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 stops encouraging exporters to remit forex

(Reuters)
Updated: 2007-07-10 08:31

China has scrapped a set of rules that provided incentives for exporters to bring home as much foreign currency as they could, signifying another step in its efforts to ease capital inflows.

In the wake of the Asian financial crisis in the late 1990s, China introduced a series of measures encouraging exports and inflows of foreign exchange, to help boost its financial footing.

Its capital and current account surpluses have since soared, and the central government is now trying to reverse the situation to ease the upward pressure on the yuan created by such inflows.

The State Administration of Foreign Exchange (SAFE) said on Monday that it had rescinded, as of July 1, a set of rules dating back to 1999 that had provided incentives for exporters to exchange their forex earnings with banks in a timely manner, as well as punishments for those that did not.

The agency said that while the rules had been appropriate at the time and played a big role in encouraging the country's accumulation of foreign exchange, they were now being cancelled "in line with the present needs of economic development".

The rules had allowed for preferential treatment in customs procedures and bank lending for export firms with good track records in remitting foreign exchange, and penalties as severe as revoking of export licenses for the worst offenders.

The removal of such incentives complements initiatives to encourage capital outflows, such as the Qualified Domestic Institutional Investor (QDII) scheme, which allows financial institutions to invest client funds overseas.

Economists say that with massive inflows of foreign currency from the trade surplus and investment, it will be increasingly difficult for the central bank to control growth in money supply if it continues to attempt to keep the yuan from appreciating too sharply.

The foreign exchange regulator has accordingly been adjusting its supervision of capital flows, stepping up oversight of speculative inflows betting on yuan appreciation while also making it easier for companies with good track records.

To that end, SAFE last year earmarked 5,300 firms as "needing special attention" -- meaning they were suspected of dealing in "hot money" through disguised trade flows.



Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 久久99中文字幕 | 久久久久综合一本久道 | 国产成人综合洲欧美在线 | 一区二区不卡视频在线观看 | 男子操女子| 成人精品第一区二区三区 | 日本三级香港三级人妇99 | 91年精品国产福利线观看久久 | 久久99精品久久久久久久野外 | 久9视频这里只有精品 | 99国产在线播放 | 亚洲社区在线 | 日韩中文字幕一在线 | 一级毛片区 | 成人免费一级毛片在线播放视频 | 亚洲一区二区三区精品影院 | 91亚洲最新精品 | 日韩a级一片 | 亚洲国产欧美在线人成精品一区二区 | 99热播| 免费毛片a线观看 | 高清精品一区二区三区一区 | 欧美亚洲国产成人精品 | 天堂成人av | 久久88香港三级台湾三级中文 | 成 人 动漫在线观看网站网站 | 亚州视频一区 | 精品午夜寂寞黄网站在线 | 男女无遮掩做爰免费视频软件 | 亚洲毛片在线播放 | 日韩三级在线免费观看 | 一区在线免费 | 色偷偷在线刺激免费视频 | 国产成人精品一区二区视频 | 亚洲欧美综合网 | 天空在线观看免费完整 | 精品久久一区 | 国产手机在线视频放线视频 | 寡妇野外啪啪一区二区 | 欧美成人午夜做爰视频在线观看 | 欧美日本一道高清二区三区 |