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| Author: | Wu, Jian |
| Title: | An analysis of the scale of China's exchange reserves and its defining (original in Chinese) |
| Journal: | Economic Research Journal (c)
1998 : 6, p.20-29 |
| Index terms: | RESERVE ACCOUNT INTERNATIONAL RESERVES FOREIGN EXCHANGE CHINA SAVINGS ECONOMIC POLICY |
| Language: | chn |
| Abstract: | Taking economic efficiency into account, the aggregate amount of our exchange reserves during the period of 1996 to 1998 clearly surpasses the reasonable level. Considering the existence of various uncertain factors for the near term , it is necessary to maintain the current scale. However, if we pursue the high-speed growth of exchange reserves blindly, negative influences are doomed to be imposed on the macro-economic operation. Government should give consideration to the following items: adopting economic expansion policies in 1998 and accelerating the construction of infrastructures; stabilizing currency and increasing import by a proper degree so as to reduce the trade surplus; optimizing the foreign trade structure and gradually increasing the ratio of foreign debts; striving to adjust the scale of exchange reserves to a reasonable level. |
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