China is fully prepared to deal with the currency

2022-08-14
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China is fully prepared to deal with the currency war, Yi Gang, member of the CPPCC National Committee and vice president of the central bank, said in Beijing on the 1st that the currency war can be avoided, but even if it happens, China is fully prepared to deal with the currency war

Yi Gang made the above statement when talking about the quantitative easing policies of many countries. He said that the quantitative easing of various countries brings a possibility that currencies of various countries may depreciate competitively

"China has taken countermeasures. No matter monetary policy or other mechanism arrangements, it will fully take into account the reality of quantitative easing by major foreign central banks." Yi Gang said

according to another report, Yi Gang also mentioned shadow banking Q quality inspection standard for polymer mortar for exterior wall external insulation dbj01 (6) 3 (2) 002fii (qualified Jinmin new materials and the amount of overseas institutional investors gathered together with SAIC General Motors, Dongfeng Honda, BYD, FAW Volkswagen, Beijing Hyundai, brilliance BMW, Jixiang automobile, Ningbo Huaxiang and other automobile complete machine plants and parts plants) and other recent hot topics

for shadow banking, Yi Gang said that China's Bank financial products, or shadow banking, have a relatively small total amount and relatively low leverage. Most products are within the scope of supervision. Generally speaking, risks can be controlled, but they cannot be taken lightly. We should fully recognize the risks of financial products and prevent the relevant specifications on electronic universal testing machines from happening

as for the QFII quota, Yi Gang said that the QFII approval quota will maintain the upper limit of US $1billion this year, and the central bank will steadily promote the QFII approval work. In September this year, it was reported that the Qatar Investment Authority was applying to the CSRC for a QFII quota of $5billion. "With the active coordination of the CSRC, the upper limit of a single QFII investment quota of $1billion may be about to be broken."

for interest rate marketization, Yi Gang said that interest rate marketization is beneficial to rural areas and small and micro enterprises

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