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

US EUROPE AFRICA ASIA 中文
Business / View

Credit-asset pledged relending expansion not QE

(Xinhua) Updated: 2015-10-15 08:47

BEIJING - The expansion of a credit-asset pledged relending program should not be misinterpreted as a Chinese version of quantitative easing (QE), a senior economist of the central bank told Xinhua on Wednesday.

It will not have a significant impact on total liquidity and should not be misread as a kind of QE, said Ma Jun, chief economist at the research bureau of the People's Bank of China (PBOC).

Credit-asset pledged relending allows banks to refinance high-quality credit assets rated by the central bank. Under the program, the central bank lends money to commercial banks which use high-quality credit assets as pledge.

Relending is a traditional form of central bank's base money supply, but the PBOC previously had a strict requirement of accepting only government bonds, PBOC notes, bonds from policy banks and top-rated corporate bonds as collaterals.

The PBOC announced last Saturday it would expand the pilot program from Shandong and Guangdong to nine municipalities and provinces, including Shanghai, Tianjin, Beijing and Chongqing.

The move is intended to cut borrowing costs and guide more funds into agriculture and small enterprises to boost the real economy, the PBOC said.

The expansion has been characterized by some as a Chinese-style quantitative easing, with speculation that it will bring as much as seven trillion yuan into the market.

"The expansion of the program does not mean the central bank will inject liquidity on a large scale," said Ma, adding that the annual growth target of outstanding broad money supply (M2) will remain unchanged at 12 percent.

He said the expansion of the program is prerequisite for local financial institutions to obtain more liquidity support, but it does not necessarily mean all the local financial institutions will automatically receive liquidity support.

The main purpose of the expansion is to fine-tune liquidity management by the central bank, especially to facilitate short-term fund injections to small and medium banks, to avoid financial risks, said Zeng Gang of the Chinese Academy of Social Sciences.

He said the move can be seen as an attempt by the central bank to maintain financial stability and raise the banking system's capability to support the real economy.

China's positions for forex purchases, an important indicator for foreign capital flow in and out of China as well as domestic yuan liquidity, witnessed a record dive of 723.8 billion yuan ($113.6 billion) to 28.2 trillion yuan in September.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲高清色 | 综合亚洲欧美日韩一区二区 | 黄色网址进入 | 操美国女人 | 国产一区私人高清影院 | 香蕉成人在线视频 | 亚洲综合色一区二区三区小说 | 亚洲日本欧美产综合在线 | 色综合日韩| 国产区精品 | 免费亚洲成人 | 国产成人精品一区 | 久久精品香蕉视频 | 欧美精品xxxⅹ欧美 欧美精品不卡 | 日韩毛片在线免费观看 | 国产中文久久精品 | 免费一看一级欧美 | 91成人在线免费视频 | 在线观看视频国产 | 午夜限制r级噜噜片一区二区 | 一级性毛片 | 男女配种猛烈免费视频 | 国产免费自拍视频 | 婷婷丁香久久 | 亚洲图片视频在线观看 | 国产亚洲精品久久麻豆 | 日本亚欧乱色视频在线网站 | 神马我我不卡伦影视 | 国产一区二区在免费观看 | 黄+色+性+人免费 | 久久亚洲成人 | 色偷偷亚洲第一成人综合网址 | 国产成人精品福利网站在线 | 夜色邦合成福利网站 | 日本不卡在线一区二区三区视频 | 久久久久999 | 欧美乱爱| 国产香蕉影视院 | 欧美精品v欧洲精品 | 初爱视频教程在线观看高清 | 国产视频一区二区三区四区 |