久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

China must beware dollar fall - bank adviser
(Reuters)
Updated: 2005-12-30 13:05

China is on track for robust growth next year but a drop in the dollar could fuel pressure on the yuan and erode the country's foreign currency reserves, an adviser to the central bank said in remarks seen on Friday.

The economy should be able to grow around 9 percent in 2006, considering the government's ability to spur demand with its budget to offset slowing export and investment growth, Yu Yongding was quoted as saying by the China Securities Journal.

"Because China's fiscal situation is relatively sound, the government has relatively great leeway to use expansionary fiscal policy," said Yu, a prominent academic who sits on the central bank's monetary policy committee.

The government would probably raise salaries for its employees next year, which would help push up wages nationwide and boost household consumption, he said.

But Yu warned that the United States might stop raising interest rates in 2006 and start guiding the dollar downward, putting upward pressure on the yuan.

"More seriously, China's economy would take a big hit if the U.S. dollar weakened sharply due to such factors as a bursting of the U.S. property bubble," he said. "The loss for China's foreign exchange reserves would be extremely serious."

At the end of September China had $769 billion in foreign exchange reserves, the world's largest after Japan's.

Yu has previously said the dollar, which has strengthened on global markets in recent months, would be vulnerable as long as the United States ran a huge current account deficit.

The yuan has appreciated a further 0.48 precent against the dollar since a landmark 2.1 percent revaluation on July 21.

Officials have ruled out another one-off revaluation but have pledged to introduce more flexibility into the currency through market-based reforms.

Yu said the central bank should not alter the basically stable trend of monetary policy. Merely expanding money supply would not help companies get more loans, because lenders had been under pressure to shore up risk controls, he said.

"Some firms feel that bank credit is tight, but that's resulted from banks' efforts to tighten up risk controls rather than monetary policy, and we cannot resolve the tight credit problem by expanding money supply," Yu was quoted as saying.

Economists have said stringent government requirements on capital adequacy ratios had forced banks to slow down lending.

Yu said the central bank's deliberate efforts to keep money market interest rates low since the revaluation had helped deter speculation on the currency, but low market rates had also burdened banks' profits.

Commercial banks should be allowed to lower deposit and lending rates and step up lending to small companies, he said.

In fact, market rates have risen a little since vice central bank governor Wu Xiaoling seemed to acknowledge the problem by saying on Oct. 21 that she hoped rates would not stay as low they they were.



15 trapped in coal mine flooding
Saving children with leukaemia
Questionable donation returned to the US
  Today's Top News     Top China News
 

Minister: Information flow will be made easier

 

   
 

Military diplomacy helps development: article

 

   
 

China confirms 3rd human bird flu death

 

   
 

Rural areas 'must be strengthened'

 

   
 

Wang remembered for enhancing ties

 

   
 

China must beware dollar fall - bank adviser

 

   
  China confirms 3rd human bird flu death
   
  Inspection begins on section of Great Wall
   
  Police crack down on online sex shows
   
  Project to help leukaemia sufferers
   
  Beijing to set example for energy efficiency
   
  Key gov't appointments announced
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Yuan gains; revaluation pressure to ease
   
China restates yuan to rise gradually
   
China: No change to yuan policy
   
Currency decisions 'sovereign' - Snow
   
No yuan convertibility timetable: Central bank
   
Stronger RMB level in line with forex rules
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 男女男精品视频网站在线观看 | 日韩欧美国产精品 | 精品视频在线播放 | 九九热视频在线免费观看 | 亚洲欧美日韩精品久久亚洲区色播 | 99久久国产综合精品五月天 | 大美女香蕉丽人视频网站 | 国产真实一区二区三区 | 亚洲一区二区三区精品视频 | 精品女厕沟底拍撒尿 | 欧美日韩国产一区二区三区在线观看 | 亚洲天堂视频在线 | 最新国产午夜精品视频不卡 | 亚洲成人免费在线观看 | 九九热爱视频精品视频高清 | 亚洲a网 | 国产免费高清在线精品一区 | 国产伦精品一区二区三区精品 | 国产黄毛片 | 久久久久在线观看 | fulidown国产精品合集 | av成人天堂 | 欧美日韩中文字幕在线观看 | 国产aⅴ一区二区三区 | 国产日韩欧美综合一区二区三区 | 97国内免费久久久久久久久久 | 日本免费人做人一区在线观看 | 亚洲精品中文字幕一区 | 亚洲国产第一区二区三区 | 日本波多野结衣在线 | 日本伊人精品一区二区三区 | 男人的天堂在线 | 小泽玛利亚的一级毛片的 | 国产农村乱 | 亚洲欧美成人综合久久久 | 请看一下欧美一级毛片 | 嫩草影院ncyy在线观看 | 在线观看免费毛片 | 亚洲精品午夜一区二区在线观看 | 国产精品日韩欧美在线 | 国产亚洲综合在线 |