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: 在线免费看h | 久久综合成人网 | www久久久| 青青草影视| 欧美精品在线免费观看 | 四虎国产视频 | 亚洲一区二区三区视频在线 | 日韩一区二区视频 | 日韩xxx视频 | 国产毛片aaa | 天堂综合在线 | 成人aⅴ视频 | 可以在线观看的av网站 | 日韩欧美综合一区 | 性与爱的斗牛 | 波多一区二区 | 国产无套丰满白嫩对白 | 欧美视频在线一区 | 国产艹| 色呦呦中文字幕 | 久色视频在线 | 国产情侣在线播放 | 国产午夜视频在线 | 毛片的网址 | 四虎影院在线播放 | 欧美福利一区 | 另类天堂av | 午夜免费成人 | 在线免费观看成年人视频 | 亚洲精品精品 | 亚洲精品视频在线播放 | 人人超碰97| 亚洲色图1 | 国产中文字幕第一页 | 亚洲欧美日韩偷拍 | 香蕉视频在线观看视频 | 国产日比视频 | 亚洲综合色站 | 精品美女一区二区 | 日韩男女视频 | 在线免费观看麻豆 |