国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

BIZCHINA> News
Inflows of hot money to be curbed
By Xin zhiming (China Daily)
Updated: 2007-06-27 08:32

The foreign exchange regulator yesterday vowed to strengthen controls over illegal capital that has been flowing into the stock and property markets.

"Speculative capital has flown into the country under the guise of trade and investment," Deng Xianhong, deputy head of the State Administration of Foreign Exchange (SAFE), said in a statement.

"The capital inflows have, to some extent, affected the domestic macro-economic situation and healthy economic development," he said.

With the domestic market flush with excess liquidity, the authorities have been trying to block the inflow of speculative capital seeking to benefit from a rising yuan.

Some of the hot money is from short-term foreign borrowings, which is why the regulator has been keeping a close watch on short-term foreign debt, said Zhao Xijun, finance professor at Renmin University of China.

By the end of last year, the SAFE said, China's short-term foreign borrowings increased by 16 percent year on year.

About 57 percent of the foreign debt was short-term by the end of 2006, compared to 55.8 percent by the end of last June.

Hu Xiaolian, director of the SAFE, said the watchdog will launch a nationwide check on banks' control of short-term foreign debt.

Hu, who is also the vice-governor of central bank, said the priorities for the SAFE are to supervise speculative capital inflows, strengthen monitoring and management of cross-border flows, especially short-term capital flows, and control foreign capital inflows with fictitious trade background and bloated exports.

Economists are not in agreement on the exact amount of hot money in China, but some put the figure at $300 billion.

They have mostly entered the economy in the form of bank borrowings, from underground banks, bloated exports or understated imports, said Zhao.

Related readings:
Inflows of hot money to be curbed Central bank calls for supervision of speculative capital
Inflows of hot money to be curbed Hot money inflow speeds up since Feb.
Inflows of hot money to be curbed 
Fresh controls on foreign exchange

Find more in
Markets Watch 

" The checks by the foreign exchange regulator will help it figure out how the money came in before it takes countermeasures," he told China Daily.

The highly volatile speculative funds pose a big risk, said Zhuang Jian, senior economist with the Asian Development Bank.

"It will fan speculative sentiment but once it flows out abruptly, it will deal a blow to the financial system."

Since last year, the SAFE has strengthened checks on illegal capital inflows and foreign exchange settlements in goods and service trade and such sectors as real estate and tourism.

It penalized 19 Chinese and 10 foreign banks for violating rules but did not reveal details.


(For more biz stories, please visit Industries)
大丰市| 汶川县| 东兰县| 澄迈县| 郧西县| 东至县| 舒兰市| 都安| 喀喇| 揭阳市| 郯城县| 南涧| 洪雅县| 阜阳市| 吴桥县| 察隅县| 茌平县| 平乡县| 娄底市| 太原市| 利川市| 海淀区| 广元市| 昔阳县| 双牌县| 彩票| 延津县| 千阳县| 锦州市| 益阳市| 民和| 郎溪县| 望城县| 牟定县| 隆尧县| 新郑市| 渝北区| 晋州市| 茶陵县| 普宁市| 泸西县|