Report on Chinas Foreign Exchange Reserves
Since 2001,Chinas foreign exchange reserves have entered a stage of substantial growth. By the end of March 2006, Chinas foreign exchange reserves have reached 875.07 billion U.S. dollars, top 1 in the world, accounting for more than 18％ of the worlds total reserves at the same period. The huge foreign exchange reserves have become one of the major factors affecting Chinas economic development.The increasing foreign exchange reserves have contributed a lot in enhancing Chinas comprehensive national strength and promoting rapid economic growth,However, the article consider that the sustained rapidly growing surplus, an imbalance in the balance of payments, has brought new problems and challenges, which mainly include losing the independence of monetary, policy, bringing the macroeconomic impact because the excess liquidity, aggravating the imbalance in economic structure, missing the financial and opportunity cost, causing the RMB appreciation.To fred a solution to decrease the pressure of rapidly increasing foreign exchange reserves, the article suggest that not only impel the reforms of foreign exchange administration system further but also improve the foreign trade conditions reasonably. At the same time, reserve assets management deserves attention as the supplement.
Foreign exchange reserves cost-benefit analysis
Xijun Zhao Shujia Zhang
School of Finance Renmin university of China,Beijing,PR.China,100872
国际会议
2006 International Conference on Management Science and Engineering(2006管理科学与工程国际学术研讨会)
武汉
英文
571-578
2006-11-08（万方平台首次上网日期，不代表论文的发表时间）