男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

  Home>News Center>China
       
 

Betting on renminbi's appreciation banned
(China Daily)
Updated: 2004-12-10 00:37

China's foreign exchange (forex) watchdog yesterday vowed to get tougher on speculation on the renminbi's appreciation.

"We now seriously warn all speculators engaged in illegal speculative activities that the State Administration of Foreign Exchange (SAFE)... will not ignore any activities and evidence of misdeeds that play havoc with the order of our foreign exchange market," a SAFE spokesman said in a statement.

The spokesman was responding to media reports saying that up to US$1 trillion in hot money has been used to speculate on the appreciation of China's currency.

Hot money is a term used in financial circles for funds that flow across different markets for quick speculative profits.

The spokesman said that SAFE has spotted "abnormal phenomena" such as cheating in import and export price reporting and excessive borrowing of funds.

"These behaviours, to a large extent, have characteristics of speculative arbitrage," the spokesman said.

He made special reference to speculation in the real estate market, where soaring prices are believed to be partly caused by funds illegally channeled into China.

The spokesman admitted that China's financial system has loopholes that can be used by international speculators.

But the costs of such speculative activities are high, he said.

The renminbi is not fully convertible, which makes it very difficult for speculative funds to enter and leave China.

So it's not possible for such activities to have a large impact.

However, SAFE will not tolerate any illegal speculation, the spokesman said.

The spokesman said SAFE will monitor capital flow more carefully and mend loopholes in foreign exchange administration in a timely manner.

It will also closely work with law enforcement departments in its fight against wrongdoings in the foreign exchange market, he said.



 
  Today's Top News     Top China News
 

Coal mine explosion kills 33 in north China

 

   
 

Market recognition benefits China, EU

 

   
 

Foreign trade tops US$1 trillion

 

   
 

Government aims to fatten farmers' wallets

 

   
 

Japan to export arms for missile shield

 

   
 

Al Qaeda to attempt major marine attack

 

   
  Coal mine explosion kills 33 in north China
   
  Former governor sentenced to 11 years in prison
   
  Court helps workers get overdue pay
   
  Chinese media spread global views
   
  Deal inked to quell fishing disputes
   
  Government aims to fatten farmers' wallets
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
12 foreign banks apply for RMB business
   
To revalue renminbi, or not?
   
RMB savings soars to 9 billion in HK
   
Speculative money: A hot potato for China
   
Central bank allows more RMB out of border
   
Central bank allows more RMB out of borders
   
China questions dollar slide
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 杭锦后旗| 瓦房店市| 南投市| 梧州市| 西乌珠穆沁旗| 格尔木市| 晋城| 邮箱| 徐汇区| 汾阳市| 开原市| 抚顺市| 嘉兴市| 二手房| 洪江市| 青岛市| 科尔| 西充县| 恩平市| 扶沟县| 石狮市| 阿鲁科尔沁旗| 崇州市| 屯昌县| 宣城市| 巴里| 大化| 湖南省| 巨野县| 承德县| 名山县| 和龙市| 潮安县| 汽车| 那坡县| 太谷县| 深圳市| 汾阳市| 英德市| 嘉峪关市| 池州市|