随着中国经济不断发展，在人民币国际化与资本账户日趋开放的大趋势下，制定合理的经济政策促进经济稳定发展，是现阶段中国面临的重大课题，故在三元悖论视角下研究中国经济体系制度的选择具有重要的现实意义。本文从历史角度出发，阐述三元悖论理论基础与产生原因，进而结合中国实际情况分析理论存在性、非角点解拓展及“三元”选择。基于三元悖论的框架，联系“一带一路”战略背景与人民币国际化进程，探讨新时代下中国过去经济政策的适用性，采用多元回归模型对资本账户开放度影响因素进行实证分析并提出相关结论建议，以期为中国新时代下“三元”选择、推动资本账户稳定开放、促进国内经济进一步融入世界经济提供一定的借鉴思路。

关键词：三元悖论、汇率制度、货币政策、资本账户开放度

With the continuous development of China's economy, under the general trend of RMB internationalization and the increasing opening of the capital account, formulating reasonable economic policies to promote stable economic development is a major issue facing China at this stage. It is of great practical significance to study the choice of China's economic system from the perspective of the Impossible Trinity. From a historical point of view, this paper expounds the theoretical basis and causes of the Impossible Trinity, and analyzes the theoretical existence, non-angular solution expansion and “trinity” choice in combination with the actual situation in China. Based on the framework of the Impossible Trinity, in connection with the strategic background of the “Belt and Road” and the process of RMB internationalization, the applicability of China's past economic policies in the new era is discussed. The multi-regression model is used to conduct empirical analysis of the influencing factors of capital account openness. Relevant conclusions and suggestions are proposed to provide certain references for China's “trinity” choice in the new era, encourage the stable opening of the capital account, and promote the further integration of the domestic economy into the world economy.

Keywords: Impossible Trinity, Exchange Rate System, Monetary Policy, Capital Account Openness