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

  Home>News Center>China
       
 

Foreign currency savings drop faster
(China Daily)
Updated: 2004-03-11 23:55

The downward trend in China's foreign exchange savings quickened last month, as depositors kept betting that the local currency, or renminbi, may appreciate.

The People's Bank of China (PBOC), the central bank, said Thursday that forex savings deposits fell by an abrupt 7.5 per cent on a year-on-year basis to US$83.2 billion at the end of February.

The pace was faster than the 4.9 per cent decline recorded at the end of January.

The growth of forex savings, which was typically fast in recent years as forex assets owned by Chinese depositors expanded, started to slow down early last year and dipped to negative territory near year-end.

"Expectations that the renminbi will soon appreciate remain a major reason," said Wang Yuanhong, senior analyst with State Information Centre.

"Many people still keep converting their forex assets into renminbi," he added.

Partly as a result, renminbi savings deposits continued to rise rapidly. The PBOC said earlier total savings, of which forex account for a small fraction, jumped by an annualized 18.6 per cent to 11.63 trillion yuan (US$1.4 trillion) at the end of January.

Speculation over a revaluation of the yuan, largely prompted by pressures from countries like the United States that says the yuan is undervalued, ran higher this year. The Chinese Government has been reiterating its stance that it would not revalue the currency any time soon but will gradually improve the exchange rate forming mechanism.

Rumours about an immediate appreciation of the renminbi swirled last month as some foreign financial institutions predicted that the currency may appreciate by 5 per cent within three months.

As forex savings kept falling, forex loans continued their fast growth as businesses increasingly opted to take on forex liabilities.

Outstanding forex loans at both Chinese banks and foreign banks operating here surged by 30.3 per cent on a year-on-year basis to US$136.4 billion at the end of last month, which compares to 27.8 per cent recorded one month earlier.

 
  Today's Top News     Top China News
 

Pakistanis may be near bin Laden's aide al-Zawahri

 

   
 

Government relaxes control of airfares, finally

 

   
 

U.S. launches WTO complaint against China

 

   
 

Report: China, Iran sign US$20b gas deal

 

   
 

FM to pay official visit to DPRK

 

   
 

women bosses urged to date and marry

 

   
  FM to pay official visit to DPRK
   
  As kids keep on calling, experts worry
   
  Gov'ts urged to clear up payments in arrears
   
  Sino-US trade advances amid problems
   
  Police website builds bridges to community
   
  Drought worsens capital water crisis
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
China sets no target for forex reserve
   
Forex chief: Don't bet on RMB appreciation
   
Forex chief: Don't betting on RMB appreciation
   
China to loosen control of forex purchases
   
No haste in forex reform
   
China's forex reserve exceeds US$400b
  News Talk  
  Staking a whole generation of Chinese entrepreneurs  
Advertisement
         
主站蜘蛛池模板: 在线一级片 | 香蕉视频一区二区 | 国产又粗又大又爽 | av高清在线| 国产黄a三级三级三级看三级男男 | 日本成人一区二区三区 | 成人a级片 | 日韩在线视频免费 | 精品无人国产偷自产在线 | 夜夜精品视频 | 欧美日韩中文 | 成人国产精品一区二区 | 国产精品久久久久久99 | 欧美日韩国 | 午夜视频一区 | 欧美在线 | 午夜激情视频在线观看 | 欧美久久一区二区 | 国产小视频在线 | 天天干夜夜撸 | 色播久久 | 又色又爽又黄18网站 | 毛片网站免费观看 | 国产精品理论 | 久久精品国产一区二区 | 日韩一级大片 | 免费在线观看黄色网址 | 自拍三区 | 国产无遮挡又黄又爽免费网站 | 久久久久久久久久国产精品 | 亚洲一区在线视频 | 一区二区网站 | 国产在线高清 | 解开岳的丰满奶罩bd | 色在线视频| 亚洲在线播放 | 三级黄网站| 中国极品少妇xxxx做受 | av网站在线免费观看 | 亚洲一区二区三区在线播放 | 亚洲综合区|