How did over $100 billion of hot money flow into China in the first half alone despite the nation's strict control on foreign exchange? According to statistics from the Ministry of Commerce and from Chinese customs, $120.9 billion added to China's foreign reserves came from unknown sources. In an analysis by International Financial News, money can enter China through illegal channels including massive payments or money transfers through fictitious trade claims or false contracts under the guise of normal trade and investment. Direct investment is another way for hot money to enter China's market, according to some experts. Except for industrial and commercial investment, which has few limitations for settlement of foreign currency, the Qualified Foreign Institutional Investors (QDII) system is more lenient in allowing foreign investors to change their funds into renminbi and buy securities. The influx of hot money could pressure the central bank in terms of currency supply and cause serious liquidity problems. It could also disturb the monetary policy of the government, and even endanger the nation's financial security. So far, the government has taken a series of measures to curb the illegal inflow of hot money and guide foreign investment in a reasonable way. However, some experts said it is hard for the government to eliminate hot money altogether, because the country had committed to reforming its financial system and making it more open internationally.
! o, S6 U2 }/ x 上半年超过1000亿美圆热钱涌进中国
: ]1 }9 I, S0 r R3 _8 c- c* u+ @ 既然国家对外汇进行严格管制，超过1000亿美元热钱是如何在半年时间流入中国的？根据商务部和中国海关统计，中国外汇储备中有1209亿美元来源不明确。 一名国际财经新闻分析师称，热钱涌入的非法渠道包括通过虚假贸易债权和以正常贸易或投资为幌子 的假合同支付巨额款或汇款。 据一些专家估计，直接投资也是热钱进入中国市场的一个渠道。除了工业跟商业投资外 ，外币解决 渠道还有局限性。合格的境外投资机构政策宽松一些，可以允许他们将外币兑换成人民币或有价证券。 流入的热钱会给中央银行带来通货压力和严重的流通问题。它还能干扰政府的货币政策，甚至危害国 家金融安全。 到目前为止，政府已采取一些列措施抑制不法热钱流入，引导外商以正确的方式投资。但是，一些专 家说，政府很难完全消除热钱，因为国家已致力于改革金融体系,并使它进一步向外开放 |
发表于 2012-8-16 08:12:37
