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

   
  home feedback about us  
   
CHINAGATE.CHINA POST WTO.wto_news    
    Key Issues  
 
  Commitments implementation  
  Role of government  
  Impact:  
    >Agriculture  
    >Industry  
    Service  
  Trade & tech barrier  
  Legal system  
  IPR  
  Labour & employment  
  Free trade & globalization  
 
 
       
       
       
     
       
       
       
       
 
 
 

China's forex reserves see first drop in 5 years


2008-12-23
Xinhua

It is a good phenomenon for China's mammoth foreign exchange reserves to diminish for the time being, some experts believed.

China's forex reserves peaked at $1.9 trillion at the end of September, now they were below that figure, Tuesday's Shanghai Securities Journal quoted Cai Qiusheng, head of the foreign debts section under the capital-account management department of the State Administration of Foreign Exchange, as saying.

Related readings:
 China's forex reserves fall for first time in 5 years
 China to continue efforts on regional forex reserve pooling scheme
 China's forex reserves hit record
 New forex management rule a big step forward

This was the first decline in China's forex reserves since the end of 2003.

Cai made the remarks at the 7th annual meeting of China's import and export enterprises held over the weekend.

Central Bank data show that at the end of September, China's forex reserves stood at $1.9056 trillion, a growth of 32.92 percent over the same period of last year. The reserves increased $377.3 billion in the first nine months of this year, $10 billion more than the year-earlier increment. The total increase included $21.4 billion recorded in September, $3.6 billion less than the increment for the same month of last year.

Qu Hongbin, chief economist with HSBC China operations, analyzed that since growth of China's exports and imports had slowed down, China's trade surplus kept increasing and that foreign direct investment (FDI) had been rising though at a slower pace. Therefore he considered trade and FDI were not the factors behind the forex reserves decrease.

Yuan Yuedong, a senior researcher with the global financial market department of Bank of China, believed the reduction for the time being would not affect the Chinese economy adversely.

He attributed the reduction to the recent slower appreciation and a short-term depreciation of the Chinese currency, renminbi, against the US dollar. He reckoned that possible increasing offshore investment by Chinese companies also contribute to the downward trend of the forex reserves. But he said data were not yet available to support the estimate.

Qu Hongbin believed the renminbi's depreciation against the euro, which was also a major currency in China's forex reserves, was another important factor.

An investment-bank analyst who declined to be named, said the forex reserves decrease might be related to capital withdrawal from China by some foreign institutions whose liquidity was tight.

But Commerce Minister Chen Deming said earlier that there was no sign of large amounts of capital flowing out of China and that China remained a good target for FDI.

To combat the impact from huge capital outflows in the short-term, the foreign exchange administration has taken a string of measures, including a registration management system for offshore equities under the corporate cargo trade accounts.


   
 
home feedback about us  
  Produced by www.gdqibao.cn. All Rights Reserved
E-mail: webmaster@chinagate.org.cn
宜兰市| 宝应县| 宣武区| 曲阳县| 元江| 雷山县| 明溪县| 怀宁县| 静乐县| 镇原县| 社旗县| 平定县| 平潭县| 沭阳县| 北碚区| 武川县| 敦煌市| 讷河市| 扶余县| 岳阳市| 绍兴县| 江阴市| 富顺县| 霍山县| 中西区| 亚东县| 甘孜县| 巴林右旗| 民和| 育儿| 临桂县| 凉城县| 措美县| 新乡县| 临潭县| 靖边县| 广饶县| 平罗县| 泰安市| 桦甸市| 德令哈市|