久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

  Home>News Center>China
       
 

Banker calls to improve trade policy
By Xu Binglan (China Daily)
Updated: 2005-03-19 05:27

A top central banker called for strong measures to adjust China's foreign trade and investment policies to control the downsides of unbridled growth.

"Indiscriminate support of exports and foreign capital influx has created short-term economic problems, including excessive speculation in the property market and the economic decoupling of the fast-growing coastal areas with the rest of China," Guo Shuqing, director of the State Administration of Foreign Exchange (SAFE), said in an interview with China Daily.

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]
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] 
On Friday, Guo was named candidate chairman of the China Construction Bank Ltd Co after the bank's former chairman Zhang Enzhao resigned earlier last week.

Guo's comments come at a time when the government is vigorously pursuing a "scientific approach" to achieve sustained development and are all the more significant because it indicates the government's resolve in addressing the fundamental issues being discussed among top economic policy makers.

Economists have long been calling for a shift in emphasis to facilitate the transformation of China from a low-cost manufacturing base to a world industrial power.

"We should gradually reduce the preferential treatment to exports and seriously review our foreign investment policy," Guo said.

Excessively favourable policies towards exports and foreign investments made sense in the years immediately after the country adopted its "opening-up" policy in 1979, he said.

But over time, such policies have fostered the erroneous belief that has led to the unconditional support for foreign investment and exports to achieve a consistent trade surplus.

"This mentality should be corrected," said Guo, an economist who used to be in the central government's bodies for economic restructuring.

He said exports should not be given a superior position in the country's economic development agenda than imports.

"And trade surplus is not necessarily a good thing all the time," he said.

China's exports contributed much to the coastal area's prosperity.

However, after so many years, exports with relatively higher added-value, especially those with Chinese-owned intellectual property rights, account for a persistently low proportion of total exports, he said.

"This kind of export growth is not sustainable," he said.

Meanwhile, a relatively conservative approach to imports has the effect of discouraging domestic manufacturers from upgrading their production facilities with imported equipment and technology, Guo said.

Policies towards foreign investments have shared some of the same shortcomings with that of trade. As a result, a host of explicit and implicit advantages have been introduced overtime for foreign-invested enterprises.

The foreign-related segment of the economy, which constitute key parts for the economy in coastal areas, has gradually drifted away from the rest of domestic economy. These foreign-funded enterprises have more transactions within itself and with foreign economies than with domestic firms.

Many foreign-funded enterprises are actually a link in the industrial chain that also include the United States, Japan, and other East Asian economies.

"More than half of China's exports and overwhelming majority of high-tech manufacturing and trade are generated by foreign companies," Guo noted.

This contributed to the regional imbalances between coastal areas and the inlands, he said.

Unchecked increases in exports and foreign investment are also partly responsible for China's trade surplus and colossal foreign exchange reserves.

Apart from their well-known merits safeguarding the country from financial crisis being the most well known huge reserves can cause problems. "For one, it reduces the independence of the country's monetary policy," said Guo, who also serves as a deputy-governor of the People's Bank of China, the central bank.

During the past few years, the central bank has bought the huge foreign currency holdings of commercial banks, which is the result of the trade surplus and investment inflow. To buy in the foreign currency, the central bank has to release huge amounts of renminbi.

This conflicts with the central bank's agenda of controlling the increase of money supply.

The country's trade surplus and huge reserves actually reflect imbalance structure of domestic economy, which need a holistic cure.

"China needs a strategy for more of a balanced development," Guo said.

He said the country should reduce energy-consuming exports and exports of resources China is short of. It should also control exports of generic manufacturing goods. At the same time, the country should urge developed countries to relax restrictions on their technology exports to China and improve quality of China's imports, he said.

As to investment, policies for domestic and foreign enterprises should be unified. Restrictions should be imposed on foreign investments in industries that use low-level technology but generate high pollution; on those that produce products oversupplied in both domestic and international markets; and on investments that are easy to lead to speculative activities and property bubbles, he said.

