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

Money

Expert warns on hot money

By Xin Zhiming (China Daily)
Updated: 2010-04-20 09:22
Large Medium Small

SAFE vows to beef up controls of cross-border capital movement

BEIJING - A Chinese Academy of Social Sciences (CASS) economist on Monday warned against drastic increase in short-term speculative capital inflows, especially in the coming months while the country's foreign exchange regulator vowed to strengthen controls of cross-border capital movement.

"Calculations show that in March, such capital inflows expanded dramatically compared with the previous two months," Zhang Ming, an economist at the Institute of World Economics and Politics at CASS, told China Daily. "It could be a new trend."

The State Administration of Foreign Exchange (SAFE) said on Monday that China may see increased inflows of speculative foreign capital this year as expectations of yuan appreciation rise and due to its relatively high interest rate.

"The relatively higher domestic interest rate and moderately rising expectations of yuan appreciation will lead to the scaling up of cross-border carry trade," SAFE said in a report on its international balance of payments.

Zhang said that unexplainable capital inflows into China in the first three months amounted to $5.6 billion, $5.7 billion and $20.5 billion respectively.

The calculation was conducted through subtracting the country's monthly foreign exchange reserves by its trade surplus, foreign direct investment, valuation effects caused by currency exchange rate changes and investment returns, which is believed to be a quite comprehensive methodology.

The eurozone's decision to bail out Greece could anchor the euro and reverse the dollar's appreciation against it, Zhang said, which would lead to more capital moving out of the United States and flowing into emerging economies.

The US, meanwhile, could possibly postpone any interest rate hike until the fourth quarter of this year at earliest, which means the gap between Chinese and US interest rates would not narrow and international capital could continue to flow into countries such as China to profit from it, he said.

Related readings:
Expert warns on hot money Regulator plays down hot money fears
Expert warns on hot money Hot money flow peaks in December
Expert warns on hot money NDRC official rings 'hot money' alarm
Expert warns on hot money 'Hot money' blowing bubbles

"In the coming six months, short-term international capital may continue to flow into China, which would put more sterilization pressure on the central bank and push up domestic consumer goods and real estate prices," he said.

SAFE said it would further improve supervision of irregular cross-border capital flows and build a comprehensive early warning frameworks to resolve such risks.

It also said it expected the current account surplus this year as a percentage of GDP to continue to drop.

SAFE revised the 2009 current account surplus to $297.1 billion from the $284.1 billion figure released earlier this year, while the capital and financial account surplus was also revised up to $144.8 billion from $109.1 billion.

永善县| 商丘市| 凯里市| 屯留县| 泰兴市| 文成县| 漳州市| 衢州市| 临洮县| 双流县| 获嘉县| 微山县| 疏附县| 博爱县| 南靖县| 深泽县| 双流县| 滁州市| 镇原县| 通州市| 罗定市| 浪卡子县| 大冶市| 铜川市| 民权县| 永昌县| 云和县| 广元市| 运城市| 邵东县| 桃园县| 闸北区| 安宁市| 二手房| 泉州市| 济源市| 日喀则市| 海林市| 武宁县| 屯昌县| 宜宾县|