Hundreds of millions of of local hot money poured into the mainland speculation speculation property market

Hundreds of millions of Hong Kong influx of hot money into the mainland speculation three major channels of speculation in the renminbi revaluation speculation property market-reporter Fang Jiaxi Beijing reports all kinds of signs that hoarding in Hong Kong from the US and Europe, the large scale of hot money, gambling on the renminbi appreciation, opportunistic through bank exchange, trade and investment three ways to enter　　Finally entered the property market and stock market speculation. The large increase in the size of Hong Kong's hot money 23rd, the Bank of China, Hong Kong and many other mainland financial institutions analysts in the economic reference newspaper reporter interviewed, said the past inflow to the mainland to Hong Kong, Macao savings funds or speculative funds, but now both from Europe and the United States funds, there are hot money from "It is possible that other countries in South-east Asia, with low interest rates, are in a bad position with the mainland.　　BOC Hong Kong analyst Huangminggao said. A spokesman for the Hong Kong HKMA said the 8 billion yuan exchange rate in Hong Kong this year remained at half the end of September, but was exhausted in late October. In other words, within one months of the use of 4 billion yuan exchange rate.　　According to the relevant departments, some 650 billion Hong Kong dollar hot money has been hoarding the territory to enter the mainland, and the change of funds to renminbi is more clear. Hong Kong's Fortune Securities analyst Liu Ya told reporters: "Hong Kong is a free trade port, foreign exchange is not regulated, basically a day to 100 billion dollars or tens of billions of dollars, is not able to stop." Wintenna, a professional member of the Hong Kong Securities Institute, described the world's capital in Hong Kong as free as water, flowing into the stock market, the property market and flowing back to the west.　　And these funds to enter the mainland, Hong Kong has become a transit point, the channel is the banks and foreign exchange points. The influx of hot money to the relevant financial institutions in Hong Kong told reporters that in the bank exchange and remittance two links, hot money in Hong Kong have an opportunity.　　Although the banks of Hong Kong basically strictly enforce the SAR government's requirement that each local resident can only exchange RMB 20,000 yuan and remit 80,000 yuan to the mainland every day, it can still use the way of opening an account in each bank and moving the ants to the mainland through the banks. It is understood that the hoarding of hot money in Hong Kong open access to the mainland is another way, through trade channels and foreign investment channels. According to Hong Kong regulations, trade and investment funds are not limited by the amount of exchange and remittance. According to a report from the State administration of foreign exchange, the recent special operations of the safe show that hot money irregularities have been concentrated in the traditional areas of trade and investment in a variety of ways. The case shows that some processing trade enterprises to make use of the price, that is, through the high report to pay, the virtual increase in the amount of foreign exchange and transfer pricing methods to achieve more foreign exchange, multiple settlement purposes. A lot of hot money under foreign investment is related to "false foreign capital".　　Some foreign-funded enterprises, although there are real projects, but there is no real "foreign capital", and some simply "shell enterprises", the need for foreign exchange usually through intermediaries between the intermediary and the underground transactions between the capital settlement for the return of underground banks or domestic and overseas investors. "Hot money into the important eyeThe standard is the stock market, the property market, in order to obtain the asset price rise income, this is in line with hot money speculative arbitrage nature.　　"Bai, deputy director of international market Research at the Ministry of International Trade and Economic cooperation, told the economic reference newspaper. From the special action of the Foreign Management Bureau, hot money violate the real estate market, often through trade, foreign capital, banks, individuals and many other channels, both corporate behavior and personal behavior. Some group company internal affiliated Enterprise arbitrage operation. If a company in Hong Kong directly or indirectly holding a number of real estate enterprises, by the domestic subsidiaries in renminbi funds to advance the land auction margin, the Hong Kong parent company through the establishment of real estate project companies to repay foreign exchange capital settlement after the payment of advances. The above-mentioned enterprises are suspected of violating capital payment settlement system, illegal arbitrage, unauthorized external lending and unauthorized operation of financial business, and so on, the amount of violation is large and the capital chain is complex.　　There are also individual banks to overseas individuals to provide long-term housing mortgage foreign exchange loans, and mortgage settlement after the purchase of domestic property. For hot money into the stock market, the foreign authorities told reporters, recently found that some foreign-funded enterprises fictitious use of capital settlement after entering the stock market case. In such cases, foreign-funded enterprises in the name of the payment of loans to the bank to declare capital settlement, the proceeds of the settlement of the renminbi to the domestic affiliated enterprises, affiliated companies to the current funds and other names will be the original road.　　When the foreign-funded enterprise withdraws the RMB funds, it is no longer subject to the declaration of use restrictions, thus flowing into the A-share market. Mainland Hong Kong to prevent hot money "the mainland and Hong Kong need to have information on the fight against hot money and establish a mechanism for monitoring and restricting external hot money." Said officials at the International Monetary Fund's representative office in Beijing.　　Last week, the International Monetary Fund released a new study saying the US dollar peg to the US dollar would make Hong Kong more difficult to prevent inflation and a real estate bubble in the context of quantitative easing. "It is not difficult to understand that Hong Kong, as an international financial centre, is clearly powerless to reject hot money, so that it can only be curbed by curbing speculation and preventing a worsening of the asset bubble risk."　　"said Liu Yuanchun, vice president of the Economics Institute of Renmin University. On the issue of hot money inflows, China's Ministry of Commerce spokesman Yao Jian said the government would tighten regulation of liquidity to prevent hot money inflows and pay special attention to hot money flowing into sensitive areas such as real estate in the context of QE.