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

Economy

PBOC governor says foreign reserves excessive

(Agencies)
Updated: 2011-04-19 14:13
Large Medium Small

China's huge stockpile of foreign exchange reserves, the world's largest, have become excessive and the government must diversify investments using the reserves, Zhou Xiaochuan, governor of the People's Bank of China, said in comments published on Tuesday.

The country's foreign exchange reserves swelled by nearly $200 billion in the first quarter of this year to more than $3 trillion, indicating hefty capital inflows, and the government has so far focused on investing mainly in US dollar assets, including US Treasures.

Related readings:
PBOC governor says foreign reserves excessive PBOC drains 83b yuan from money market
PBOC governor says foreign reserves excessive PBOC sets social financing at 14t yuan
PBOC governor says foreign reserves excessive China to further open up its financial market: PBOC
PBOC governor says foreign reserves excessive PBOC does 107b yuan repos, injects 28b yuan to market

"Foreign exchange reserves have exceeded our country's rational demand, and too much accumulation has caused excessive liquidity in our markets, adding to the pressure of the central bank's sterilization," Zhou was quoted by the official Shanghai Securities News as saying.

"The State Council has required a cut in excessive accumulation and good management of the funds accumulated, including diversification of investments," Zhou was quoted as telling a forum at Tsinghua University in Beijing.

To keep the yuan exchange rate stable in a capital account control system, the PBOC injects huge amounts of yuan into the banking system by buying foreign currencies from commercial banks.

The central bank then soaks up the excess yuan in the system via open-market operations and higher bank deposit reserve requirements. This is to prevent the money from flowing into the economy and fuelling inflation.

The newspaper did not quote Zhou as giving any details on the diversification of foreign exchange reserve use, although Chinese economists have urged the government to buy more assets in other currencies, such as euro and yen, as well as to invest in strategic goods such as oil and non-ferrous metals.

Commenting on other aspects of China's economy, Zhou was quoted as saying that the central government was considering letting local authorities issue municipal bonds for the first time as the main avenue for future financing of regional infrastructure construction.

Local governments have so far relied mainly on sales of land for such financing, supported by quasi-treasury bonds issued by the central government on their behalf or special funds.

That has helped inflate China's real estate prices and caused strong resistance from regional authorities to steps from the central government to cool the property market, among other problems.

分享按鈕
定陶县| 吉木乃县| 布尔津县| 灵武市| 和平区| 乌兰县| 凤翔县| 都匀市| 博罗县| 阜宁县| 财经| 仁怀市| 鹿邑县| 五大连池市| 五指山市| 金坛市| 澄江县| 高邮市| 噶尔县| 广汉市| 晋中市| 隆安县| 新绛县| 邵阳县| 耿马| 利辛县| 黄大仙区| 长丰县| 凯里市| 临西县| 遂川县| 城口县| 延边| 南汇区| 临澧县| 商洛市| 杭锦后旗| 嘉禾县| 德格县| 延边| 大石桥市|