Foreign Media: don't be weak data covered more than expected Chinese financial reform | | finance reform _ the eyes news
Original title: foreign media: China's financial reform than expected not to be blinded by weak data eye
Compile Lu Di
Reference news, June 11, foreign media say China's latest economic data is unlikely to be intimidated by the fed, let it dare not raise interest rates this year, including possible action in July.
According to the United States, Forbes magazine reported on June 1, senior international economist at the PNC Financial Services Group of Pittsburgh bier·yadangsi said: "China's economic growth weakened and the devaluation of the renminbi is still on United States prospects of downside risk, but if the United States job market continues to consolidate, China risks may not be cause for concern to prevent the Federal Reserve raising interest rates. As long as China and its currency without another round of global financial turmoil, United States data that will have a greater impact on the Fed's decision. ”
Reported in August last year, the Chinese Government suddenly changed the daily foreign exchange market opening central parity pricing, leading to a devaluation of about 4%. Almost everyone in this market speculation that the Central Bank saw investors do not see economic problems: economic weakness need to devalue in order to save the export slump. China later said that doing all this is to follow the guidance of the International Monetary Fund, make the Yuan a more freely floating currencies, so that the International Monetary Fund organization included in the SDR basket. Yuan will be held in October this year in the SDR basket. Since August 10, 2015 Bank change peg policy, Yuan against the dollar has depreciated by about 6%. A month later, the Fed said that due to the global economic problems, especially the uncertainty surrounding China's growth trajectory, it will pause.
June 1 the latest economic data showed China's purchasing managers ' index (PMI) 50.1 per cent. The past three years, caixin, China manufacturing purchasing managers ' index has been up and down. April is 49.4 in May fell to 49.2. Despite the devaluation of the Renminbi, May both new orders and new export orders decline.
Reports May business expectations index also decreased, but still there were 55.9, sharply improved since February. 2016 five months before the expected average 56.2 per cent, higher than the average in late 2015 51.1. Non-manufacturing purchasing managers ' index from April to 53.5 per cent in May to 53.1, is the second-lowest month so far this year.
Don't bet on suspected Central Bank
United States investor likes to say "I bet doubt the Federal Reserve" is not wise. Bet doubts the rules of it?
Reported that the people's Bank of China on the speed and scope of reform are beyond most people's expectations. In February this year, China opened the inter-bank bond market to institutional investors around the world, in order to improve liquidity and reduce the pressure on State-owned banks.
Emerging market experts see this as a sign of want to integrate into the global economy, China's capital market. This also includes the Renminbi later this year to join the International Monetary Fund's special drawing rights basket will become the main global reserve currency and the people's Bank of China are more flexible than expected.
Reports that China's real economy is slowing, but financial markets are liberalized, which creates new opportunities. Invest in China will have to choose, don't get caught in the purchasing managers ' index and gross domestic product data.
For example, restrictions on capital inflows and outflows decreased. Remittances can be either in RMB or in foreign exchange. Entry of foreign investors in buying cash bonds and interest rate swaps, forward bond market, securities lending and forward rate agreements and other Chinese derivatives markets without restriction. Quotas in these areas has been cancelled.
With $ 50 billion of funds under management in London Jane Dehn, head of research at Ashmore group, said: "this progress for China's Government bond market this year paved the way for key fixed income benchmarks. ”
China's interbank bond market of more than $ 7 trillion, but foreign capital subject to quota restrictions, mainly bond index was not included. Dehn said, these restrictions are now either cut, or may soon disappear, created a Central Bank and a small group of hedge funds like the opportunity.
Reported data on China's side, the first emerging-market currencies as the world's reserve currency. China is only through its quantitative easing programme to print money as the global reserve currency countries. With core economies bonds, bonds actually paid is income in China.
