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

Economy

'Hot money' fear holds yuan settlement plan

By Ding Qingfen and Wang Xiaotian (China Daily)
Updated: 2011-02-22 07:14
Large Medium Small

BEIJING - The risk of a surge in "hot money" is one of the reasons why China is unlikely to allow foreign companies to make yuan investments this year, even though a feasibility study was completed last year, said an unnamed source with the Ministry of Commerce (MOC).

Related readings:
'Hot money' fear holds yuan settlement planInflow of 'hot money' hits $35.5b 
'Hot money' fear holds yuan settlement planChina reports $35.5b of hot money inflow in 2010 
'Hot money' fear holds yuan settlement planChina to combat hot money inflows in 2011 
'Hot money' fear holds yuan settlement planZhou: FX reserve can be pool to hold hot money 

"The ministry looked at permitting foreign enterprises to invest using the yuan last year, but launching the plan will still take quite a long time," an official from the ministry in charge of foreign exchange issues told China Daily on condition of anonymity.

"Hot money", or short-term speculative capital, is a major concern for economic planners as it leads to quickly rising prices in the sector it targets.

Some foreign investors have criticized the domestic investment environment after Jeffrey Immelt, the CEO of General Electric, said last summer that it was getting worse. Government officials have since reiterated the nation's policy of greater interaction with the international community and rejected claims of bias against foreign companies. Officials have cited growing figures for foreign direct investment (FDI).

Minister of Commerce Chen Deming said earlier this year in Beijing that the government will take measures to simplify the approval process for new investment applications.

In response to calls from foreign businesses, the ministry began to study the possibility of yuan settlement for FDI in 2010, said the ministry source.

Foreign investors believe that settlement in the domestic currency would be more convenient and reduce costs.

In 2010, China's FDI reached $105.74 billion, up 17.4 percent year-on-year, and the figure grew by 23.4 percent to $10.03 billion in January.

Currently, foreign companies wishing to invest in China must first get permission from the MOC before winning approval from the State Administration of Foreign Exchange (SAFE) to convert their foreign exchange into the yuan.

But the source said the ministry needs to discuss it with the central bank before the proposal is finally submitted to the State Council for approval.

"I cannot see the possibility that the plan could be implemented soon because this would probably lead to a huge influx of 'hot money' into China," he said.

The government has been concerned about the possible influx of "hot money" into China's real estate and stock markets while the United States continues its loose monetary policy.

China's foreign exchange reserves hit a record $2.85 trillion by the end of last year, 18.7 percent up from a year earlier.

But the SAFE announced last Thursday that the "hot money" inflow into China last year was merely $35.5 billion, 7.6 percent of the increase in foreign exchange reserves for 2010.

"The government has reasons to worry about it ('hot money'), as speculative money would probably flow into China by way of FDI," said E Yongjian, senior researcher at Bank of Communications.

"Nobody can predict the size of the inflow, but we have to be alert."

Experts said growing speculative capital inflows could make it harder to control inflation, which hit 4.9 percent in January, up from December's 4.6 percent.

But some experts welcomed the plan, saying it would assist China in absorbing more foreign investment and quicken the process of yuan internationalization.

"The move would effectively accelerate the internationalization process of the yuan. China could consider allowing foreign companies to invest using the yuan in the near future," said Chen Daofu, policy research chief of the Financial Research Institute at the State Council's Development Research Center.

主站蜘蛛池模板: 1024手机基地在线看手机 | 青木玲中文字幕一区二区 | 国内精品久久久久久久久久影视 | 9丨精品国产高清自在线看 ⅹxx中国xxx人妖 | 欧美性精品videofree | 欧美xxxxxxxxxxxxx| 国产中文久久精品 | a级毛片在线视频免费观看 a级免费 | 久久99精品久久久久久久不卡 | 国产视频软件在线 | 免费视频观看在线www日本 | 九九综合视频 | 国产日韩欧美swag在线观看 | 日韩精品小视频 | 看a网址| 91精品国产免费久久 | 九九精品免视看国产成人 | 国产欧美久久久精品影院 | 国产成人亚洲欧美三区综合 | 欧美成人免费高清视频 | 国产欧美日韩免费一区二区 | 欧美性群另类交 | 国产精品日本一区二区在线播放 | 九九在线偷拍视频在线播放 | 久久爽久久爽久久免费观看 | 亚洲性影院 | 日韩在线国产精品 | 狠狠88综合久久久久综合网 | 国产一级特黄特色aa毛片 | 久久精品久久精品久久精品 | 青青爽国产手机在线观看免费 | 国产做a爰片久久毛片 | 国产精品免费观看视频播放 | 国产在线一区二区三区在线 | 精品欧美成人高清在线观看2021 | 中国一级淫片aaa毛片毛片 | 成人精品亚洲 | 中文字幕福利片 | 伊人网在线免费视频 | 偷拍视频一区在线观看 | 欧美日韩色黄大片在线视频 |