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
Opinion
Home / Opinion / Opinion Line

Capital welcome, but beware of illegal inflow

China Daily | Updated: 2021-03-04 07:42
Share
Share - WeChat
A teller counts and arranges dollar notes at a bank in Huaibei, Anhui province. [Photo/Sipa]

Compared with other countries, China's asset prices are very attractive, because of which the inflow of foreign capital is inevitable, China Banking and Insurance Regulatory Commission Chairman Guo Shuqing said at a news conference on Tuesday.

The scale of the influx of foreign capital is still within controllable range, Guo said, adding that the commission is taking more effective measures to, on the one hand, encourage cross-border capital flows, and on the other hand, prevent big fluctuations in the domestic financial market.

The message from the head of the banking and insurance industries watchdog comes at the right time, because the quantitative easing policy of the Federal Reserve is causing the flight of capital from the United States to other countries, causing overheating of the economy and asset bubbles. The US' ability to upset financial stability elsewhere is quite strong, as shown by the financial crises it triggered in Latin America and Southeast Asia in the late last century through large-scale capital flow.

China suffered during the international financial crisis in 2008, becoming one of the major destinations for currency notes the US printed to bail out its economy. The money not only sought riskless arbitrage in the interest rate and exchange rate markets in China, but also rapidly pushed up housing prices in the country. It was only after the Federal Reserve claimed it was ending its quantitative easing policy in late 2014, propelled by China's exchange rate reform, that speculative capital began to leave China in large numbers.

Now China is facing a similar situation. The US is losing control of its debt scale, and the excessive supply of government bonds will only prompt investors to dump the treasury bonds. The mounting inflation risks and the government's heavy debts are spurring capital to escape from dollar assets to other countries, particularly China, which is the sole major economy with positive growth and showing considerable resilience.

As such, even though it should still welcome normal cross-border capital flows and foreign investment, especially in the sectors it needs, China must guard against the inflow of hot money, and the policymakers must adjust the financial policies to prepare for excessive inflow of foreign capital.

The real estate market and the staple commodity market are the key places to prevent systematic financial risks.

Most Viewed in 24 Hours
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
主站蜘蛛池模板: 久9久9| 精品一区二区三区在线视频 | 日韩精品久久久久久 | 男女性情视频 | 伊人欧美 | 国产精品视频网 | 我要色综合网 | 色成人综合 | 亚洲日本久久久午夜精品 | 久久99精品久久久久久琪琪 | 亚洲一区美女 | 成人tv | 四虎影视国产884a精品亚洲 | chinese18 xxxx videos| 三级免费黄 | 耽美男男肉文 | 黄色成年在线观看 | www.日韩在线 | 午夜国产亚洲精品一区 | 国产专区视频 | 天天做天天爱夜夜爽女人爽宅 | 亚洲97| 欧美人与禽性xxxxx杂性 | 午夜理论电影在线观看亚洲 | 91短视频在线免费观看 | 久久婷婷在线 | 久久精品99 | 一区二区三区在线 | 网站 | 日本老妇乱子伦中文视频 | 亚洲色片网站 | 日韩久草 | 久久成人免费视频 | 国产真人做爰视频免费 | 日韩午夜电影 | 精品午夜久久网成年网 | 亚洲综合精品香蕉久久网97 | 亚洲影院一区 | 亚洲视频免费在线观看 | 日韩高清成人 | 久久综合九色综合欧洲 | 色成人在线 |