Source: reference news network
Responsible editor: Wang Hao
Article keywords:Financial reform
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外媒：中国金融改革超预期 别被疲弱数据蒙住眼|金融|改革_新闻资讯
原标题：外媒：中国金融改革超预期 别被疲弱数据蒙住了眼
编译 卢荻
参考消息网6月11日报道 外媒称，中国最新的经济数据不太可能吓倒美联储，让它不敢在今年加息，包括在7月份可能采取的行动。
据美国《福布斯》杂志6月1日报道，匹兹堡PNC金融服务集团资深国际经济学家比尔·亚当斯说：“中国经济增长走弱和人民币贬值仍对美国前景造成下跌风险，但如果美国就业市场继续巩固，中国带来的风险可能并不会令人担心到阻止美联储加息。只要中国及其汇率不引发另一轮全球金融动荡，美国数据这次就会对美联储的决策产生更大影响。”
报道称，去年8月，中国政府突然改变每日外汇市场开盘汇率中间价的定价方式，导致人民币贬值约4%。此举引发市场上几乎每个人都猜测央行看到了投资者没有看到的经济问题：经济走弱需要货币贬值来挽救出口萧条。中国晚些时候表示，这么做的原因是遵循国际货币基金组织的引导，让人民币成为更加自由浮动的货币，以便国际货币资金组织将其纳入特别提款权货币篮子。人民币将于今年10月加入特别提款权货币篮子。自2015年8月10日央行改变钉住美元政策以来，人民币对美元已经贬值了约6%。一个月后，美联储表示，由于全球经济出现问题，尤其是围绕中国增长轨迹的不确定性，它将暂停加息。
6月1日最新的经济数据显示，中国采购经理人指数（PMI）为50.1。过去三年，财新中国通用制造业采购经理人指数一直起起落落。4月份为49.4，5月份跌至49.2。尽管人民币贬值，5月份的新订单和新出口订单都出现减少。
报道称，5月份的生产经营活动预期指数也有所降低，但仍有55.9，自2月份以来大幅改善。2016年前五个月生产预期平均指数为56.2，高于2015年下半年51.1的平均指数。非制造业采购经理人指数从4月份的53.5降至5月份的53.1，是今年迄今为止第二低的月份。
不要打赌怀疑中国央行
美国投资者喜欢说“打赌怀疑美联储”是不明智的。那么打赌怀疑中国人民银行呢？
报道称，中国央行在改革速度和力度上都超出了大多数人的预期。今年2月，中国向全球机构投资者开放了银行间债券市场，以便提高流动性，减轻国有银行的压力。
新兴市场专家将此举看作是中国想要把经济融入全球资本市场的迹象。这还包括今年晚些时候人民币在加入国际货币基金组织特别提款权货币篮子后将成为主要的全球储备货币以及中国人民银行比预计的更加灵活。
报道称，中国实体经济正在放慢步伐，但金融市场正在放开，这就创造了新的机会。在中国投资的人将不得不进行选择，不要陷入采购经理人指数和国内生产总值数据中。
例如，现在对资本流入流出的限制减少。汇款既可以用人民币也可以用外汇。外国投资者在购买现金债券和进入利率互换、远期债券市场、债券借贷和远期利率协议等中国衍生市场时也没有限制。这些领域的配额已经取消。
管理着500亿美元资金的英国伦敦安石集团研究主管简·德恩说：“这一进展为中国政府债券市场今年进入关键固定收入基准指数铺平了道路。”
中国银行间债券市场规模超过7万亿美元，但外国资本受到配额限制，主要债券指数没有纳入其中。德恩说，这些限制现在要么取消，要么可能很快消失，创造出央行和小众对冲基金喜爱的机会。
报道称，先把中国的数据放在一边，这是首个新兴市场货币成为全球储备货币。中国也是唯一没有通过量化宽松计划印钞的全球储备货币大国。与核心经济体债券不同，中国债券实际支付正收益。
来源：参考消息网
责任编辑：王浩成
文章关键词： 金融 改革
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