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

   

CHINA / National

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.


Wu Xiaoling, vice governor of the People's Bank of China. [newsphoto file]
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)

 
 

Related Stories
 
主站蜘蛛池模板: 中文字幕88 | 日韩在线视频网址 | 国产一区二区三区免费在线观看 | 国产一区二区三区视频在线观看 | 884aa四虎影成人精品一区 | 黄色片久久久 | 免费黄色av | 六月激情婷婷 | 激情亚洲视频 | 国产cao | 亚洲专区第一页 | jizz在线免费观看 | 一区二区三区免费视频观看 | 亚洲精品男人的天堂 | 午夜在线免费观看视频 | 69精品久久久久久 | xvideos永久免费入口 | 青青国产在线观看 | 日韩成人高清 | 蜜桃传媒一区二区 | 我不卡一区二区 | 成人小视频免费在线观看 | 亚洲一区图片 | 一区二区三区在线免费视频 | 亚洲精品久久久久中文字幕二区 | 国产精品区二区三区日本 | 黄色影院av | 亚洲国产精品久久久久 | 国产一区二区视频免费 | 97人人视频| 日韩欧美在线观看视频 | 欧美日韩二区三区 | 中文日韩在线观看 | 日本在线视频一区 | 婷婷俺来也 | 日韩中文字幕一区二区 | 欧美一级视频 | 国产精品夜夜夜爽阿娇 | 一级片日韩 | 久久少妇视频 | 亚洲综合在线观看视频 |