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RMB FDI For Implementation In September

2011/8/25 10:51:00 43

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New spokesman for Ministry of Commerce

Shen Dan Yang

On the 24 day at the regular press conference of the Ministry of Commerce, the trade surplus in July this year was somewhat fortuitous. The trade surplus is expected to decline further this year.

At the same time, we will make further efforts to make use of foreign investment and strive to implement cross-border RMB direct investment in September.

FDI

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Improving import promotion policies

Shen Danyang said that the trade surplus in July hit a 30 month high, for two reasons. First, China's exports to emerging markets and developing countries maintained rapid growth, and prices rose rapidly; two, the international market in July.

Bulk commodities

The price has a callback, and the price of imports is corresponding.

Increase

Fall back.

Under the background of a rise or fall, the trade surplus in July was rather large.

From the absolute scale of trade surplus, from 2005 to July this year, the absolute size of China's trade surplus has been decreasing year by year.

It dropped to $about 180000000000 last year, and this year it will further decline on this basis.

From the relative scale of the trade surplus, the trade surplus in the first half of last year accounted for 2.2% of the total GDP in the country, down 0.7 percentage points compared to the same period in the first half of this year, only 1.44%.

It is generally believed that

Balance of trade surplus

The proportion of GDP is about 3%, which is more reasonable.

Shen Danyang said that the next step would be to actively expand imports of advanced technology, key components and scarce resources, and constantly improve import promotion policies and trade facilitation measures to further promote trade balance.

Slower growth of foreign direct investment

Shen Danyang said that from the perspective of foreign capital utilization, the actual use of foreign capital amounted to US $69 billion 187 million in 1-7 months, an increase of 18.57% over the same period last year.

From the perspective of foreign investment, the overall growth rate of outward direct investment slowed down.

In the first 7 months, the total foreign direct investment of non-financial sector reached US $27 billion 630 million, an increase of 3.3% over the same period last year.

Shen Danyang said that the Ministry of Commerce's notice on cross-border RMB direct investment (solicit draft) is intended to promote cross-border RMB trade and investment and make further use of foreign investment.

China will strive to implement cross-border RMB direct investment in September, and specific measures should be applied not only to Hong Kong, Macao and Taiwan, but also to foreign investors.

In answering a reporter's question at a regular press conference, Shen Danyang said that after the implementation of cross-border RMB direct investment measures, there may be two aspects: on the one hand, from a trade point of view, a part of foreign exchange will stay in Hongkong or elsewhere. If the RMB goes out and sinks in, foreign exchange reserves will increase. On the other hand, from the investment point of view, the renminbi will come in through foreign investment, which will reduce the increase of foreign exchange reserves.

Therefore, after the implementation of this new measure, the impact on the entire foreign exchange reserve will not be particularly large, and will not significantly increase or decrease foreign exchange reserves.

In addition, Shen Danyang said that China's investment in Libya is not a direct foreign direct investment. China only contracted some projects in Libya.

In July, when WTO ruled that China had restricted the export of raw materials, Shen Danyang said that China would appeal against the ruling of WTO and said that China's rare earth export policy was not in violation of WTO rules.