Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

PBOC: Debt levels not worrisome

By Chen Jia | China Daily | Updated: 2017-10-20 06:54
Share
Share - WeChat

Central bank governor Zhou Xiaochuan (left) and Guo Shuqing, chairman of the China Banking Regulatory Commission, at the 19th National Congress of the Communist Party of China, Oct 19, 2017. [Photo/China Daily By Edmond Tang]

Central bank says liabilities are small for one of world's major economies

China's debt ratio is controllable and a fast deterioration is unlikely, as measures have been taken to prevent potential risks, despite a relatively high level of corporate debt, the central bank governor said at the 19th National Congress of the Communist Party of China on Thursday in Beijing.

The risks of a sudden collapse of asset prices can be avoided while the tightening regulation on local government financing vehicles will continue to take effect, said Zhou Xiaochuan, governor of the People's Bank of China.

Zhou said that household debt is rising fast although the total debt amount is relatively small compared with the world's other major economies.

The governor urged to push forward the foreign exchange reform which allows the market's supply and demand relationship to determine the yuan's value, along with a deepened opening up of the financial sector and welcoming competition from foreign financial institutions.

A possible reform measure could be to expand the yuan's trading band, which is at 2 percent up or down around the daily reference rate, said some experts. However, Zhou said it is not a key issue at the moment as the current exchange rate band has very limited impact on the market's supply and demand.

The central bank released data on Thursday that it purchased a net 850 million yuan ($128 million) of foreign exchange last month, the first monthly net purchase in about two years, compared with net sales of 821 million yuan in August, indicating an ease of capital outflows and a strengthening currency.

Pan Gongsheng, head of the State Administration of Foreign Exchange, said the priority for future foreign exchange management work would be to support the development of real economy, and facilitate the two-way opening up of the financial sector. Measures will focus on further freeing the yuan's usage in cross-border investment and trade, and gradually achieve an exchangeable capital account.

"To supervise the capital flows and prevent potential risks under the Macro Prudence Assessment framework will also be one of the key tasks," said Pan.

To battle against capital outflows and to curb the yuan's depreciation since last year, the country's foreign exchange regulator has taken measures to tighten capital controls while maintaining a stable currency value.

A statement on the administration's website said on Thursday that the interest rate hikes by the US Federal Reserve and its plan to reduce the purchase of Treasury bonds and securities will not bring fluctuations in cross-border capital flows, and would help maintain a close eye on the stability of the country's foreign exchange market.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 一本一本久久a久久精品综合 | 伊人久久久久久久久香港| 天天视频天天爽| 日本熟妇人妻xxxxx人hd| 啊啊啊好大好爽视频| littlesulaa小苏拉| 欧美性大战久久久久久| 国产大屁股视频免费区| 三级视频在线播放线观看| 污网站在线免费观看| 国产真实乱了在线播放| 久久精品噜噜噜成人av| 精品国产精品久久一区免费式| 国产高清中文手机在线观看| 五月天中文在线| 美国一级大黄一片免费网站| 国产色产综合色产在线视频 | 久久亚洲精品无码VA大香大香| 精品三级久久久久电影网1| 国产精品爽爽va在线观看无码| 久久精品欧美日韩精品| 污网站免费观看污网站| 动漫美女被羞羞动漫小舞| 888米奇在线视频四色| 日本乱码视频a| 亚洲视频在线观看免费| 国产h视频在线| 尹人久久大香找蕉综合影院| 久久精品国产2020| 欧美性猛交xxxx黑人| 人人澡人人澡人人看添av| 美女被羞羞吸乳动漫视频| 国产在线视频一区二区三区| 色老板在线视频一区二区| 成人做受120秒试看动态图| 亚洲成av人片不卡无码| 老少另类性欧美杂交| 国模杨依大胆张腿视频流露| 久久亚洲精品无码观看不卡| 欧美一级欧美一级高清| 亚洲第一黄网站|