Two-quarter external reserve increase 22 times times official disagree with hot money reflux

30 billion dollars is "hot money"?　　Affected by the international financial crisis, China's foreign exchange reserves last October, the first negative growth in nearly 5 years, this decline has been extended to this February. Monthly data from the central bank revealed that the balance of foreign exchange reserves in January-June this year was about $1.9135 trillion trillion, $1.9121 trillion, $1.9537 trillion, $2.0089 trillion, $2.0895 trillion and 2.1316 trillion dollars. At the end of April this year, the balance of reserves exceeded the 2 trillion dollar mark for the first time.　　In terms of one-month increments, the reserves were reduced by about $30 billion trillion in January and negative in February, but starting in March, rising at a rate of tens of billions of dollars a month, growth has returned to the level before the international financial crisis, with a record increase of 80.6 billion dollars in May. From March to date, China's stock market and real estate markets to warm, and quickly to hot, this and foreign exchange reserves soared time coincided. In an interview with the Beijing Morning News reporter, senior economist Stephen Green of Standard Chartered Bank (China) said international hot money could be returning to China spurred by signs of China's hyper-easing monetary policy and asset bubbles. In general, the trade surplus, foreign direct investment (FDI) and overseas investment returns are the main components of the increase in foreign exchange reserves.　　In addition to these normal factors, according to Green's comprehensive calculations, China's foreign-exchange reserves have huge "unexplained parts": A 56 billion dollar "unexplained" foreign exchange outflow in the first quarter, and a 30 billion dollar "unexplained" foreign exchange inflow in the second quarter. The Commerce ministry says the surge in foreign exchange reserves, which is hard to break, has already had an impact on the money supply, fuelling ample liquidity in the financial system. When foreign exchange funds enter China to change into renminbi, banks need to put the corresponding renminbi to the market, which constitutes foreign exchange accounts.　　According to data released yesterday by the central bank, new foreign exchange accounts for the financial institutions in May amounted to 242.6 billion yuan, the first time this year to break 200 billion yuan, the average of the first 4 months is only about 140 billion yuan per month. At present, the government regulatory authorities do not agree with the "hot money reflux" reference. Ministry of Commerce spokesman Yao Jian said yesterday that the increase or decrease in foreign exchange reserves is a concrete manifestation of economic activity, the first half of this year, China's trade surplus of 90 billion U.S. dollars, manufacturing also attracted many foreign capital inflow, so the growth of foreign exchange reserves and reached a record high does not represent the influx of hot money overseas At the end of last month, Tao Tao, deputy director of the State administration of foreign exchange's balance of payments, said publicly that net inflows of foreign currency were still declining compared with a year earlier, with only a rise in the month, not because of an increase in foreign exchange inflows, but because of a reduction in outflows, which makes it difficult