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甘肃省翻译公司关键字：signal.In fact, after the Chinese government has taken, directly or indirectly, to resolve a number of "hot money" pressure measures. 4-8 months of this year, twice the People's Bank issued a total of 285 billion yuan of central bank bills, for the return of funds to offset the "hot money" will bring rapid growth of the amount of base money. On this basis, the central bank again on August 23, announced the deposit reserve ratio from 6% to 7%, according to the deposits of 15 trillion yuan this year's calculation, the move also will return the base currency of about 150 billion yuan.
In taking the "hedging" measures, the State Administration of Foreign Exchange has decided on October 1 this year, the substantial increase in domestic resident individuals leaving the country to purchase foreign exchange limit for the exchange to expand the scope of the individual to relax the individual purchase of foreign exchange current account policy. This not only improves the utilization of the country's foreign exchange reserves, but also to reduce the resulting pressure.
Beijing Institute of Economics researcher Zhang Shuguang day that, in order to prevent "hot money" quick out of the economy led to sharp fluctuations, on the one hand to guide the foreign exchange into RMB should be locked in as far as possible, "easily into the easy out" of the project; another To find more in the way foreign exchange, foreign exchange to prevent excessive idle funds, foreign funds should be diverted to more businesses and residents to reduce the risk of state holdings.
"The current currency withdrawn from circulation taken to improve the range of measures can only go abroad to purchase foreign exchange to ease pressure on the moment, I think, to solve the 'hot money', the most important thing is to change the current exchange rate regime." Chen star of " Beijing Weekly "said.
Chen star that China adopted the dollar peg is a single "special period of special products", as the world economic structure changes, this system has revealed some shortcomings, such as economic development by the unilateral power to contain too much , and thus should remain pegged to the dollar from only a single exchange rate system gradually with the 'basket' currency to maintain a stable exchange rate regime change, so that the RMB exchange rate can be controlled within a larger float. "As long as the RMB exchange rate can change with the market in a timely manner to fine-tune, you can eliminate from the system level, 'hot money' into a driving force."
"Only truly a managed floating RMB exchange rate, 'hot money' to a real reduction." Qu Feng-jie, "Beijing Review," stressed.
For experts, this view, China's central bank governor Zhou Xiaochuan made responses. In an interview with China, "Financial Times" interview, said, "is a reference to U.S. dollar exchange rate of RMB Center or refer to 'a basket' money to develop the policy is there room for discussion."
Zhou Xiaochuan said, never encourage "hot money" speculation point of view, it should be stressed that the RMB exchange rate stability as well. However, "In the future role of the market will become increasingly large, and gradually let the market play a decisive role when China will allow greater exchange rate volatility."
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