Central Bank Governor Zhou Xiaochuan of the People's website issued the portion "on the change in macro-and micro-to farther investigate the pro-cyclical", the portion said, "to consider some of the fiscal procedure and pro-cyclical elements, probable remedies evaluates as well as monetary and fiscal agencies in the sombre market critical purpose of how to play a certified role. " Zhou Xiaochuan, said the writer, China's macro-control guidelines are commencing to withstand yield, there are some primary pointers of warmer signals of quick descent in monetary expansion has been checked the minimal situation. Zhou Xiaochuan made the establishment of capital forced undo cycle method and energetically realize the "New Basel Capital Accord."
This is Zhou Xiaochuan, following the March 23, the 24th consecutive sites in the central bank has published a signed article of the third. Zhou Xiaochuan made before the international monetary system and on the question of the concept of savings, it is recommended to create super-sovereign reserve currency around the world attention. Obama President of the United States immediately expressed that "the current strong dollar." Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner also rejected the U.S. proposal to give up.
However, Zhou Xiaochuan, the request has been many of deducing nations and some global organizations. March 24, the International Monetary Fund replied positively to the recommendations of Zhou Xiaochuan, head of the school Kahn said in Paris on the 25th, the Chinese super-sovereign global retain currency of the request is reasonable. Zhou Xiaochuan, the request in addition carried by the Russian and other "BRIC countries" to support, at the matching time, the European Union to insist the United States put frontwards to smash the aged procedure of global finance.
On the eve of the G20 summit to China and the United States representing both edges for an worldwide economic argument, is heating scheme up.
Binding method for the establishment of undo cycle capital
Zhou Xiaochuan, said the scribe, the entire, China's macro-control principles are starting to accept crop, there are some premier signs of warmer indications of fast down turn in financial development has been checked the rudimentary situation. These achievements in China's government answered swiftly and conclusively to apply a proactive fiscal principle and loose monetary principle appropriately founded on the progress.
Zhou Xiaochuan believes that the current Ministry of Finance and the Central Bank of the West special mandate to stabilize the market, often through a long political process, which is often the best course of action to miss the opportunity. Economists usually focus on the macro level, the pro-cyclical, however, at the micro level, the current market structure contains a number of noteworthy features of the pro-cyclical, in response to the current crisis, reform the financial system should be addressed. In the existing market structure, it is necessary to arrange more in the micro-level mechanism of the reverse cycle (that is, a negative feedback loop), in order to ensure a more stable financial system.
In answer to these shortcomings, Zhou Xiaochuan sharp out the living capital adequacy ratio to overwhelm the vulnerability of the capital in specific, the cyclical environment of the buffer, the agencies to blame for economic steadiness could play a expert role; and in fiscal principle, the development of the use of reverse-cycle multiplier, Shun-cycle inhibitory component is the new way.
Standard Chartered Bank head economist and head of worldwide examine that LEE Lai Si, macroeconomic imbalances and fiscal procedure in the aggregated effect of systemic nonachievement commanded to the happening of this critical purpose, since the cycle of guideline and risk organisation, principally under circumstances of firm loan The deficiency of liquidity organisation is the principle reason. To be out of critical purpose and need to initiate a more balanced world economic procedure, that is, the Western economic procedures transfer from high use to advance savings, Asia and the Middle East economic procedures, high savings, lessening the savings to advance paying out is in addition indispensable.
G20 summit frequency of the central bank will soon be issued
Focused its vigilance on the world will convene in early April of the G20 summit in London, wanting to find directs the world finances, "Moses out of Egypt." Lai Sze Lee try to number out, "Despite the present aim of vigilance round the world is how to explain the G20 financial and economic urgent position, but in truth, numerous nations will desire more long-term."
Chinese Academy of Social Sciences Institute of World Economics and Politics, deputy chief director of the global fiscal examine, said Zhang Ming, Zhou Xiaochuan made a small number days in the past to reorganise the global monetary procedure for the average and long-term image, short time span more arduous to achieve. Once these thoughts into certainty, in the long run is locked-in to deteriorate the dollar's position, it is not unexpected that Obama opposed.
But Zhang Ming trusts that the summit becomes noticeable to have been included in too more high prospects of the parties that this be realised at one time utilitarian mentality, and eventually may become "non-weight bearing", to duplicate the faults G20 summit in Washington, it is arduous to to arrive at any of the critical purpose in the liberate or reconstruction of the global monetary procedure of the substantive program.
Not long ago at a press conference on the closing date, the central bank website at 20:35 on the 26th once again signed by the central bank issued the Institute of Finance "of the reform of the international financial supervision system, few understand." In this paper, that the parties to the reform despite the current financial system made a lot of suggestions and form some consensus, but there is still "a number of issues yet to be fully aware of the parties or to reach a consensus", so to remind the parties to pay attention to the existence of the following five questions: the first step to improve financial supervision is the supervision of self-criticism; the introduction of macro-management parameters of the cycle, reverse cycle to strengthen mechanisms; regulatory agencies need to enhance the quality, or lack of supervision of the market experience and feeling; to strengthen the use of rating and rating agencies supervision; concerned about the issue of corporate governance.
