日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Top Biz News

'Hot money' blowing bubbles

By Xin Zhiming (China Daily)
Updated: 2009-12-30 08:05
Large Medium Small

'Hot money' blowing bubbles

Surging flows may lead to stock market volatility, say economists

The rising inflow of speculative capital, or "hot money", into China could lead to "asset bubbles", said Fan Gang, member of the central bank's monetary policy committee.

The latest foreign exchange reserves figures released by the People's Bank of China reveal that inflows increased by about $37.2 billion - the second highest monthly rise this year - to $2.78 trillion by the end of November.

The $37.2 billion gap, indicating increased inflows, is about $16 billion more than the cumulative figures for the country's trade surplus and foreign direct investment (FDI) in November.

Economists have warned that the additional $16 billion could well be "hot money" inflows intended to gain from the rising value of the yuan or realty.

"But such calculations are rough," said Sun Lijian, an economist with Fudan University in Shanghai. He said the calculations omit factors like the inflow of investment returns by Chinese companies or the fact that part of the FDI could be actually "hot money". 'Hot money' blowing bubbles

The real figure could be much larger than $16 billion in November, he said. Some of the FDI inflows are not used for real economy investments, but rather in the stock or real estate markets, he said.

"I think there must be some speculative capital that has not been accounted for," said Sun.

The calculation of "hot money" has always been controversial in China. Last year, a Chinese Academy of Social Sciences scholar said such money could have amounted to 1.75 trillion yuan, triggering hot debates among Chinese economists and officials as to how much "hot money" has actually entered the country.

But with domestic asset prices rising sharply, economists concur that while there is "hot money", it is difficult to guesstimate the actual quantity.

The nation's main stock market index, for example, has risen by more than 75 percent compared with November 2008. Prices of many apartments in Beijing have also nearly doubled within a year.

According to a recent study conducted by the Guangdong provincial academy of social sciences, "hot money" has been flowing into the country since June.

Related readings:
'Hot money' blowing bubbles Bubble in housing market will burst
'Hot money' blowing bubbles Pin the housing bubble
'Hot money' blowing bubbles Asset bubble, not inflation, greatest danger
'Hot money' blowing bubbles Property market growth not bubble

Li Youhuan, a member of the research team, said the inflows have gathered pace since then.

Many economists have warned in recent weeks that the US Federal Reserve's low-interest policy is encouraging global liquidity to move towards emerging markets.

Russia said it plans to adjust regulations to limit the inflow of hot money into the country while encouraging long-term investments, according to Prime Minister Vladimir Putin.

主站蜘蛛池模板: 91精品国产乱码久久久张津瑜 | 人人爱人人搞 | 激情国产一区 | 黄色亚洲网站 | 搞黄视频在线观看 | 懂色av懂色av粉嫩av分享吧 | 欧美色国| 日日草视频| 欧美人人 | 99久久久久成人国产免费 | 99免费在线视频 | 影音先锋国产在线 | 久久不射视频 | 亚洲免费视频观看 | 超碰在线免费 | 日韩av手机在线播放 | 色婷婷色综合 | 日韩在线观看一区二区三区 | 成人动漫中文字幕 | 久久综合久色欧美综合狠狠 | 国产精品一区在线免费观看 | 五月开心激情网 | 国产 日韩 欧美 在线 | 日韩在线一 | 日韩区欧美区 | 国产精品av久久久久久无 | 欧美xxxooo| 神马久久网 | 午夜精品久久久 | 美女视频国产 | 欧美黄色片网站 | 国产 欧美 在线 | 国产精品乱码一区二三区小蝌蚪 | 亚洲天堂精品在线观看 | 国产一二区在线观看 | 国产特级毛片 | 国产日韩欧美综合 | 这里有精品视频 | av黄色网址 | 欧美激情爱爱 | 天天操夜夜欢 |