中文摘要：

随着我国成为美国第一债权国，我国外汇储备结构面临各种风险。其风险包括期限错配带来流动性风险、中美利差出现倒挂的利率风险、美元贬值比例带来的汇率风险、美国隐形主权信用风险、投资收益损失风险等。为了有效地应对及管控我国外汇储备结构所面临的风险，选取美国财政部2014年4月公布Report on Foreign Portfolio Holdings of U.S. Securities报告中以及国际货币基金组织（IMF）金融统计数据库的黄金储备排名表中的数据，并整理。同时借鉴上述数据中先进发达国家的一些做法，得出以下决策：增加海外股权投资、逐步减低美元在外汇资产中的比重、优化外汇内部结构、降低持有长期债券占总投资额的比重、适当增加欧元在外汇储备中的比重、适当提高黄金储备的比例等；有利于完善我国外汇储备风险管理水平，更好平衡期望收益做大化和风险之间的关系，对政府决策具有重要的参考价值和现实意义。

英文摘要：

As China has become the United States first creditor nation, China＇s foreign exchange reserves are faced with various risks. The risks include the maturity mismatch bring liquidity risk, Sino US spreads appear upside down the interest rate risk, exchange rate risk brought about by the proportion of depreciation of the dollar, the United States invisible sovereign credit risk, investment profit and loss risk. In order to effectively deal with and control of China＇s foreign exchange reserve structure facing risk, select the Treasury in April 2014 released the report on foreign portfolio holdings of gold U.S.Securities, the report and the International Monetary Fund （IMF） finan-cial statistics database storage by ranking the data in the table, and finishing. And learn from some of the practices of the advanced devel-oped countries, this paper draws the following decision：increasing overseas equity investment, gradually reduce the proportion of US dollar in the foreign exchange assets, optimize the foreign internal structure, reduce holding long-term bonds accounted for the proportion of the total investment, appropriate to increase the euro in foreign exchange reserves, the proportion of appropriate to raise the proportion of gold reserves etc. is conducive to the improvement of China＇s foreign exchange reserves, the level of risk management and the relationship be-tween better balance the expected gains bigger and risk, decision-making of the government has important reference value and practical significance.