男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影
   

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: 揭阳市| 依安县| 额敏县| 将乐县| 大姚县| 漳州市| 白河县| 仁寿县| 涞水县| 滁州市| 宁安市| 武夷山市| 城口县| 凯里市| 郁南县| 大丰市| 福海县| 阿拉善左旗| 正阳县| 丹巴县| 舟曲县| 阿鲁科尔沁旗| 石阡县| 呼玛县| 鲜城| 油尖旺区| 上蔡县| 封开县| 汶上县| 砀山县| 大新县| 明星| 磐安县| 繁昌县| 仲巴县| 清涧县| 东至县| 洪江市| 威信县| 海盐县| 汝城县| 敖汉旗| 黄龙县| 临湘市| 华阴市| 大田县| 许昌市| 曲松县| 格尔木市| 乌拉特后旗| 佳木斯市| 东方市| 灵寿县| 邮箱| 夏河县| 会同县| 澎湖县| 台东市| 北碚区| 手机| 尚志市| 东海县| 靖边县| 仁怀市| 石泉县| 嵊泗县| 陆良县| 密云县| 丰顺县| 鞍山市| 和顺县| 兴安盟| 东海县| 天门市| 马龙县| 长海县| 特克斯县| 武冈市| 贡山| 金堂县| 东兰县| 镇赉县|