In charge of the office outside: The holding amount of the treasury bond is increased and decreased as the normal running

In charge of the office outside: The holding amount of the treasury bond is increased and decreased as the normal running
Yesterday, State Administration of Foreign Exchange Control released>,Continue detailing the thinking of foreign exchange reserve operation of our country. In charge of office's saying, the gold can not become the main channel of foreign exchange reserve investment of our country outside, and show the Chinese foreign exchange reserve, in investing and managing the course to the outside, it is the long-term investors shouldering the responsibility, do not court the control power to the investment target.
[Gold ] Buying the gold will lift the price of gold on a large scale
During the financial crisis, International Monetary Fund (IMF) Have sold the gold and raised the fund many times. Indian Central Bank bought 200 tons of IMF gold last November, and China with hugest foreign exchange reserve in the world is considered as the oldest buyer for a time. But until at present, China has not participated in.
In charge of office's saying, the gold has worlds that approves one degree of high, preserves value functions better and can be regarded as the advantage of paying promptly etc. outside, but the investment of gold is received it is sure to limit at the same time, can not become the main channel of foreign exchange reserve investment of our country.
"The Chinese foreign exchange reserve is huge, the market rumour has it what China will buy, what price rises violently. " Chinese foreign currency invest Tan YaLing, president of research institute, say, at the end of last year, after country Central Bank such as India buy the gold one after another, the international price of gold has risen violently for a time, has created for 3 trading days and risen 4.5% of the records furiously. This is too in charge of one of the factors of office worry outside.
In charge of office's claiming yesterday, the global gold annual production was only about 2400 tons, present supply-demand relationship was in a basic balance outside. If China buys in the gold on a large scale, certain to raise the international price of gold, and the price of gold of China is basically integrated with the world, Chinese ordinary people go to the department store to retail the counter and buy goods such as the gold ornament,etc., will face the problem of upward price, will damage the interests of domestic consumers finally.
In addition in charge of office think international price of gold apt to receive exchange rate, geopolitics, supply-demand relationship, speculate etc., influence also outside, often fluctuate by a wide margin, and the gold does not produce the interest income, need to bear cost such as the storage, transportation, insurance. By the look of manifestation in the past 30 years, the risk income characteristic of the gold is not very good. The gold has inflation that protects the characteristic, but many other assets have this characteristic.
As to " hold the gold stock and can disperse the capital allocation of the foreign exchange reserve again " View,it is increase by gold stock of more than 400 tons our country not to in charge of outside and think in the past few years office, the gold stock of our country has already reached 1054 tons, even double again, can only disperse the foreign exchange reserve investment of three four ten billion dollars at present, the gold stock accounts for only a few percentage points of improvement of proportion of the foreign exchange reserve.
In charge of office's showing that makes the tendency of the price of gold bear and press outside. The stock market at noon of inferior city, the money of international stock continues dropping, the price of gold breaks pass of 1190 dollars by a fall, the new low point of more than one month of falling to 1187.7 dollars, the leaf of the money of Shanghai breaks 260 yuan by a fall.

|