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

   

CHINA / National

Individuals, firms can invest overseas
By Zheng Lifei (China Daily)
Updated: 2006-04-15 07:17

China will allow qualified financial institutions such as commercial banks, insurers and fund companies to invest overseas, the People's Bank of China (PBOC) said in a statement on Friday.

Companies and individuals will also be allowed to hold more foreign exchanges, a sign of accelerating reform of the foreign exchange regime.

Experts believe the move signals formal approval from the central government for the Qualified Domestic Institutional Investors (QDII) scheme.

According to the central bank, commercial banks can now pool domestic yuan deposits from both individuals and institutions and convert them into foreign exchange to invest in fixed-income investment products abroad.

Fund companies will be able to use foreign currency holdings held by individuals or institutions to invest in overseas securities markets.

Insurers will also be given the green light to invest a certain proportion of their assets in fixed-income and other products abroad, the central bank said.

Previous controls on foreign exchange accounts will be relaxed and approval procedures for foreign exchange payments in the service trade will be simplified, it said.

Corporations and individuals will be able to buy foreign currencies more easily.

Individuals, for example, will be allowed to buy up to US$20,000 in foreign exchange a year, up from the previous quota of US$8,000.

The major policy adjustment comes as the country's forex reserve has hit a record high.

Fuelled by continuous trade surpluses and direct foreign investment, China's official forex reserves reportedly rose to US$853.6 billion at the end of February, overtaking Japan as the world's biggest holder for the first time.

"The eased control on foreign exchanges will help slow down the rapid increase in the country's forex reserves," said Zhang Xuechun, an economist with the Asia Development Bank (ADB).

She noted that the previous tight control on foreign exchange outflow and lax restriction on inflow led to fast accumulation of China's forex reserves.

Zhang said the policy adjustment will help Chinese companies in need of foreign exchanges improve their management and avoid risks in the foreign exchange market.

"It's a significant step in establishing a more market-driven foreign exchange mechanism," she said.

"The easing of controls on foreign exchange also shows China's increasing confidence in its foreign exchange management capability," she added.

The central bank has taken a number of measures to loosen capital controls recently.

One new policy favours a shift from stockpiling foreign exchange reserves in State coffers to letting businesses and residents hold more foreign currency, Wu Xiaoling, deputy central bank governor, said earlier this month.

"The People's Bank of of China will closely monitor the international balance of payment and adjust policies accordingly to avoid risks and safeguard economic and financial security," the central bank said.

(China Daily 04/15/2006 page1)

 
 

Related Stories
 
主站蜘蛛池模板: 91av成年影院在线播放 | 亚洲国产精品久久网午夜 | 亚洲 自拍 欧美 综合 | 日韩视频精品在线 | 在线国产高清 | 精品一区二区三区中文 | 成人免费高清视频 | 欧美精品久久久久久久影视 | 免费看男女做好爽好硬视频 | 亚洲视频在线一区二区 | 国产真人毛片一级视频 | 国产精品成人观看视频免费 | 成人国产第一区在线观看 | 精品日韩二区三区精品视频 | 香蕉久久夜色精品国产尤物 | 黄影院| 国产三级日产三级韩国三级 | 色本 | 亚洲免费a | 黄色成人毛片 | 国产一区在线观看免费 | 在线视频亚洲 | 99久久在线 | 中文字幕日韩精品有码视频 | 青青草国产免费一区二区 | 欧美日韩人成在线观看 | 日本护士视频xxxxxwww | 在线观看国产精品日本不卡网 | 亚洲在线国产 | 91久久综合九色综合欧美98 | 欧美白人猛性xxxxx交69 | 日韩毛片欧美一级a | 一级黄色香蕉视频 | 久久久这里只有精品免费 | 91一区二区在线观看精品 | 国产精品久久久久国产精品 | 国内黄色精品 | 婷婷丁香花麻豆 | 朝鲜美女免费一级毛片 | 日韩一区国产二区欧美三区 | 女人张开腿让男人桶个爽 |