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

Make me your Homepage
left corner left corner
China Daily Website

Testing ground for reforms

Updated: 2013-12-04 07:56
( China Daily)

The financial support that China's central bank has offered the pilot free trade zone in Shanghai represents not only the latest evidence of the resolution of the government to implement a sweeping plan to overhaul the world's second-largest economy.

It is also a needed response to the accelerated internationalization of the Chinese currency. It was reported that renminbi has surpassed the euro as the second-most used currency for trade finance by value.

The People's Bank of China issued a guideline on Monday to ease the way for foreign investment in the free trade zone in Shanghai and allow Chinese residents to use the zone as a base for investment overseas.

Testing ground for reforms

For observers who were disappointed by lack of specifics when the free trade zone was launched in late September, the blueprint from the central bank will help shore up their confidence in the zone as a testing ground for reforms.

Though international trade and foreign direct investment have long been welcome as a driving force behind China's economic growth, the government has limited the flow of funds for financial investments into and out of the country, partly from fears of the havoc it might cause at the time of the financial crisis.

Yet, to better integrate China into the global economy while facilitating economic transformation at home, the country's leaders have recognized the increasing necessity of financial liberalization. And that explains why the Shanghai free trade zone has pledged to push for "a full-scale opening" of the financial service sector to eligible private investors and foreign financial institutions.

Given the complexity of China's necessary financial reforms which range from the marketization of interest rates to further reforms on foreign currency management, the new guideline highlights a testing and liberalizing step-by-step approach.

But as the cross-border use of renminbi is more popular than expected, Chinese policymakers should not hesitate to set in motion inevitable financial reforms.

(China Daily 12/04/2013 page8)

8.03K
...
鸡泽县| 泸西县| 司法| 萍乡市| 永城市| 石首市| 瑞金市| 嘉善县| 鄂托克前旗| 正阳县| 广德县| 邢台县| 天柱县| 南漳县| 康平县| 克拉玛依市| 化隆| 越西县| 绩溪县| 宁晋县| 桃园市| 马山县| 永年县| 陆川县| 乌拉特中旗| 墨玉县| 上饶市| 娱乐| 新宁县| 桂东县| 泰宁县| 噶尔县| 商城县| 甘洛县| 黑山县| 增城市| 共和县| 陈巴尔虎旗| 铜川市| 扎兰屯市| 防城港市|