w88 casino News Network (Reporter Sun Lei)Recently, Professor Zhang Haiyun, director of w88 casino’s Financial Market Research Center and w88 casino of Finance, was a guest on the CCTV English Channel, speaking on "Biz Asia"(Asia Finance) and "China 24”（China24hour) column comments on financial reform and the overseas development of China's banking industry, and makes an objective analysis on the reduction of reserve requirements.
4month10The "Asia Finance" program on the evening of the same day reported on some new developments in financial reforms such as the Wenzhou pilot and the restructuring of state-owned enterprises, and invited Professor Zhang Haiyun to discuss the main role and major challenges of financial reform.
Zhang Haiyun believes that the financial sector serves the real economy by promoting the flow of funds from funds surplus departments to fund demand departments. The inability to connect the source of funds and the use of funds has led to many economic problems we see today, such as bubbles in real estate and private lending and financing difficulties for small and medium-sized enterprises. This disconnect stems from a host of structural issues ranging from policy barriers and unequal competition to price constraints and information asymmetries. Financial reform needs to overcome this disconnect to optimize resource allocation, and the biggest challenge facing this effort is to sort out the entangled structural problems. The Wenzhou experiment, the reorganization of state-owned enterprises and other reforms have made bold attempts in this regard.
In terms of the overseas development of China’s banking industry,4month10The "Asia Finance" program on the evening of the same day reported that the Federal Reserve approved the expansion plans of three Chinese state-owned banks in the United States, including ICBC's acquisition of the U.S. branch of Bank of East Asia, and invited Professor Zhang Haiyun to comment on this progress.
Zhang Haiyun believes that the acquisition of the U.S. branch of Bank of East Asia by the Industrial and Commercial Bank of China is the first of its kind for a local Chinese bank to acquire a controlling stake in a commercial bank in the United States, and is therefore of epoch-making significance. The Federal Reserve's approval of the business expansion plans of three Chinese banks in the United States will help the three Chinese banking giants implement their globalization strategies. It is also good news for other Chinese banks planning to establish or expand business in the U.S. market. The U.S. market is the world's leading market, and expanding business in this market will help enhance the global competitiveness of Chinese banks.
2012Year4month13日夜20:00the "China 24”（China24hour) program reported the news that the central bank has lowered the deposit reserve ratio again, and invited Professor Zhang Haiyun to analyze the background of this decision and its impact on the Chinese economy.
Regarding the background of the central bank’s further reduction of the deposit reserve ratio, Zhang Haiyun believes that this reduction in the deposit reserve ratio is the second time this year and the third time in the monetary policy easing cycle so far. The background is that a number of economic indicators were significantly lower than expected and pointed to a slowdown in China's economy. Industrial output, foreign w88, bank credit, fixed asset investment, retail sales and inflation indicators all convey signals of weakening economic development momentum. From a liquidity perspective, the implementation of loose monetary policy should help alleviate this problem, given the possible lack of liquidity arising from factors such as capital outflows, money supply gaps, and lack of maturing central bank bills. The slowdown in consumer price index growth and the decline in the producer price index also indicate that loosening money to support economic development will not lead to runaway inflation. This reduction in the deposit reserve ratio will release more than400billion yuan of liquidity, and shows that the central bank is closely monitoring the economic situation and is ready to provide support when needed.
Regarding the impact of this decision, Zhang Haiyun believes that this reduction in the deposit reserve ratio has released a policy signal while improving liquidity. There is no doubt that this will have a stabilizing effect in the short term. But in the medium to long term, we must recognize that we will face a series of economic challenges that cannot be solved by easy monetary policy alone. If weak credit growth is caused by a lack of demand rather than a tight supply, then stimulating the real economy with additional liquidity may be inefficient. As external demand remains weak, in order to stimulate domestic demand, we need to effectively coordinate monetary and fiscal policies. Unlike many Western countries, we have the advantage of running a fiscal surplus, which gives us an active position in fiscal stimulus. However, we must beware of the risks of inflation and asset bubbles. More importantly, we must continue to work on structural reforms to ensure the sustainable development of our economy.
Attachment: Related video news report links:
2012Year5month10日夜21：00：“Biz Asia”(Asia Finance) Program:
2012Year5month13日夜20:00：“China 24”（China24hours) Program:
http://english.cntv.cn/program/china24/20120514/105395.shtml
