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

Economic Pulse

China vigilant against quantitative easing in developed economies

(Xinhua)
Updated: 2013-03-07 13:17

BEIJING - China's political advisors expressed concerns about the impact of quantitative easing policies in developed countries, urging the nation to speed up industrial restructuring to tackle related challenges.

China vigilant against quantitative easing in developed economies

"We don't agree with the excessive monetary easing used in some countries," said economist Li Yining at a press conference held on the sidelines of the annual ongoing session of China's top political advisory body.

The political advisors' renewed call for restraint in monetary easing has highlighted the pressure that has hit emerging economies, particularly those in the Asia-Pacific region.

Apart from a new round of quantitative easing launched by the U.S. Federal Reserve last year, the Japanese yen has depreciated more than 15 percent against the U.S. dollar over the past two months due to an expansionary policy implemented by Japanese Prime Minister Shinzo Abe.

While delivering his last government work report at the parliament's annual session on Tuesday, Premier Wen Jiabao said China will maintain a proactive fiscal policy and a prudent monetary policy in 2013, as well as secure economic growth of 7.5 percent and keep inflation around 3.5 percent.

As a sign of increasing capital inflow amid China's improved economic prospects, Chinese financial institutions saw their yuan funds outstanding for foreign exchange increase by 683.7 billion yuan ($108.9 billion) in January, the highest monthly increase on record, data from the central bank showed.

Since capital accounts are tightly controlled by the government, China's central bank and commercial banks have to buy large quantities of foreign exchange to stabilize the yuan's exchange rate, resulting in loose liquidity in the domestic market.

Justin Yifu Lin, former vice president and chief economist of the World Bank, said he expects China's currency to continue appreciating this year thanks to globally loose liquidity.

"Policymakers need to make appropriate adjustments according to China's domestic productivity and the balance of international payments," Lin said in a group interview held during a press conference.

Lin is also a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body.

"I think it's important for China to adopt a relatively proactive fiscal policy while keeping its monetary policy moderate, as this will be helpful to maintain rapid economic growth and keep prices relatively low," Lin said.

If China sees a massive inflow of short-term speculative funds, the country can take necessary capital-control measures to prevent drastic appreciation for the yuan and avoid bubbles in the property sector and equity markets, Lin said.

开原市| 海阳市| 临朐县| 巩义市| 平阴县| 兰溪市| 阿拉善左旗| 湘潭市| 宝丰县| 吉林省| 教育| 湟源县| 万山特区| 夹江县| 樟树市| 体育| 息烽县| 项城市| 武川县| 施甸县| 休宁县| 张掖市| 广饶县| 南开区| 湘潭市| 教育| 阳东县| 乐亭县| 巨野县| 青铜峡市| 象州县| 河间市| 太康县| 广河县| 双鸭山市| 湟源县| 江源县| 梧州市| 时尚| 抚松县| 枝江市|