日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

China reduces foreign exchange risk reserve ratio to zero

Xinhua | Updated: 2017-09-12 08:54
Share
Share - WeChat

An employee counts renminbi and dollars at a bank in Qionghai, Hainan province. [Photo/VCG]

BEIJING - China's central bank has scrapped reserve requirements of 20 percent for financial institutions settling foreign exchange forward yuan positions, an official said Monday.

The foreign exchange risk reserve ratio was reduced to zero, according to Sun Guofeng, head of the financial research institute affiliated to the People's Bank of China (PBOC).

Meanwhile, the PBOC's substantial supervision on the reserves put aside by foreign financial institutions was also loosened.

The adjustment was made as the current market environment has changed greatly, which means counter-cyclical macro-prudential policies have given way to a neutral monetary policy, Sun said.

Sun said interest rates are primarily determined by economic fundamentals.

While remaining stable against a basket of currencies, the yuan has been on an upward trajectory against the US dollar this year due to the weakening greenback and steady expansion of the Chinese economy.

It is widely believed that the renminbi interest rate has fully reflected China's economic fundamentals and is broadly keeping at a reasonable equilibrium, Sun said.

"While the renminbi interest rate moving toward equilibrium, market expectations tend to be rational, cross-border capital flows and foreign exchange supply and demand become more balanced," said Sun.

A neutral monetary policy could improve liquidity and better serve the real economy, Sun added.

The central parity rate of the Chinese currency, the yuan, strengthened for the 11th consecutive working day to a fresh high against the US dollar Monday.

The central parity rate of the yuan strengthened 35 basis points to 6.4997 against the US dollar, breaking the psychologically important 6.5 barrier for the first time since May 2016, according to the China Foreign Exchange Trade System. It is the longest continuous daily rising sequence since 2005.

"The appreciation of the renminbi against the US dollar this year has been driven by a combination of US dollar weakness, China's tighter management of capital outflows, reduced risk of large scale US-China trade war, and improved economic performance and market sentiment on China," said UBS economist Wang Tao in a research note.

China's economy expanded 6.9 percent in the first half, well above the target of around 6.5 percent for the year.

Its manufacturing activity expanded for the 13th consecutive month in August, providing fresh evidence of a firming economy.

Forex reserves rose for the seventh month in a row in August to $3.092 trillion, increasing $10.8 billion from a month earlier.

China has decided to pursue a "prudent and neutral" monetary policy in 2017, applying a full range of policy instruments to maintain basic stability in liquidity and hold interest rates at an appropriate level.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 久久精品国产精品青草图片 | 久久伊人色综合 | jizzzxxxxhd| 夜夜操狠狠干 | 精品成人一区二区 | 国产福利不卡视频在免费播放 | 夭天曰天天躁天天摸在线观看 | 欧美久久久久久久一区二区三区 | 伊人伊人网 | 欧美另类性视频 | 亚洲一区二区福利视频 | 天天天天做夜夜夜夜做 | 亚洲午夜成激人情在线影院 | 日韩精品 电影一区 亚洲 | 韩国成人毛片aaa黄 人人天天操 | 日韩精品 电影一区 亚洲 | 天天看天天摸色天天综合网 | 久久视频在线视频 | 91精品国产综合久久久久 | 欧美大片在线播放 | 黄色网页在线 | 夜色在线影院 | 亚洲欧美日韩精品久久亚洲区色播 | 亚洲视频在线看 | 杏导航aⅴ福利网站 | 99免费视频| 中国免费看的片 | 国产精品亚洲一区 | 久久99国产精一区二区三区 | 欧美a区| 国产三级福利 | 国产91色在线 | 亚洲 | 国产成人在线观看免费网站 | 亚洲精品无码不卡在线播放he | 免费小视频 | 91成人精品 | 一级在线免费视频 | 午夜精品老牛av一区二区三区 | 52avcom | 久久亚洲欧美日韩精品专区 | 欧美精品无需播放器在线观看 |