Foreign Exchange Bureau: The Direct Distribution Of Foreign Exchange Reserves To The Public Will Cause Inflation.

The State Administration of foreign exchange is responding to foreign exchange today. reserve When it comes to hot issues, the obstacle to "relocating the people to the people" is not in policy but in the willingness of foreign exchange holders.

The foreign exchange bureau said that in recent years, China's balance of payments continued to "double surplus". In addition, after the international financial crisis, the international liquidity was large, and the net inflow of foreign exchange was relatively large, resulting in the accumulation of China's foreign exchange reserves. At present, China actively supports residents' remittance in exchange for remittance, the current account has been fully convertible, and residents are used for trade in goods. service The demand for purchase and payment of foreign exchange and other current account items has been fully met. Under the capital account, there are no policy barriers for enterprises to invest in foreign direct investment, and enterprises and individuals to invest in overseas and foreign-funded markets through qualified foreign institutional investors (QDII). However, due to the expectation of RMB appreciation and the difference between domestic and foreign exchange, there is a strong desire to settle foreign exchange in enterprises and individuals, and generally reluctant to hold or retain foreign exchange.

Aiming at " foreign exchange If the reserve is directly inappropriate to the public, whether it is possible to divestiture some foreign exchange reserves and establish a sovereign pension fund to enrich our social security system, "the foreign exchange bureau said, whether the proposal to directly distribute foreign exchange reserves to the common people or to directly apply foreign exchange reserves to social welfare such as pension, medical care, education and so on, all involve the issue of whether foreign exchange reserves can be allocated freely. Unlike foreign exchange reserves, foreign exchange reserves are formed by the central bank's purchase of foreign exchange in the foreign exchange market, which corresponds to the local currency liabilities on the balance sheet of the central bank. The free use of foreign exchange reserves, which is equivalent to the central bank's random printing of banknotes, will inevitably lead to inflation and other serious consequences. Under the guidance of the principles of "compliance with the law, paid use, efficiency and effective supervision", foreign exchange reserves are actively innovating and applying channels to continue to serve the country's economic construction and improve people's livelihood.