注册 登录  
 加关注
查看详情
   显示下一条  |  关闭
温馨提示!由于新浪微博认证机制调整,您的新浪微博帐号绑定已过期,请重新绑定!立即重新绑定新浪微博》  |  关闭

雷国新-美国留学资深、外籍专家

成功留学、留学成功是我们AA留学每一位同仁的使命。

 
 
 

日志

 
 
关于我

雷国新— 外籍专家 AA留学美国首席顾问 美国国际教育家协会会员 美国研究生入学专业协会会员 教育背景 蒙特利尔大学计算机学士、经济学学士 蒙特里尔高等商学院 金融硕士 工作经历 法国阿尔斯通通用电气公司 法国德格雷蒙(Degrement) 德国KOCH公司 美国通用电气公司 华尔街8年投行从事金融投资业务 AA留学美国首席顾问

中国外汇储备达3.05万亿美元,一季度热钱流入2,000亿美元,3月通胀达5.2% VS 2月4.9%  

2011-04-15 00:59:41|  分类: Finance |  标签: |举报 |字号 订阅

  下载LOFTER 我的照片书  |

China FX reserves soar past $3 trillion, add to inflation

reuters

An employee seals a stack of yuan banknotes at a branch of Industrial and Commercial Bank of China in Huaibei, Anhui province April 6, 2011. REUTERS/Stringer

On Thursday April 14, 2011, 7:15 am EDT

By Kevin Yao and Langi Chiang

BEIJING (Reuters) - China's foreign exchange reserves soared to a record of more than $3 trillion by end-March, while its money supply growth blew past forecasts, threatening to aggravate the nation's inflation woes and trigger more policy tightening.

Chinese banks extended 679.4 billion yuan ($104 billion) in new local currency loans in March, while the broad M2 measure of money supply rose 16.6 percent from a year earlier, both above market expectations.

Tapping the brakes on money and lending growth has been a crucial part of Beijing's campaign to rein in inflation, which probably hit a 32-month high of 5.4 percent in the year to March, according to local media reports.

After making progress at the start of the year in mopping up excess cash, the People's Bank of China appeared to lose some ground in March.

"The latest numbers show that it is still too early for China to ease monetary tightening. China still needs to keep tightening policy at the current pace in coming months," said Qu Hongbin, chief China economist with HSBC.

INFLATION PICKING UP

Looking at the first quarter as a whole, the central bank has had some success in controlling loan issuance, said Liu Hongke, economist with CCB International Securities in Beijing.

She noted that the 2.24 trillion yuan in new loans in the first three months of the year was about 30 percent of the government's full-year target, exactly in line with where it wanted to be at this stage.

"It shows the central bank is doing a good job," Liu said. But she added that China would need to raise banks' required reserves again very soon to absorb excess liquidity.

China's inflation accelerated to as fast as 5.4 percent in March from a year earlier, Hong Kong media said on Thursday, reinforcing the government's vow to rein in price rises.

Economists polled by Reuters had expected annual inflation in March to be 5.2 percent, up from February's 4.9 percent.

The website of Hong Kong's Phoenix TV, citing an unidentified source, said annual inflation in March was likely to be 5.3-5.4 percent, a 32-month high. Official data will be released on Friday morning.

China has raised benchmark interest rates four times since last October and has required the country's big banks to lock up a record high of 20.0 percent of their deposits as reserves.

Economists polled by Reuters last week said that China was heading for a pause in its half-year cycle of monetary tightening, forecasting that it would raise interest rates just once more this year.

FX RESERVES SURGE

A measure of the difficulties faced by China in taming inflation came in the first quarter's nearly $200 billion increase in its foreign exchange reserves, already the world's biggest, to $3.05 trillion.

The rapid reserve build-up could indicate hefty capital inflows given that China had a $1.02 billion trade deficit in the first quarter-- the first quarterly deficit since 2004 -- which could complicate the government's fight against inflation.

"It could be a sign of strong capital inflows, which implies that there will be room for more reserve requirement ratio hikes and stricter credit control measures," said Connie Tse, economist at Forecast Pte in Singapore.

Also, the dollar's broad weakening against major currencies in recent months meant that the value of China's existing reserves, which is expressed in dollars, was bound to increase.

The dollar hit a fresh 16-month low against a basket of currencies on Thursday as expectations grew that the Federal Reserve would keep monetary policy loose for some time.

China's vast forex reserves are often seen as a sign of the strength of its economy, stemming in large part from its vast trade surplus, but the rapid growth translates into money creation and additional inflationary pressures at home.

"There have been stronger expectations of yuan appreciation and faster hot money inflows in the first quarter," said Li Jie, head of China forex reserves research center at the Central Universify of Finance and Economics in Beijing.

(Additional reporting by Aileen Wang and Koh Gui Qing; Writing by Simon Rabinovitch; Editing by Kim Coghill)

  评论这张
 
阅读(189)| 评论(0)
推荐 转载

历史上的今天

评论

<#--最新日志,群博日志--> <#--推荐日志--> <#--引用记录--> <#--博主推荐--> <#--随机阅读--> <#--首页推荐--> <#--历史上的今天--> <#--被推荐日志--> <#--上一篇,下一篇--> <#-- 热度 --> <#-- 网易新闻广告 --> <#--右边模块结构--> <#--评论模块结构--> <#--引用模块结构--> <#--博主发起的投票-->
 
 
 
 
 
 
 
 
 
 
 
 
 
 

页脚

网易公司版权所有 ©1997-2018