在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

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

Reserve ratio may be cut to stabilize growth

By Zhou Lanxu | China Daily | Updated: 2018-12-27 07:33
Share
Share - WeChat
Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, Oct 8, 2018. [Photo/IC]

Policy could offset pressure of falling foreign exchange reserves, experts say 

China may cut the reserve requirement ratio in 2019 to ensure reasonably ample liquidity and stable economic growth, analysts suggested.

"In the near future, it is necessary to cut the ratio to achieve proper growth in money supply," said Yang Weiyong, an associate professor of economics at the University of International Business and Economics.

The ratio dictates how much of a bank's total deposits should be kept in the vault rather than lent out or invested elsewhere.

Cuts in the ratio could offset the pressure of falling foreign exchange reserves on the growth of money supply, which should maintain a proper speed, Yang said.

The country's foreign exchange reserves fell to slightly above $3 trillion this year after peaking at nearly $4 trillion in 2014, according to the State Administration of Foreign Exchange.

"There is still plenty of room to cut the RRR," Yang added. The ratio for large banks has dropped to 14.5 percent this year-still much higher than the 8 percent level seen in 2006, Yang said.

The tone-setting Central Economic Work Conference announced that China will maintain a "prudent" monetary policy, "neither too tight nor too loose", while maintaining liquidity at a "reasonably ample level" in 2019, according to a statement after the conference.

Based on the statement, the financial research arm of the Bank of Communications estimated the People's Bank of China, the central bank, may cut the ratio two or three times next year, but is unlikely to cut interest rates.

"Unless facing serious negative shocks, China is unlikely to see broad stimulus measures to expand credit," it said.

Tang Yao, an associate professor at Peking University's Guanghua School of Management, said more work must be done to convert reasonably ample liquidity into credit growth.

"Liquidity conditions have improved in the past half year, with a notable decrease in interest rates in interbank lending markets. Financing difficulties, however, are still plaguing some private enterprises, especially small businesses," Tang said.

To solve the problem, the central bank has rolled out targeted ratio cuts and "targeted medium-term lending facilities"-recent moves aimed at reducing banks' costs of lending to the private sector and small businesses.

The conference also pledged a further smoothing out of monetary policy transmission mechanisms, and more accessible and affordable financing for the private sector and small businesses.

Liang Si, a researcher at the Bank of China's Institute of International Finance, said macroeconomic polices should work together to enhance financial institutions' willingness to grant private enterprises credit.

Tax and fee reductions should be put into place, thus helping improve private enterprises' profitability and reducing risks faced by banks when lending to them, Liang told the Economic Information Daily.

The National Development and Reform Commission announced last month a slew of measures to make bond markets more supportive of private enterprises.

UIBE's Yang said the fundamental approach to smoothing out transmission mechanisms is to further promote interest rate liberalization, which means relying more on the market to allocate financing resources.

"This will match up riskier loans with higher interest rates, and enhance efficiency of both the private and State-owned sectors," Yang said.

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: 色吊丝在线永久观看最新版本 | 色综合久久天天综合网 | 美女久久 | 五月婷婷中文 | 精品1区| 国产视频在线播放 | 狠狠爱www人成狠狠爱综合网 | 国产精品视频免费 | 激情视频网 | 亚洲欧美日韩天堂 | 国产日韩在线视频 | 久久国产精品首页 | 久久伦理中文字幕 | 国产成人久久 | 国产精品一区亚洲二区日本三区 | 亚洲国产一区二区三区 | 黄色小视频在线观看 | 日韩欧美综合 | 日韩欧美国产精品综合嫩v 狠狠综合久久 | 精品国产乱码一区二区三 | 欧美一级久久 | 国产主播一区 | 日韩福利在线 | 国产精品视频在线观看 | 精品色区 | 精品亚洲一区二区三区 | 欧美激情视频久久 | 欧美视频亚洲视频 | 中文字幕成人在线视频 | 久久久网站| 免费观看毛片 | 一区二区日韩精品 | 精品久久久久久久 | 久久久久久亚洲精品中文字幕 | 国产大片中文字幕在线观看 | 日韩中文字幕免费 | 国产精品成人在线观看 | www久久久 | 日韩综合| 天堂网中文在线 | 日韩免费一区二区三区 |