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

US EUROPE AFRICA ASIA 中文
Opinion / Op-Ed Contributors

Financial market reform on track

By Alan Cloete (China Daily) Updated: 2014-05-13 08:11

Deutsche Bank, which opened its seventh office in China - a sub-branch in the Pilot Free Trade Zone in Shanghai - on May 8, has a positive outlook on China's economic growth and the government's commitment to market liberalization. In fact, at 7.8 percent, our (Deutsche Bank's) economic outlook for China's GDP growth for 2014 is at the higher end of the consensus.

We also believe that reforms in the financial market, in which the bank plays a large role, are likely to occur more quickly than the broader market expects. This will have profound implications for China's financial system and its participation in the global economy.

The Chinese government's recent financial market reforms should be applauded. They include accelerating the opening up of the capital account and domestic financial markets through initiatives such as the Renminbi Qualified Foreign Institutional Investors and the recent joint in-principle approval by the China Securities Regulatory Commission and Securities and Futures Commission of the pilot Shanghai-Hong Kong Stock Connect program, which is aimed at establishing mutual stock market access between the Chinese mainland and Hong Kong.

Also, the renminbi-US dollar spot intra-day trading band has been widened from +/-1 percent to +/-2 percent, which indicates the government is committed to increasing the renminbi exchange rate flexibility and liberalizing its currency's exchange rate regulation.

The approval of the Shanghai-Hong Kong Stock Connect program demonstrates China is committed to accelerating the pace of capital account liberalization. This program is another policy milestone in the move to internationalize the renminbi, because it offers additional investment channel in the offshore renminbi circulation mechanism. It will also boost the demand for renminbi-denominated assets and promote the use of the Chinese currency for investment settlement purposes.

There is already a consensus in China on the direction of renminbi internationalization. But issues such as macroeconomic risks arising from the process and whether and how policies should promote the internationalization of the renminbi, and what pace the process should adopt remain subjects of debate. Our view is that there are three main areas of development that need to be addressed to enable the renminbi internationalization process to proceed smoothly.

Previous Page 1 2 Next Page

Most Viewed Today's Top News
...
主站蜘蛛池模板: 成人福利在线视频 | 国产网站视频 | 久久久精品免费观看 | 亚洲高清在线播放 | 亚洲 欧美精品 | 精品国产一区二区三区久久久蜜月 | 综合网婷婷 | 精品久久香蕉国产线看观看亚洲 | 国产黄三级三·级三级 | 色综合久久天天综合绕观看 | 国产视频资源在线观看 | 夜夜摸视频网 | 亚洲成人一区 | 97精品国产高清在线看入口 | 欧美一级片在线看 | 自拍偷拍亚洲视频 | 欧美第一页草草影院 | 日韩在线不卡视频 | 国产成人免费 | 欧美一级xxx | 亚州av在线 | 爽妇网国产精品 | 国产精品久久久久久久久免费 | 奇米影视第 | 国产a久久精品一区二区三区 | 久久精品久久久 | 日本一区二区三区中文字幕 | 福利色| 日韩二三区| 五月婷婷狠狠爱 | 免费视频97碰碰碰在线观看 | 成人小视频在线观看 | 国产一级视频 | 视频一区二区三区免费观看 | 精品国产99| 欧美欲乱妇135 | 九九久久99综合一区二区 | 国产成人久久精品二区三区牛 | 免费在线国产视频 | 波多野结衣手机视频一区 | 九九热在线免费观看 |