According to Guo, the latest sign of unwanted foreign investments is seen in the real estate and financial markets.

He said SAFE officials have spotted foreign funds that entered China disguised as money for trade or direct investment purposes but ended up being used to buy renminbi-based financial assets and property.

"We found the phenomenon of one single (overseas) person buying up to 100 houses in coastal cities," he said.

"This is apparently speculative activity," he said.

The speculators were betting on an appreciating renminbi. Their massive purchase of houses have contributed to the surging housing prices in coastal areas.

(China Daily 03/19/2005 page1)



 
  Today's Top News     Top China News
 

Shanxi coal mine blast kills 17, traps 52

 

   
 

Banker calls to improve trade policy

 

   
 

Thousands in Taipei protest shooting

 

   
 

Japan rejects comfort women claims

 

   
 

HIV/AIDS proposals announced for 2005

 

   
 

Wen talks cooperation with Russia army chief

 

   
  Japan rejects comfort women claims
   
  Wen talks cooperation with Russia army chief
   
  Banker calls to improve trade policy
   
  HIV/AIDS proposals announced for 2005
   
  Railway chief steams ahead with reforms
   
  US resolution on China's law 'firmly opposed'
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
China considers easing grip on capital accounts
   
China to loosen control of forex purchases
   
Banks tighten grip on property loans
   
China Construction Bank chief quits
   
State banks urged to reform with gov't input
   
Listings of two big State banks imminent
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    天天操天天干天天玩| www.99在线| 中文字幕网av| 成人在线免费观看视频网站| 大肉大捧一进一出好爽动态图| 91香蕉视频网址| 日韩无套无码精品| 欧美国产视频一区| 中文字幕线观看| 国产二区视频在线播放| 黄瓜视频免费观看在线观看www | 亚洲欧美国产日韩综合| 可以看毛片的网址| 亚洲一级片av| 国产精品乱码久久久久| 免费看毛片的网址| 久久久九九九热| 91激情视频在线| 欧美精品自拍视频| 欧美a级黄色大片| 182午夜在线观看| 国产精品少妇在线视频| 久久久久免费看黄a片app| 91九色国产ts另类人妖| 午夜啪啪小视频| 自拍偷拍 国产| 