2011年4月19日星期二

Foreign direct investment in China amounted to $ 12.5 billion

April 18, 2011, 9: 56 pm EDT by Bloomberg News

(Updates with comment from the the Economist fourth paragraph).

April 19 (Bloomberg) - foreign direct investment added $ 12.5 billion to China's economy in March, swelling of capital inflows that may encourage the Central Bank to keep ratcheting of the requirements of the reserve of the lenders.Investment increased by 33% from a year earlier, the Ministry of Commerce said in a statement in Beijing today. That compares to a gain of 29 percent in the first quarter as a whole.Chinese officials are intended to prevent excess cash in the financial system of fueling inflation which has accelerated the fastest rate in nearly three years in March. Liquidity remains "excessive", Governor Zhou Xiaochuan said in Beijing yesterday evening, a day after the Central Bank announced the fourth increase lenders reserve ratios this year. "China is still not done tightening,"Said Qu Hongbin, Chief Economist of HSBC Holdings Plc in Hong Kong China, before the release of today." "Inflation is likely to accelerate even before the beginning of a time to recharge," he said, predicting increases in the rate of reserve half percentage point from months and reference interest rate quarter-point boost.The latest increase in reserve ratios takes effect April 21, pushing the requirement of a percentage of 20.5 record for the largest lenders. Inflation accelerated to a 5.4% annual pace in March.China should allow its currency strengthen the dollar to keep a lid on consumer prices, the Chinese Central Bank former Advisor Yu Yongding said this month. $ 3 trillion ReservesThe important economy experiencing the most rapid growth is attracting money from investors betting on the strength of its expansion and earnings prospects in the Yuan. China's exchange reserves jumped to a world record 3 billion dollars in March, a level that exceeds the needs of the nation, Zhou said after a speech at Tsinghua University in Beijing yesterday evening.Foreign companies including Wal-Mart Stores Inc. are increasing their presence in China. If the Wal-Mart company can buy more land to build shops in the Asian nation, which it predicts is the largest market of groceries in the world by 2014, said on March 31.

Dingmin - Zhang, Sung Chinmei. With the help of Jay Wang. Editors: Paul Panckhurst, Stephanie Phang.

To contact the reporter on this story: Chinmei sung in Taipei to csung4@bloomberg.net.

To contact the editor responsible for this story: Paul Panckhurst in Hong Kong to the ppanckhurst@bloomberg.net


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