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

Top Biz News

'Hot money' blowing bubbles

By Xin Zhiming (China Daily)
Updated: 2009-12-30 08:05
Large Medium Small

'Hot money' blowing bubbles

Surging flows may lead to stock market volatility, say economists

The rising inflow of speculative capital, or "hot money", into China could lead to "asset bubbles", said Fan Gang, member of the central bank's monetary policy committee.

The latest foreign exchange reserves figures released by the People's Bank of China reveal that inflows increased by about $37.2 billion - the second highest monthly rise this year - to $2.78 trillion by the end of November.

The $37.2 billion gap, indicating increased inflows, is about $16 billion more than the cumulative figures for the country's trade surplus and foreign direct investment (FDI) in November.

Economists have warned that the additional $16 billion could well be "hot money" inflows intended to gain from the rising value of the yuan or realty.

"But such calculations are rough," said Sun Lijian, an economist with Fudan University in Shanghai. He said the calculations omit factors like the inflow of investment returns by Chinese companies or the fact that part of the FDI could be actually "hot money". 'Hot money' blowing bubbles

The real figure could be much larger than $16 billion in November, he said. Some of the FDI inflows are not used for real economy investments, but rather in the stock or real estate markets, he said.

"I think there must be some speculative capital that has not been accounted for," said Sun.

The calculation of "hot money" has always been controversial in China. Last year, a Chinese Academy of Social Sciences scholar said such money could have amounted to 1.75 trillion yuan, triggering hot debates among Chinese economists and officials as to how much "hot money" has actually entered the country.

But with domestic asset prices rising sharply, economists concur that while there is "hot money", it is difficult to guesstimate the actual quantity.

The nation's main stock market index, for example, has risen by more than 75 percent compared with November 2008. Prices of many apartments in Beijing have also nearly doubled within a year.

According to a recent study conducted by the Guangdong provincial academy of social sciences, "hot money" has been flowing into the country since June.

Related readings:
'Hot money' blowing bubbles Bubble in housing market will burst
'Hot money' blowing bubbles Pin the housing bubble
'Hot money' blowing bubbles Asset bubble, not inflation, greatest danger
'Hot money' blowing bubbles Property market growth not bubble

Li Youhuan, a member of the research team, said the inflows have gathered pace since then.

Many economists have warned in recent weeks that the US Federal Reserve's low-interest policy is encouraging global liquidity to move towards emerging markets.

Russia said it plans to adjust regulations to limit the inflow of hot money into the country while encouraging long-term investments, according to Prime Minister Vladimir Putin.

主站蜘蛛池模板: 一级黄色淫片 | 国产网址在线观看 | 99久| 美腿丝袜av | 神马影院午夜伦理 | 午夜视频在线观看一区 | 亚洲淫片 | 精品一区二区三区在线观看视频 | 免费观看黄一级视频 | 久久99久久精品 | 婷婷视频网站 | 国产精品视频免费播放 | 亚州国产精品视频 | 国产亚洲区 | 毛片在线观看视频 | 欧美久久久久久 | 欧美国产精品一区二区三区 | 亚洲天堂精品一区 | 国产在线久 | 久久久久久久久久久国产精品 | 天天干天天做 | 激情久久婷婷 | 久久五月天婷婷 | 特淫毛片 | 亚洲视频天堂 | 成人▇蘑菇视频▇观看 | 精品国产91乱码一区二区三区 | 一级特黄aaa | 福利综合网 | 四虎在线视频 | 9色在线视频 | 亚洲欧美视频在线观看 | 亚洲三级小视频 | 1024国产在线 | 特级毛片在线 | 国产午夜精品一区二区三区视频 | 中文字幕不卡在线观看 | 天天干天天色综合 | 国产精品久久久久久69 | 亚洲视频成人 | 久久国产99 |