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>News Center>China
       
 

Betting on renminbi's appreciation banned
(China Daily)
Updated: 2004-12-10 00:37

China's foreign exchange (forex) watchdog yesterday vowed to get tougher on speculation on the renminbi's appreciation.

"We now seriously warn all speculators engaged in illegal speculative activities that the State Administration of Foreign Exchange (SAFE)... will not ignore any activities and evidence of misdeeds that play havoc with the order of our foreign exchange market," a SAFE spokesman said in a statement.

The spokesman was responding to media reports saying that up to US$1 trillion in hot money has been used to speculate on the appreciation of China's currency.

Hot money is a term used in financial circles for funds that flow across different markets for quick speculative profits.

The spokesman said that SAFE has spotted "abnormal phenomena" such as cheating in import and export price reporting and excessive borrowing of funds.

"These behaviours, to a large extent, have characteristics of speculative arbitrage," the spokesman said.

He made special reference to speculation in the real estate market, where soaring prices are believed to be partly caused by funds illegally channeled into China.

The spokesman admitted that China's financial system has loopholes that can be used by international speculators.

But the costs of such speculative activities are high, he said.

The renminbi is not fully convertible, which makes it very difficult for speculative funds to enter and leave China.

So it's not possible for such activities to have a large impact.

However, SAFE will not tolerate any illegal speculation, the spokesman said.

The spokesman said SAFE will monitor capital flow more carefully and mend loopholes in foreign exchange administration in a timely manner.

It will also closely work with law enforcement departments in its fight against wrongdoings in the foreign exchange market, he said.



 
  Today's Top News     Top China News
 

Coal mine explosion kills 33 in north China

 

   
 

Market recognition benefits China, EU

 

   
 

Foreign trade tops US$1 trillion

 

   
 

Government aims to fatten farmers' wallets

 

   
 

Japan to export arms for missile shield

 

   
 

Al Qaeda to attempt major marine attack

 

   
  Coal mine explosion kills 33 in north China
   
  Former governor sentenced to 11 years in prison
   
  Court helps workers get overdue pay
   
  Chinese media spread global views
   
  Deal inked to quell fishing disputes
   
  Government aims to fatten farmers' wallets
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
12 foreign banks apply for RMB business
   
To revalue renminbi, or not?
   
RMB savings soars to 9 billion in HK
   
Speculative money: A hot potato for China
   
Central bank allows more RMB out of border
   
Central bank allows more RMB out of borders
   
China questions dollar slide
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
读书| 温泉县| 和平区| 平罗县| 上杭县| 宁南县| 肥西县| 衡东县| 波密县| 元江| 贵德县| 安福县| 中江县| 昆明市| 汝州市| 枣庄市| 新余市| 元谋县| 新丰县| 宕昌县| 乌拉特前旗| 铜梁县| 神池县| 乌拉特前旗| 葫芦岛市| 玛沁县| 德阳市| 宣恩县| 南安市| 泰宁县| 大关县| 舟山市| 马龙县| 漠河县| 南充市| 龙陵县| 上虞市| 盐山县| 钟祥市| 松溪县| 甘肃省|