中文FrançaisDeutsch日本語Русский языкEspañolعربيEsperanto한국어BIG5
CHINA DEVELOPMENT GATEWAY
SiteMap Feedback
Travel Living in China Archaeology Film Learning Chinese Chinatown Suppliers
Home China International Business Government Education Environment Culture Women Books & Magazines Sports Health Entertainment
Tools: Save | Print | " target="_blank" class="style1">E-mail | Most Read
Central Bank Raises Deposit Reserve Ratio
Adjust font size:  ZoomIn ZoomOut

The People's Bank of China, China's central bank, raised banks' deposit reserve ratio Tuesday by 0.5 percentage points to rein in excessive bank lending.

The hike brings the reserves that most banks are required to deposit with the central bank to 8.5 percent. The central bank raised the bank deposit reserve ratio by the same margin of 0.5 percentage points in June.

The central bank expects the two hikes - one percentage point in total - will take 300 billion yuan out of circulation.

"The move aims to tighten up banks' liquidity management, curb the excessive growth of money and credit and maintain the development of the economy," said the central bank in a statement posted on its website.

The move came as a surprise to many economists, who have been calling on the central bank to raise interest rates to reduce the money available for investment and prevent possible overheating of the economy.

China's economy surged 10.9 percent in the first half of 2006, the fastest growth in a decade and higher than the targeted annual growth rate of eight percent set by the government for this year.

The economy continues to roar ahead despite a slew of measures imposed by the government to ease the blistering growth of investment.

China's commercial banks lent 2.34 trillion yuan in the first seven months of the year, consuming 94 percent of their annual loan quota, according to statistics from the People's Bank of China.

New loans, which had dropped in June, picked up speed again in July despite government efforts to curb the money supply and tighten credit. In July alone banks lent 171.8 billion yuan.

Economists attributed the excessive growth to loose liquidity, which contributes to an unbalanced economic structure and could cause hiccups in the economy.

Ha Jiming, chief economist of China International Capital Corporation Limited (CICC), expected the central bank to further raise the deposit reserve ratio by the end of this year to cool down the economy.

Some economists, however, suggest the central bank raise the benchmark interest rate, which is a more stringent means of reining in excessive loans. Tang Min, chief economist with the China Mission of the Asian Development Bank (ADB), said he expects China to raise its interest rates soon.

"The overheating of the economy has become more and more obvious in the first six months of the year. The country needs to raise interest rates to solve the problem," he said.

The government has vowed to slow down the surge in fixed assets investment in sectors troubled by overcapacity and to control excessive money and credit supply but it seems to be very cautious about raising interest rates.

The last time the central bank adjusted interest rates was on April 27, when it raised the benchmark one-year loan interest rate from 5.58 percent to 5.85 percent, but did not change the rate for deposits.

Analysts said a higher interest rate on deposits may help curb excessive investment, but would also discourage consumption and investment in stock markets, which the government has been working hard to encourage so as to sustain economic development over the long term.

(Xinhua News Agency August 15, 2006)

Tools: Save | Print | " target="_blank" class="style1">E-mail | Most Read

Related Stories
Money Supply Growth Still Climbing
PBC to Curb Loan Growth
Loans Surge Despite Curbing Efforts
New Central Bank Curbs on Lending
Central Bank Asked to Improve Service Quality
Central Bank to Keep Currency Stable
 
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright ? China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP證 040089號(hào)

主站蜘蛛池模板: 伊人成影院九九| 国产成人不卡亚洲精品91| 一本一本久久a久久综合精品蜜桃| 日韩大片免费观看视频播放| 亚洲国产精品无码久久青草 | 国产女同无遮挡互慰高潮视频| 3751色视频| 国产青草视频在线观看| a网站在线观看| 小宝贝浪货摸给我看| 中文字幕在线免费| 日本亚洲欧美在线视观看| 九九免费精品视频在这里| 欧美乱大交xxxxxbbb| 亚洲成av人片在线观看无码 | 97人妻天天爽夜夜爽二区| 天天在线欧美精品免费看| 一本色道无码道在线观看| 成年人在线免费观看| 久久99热精品| 无遮挡无删动漫肉在线观看| 国产免费一区二区三区不卡| 午夜免费1000部| 国产精品久久久久电影| 一本大道久久东京热无码AV| 把腿扒开做爽爽视频在线看| 久久久999久久久精品| 日本漂亮继坶中文字幕| 亚洲最大成人网色香蕉| 波多野结衣紧身裙女教师| 伊人久久精品线影院| 白嫩奶水的乳奴| 免费无码AV一区二区三区| 香蕉视频911| 国产婷婷色一区二区三区深爱网 | 被公侵犯肉体中文字幕电影| 国产在线一区视频| 麻豆人人妻人人妻人人片AV| 国产成人欧美一区二区三区 | 欧美日韩视频免费播放| 亚洲熟妇av一区二区三区下载|