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

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
南华县| 苗栗市| 托里县| 陇川县| 偏关县| 光泽县| 石泉县| 台北县| 新干县| 运城市| 雅江县| 陈巴尔虎旗| 广东省| 沽源县| 武城县| 石台县| 唐海县| 平利县| 永兴县| 壶关县| 日土县| 苍山县| 兰溪市| 扎囊县| 陆良县| 滨州市| 栖霞市| 石楼县| 博爱县| 同仁县| 通化市| 北宁市| 七台河市| 穆棱市| 皋兰县| 上饶县| 珠海市| 竹溪县| 三门县| 莒南县| 南康市|