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

Center

Special bond issue won't seriously impact liquidity

By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-07-02 11:33
Large Medium Small
Chinese lawmakers last Friday approved the Ministry of Finance to issue 1.55 trillion yuan (US$202 billion) in special bonds, aiming to help the central bank handle excessive liquidity. But analysts branded the issue a kind of "moderate" policy and said it won't pull massive funds out of the market, China Business News reported.

Insiders said that the ministry will issue the special bonds to the central bank to finance the purchase of foreign exchange reserves for the fledging State Forex Investment Company.

They said the whole operation becomes an exercise in accounting, essentially shifting a portion of foreign exchange reserves from the central bank's balance sheet to the state investment company's. There would be little impact on domestic liquidity.

The ministry also said that it will sell these special bonds in a gradual process to regulate money supply so as to keep the market stable.

Special coverage:
Markets Watch

Interest Rate Hike
Red Chips Return

Related readings:
Special bond issue won't seriously impact liquidity China eyes gradual sale of special bonds
Special bond issue won't seriously impact liquidity Interest tax bill passed; special T-bond issuance approved
Special bond issue won't seriously impact liquidity Special bond issuance targets excess liquidity
Special bond issue won't seriously impact liquidity 
Central bank orders measures to prevent market risks

Even if the central bank would sell off these special bonds to financial institutions directly to take the money back, the bonds will be released in tranches to keep the market stable, the insiders said.

A source with the ministry also said that the market shows increasing demands for investment in treasury bonds, with the expanding gap between interest rates of lending and borrowing as well as the growing number of investment channels of insurance and social securities funds. The issue of these special bonds will help to meet demands.

Issuing the special bonds to the central bank will have a moderate impact on the market compared with issuing them directly to financial institutions, according to Lu Zhengwei, a researcher with the Industrial Bank.

"The central bank will sell the special bonds to mop up liquidity, but the frequency and amount depend on the money supply target and other market situations including the maturity of central bank notes," Lu said.

Peng Xingyun, a financial expert at the Chinese Academy of Social Sciences, said that getting forex reserves through such means similar to asset swap won't impact the liquidity but can regulate the assets of the ministry and the central bank in a short time.

Data show that the central bank issued 3.6 trillion yuan in central bank notes last year. Up to now this year, the total central bank notes issued have reached 2.5 trillion yuan.

分享按鈕
主站蜘蛛池模板: 亚洲国产欧美日韩在线 | 亚洲色图50p| 天堂网在线视频 | 九九热伊人 | 国产一级片免费看 | 国产www色 | 欧美黄色一级 | 日韩视频一区 | 麻豆久久久久 | 91香蕉国产在线观看软件 | 玖玖热在线视频 | 欧美顶级毛片在线播放 | 人人干人人草 | 日韩av在线一区 | av九九| 99热在线免费观看 | 午夜在线成人 | 快色在线 | 久久一区精品 | 视频一区日韩 | 性做久久久久久久久 | 久久久久亚洲 | 性爱视频免费 | 日韩一级在线观看 | 林心如三级全黄裸体 | a久久久久 | 中文字幕观看在线 | 黄色片网站在线播放 | 国产精品不卡在线 | 日本韩国欧美中文字幕 | 精品亚洲国产成av人片传媒 | 亚洲欧美另类自拍 | 久热精品视频在线播放 | 日韩一区二区三区视频在线观看 | 4虎最新网址 | 一区二区福利视频 | 天堂网中文在线 | jizzjizzjizz亚洲| 成人av观看 | 欧美天堂网站 | 日韩精品在线免费视频 |