Morning Post reporter Du Qinqing
"2009 China net inflow of foreign exchange pressures has been larger, estimated " 35 " period maintained a net inflow of foreign exchange situation. "China's State Administration Deputy Director Fang Shangpu fourth yesterday told a financial Forum in Yangtze River Delta.
Fang Shangpu pointed out that China's economic recovery, and spreads, the meeting such as factors, pressure larger net inflow of foreign exchange since China 2009, net inflows of foreign exchange funds in China in the first quarter of this year the pressure is still large, with market players avoid exchange rate risk for the purpose of the net inflows increased markedly.
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Greece prospects douzeng variables euro downward risk or increased IMF variable array suspicion RMB exchange rate current underestimated insufficient 2% eurozone April inflation rate create 30 months high euro continued fell prospects difficult material IMF are power vacuum parties rivalry took over as who United States borrowing ceiling of race increasingly intense national day Xin months site revealing three quarter layout opportunity he think , "35" during Exchange is will continued inflow, first, international financial crisis recovery Foundation also does not solid, some main developed currency policy to also is not clear of, global range within liquidity excess also is not changed; second, China attract foreign inflow of economic and environment is not variable; third, because interest rate, and exchange rate factors led territory enterprise market main Exchange settlement wishes strong, territory market main actively adjustment this foreign currency liabilities structure, such as enterprise large take into dollars loan to alternative purchased meeting, formation "liabilities foreign currency of, and assets currency of" trend; in addition, does not excluded has arbitrage funds using various legitimate channel penetration entered China market.
worth mentioning is that the party pumped also noted that, with China's foreign exchange reserves exceeded $ 3 trillion in the first quarter of this year, some believe that "foreign exchange management system of compulsory settlement is an important reason leading to sustainable large-scale growth of foreign currency reserves" point of view, is actually a misunderstanding.
"reference to forced exchange settlement stems from the exchange controls era, is now completely obsolete concept. "Side-pumped on, Foreign Exchange Management Department since 2002 Exchange settlement system reform by 2007 has allowed companies under their own operational needs, retained its own overseas foreign exchange income. In August 2008, the new national foreign exchange control regulations is further established the system, clear can be provides for the retention of foreign exchange earnings or sell the Bank on January 1 this year and further allows enterprises to export earnings deposited overseas without further transferred back to the territory. Fang Shangpu believes that, in the context of the existing foreign exchange management, whether companies or individuals if it is true can under their foreign exchange earnings needed to determine whether the Exchange was sold to banks or is retained on the Foreign Exchange accounts.
