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| Tekijä: | Li, Jin Liu, Yuchao |
| Otsikko: | On the influence of effect of international payment on China's money supply (original in Chinese) |
| Lehti: | Nankai Economic Studies (c)
1997 : 5, p.45-50 |
| Asiasana: | MONEY SUPPLY BALANCE OF PAYMENTS CHINA |
| Kieli: | chn |
| Tiivistelmä: | Since 1994, both current account and capital account have incurred continuously surplus in China. As a result, foreign exchange reserve and funds outstanding for foreign exchange have increased by a wide margin. The functional coefficients of funds outstanding for foreign exchange to money supply were 43.73% in 1994, 42.55% in 1995 and 62.42% in 1996 respectively. Only by starting from the external balance, can we eradicate the negative influence resulting from changes in international payment on money supply. To do so, we must 1. perfect the formation mechanism of exchange rate in order to realize the rational exchange rate based on demand and supply of foreign exchange, 2. deepen the reform of foreign exchange system, 3. strengthen the construction of a unified and complete monetary policy system in China. |
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