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

   

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)



新津县| 临洮县| 会同县| 桓台县| 康保县| 新津县| 东辽县| 丰都县| 敦化市| 雅安市| 文安县| 石首市| 巴青县| 右玉县| 莱西市| 武定县| 定兴县| 六安市| 台山市| 八宿县| 离岛区| 中阳县| 林口县| 桓台县| 垫江县| 江川县| 平利县| 格尔木市| 商城县| 沙雅县| 柏乡县| 淮南市| 什邡市| 泽州县| 苏州市| 祁门县| 天台县| 依兰县| 瓦房店市| 缙云县| 白城市|