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 / Economy

Watchdog says outflows of capital 'normal'

By ZHENG YANGPENG (China Daily) Updated: 2015-10-23 07:35

Watchdog says outflows of capital 'normal'

A Chinese resident displays his Chinese currency and US dollar banknotes in Qionghai city, South China's Hainan province, March 15, 2014. [Photo/IC]


Chinese individuals hold foreign currency in anticipation of the depreciation of the yuan?

Chinese enterprises and individuals are willing to hold foreign currency in anticipation of the depreciation of the yuan, but the top regulator said that does not equal a massive capital flight.

Statistics released by the State Administration of Foreign Exchange on Thursday showed China's commercial banks sold a net 729.6 billion yuan ($114.9 billion) of foreign exchange on behalf of clients in September, cooling from August's 807 billion yuan but still the second highest this year.

By comparison, in the second quarter banks just sold a net $4.6 billion on a monthly average level, while the figure in the third quarter was $65.4 billion, showing that favor for the US dollar (and aversion for the yuan) has not waned.

However, the deputy head of the State Administration of Foreign Exchange, Wang Xiaoyi, told a news conference on Thursday that the money outflows are "normal" and not a sign of panicked capital flight, and that China is confident in keeping international payments and receipts balanced.

"When companies receive foreign currencies, they are not destined to spend them overseas. They can use them to pay for imported goods, repay their onshore forex debt, or deposit them in domestic banks,"Wang said. Enterprises also showed a greater willingness for out-bound investment, which does not equate to panic-induced capital outflow, he said.

That said, China has announced some measures to curb yuan speculation. Wang said China is considering forex transaction fees to curb large, short-term cross-border capital flows. Central bank Deputy Governor Yi Gang made the same proposal in early October to deter currency speculators.

Wang also defended the central bank's intervention to keep the yuan steady after the yuan depreciated by 1.9 percent on Aug 11, triggering investors to bet against it. Now the market has returned to calm.

"Expectations have stabilized and the market believes the economic fundamentals do not support long-term depreciation, so arbitrage eased," he said. The yuan has strengthened 1.6 percent since a record low on Aug 12.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产精品特黄一级国产大片 | 久久99精品久久久久久国产越南 | se94se最新网站| 亚洲大片免费 | 国产玖玖在线观看 | 亚洲精品中文字幕一区 | 国产一级a毛片 | 亚洲视频三区 | 欧美成人高清免费大片观看 | 在线国产欧美 | 亚洲精品在线视频观看 | 国产高清自拍视频 | 在线观看一级片 | 最新国产精品自拍 | 国产精品分类视频分类一区 | 国产欧美日韩精品高清二区综合区 | 手机看片免费基地 | 米奇精品一区二区三区在线观看 | 美女个护士一级毛片亚洲 | 亚洲国产一区二区三区a毛片 | 正在播放国产大学生情侣 | 久久国产成人亚洲精品影院老金 | 久草热久草视频 | 日韩国产三级 | 性欧美高清极品xx | 午夜免费理论片a级 | 国产精品久久久香蕉 | 国产三级三级三级 | 午夜久久影院 | 亚洲精品在线免费 | 亚洲精品视频久久久 | 视频偷拍一级视频在线观看 | 巨大热杵在腿间进进出出视频 | 99久久精品国产一区二区 | 久久青青草视频 | 免费香蕉成视频成人网 | 免费人成在线观看 | 美国一级免费 | 国美女福利视频午夜精品 | 天堂8在线天堂资源bt | 色婷婷91 |