日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

   

BIZCHINA / Top Biz News

Businesses can hold on to more forex
By Feng Jie (China Daily)
Updated: 2006-04-06 06:01

China is shifting from stockpiling foreign exchange reserves in State coffers to letting businesses and residents hold more foreign currency, a top central bank official said yesterday.

The policy adjustment will help reduce pressure on the authorities to mop up excess liquidity in the forex market to enforce the trading band of the renminbi exchange rate, analysts say.

Wu Xiaoling, deputy governor of the People's Bank of China (PBOC), said: "A deficit in international balance of payments is not good, but too big a surplus is not helpful either."

"Therefore we must readjust the economic structure," she said, adding that the forex policy should be adjusted accordingly.

China is not pursuing huge forex reserves, Wu said.

She stressed that the new policy stance is having more forex reserves "held by," instead of "hidden among," the people, clarifying misinterpretations in some recent media reports.

As foreign trade surpluses continued to grow, China's official reserves rose to US$853.6 billion at the end of February, reportedly overtaking Japan as the biggest holder for the first time.

The rapid increases in China's reserves resulted from policies that encouraged foreign direct investment and exports, as well as a forex administration regime that keeps tight controls on outflows but imposes little restriction on inflows, Wu said.

The changes in a nation's forex reserves eventually reflect its macroeconomic performance and international payments, and there is no scientific method to measure the appropriate level, she said.

Continued trade surpluses and inflow of foreign investment in recent years have led to rapid accumulation of China's forex reserves, a scarce commodity at a time of rigid central planning.

Expectations of a stronger renminbi only fuelled the trend, with speculative capital flowing in and businesses taking more forex loans. Speculation of a further revaluation of renminbi remains strong in the marketplace even after China revalued the currency, which some trading partners complain is undervalued, by 2 per cent against the US dollar last July.

The rapid forex increases have been forcing the central bank to issue more local currency to buy the excess dollars and enforce the trading band of the renminbi, complicating monetary policy operations at a time of ample liquidity in the banking system.

Wu noted the central bank has taken a slew of measures to loosen capital controls, which allow businesses to keep more forex and sell less to banks. It also allows individuals to buy more forex from banks for such purposes as overseas travel and studies.

(China Daily 04/06/2006 page1)

(For more biz stories, please visit Industry Updates)

 
 

主站蜘蛛池模板: 日本欧美一区二区三区 | 中文字幕1区 | 色av中文字幕 | 一区亚洲 | 中文字幕第三页 | 91精品国产综合久久福利 | 国产精品suv一区二区69 | 狠狠欧美 | 综合免费视频 | 91免费在线看片 | 天堂99| 亚洲男人在线天堂 | 亚洲一本之道 | 成年免费视频黄网站在线观看 | 亚洲图色av | 色鬼综合 | 日韩在线三区 | 欧美日韩一区视频 | 精品久久久在线观看 | 成人免费一区 | 久久视频免费观看 | 小罗莉极品一线天在线 | 无毒不卡 | 欧美香蕉在线 | 91精品国产麻豆国产自产在线 | 国产真实乱在线更新 | 自拍偷拍第5页 | 成人亚洲精品 | 中文字幕免费视频观看 | 日韩小视频 | 亚洲精品色图 | 91久久精品视频 | 亚洲精品高清在线 | 欧美日韩精品免费观看 | 午夜合集 | av不卡一区二区三区 | 国内精品久久久久久久 | 成人黄网免费观看视频 | 欧美黄色性视频 | 久久久久久精 | 久久免费视频网站 |