The influx of hot money to the foreign reserve breakthrough 2.1 trillion dollars

After a brief pause at the beginning of the year, the pace of China's foreign exchange reserve growth accelerated again in the two quarter. Data from the central bank released July 15 showed that at the end of June 2009, the National foreign exchange reserves broke through the 2 trillion dollar mark, reached 2.1316 trillion U.S. dollars, an increase of 17.84%.　　At present, Japan's foreign exchange reserves balance of 1.02 trillion U.S. dollars, China's national foreign exchange reserves are the world's second largest foreign exchange reserves, Japan's twice times. International hot money focus on China market analysts pointed out that the rapid growth of China's foreign exchange reserves is closely related to the steady recovery of China's economy, and should be wary of the many worries behind the rapid growth of foreign exchange reserves. "The rapid growth of foreign exchange reserves in the two quarter, on the one hand and the trade surplus is still growing, on the other hand, also shows that international investors optimistic about China's economic trend, which hides the figure of international hot money." Zhangjian, senior economist at the Asian Development Bank, said in an interview. "The capital market rose markedly in the two quarter and attracted a lot of hot money, which is an important reason for the rapid growth of foreign reserves in the two quarter."　　"Zhangjian said. The accumulation of high risk foreign exchange reserves has been regarded by experts as a double-edged sword. On the one hand, in the context of the global economic recession, high foreign exchange reserves can provide security for national financial stability and crisis relief.　　But at a time when global liquidity is rampant, the excessive growth of reserves is undoubtedly fraught with risks, causing concern among experts. Changbaoliang, an economist at the National Information Center, said that the biggest hazard to the influx of hot money would be the emergence of asset bubbles, which are not unrelated to the current stock and housing price increases. "In addition to blowing a big asset bubble, leading to inflation, the inflow of hot money will make the renminbi face upward pressure, and the appreciation of the renminbi will have a negative impact on exports."　　"Changbaoliang said.　　Foreign exchange expert Chen Bingcai that the further formation of high reserves increases the management difficulty of the foreign Exchange Management department, because regardless of the composition of the reserves, its value is in the risk of constant change.　　How to resolve the worry of reserve Kao Jen How to realize the external preservation has become a big challenge that Chinese authorities must face. Encouraging enterprises to go out is becoming a way for the authorities to defuse the risk of foreign exchange reserves. "The Government encourages enterprises to go out, to a certain extent, to reduce domestic foreign exchange reserves, to adjust the structure of foreign exchange reserves, to resist financial risks will play an active role."　　"Zhang Bin, deputy director of the international financial Room of the World Academy of Social Sciences, China. However, some experts pointed out that this is only a "symptom" rather than a "radical" strategy. Yu Yongding, director of the Institute of Social Sciences, said that the key to solve the problem is to take measures to realize the economic growth mode transformation and realize the balanced development of economy. (General Xinhua News Agency)