少妇性饥渴无码a区免费| a级黄色片免费| 无码人妻精品一区二区三区99v| 男人的天堂最新网址| 国产情侣av自拍| 欧美 日韩精品| 69堂免费视频| 国产乱子伦农村叉叉叉| 国产又粗又长又爽视频| 亚洲美女自拍偷拍| 亚洲女人在线观看| 亚洲视频在线不卡| 在线播放 亚洲| 日韩欧美理论片| www,av在线| 亚洲精品在线网址| 国产又爽又黄ai换脸| 国产高潮呻吟久久久| 亚洲制服中文字幕| 伊人国产精品视频| 成年人网站av| 中文字幕综合在线观看| 国产一区一区三区| 免费观看国产视频在线| 日韩中文在线字幕| 国产成人亚洲综合无码| 国产一线二线三线女| 精品少妇在线视频| www一区二区www免费| 日本精品一区二区三区四区| 蜜臀av午夜一区二区三区| 不卡av免费在线| www.超碰97.com| 精品久久久99| 午夜啪啪福利视频| 国产欧美久久久久| 日韩欧美亚洲天堂| 黑人粗进入欧美aaaaa| 伊人网在线综合| 精品少妇人妻av一区二区| 一本大道东京热无码aⅴ| a在线视频观看| 亚洲免费av一区二区三区| 亚洲日本黄色片| 奇米777四色影视在线看| 黄页免费在线观看视频| 日本熟妇人妻中出| 97超碰人人看| 免费网站在线观看视频| 六月丁香婷婷在线| 亚洲天堂国产视频| 狠狠干视频网站| 国内自拍在线观看| 三区视频在线观看| 国产av熟女一区二区三区| 国模无码视频一区二区三区| 最新中文字幕免费视频| 懂色av一区二区三区四区五区| 欧美大黑帍在线播放| 精品99在线视频| 亚洲男人天堂2021| jizzjizz国产精品喷水| 亚洲美女性囗交| 天堂8在线天堂资源bt| 看欧美ab黄色大片视频免费| 日韩 欧美 自拍| 欧美性久久久久| 午夜影院免费观看视频| 日本韩国欧美在线观看| 一级在线免费视频| 91xxx视频| 免费黄色特级片| 三级在线免费观看| 久久精品一区二| 美女在线免费视频| 麻豆av免费在线| 超级碰在线观看| 中文字幕 91| 成人短视频在线观看免费| 无码人妻精品一区二区三区66| 天堂av在线中文| 制服丝袜综合网| 69sex久久精品国产麻豆| 午夜久久久精品| 欧美日韩二三区| 国产成人三级视频| 少妇黄色一级片| 蜜臀av无码一区二区三区| 羞羞的视频在线| 国内外成人免费激情视频| 强开小嫩苞一区二区三区网站| 91热这里只有精品| 国产白丝袜美女久久久久| 亚洲热在线视频| 久久久久久蜜桃一区二区| 无码播放一区二区三区| 欧美一区二区三区综合| 色一情一区二区三区| 丰满人妻中伦妇伦精品app| 日韩在线视频在线| 日韩精品aaa| 亚洲老女人av| 熟妇人妻va精品中文字幕| 欧美亚洲黄色片| 国产日产欧美一区二区| 福利片一区二区三区| 88av.com| 欧美韩国日本在线| 国产v片免费观看| 青青草视频在线视频| 精品91一区二区三区| 91 在线视频观看| 男人插女人下面免费视频| 久草青青在线观看| 精品无码一区二区三区爱欲| 麻豆一区二区三区在线观看| 精品国产鲁一鲁一区二区三区| xxx国产在线观看| 日韩免费高清在线| 三级4级全黄60分钟| 国产高清精品在线观看| 尤物av无码色av无码| 成年人午夜视频在线观看| 97中文字幕在线| 欧美高清中文字幕| 97超碰在线人人| 欧妇女乱妇女乱视频| www插插插无码免费视频网站| 一本大道东京热无码aⅴ| 美国av在线播放| 国产91视频一区| 欧美视频在线第一页| 亚洲爆乳无码精品aaa片蜜桃| 亚洲精品少妇一区二区| 日韩精品一区二区在线视频 | 久久久久免费精品| 成人小视频在线看| 黄色国产小视频| 91极品视频在线观看| 日本三级黄色网址| 夜夜爽久久精品91| 中国一级黄色录像| 亚洲精品天堂成人片av在线播放| 波多野结衣av一区二区全免费观看| 国产a级黄色大片| www.av毛片| 欧美一区二区三区爽大粗免费| 超碰网在线观看| 一区二区三区 欧美| 日韩av加勒比| 精品国产一区二区三区无码| 国产3p露脸普通话对白| 国产福利视频在线播放| 男人添女人下面免费视频| 91精品国产三级| 久久综合久久网| 精品视频一区二区在线| 欧美日韩大尺度| 色婷婷综合在线观看| 国产黄色激情视频| 国产精品-区区久久久狼| 免费看涩涩视频| 麻豆传媒网站在线观看| 日韩欧美国产综合在线| 国产免费视频传媒| 国产精品嫩草影院8vv8| 欧洲精品视频在线| 免费看又黄又无码的网站| 无码少妇一区二区三区芒果| 欧美国产日韩在线视频| 给我免费播放片在线观看| 亚洲精品视频导航| 欧美交换配乱吟粗大25p| www.国产区|