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
       
 

Official warns of huge 'hot money' inflows
(Agencies)
Updated: 2005-03-21 15:17

China's foreign exchange chief has stepped up his attacks on massive fund inflows, warning of "excessive speculation" in the property market.


Guo Shuqing, director of the State Administration of Foreign Exchange, answers reporters' questions in this March 7, 2005 photo. Guo was named candidate chairman of the China Construction Bank Ltd Co after the bank's former chairman Zhang Enzhao resigned earlier last week. [newsphoto]
"Indiscriminate support of exports and foreign capital influx has created short-term economic problems," said Guo Shuqing, director of the State Administration of Foreign Exchange, according to Xinhua news agency.

The problems include "excessive speculation in the property market and the economic decoupling of the fast-growing coastal areas with the rest of China," Guo was quoted as saying.

He said his administration had spotted foreign funds that entered China disguised as money for trade or direct investment purposes but ended up being used to buy financial assets and property.

"We found the phenomenon of one single (overseas) person buying up to 100 houses in coastal cities," Guo was quoted as saying. "This is apparently speculative activity."

It is not the first warning from Guo, who is reportedly about to take over the reins at China Construction Bank after its chairman resigned amid corruption allegations.

Earlier this month, Guo warned of "no end of trouble for the future" unless local governments were made aware of the risks of soaking up foreign funds.

China's foreign reserves in 2004 soared to a record US$609.9 billion from US%403.3 billion in 2003, with China now second only to Japan in the amount held.

Observers believe that part of the inflow could be speculative money betting that China will have to raise the value of its currency, the yuan.


Workers paint Chinese characters on the wall of a new development in Beijing. China's foreign exchange chief has stepped up his attacks on massive fund inflows, warning of 'excessive speculation' in the property market. [AFP/file]
These theories were boosted last month when China published balance of payments statistics for 2004 showing a net errors and omissions entry worth a positive US%20 billion.

No explanation for the errors and omissions figure was given but in the past some analysts have said they may indicate irregular capital flows, which up until recently had been largely negative.



 
  Today's Top News     Top China News
 

China's economy to grow 8% annually from 2006 to 2010

 

   
 

Rice: US observes one-China policy

 

   
 

China, US work to forge balanced trade

 

   
 

Official warns of huge 'hot money' inflows

 

   
 

Farmers to choose new village committees

 

   
 

Mine gas explosion kills 60 in Shanxi

 

   
  China plans database of HIV/AIDS victims
   
  China's economy to grow 8% annually from 2006 to 2010
   
  Rice: US observes one-China policy
   
  Farmers to choose new village committees
   
  Hangzhou gets animated to host festival
   
  Mine gas explosion kills 60 in Shanxi
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Top banker: Not much 'hot money' in China
   
'Hot money' becomes scapegoat for price gap
   
Hot money hiking property prices?
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 超碰国产在线 | 麻豆成人免费视频 | 日日干夜夜爽 | 国产精品久久久久久久久久久久久久久 | 黄色免费网站 | h片免费观看 | 福利视频网站 | 国产精品看片 | 国产成人99久久亚洲综合精品 | 99国产精品99久久久久久粉嫩 | 黄色大片视频 | 一级片黄色片 | 日韩欧美精品 | 日本在线视频观看 | 国产农村妇女精品一二区 | 久久久久久艹 | 黄色高潮视频 | 精品国产三级 | 国产伦精品一区二区 | 一区二区在线视频 | 一级片网址 | 欧美精品在线看 | jizz中国女人高潮 | 在线不欧美 | 成人精品| 欧美一级片在线 | 中文字字幕| 国产精品美女久久 | 精品福利在线观看 | 国产日本精品 | 欧美韩日| 亚洲精品色 | 欧美女同视频 | 日韩香蕉视频 | 欧美国产一区二区 | 日韩免费在线播放 | www中文字幕 | 国产精品6| 午夜福利毛片 | 麻豆av在线免费观看 | 国产精品手机在线观看 |