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

Money

China's central bank pumps less liquidity into market

(Xinhua)
Updated: 2011-05-05 16:59
Large Medium Small

BEIJING -- The People's Bank of China (PBOC), the central bank, scaled back its efforts to pump liquidity into money market this week, as funds continued to pour into China betting on the appreciation of its currency.

With the sales of 6 billion yuan ($923 million) of three-month bills to commercial banks on Thursday, the PBOC completed its open market operations this week, realizing a net injection of 26 billion yuan of liquidity into the banking system after offsetting bills and repurchase agreements worth 117 billion yuan that had matured.

It was the PBOC's third straight week of net injection, but this week's 26 billion yuan was sharply down from nearly 300 billion yuan last week due to the strong demand for cash during the May Day holiday.

Despite three consecutive weeks of net liquidity injections, analysts said the PBOC's tight monetary policy would not change in the medium term and the current macro control policy will continue as liquidity remains ample in the market.

Related readings:
China's central bank pumps less liquidity into market PBOC to expand cross-border RMB settlement plan
China's central bank pumps less liquidity into market PBOC may drain more capital from financial system
China's central bank pumps less liquidity into market PBOC governor says?foreign reserves excessive
China's central bank pumps less liquidity into market China still has space to tighten monetary policy further

"New loans may jump to 750 billion yuan in April, while the amount of bills and repurchase agreements that mature in May and June will both exceed 500 billion yuan, respectively, all these factors continue to weigh on the PBOC to keep its policy tight," said Tang Jianwei, a macroeconomic analyst with the Bank of Communications.

The inflow of funds from overseas has also increased the market's liquidity, according to different figures by Chinese government departments.

China reported a trade deficit of $700 million in the first quarter and received $30.34 billion of foreign direct investment (FDI) in January-March.

However, China's foreign exchange reserves, which are made up by its current account surpluses, FDI and funds flowing in the country, rose by nearly $200 billion in the first quarter.

"This indicates that a large amount of short-term international capital is flowing into China, thus adding to the pressure of the already excessive liquidity domestically," said Zhang Ming, a deputy research fellow with World Economy Institute of the Chinese Academy of Social Sciences.

PBOC statistics show the funds outstanding for foreign exchange totaled 400 billion yuan in March, boosted by a strengthening Chinese currency.

The Chinese currency, or the yuan, rose by more than 0.8 percent in April against the US dollar, and the central parity touched a historic high of 6.499 per US dollar on April 30.

分享按鈕
增城市| 红河县| 太康县| 内黄县| 波密县| 巨鹿县| 香港| 牡丹江市| 常宁市| 建湖县| 仪陇县| 建德市| 三门峡市| 治多县| 平和县| 屯昌县| 福建省| 田东县| 甘谷县| 磐石市| 沈阳市| 乌海市| 临城县| 博乐市| 鹤岗市| 罗田县| 永寿县| 商洛市| 吉木萨尔县| 垦利县| 民勤县| 电白县| 宁明县| 尚义县| 惠来县| 禹州市| 芒康县| 永年县| 万荣县| 伊金霍洛旗| 登封市|