www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Shanghai FTZ tests China's currency liberalization

Xinhua | Updated: 2013-09-12 19:07

While such reforms have long been advocated, some analysts argue rolling them out now could be hasty, saying opening the capital account would make China vulnerable to the Federal Reserve's quantitative easing (QE) tapering and add to risks rising from other reforms at home.

It is feared that demolishing the currency curb will trigger a capital flight draining China of liquidity. According to foreign media reports, it was reported that cash in billions of US dollars has already left China through money trafficking to seek better yields or alternative investments overseas.

Although the general plan is about to be released, until now, no detailed proposal of how to operate the test bed has been finalized, which suggests the regulators vary on the pace and steps of opening the capital account, according to sources with direct knowledge of the issue.

Jitters over the Fed's reduction of its stimulus have spawned a broad sell off in emerging economies, reeling the capital markets in Asia and plunging the Indian rupee and Indonesian rupiah to lowest levels in years.

Economists say it is the closed capital account that kept China immune to the QE tapering while other emerging economies saw their asset prices and currency exchange rates dive.

"Once the capital account is open, closing it will be very hard. And when China realizes it needs to re-regulate the capital account, big problems may have already happened," Wang said.

Yu Yongding, a strong opponent to the capital account opening, said China should focus on reforms of currency exchange rate and interest rate.

"Before those reforms are done, opening the capital account can lead to unexpected risks," said Yu, who sat on the central bank's monetary policy committee from 2004 to 2006, when China was planning to allow the yuan to appreciate.

The central bank, however, said China had already made significant achievements in liberalizing capital movements and risks for further deregulation are manageable.

"The FTZ will play a useful role in China's new round of reforms and opening-up in the coming decade, the success of which will be crucial to invigorate the Chinese economy and unleash its growth potential," wrote Barclays chief china economist Chang Jian.

Wang Xinkui, an economist participating in the draft of the FTZ plan, said China built the Shanghai FTZ to accumulate experience and confidence. "Experiences learnt in the FTZ will be shared nationwide," Wang said.

Previous 1 2 Next

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 99精品一区二区免费视频 | 国产一级久久免费特黄 | 完全免费在线视频 | 97在线精品 | 国产一级爱| 国产精品免费视频一区 | 国产精品青草久久福利不卡 | 91久久国产综合精品女同国语 | 国产精品成人一区二区三区 | 日韩精品a在线视频 | 99精品视频在线视频免费观看 | 久久免费手机视频 | 女人扒开双腿让男人捅 | 极品五月天 | 杨晨晨福利视频 | wwwxx在线| 男人的天堂在线观看视频不卡 | 中文字幕有码在线 | 久久久精品视频免费观看 | 韩毛片| 国产精品视频免费播放 | 真人一级毛片免费观看视频 | 国产成人黄色 | 久久合| www.亚洲在线| 欧美一级做一级爱a做片性 欧美一欧美一级毛片 | 久久经典免费视频 | 亚洲免费一区 | 欧美一级淫片免费播放口 | 精品在线一区二区三区 | 亚洲区精品 | 男操女b| a一级免费视频 | 久久性生大片免费观看性 | 精品国产精品 | 深夜在线观看大尺度 | 亚洲精品高清国产麻豆专区 | 国产精品一区二区国产 | 欧美亚洲国产日韩一区二区三区 | 毛片手机在线观看 | 亚洲视频观看 |