This is Zhou Xiaochuan, following the March 23, the 24th consecutive sites in the central bank has published a signed article of the third. Zhou Xiaochuan made before the international monetary system and on the question of the concept of savings, it is recommended to create super-sovereign reserve currency around the world attention. Obama President of the United States immediately expressed that "the current strong dollar." Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner also rejected the U.S. proposal to give up.
However, Zhou Xiaochuan, the request has been many of deducing nations and some global organizations. March 24, the International Monetary Fund replied positively to the recommendations of Zhou Xiaochuan, head of the school Kahn said in Paris on the 25th, the Chinese super-sovereign global retain currency of the request is reasonable. Zhou Xiaochuan, the request in addition carried by the Russian and other "BRIC countries" to support, at the matching time, the European Union to insist the United States put frontwards to smash the aged procedure of global finance.
On the eve of the G20 summit to China and the United States representing both edges for an worldwide economic argument, is heating scheme up.
Binding method for the establishment of undo cycle capital
Zhou Xiaochuan, said the scribe, the entire, China's macro-control principles are starting to accept crop, there are some premier signs of warmer indications of fast down turn in financial development has been checked the rudimentary situation. These achievements in China's government answered swiftly and conclusively to apply a proactive fiscal principle and loose monetary principle appropriately founded on the progress.
Zhou Xiaochuan believes that the current Ministry of Finance and the Central Bank of the West special mandate to stabilize the market, often through a long political process, which is often the best course of action to miss the opportunity. Economists usually focus on the macro level, the pro-cyclical, however, at the micro level, the current market structure contains a number of noteworthy features of the pro-cyclical, in response to the current crisis, reform the financial system should be addressed. In the existing market structure, it is necessary to arrange more in the micro-level mechanism of the reverse cycle (that is, a negative feedback loop), in order to ensure a more stable financial system.
In answer to these shortcomings, Zhou Xiaochuan sharp out the living capital adequacy ratio to overwhelm the vulnerability of the capital in specific, the cyclical environment of the buffer, the agencies to blame for economic steadiness could play a expert role; and in fiscal principle, the development of the use of reverse-cycle multiplier, Shun-cycle inhibitory component is the new way.
Standard Chartered Bank head economist and head of worldwide examine that LEE Lai Si, macroeconomic imbalances and fiscal procedure in the aggregated effect of systemic nonachievement commanded to the happening of this critical purpose, since the cycle of guideline and risk organisation, principally under circumstances of firm loan The deficiency of liquidity organisation is the principle reason. To be out of critical purpose and need to initiate a more balanced world economic procedure, that is, the Western economic procedures transfer from high use to advance savings, Asia and the Middle East economic procedures, high savings, lessening the savings to advance paying out is in addition indispensable.
G20 summit frequency of the central bank will soon be issued
Focused its vigilance on the world will convene in early April of the G20 summit in London, wanting to find directs the world finances, "Moses out of Egypt." Lai Sze Lee try to number out, "Despite the present aim of vigilance round the world is how to explain the G20 financial and economic urgent position, but in truth, numerous nations will desire more long-term."
Chinese Academy of Social Sciences Institute of World Economics and Politics, deputy chief director of the global fiscal examine, said Zhang Ming, Zhou Xiaochuan made a small number days in the past to reorganise the global monetary procedure for the average and long-term image, short time span more arduous to achieve. Once these thoughts into certainty, in the long run is locked-in to deteriorate the dollar's position, it is not unexpected that Obama opposed.
But Zhang Ming trusts that the summit becomes noticeable to have been included in too more high prospects of the parties that this be realised at one time utilitarian mentality, and eventually may become "non-weight bearing", to duplicate the faults G20 summit in Washington, it is arduous to to arrive at any of the critical purpose in the liberate or reconstruction of the global monetary procedure of the substantive program.
Not long ago at a press conference on the closing date, the central bank website at 20:35 on the 26th once again signed by the central bank issued the Institute of Finance "of the reform of the international financial supervision system, few understand." In this paper, that the parties to the reform despite the current financial system made a lot of suggestions and form some consensus, but there is still "a number of issues yet to be fully aware of the parties or to reach a consensus", so to remind the parties to pay attention to the existence of the following five questions: the first step to improve financial supervision is the supervision of self-criticism; the introduction of macro-management parameters of the cycle, reverse cycle to strengthen mechanisms; regulatory agencies need to enhance the quality, or lack of supervision of the market experience and feeling; to strengthen the use of rating and rating agencies supervision; concerned about the issue of corporate governance.
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