综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

   

Capital account will open further: Central bank official

By Xin Zhiming (China Daily)
Updated: 2007-08-25 10:14

China will continue to liberalize its capital account, but it is necessary to control the pace at which it is opened, Yi Gang, assistant governor of the People's Bank of China, told a financial forum on Friday.

"China will resolutely push for the opening of the capital account, which is always a set agenda," he was quoted by Bloomberg as saying. "But we need to control the pace of the opening in an orderly manner."

Mainland people were allowed on Monday to directly trade stocks in Hong Kong for the first time under a pilot program started in Tianjin's Binhai New Area.

Analysts expect the program to expand to more cities and individual investors to be allowed to invest in more international markets.

"It opened a small window for outbound individual investment," said Yi Xianrong, an economist with the Chinese Academy of Social Sciences. "The window is set to be opened wider."

But Yi Gang warned that managing the capital account could be difficult because many foreign-exchange inflows are mixed with money remitted back to China by overseas Chinese.

Yi Gang also said China needs positive real deposit rates, according to Bloomberg.

His remark has been interpreted as a sign that the monetary authority may be planning to raise interest rates this year to keep pace with inflation.

Some international investment banks have predicted that the central bank would raise the interest rate one more time at most this year.

It raised the rate on both deposits and lending on Tuesday - the fourth increase this year - pushing up the one-year savings rate to 3.6 percent and the benchmark lending rate to 7.02 percent.

Although the hikes were aimed at cooling off the country's blistering economic growth and slowing down fixed-assets investment and lending, they will also help ease the negative deposit rates, said Hu Shaowei, a senior economist with the State Information Center.

Depositors have been suffering from negative real interest rates since inflation hit 5.6 percent in July, a 10-year record.

"We must prevent real deposit rates from sliding into negative territory over an extended period," Yi Gang said. "That would distort and harm the economy."

China should continue to curb excess financial liquidity, boost domestic consumption, adjust its economic structure and allow capital outflows in an "orderly" way to prevent economic risks, Yi Gang said.


(For more biz stories, please visit Industry Updates)



甘泉县| 临泽县| 阜平县| 新营市| 化德县| 上林县| 安西县| 大安市| 北安市| 瓦房店市| 荣成市| 百色市| 麟游县| 潮州市| 潜山县| 茶陵县| 巩义市| 凤城市| 宁武县| 和龙市| 岳普湖县| 南乐县| 鄂尔多斯市| 通城县| 华坪县| 嘉善县| 门源| 靖宇县| 上蔡县| 吴旗县| 兰坪| 淮滨县| 横山县| 普兰县| 当雄县| 凤翔县| 长乐市| 五常市| 南川市| 尤溪县| 山丹县|