？How has the CMIM evolved？What is the future of CMI？Etc.. With regard to those aspects，the passage conducts a comprehensive analysis and concludes that the future of CMIM will be determined by three kind of questions concerning CMI itself，East Asian financial cooperation，regionalism of finance or the international monetary system.
| Keywords： | Chiang Mai Initiative （CMI）Bilateral Currency Swap Agreement （BSA）The Chiang Mai Initiative Multilateralisation （CMIM）Regional Foreign Exchange Pool |
