129779318765625000_35Boao Forum for Asia Annual Conference 2012 days to April 1, was held in Boao, Hainan, the meeting to "Asia in a changing world: towards a healthy and sustainable development" as the theme. Dongfangcaifuwang on the forum for the whole live. People's Bank of China Governor Zhou xiaochuan on April 3 in a "soft landing: policy options in emerging economies" said at the Forum, ChinaAnd a number of other economies, policy objective is gradually to inflation rates down, which means that a soft landing, the tools used in this round of soft landing in China is bringing together quantitative measures and price measures. Following is a text record: Moderator: Zhou, has been praised your decision of the dealing with economic issues. For China, if supervision enterprisesBusiness cycles and inflation, the Central Bank has also taken a series of measures, whether you think the marketization of interest rates that you work more easily in the future? Zhou xiaochuan: soft landing from today's topic, for emerging economies, including China, soft landing means in 2010 and 2011, we came to the overheated economy, the inflation rateTo. Inflation rate is due on the part of the economic stimulus in order to overcome the global financial crisis, due to a lot of liquidity, makes a lot of capital flows to emerging economies. But we also say, the level of inflation, to some extent, many emerging economies are a little higher than that of their inflation targets. IFor China and other economies, policy objective is gradually to inflation rates down, which means that a soft landing. But technically speaking there are a lot of difficulties, there are times when we do not know that strong policy measures are taken, is still too weak, for soft landing for good. In this area we do not know what policy, It was said that it would achieve a hard landing, some people said it might be impossible to achieve a soft landing. But this is also related to the tools and policies, which policy to use the tools? China, of course
tera power leveling, our policy is to use a series of quantitative and price policy, since the beginning in the last quarter of 2010, we began to raise interest rates, and is nowIncreased interest rates 5 times, each time will be 0.25%. But we also use a number of quantitative measures, as to which policy conduction mechanism of our monetary-related, we need to consider the issue, the most important thing is that we have to take into account the global situation, if too many from the global liquidity, if too much liquidity in the global economy, then we will notCareful, if you use too much of interest rate instruments, could lead to domestic capital flows. But did use several different tools of monetary policy, to make a comparison of the advantages and disadvantages, and balance. I would like to stress that in this round of tools used in the soft landing in China is bringing together quantitative measures and price measures.����Thank you! Above text as Ben finish, without the participantsHuman verification. Zhou xiaochuan-----------------------: encourages the deregulation of capital going out, or in the future in China Boao Forum for Asia Annual Conference 2012 days to April 1, was held in Boao, Hainan, the meeting to "Asia in a changing world: towards a healthy and sustainable development" as the theme. Dongfangcaifuwang for thisForum for the whole live. People's Bank of China Governor Zhou xiaochuan on April 3 in a "soft landing: policy options in emerging economies" said at the Forum, China encourages capital flight, in particular with regard to capital "going out" strategy, there are an increasing number of overseas investment, perhaps further deregulation, allowing Chinese businesses and residents of China to more easily intoOverseas investment, this is our policy of reform in one direction. Following is a text record: Zhou xiaochuan: I want to say China is encouraging capital outflows, particularly for capital "going out" strategy, enterprises and other business organizations, there are an increasing number of overseas investment, may also further deregulation, allowing Chinese businesses and residents of ChinaMore convenient for overseas investment, this is our policy of reform in one direction. But we must recognize that China is a relatively closed economies, although our trade volume is very large, and many countries have bilateral trade. Domestic enterprises, but domestic residents is still no way to overseas investment. They do not have sufficient knowledge, not about the localInvestment environment, legal system, the financial market, so it will take time.����In General, however
tera gold, we would encourage them to invest in overseas. From a stage, we might still see the imbalance between the capital and capital flight, we will also see some form of trade surplus and the surplus of the income and expenditure accounts, we will see that capital inflows of more thanThe outflow of capital, so we still have to consider the effect of monetary policy for you. For us, a way to reduce the negative effects of this imbalance is the use of monetary policy instruments. We can see that from to some extent in recent years, we also use these tools to adjust. But for the medium and long term, we try to practiceIs now better balanced to avoid imbalance.����Practices through financial market reform, and we rely on some of you mentioned the structural policies to reduce these imbalances. Above text as Ben finish, without the guests I verified. (Dongfangcaifuwang), Zhou says fed quantitative easing should take into account global economic Boao Forum for Asia Annual Conference 2012 from April 13rd, held in Boao, Hainan, the meeting to "Asia in a changing world: towards a healthy and sustainable development" as the theme. Dongfangcaifuwang on the forum for the whole live. People's Bank of China Governor Zhou xiaochuan on April 3 in a "soft landing: policies in emerging economies" Forum, said that for the United States, quantitative easing is a positive choice, butSelect policies at the same time, inevitably there are some emerging economies may face large capital inflows, needed to be considered in the policy of the Federal Reserve, not only to consider the United States domestic economy, while taking into account the global economy. Following is a text record: Moderator: Zhou, you repeatedly raised the issue of excess liquidity in the economy, you specifically pointed out that the US Federal ReserveQuantitative easing, and some European policy. Professor Edmund Phelps mentioned in these two areas of the Central Bank, they faced inflation is relatively low, demand is insufficient, you think they should be how to deal with these two issues in quantitative easing?����Do you take other measures? Zhou xiaochuan: thank you, we want to be able to betterUnderstanding of the United States and Europe's economic situation. We very much agree with a point, that is to overcome a severe financial crisis, United States need to implement policies to correct, to enter the liquidity of the market, low interest rates, while promoting economic recovery and create more employment opportunities. We recognize that quantitative easing was a positive choice, are all in monetary policyA positive choice. But on the other hand, we also expect to enter United States economic mobility, United States economy, better use of this policy, for the United States and the world economy is a good thing. However, it is difficult to control the flow of liquidity, I think inevitably there are some emerging economies may face large capital inflows. I think this is a difficult choice.The Fed needs to make a difficult decision, in their policy to consider. We would like to say is that is not a simple of the Central Bank of the Federal Reserve, it and many other banks are not the same as the Federal Reserve they are creating a dollar, and the dollar is the reserve currency of the world, has been widely used in the world economy. So the Fed is to take into account not only the United StatesState of the domestic economy, while taking into account the global economy, this is something we expect of them. For the European Central Bank, we believe that in order to cope with their sovereign debt crisis, people's Bank of China also support longer-term restructuring operations, LTRO, we believe that such actions could also be some negative effects, because no policy will only lead to good effectFruit without negative effects. Anyway
tera power leveling, I think this policy is necessary, we express support for this, and we hope that what kind of policy coordination on a global level, we work together to overcome the crisis.����At the same time to reduce as much as possible the negative impact and some unpredictable consequences. Above text as Ben finish, without the participantI verified. (Dongfangcaifuwang), Zhou: Zhou xiaochuan fed quantitative easing should take into account the global economy: China Zhou xiaochuan this soft landing using quantitative measures and price measures of Tsinghua University wudaokou honorary Zhou xiaochuan, Director of the Finance Institute: promoting financial reform, Zhou xiaochuan: opening domestic financial markets at a higher level, Zhou xiaochuan: ChinaSong Gen Zhou: Zhou xiaochuan, further advancing the interest rate marketization conditions has been fulfilled: to promote basic conditions of interest rate marketization Zhou xiaochuan, Central Bank Governor Zhou xiaochuan wrote an article suggesting that expanded exchange rate fluctuation interval: conditions of establishing deposit insurance system in 2012 the Boao Forum for Asia
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