www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Chinadaily.com.cn
 
Go Adv Search
Yuan to face downward pressure in 2012

Yuan to face downward pressure in 2012

Updated: 2012-03-15 08:22

By Wang Xiaotian (China Daily)

  Comments() Print Mail Large Medium  Small 分享按鈕 0

Investment growth rate to decline by more than half: senior researcher

The yuan will be under increasing downward pressure in 2012, and the increase in yuan holdings for foreign exchange purchases and the investment growth rate will both decline by more than half, a senior researcher close to the authorities said on Wednesday.

Liu Yuhui, director of the financial laboratory at the Institute of Finance & Banking at the Chinese Academy of Social Sciences, a prominent central government think tank, said he had obtained these forecasts from the central bank.

"Domestic and external conditions for yuan appreciation have changed dramatically compared with the past 10 years, leaving more room for two-way yuan fluctuation, instead of only appreciation."

Yuan to face downward pressure in 2012

Regarding external conditions, he said although yuan holdings in January had increased, the growth for each month will decline to somewhere below 150 billion yuan ($23.7 billion) in 2012, in contrast with 250 billion to 300 billion yuan in the past five years.

For 2012, the total increase in yuan holdings will shrink to 1.5 trillion yuan, compared with an average of 3 trillion yuan in the past five years.

Banks' holdings for purchasing foreign exchange, an indicator of capital flows, fell for the first time in four years in October by 25 billion yuan.

Holdings declined again in November by 28 billion yuan, and again in December by an even larger 100 billion yuan.

In January, however, holdings rose nearly 141 billion yuan.

The domestic situation was also changing, he said, as the past pattern of fiscal expansion will not continue.

"In that respect, the change will be reflected in a dive in the investment growth rate, which will drop to about 12 percent - the level when (former premier) Zhu Rongji led the cabinet - from about 23 percent in recent years," Liu said.

Judging by figures for new yuan loans by banks, which have been running below expectations, the tendency was very clear, he said.

Despite these trends and changes, he said, the yuan might not depreciate this year. The central bank will use its dollar holdings to support the currency if necessary, he said.

China recorded the biggest trade deficit in 22 years in February, and the slowest increase in January-February industrial output since 2009, according to data released by the Ministry of Commerce and National Bureau of Statistics last week.

Premier Wen Jiabao told a news conference on Wednesday that the yuan might have already reached an "equilibrium" level, judging by the trading situation in Hong Kong since September, and Wen said the government will allow relatively greater two-way fluctuation in the currency.

The yuan fell to the lowest level in more than seven weeks on Wednesday as the central bank set its reference rate against the dollar 0.1 percent weaker at 6.3328. The yuan dropped 0.1 percent to 6.3323 per dollar in Shanghai, the weakest since Jan 30. The currency has depreciated 0.3 percent so far this week, according to data compiled by Bloomberg.

A survey released on Monday by Standard Chartered Bank (China) Ltd looked at Hong Kong manufacturers based in the Pearl River Delta area, and found that nearly half of the 204 respondents expected the yuan will appreciate 3 to 5 percent this year against the dollar.

Contact the writer at wangxiaotian@chinadaily.com.cn

Related Stories

RMB exchange rate approaching equilibrium 2012-03-14 11:56
主站蜘蛛池模板: 男女乱配视频免费观看 | 亚洲国产cao | 亚洲综合一二三区 | 黄大片日本一级在线a | 免费一级美国片在线观看 | 欧美日韩一区二区三区视频在线观看 | 一区二区精品视频 | 欧美大片在线观看成人 | 免费一级毛片不卡在线播放 | 亚洲国产情侣一区二区三区 | 亚洲国产美女视频 | 操操综合| 欧美丰满大乳大屁股毛片 | 亚洲va老文色欧美黄大片人人 | 欧美高清免费精品国产自 | 久久夜色精品国产噜噜亚洲a | 久久久久久久国产 | 亚洲成a人一区二区三区 | 99精品福利 | 欧洲成人在线 | 成人爽爽大片在线观看 | 日本一区二区免费在线观看 | 日韩一区二区天海翼 | 在线成人免费看大片 | 久久久久久久久久毛片精品美女 | 久章草在线 | 国产日本三级 | 久久精品免观看国产成人 | 性做久久久久久久免费看 | 亚洲欧美综合国产精品一区 | 国产99视频在线观看 | 亚洲欧美日韩在线一区二区三区 | 午夜精品久久久久久99热7777 | 青青草国产一区二区三区 | 久99re视频9在线观看 | 99在线国产| 美国一级毛片片aa成人 | 成年人在线视频观看 | 一区二区三区免费视频观看 | 精品久久九九 | 韩国精品一区视频在线播放 |