2D Panel Fence
- 1. Because of the simple, beautiful and
practical grid structure of double wire mesh fence, it has the function
of beautifying the environment. In addition, combined with the
characteristics of double wire mesh fence which is easy for plants to
climb, it is used for the beautification effect of parks and living
communities.
- 2. The price of double wire mesh fence net is medium and low, and it
is often used for the protection of industrial land, sports field,
playground, school and nursery.
Central Bank Governor Zhou Xiaochuan: China will increase its share of investment in the euro
Release date:[2012/2/16] Totally read [592] times
In the past two days, China’s top leaders have repeatedly expressed their willingness to work with Europe to deal with the European debt crisis. Premier Wen Jiabao of the State Council said at the 14th China-EU Leaders' Meeting on the 14th that China is ready to increase its participation in solving the European debt problem. On the 15th, Zhou Xiaochuan, governor of the People's Bank of China, said that the People's Bank of China has always maintained its investment in the euro, and as the foreign exchange reserves continue to increase, it is still increasing its share of investment in the euro.
However, the problems in the euro zone can not be solved by outside rescue, and its structural adjustment is more important, and this adjustment cannot be achieved overnight.
The issue of the euro is not an "island"
In the "Euro Exhibition" held in Beijing on the 15th, the voice of "common response" and "eager to actively cooperate with China" became the main tone of European leaders. In order to dispel China's doubts about European investment, the EU has basically reached the inside. The consensus financial contract was mentioned several times to portray the prospects for Euro security and stability in the Eurozone.
On the same day, the President of the European Council, Van Rompuy, said in a speech at the University of International Business and Economics that the fundamentals of Europe are still very strong - Europe's inflation rate is very low, public debt and deficit levels are lower than the United States and Japan, and the euro zone's overall balance of payments. He emphasized that both China and the EU are willing to live in a multi-polar world, so they should work together to meet the challenges. China and the EU do not want a single currency (US dollar) to dominate the world. Cooperation between China and Europe is greater than competition. At the end of the speech, he quoted a poem from a famous British writer in the 17th century. "No one is an island, we are all part of the continent."
On the same occasion, the European Commission President Barroso (microblogging) used another Chinese proverb, "Brothers within the Four Seas," to emphasize that China and the EU need to face the crisis together. Barroso said that the trend in Europe is to further consolidate rather than split. At present, the euro zone is at a critical moment, and all parties are trying to resolve the crisis to ensure stability. In order to enhance the "European Stability Theory" more convincing, Barroso detailed some recent reforms introduced in Europe, including: from June this year, the EU's new permanent stable crisis resolution mechanism - Europe stability The mechanism (ESM) will begin to operate; a few days ago, EU member states agreed to sign a “financial contract†to implement a more stringent budget; each member country is undergoing budget adjustments and structural reforms; the European Central Bank is taking active steps to inject liquidity into the banking system. Sex, and so on. "The euro is currently facing a test, but I believe we will pass the high score." He says.
Among them, the "financial contract" is obviously very important. The core content of the "financial contract" is the signing of a legally binding economic and monetary union treaty among member governments to strengthen fiscal discipline. The annual fiscal deficit of the contracted member states must not exceed 3% of gross domestic product (GDP), and public debt is much lower than 60% of GDP. If the budget of the member states is seriously exceeded, the EU will impose heavy penalties on them, and the amount of punishment will be up to 0.1% of the GDP of the offenders, and will be supervised by the European Court of Justice.
The Chinese side of the market increases the proportion of investment in the euro
"We believe that the signing of the relevant fiscal agreement will mark an important step for the euro zone countries to move closer to the financial and economic alliance, which will help improve the sustainability of the euro zone countries' finances and improve the sovereign debt situation of the sovereign debt crisis, and The prospects for economic growth have been greatly enhanced.†Zhou Xiaochuan, governor of the People’s Bank of China, commented on Europe’s recent important initiatives when he spoke on the same occasion on the 15th.
European leaders showed enough confidence in the prospects of the euro, and China also expressed a positive attitude toward the European Union's response to the debt problem. As Premier Wen Jiabao of the State Council stated at the 14th China-EU Summit on the 14th, China has already prepared for increased participation in the settlement of the European debt issue and is willing to communicate and cooperate closely with the EU. On the issue of European debt, Wen Jiabao said that China's willingness to support the EU's response to the debt problem is sincere and firm, and has confidence in the euro and the European economy.
Zhou Xiaochuan pointed out in his speech that China is an important economic and trade partner of the EU. At present, China is the EU's second largest trading partner and the second largest export market, and continues to maintain its status as the EU's largest source of importing countries. The fundamental interests of the country, we hope to develop broader, deeper and closer economic and trade ties with the EU countries. The Chinese side has also taken a series of effective measures to promote the development of private investment, including the development of two-way private investment.
Zhou Xiaochuan said that China’s attitude towards the euro zone is consistent. China's investment in Europe has several levels. The first level is the central bank's investment in the euro in foreign exchange reserves. The second level is the investment of the sovereign wealth fund CIC (China Investment Co., Ltd.); the third level is the whole The Chinese financial community, including many commercial banks, China Development Bank, Export-Import Bank, investment funds, and the Chinese business community, are investing in Europe.
"As far as China's central bank is concerned, we closely observed the process of European economic integration in the 1990s. We invested in the German mark and the French franc before the birth of the euro in 1999. At the time of the birth of the euro, these investments were also Smoothly converted into the euro. In the early days of the euro, the euro has had a small decline against the dollar, but the People's Bank of China has always had full confidence in the prospects and role of the euro." Zhou Xiaochuan said.
At present, roughly 60% to 70% of China's foreign exchange reserves are invested in US dollar assets, 20% to 25% are invested in Euro assets, and the rest are invested in currency assets such as British pounds and Japanese yen. Zhou Xiaochuan said that the People's Bank of China has always maintained its investment in the euro, and as the foreign exchange reserves continue to increase, it is still increasing its share of investment in the euro. However, Zhou Xiaochuan also stressed that he hopes that the Eurozone and the EU will continue to innovate in terms of mechanisms and provide more attractive investment products that will help China and Europe to cooperate.
Zhou Xiaochuan stressed that "some specific (salvation of Europe) measures have to wait for the opportunity. The 17 countries in the euro zone need to spend some time in forming policies, and the formation of these policies will provide better results for the BRICS and other G20 countries. Platform and opportunities to participate."
The Western market has responded positively to the economic issues raised by European leaders in China. The major European stock indexes opened on the 15th were all higher, and the Frankfurt stock market DAX30 index was more than 1% higher. Market participants generally regarded the “China investment factor†as a positive. Reuters quoted market participants as saying that "China's position supports the trend of the euro, which is good news for those who like risky investment products." Yamamoto Yaman, chief foreign exchange strategist at Barclays Capital, said that China's support for Europe has weakened the dollar. Many risk currencies are stronger.
Prerequisite investment in Euro assets needs to be safe
However, the problems in the euro zone can not be solved by outside rescue, and its structural adjustment is more important. In his speech that day, Van Rompuy emphasized that "a balance needs to be struck between European institutions and political institutions of all countries. There is also a balance between personal interests and the interests of the entire alliance as a whole. Only balanced management can work better. â€
Some analysts said that due to the political game between the euro-zone countries and the complexity of the political game between the leaders and the people in the euro zone, the structural adjustment of the euro zone is not a day's work.
Some experts believe that after all, the highest priority before each expenditure is security. Whether buying bonds or direct investment, we must consider the current macro environment in Europe.
The stability of the euro may also be affected by rating agencies. Following Standard & Poor's and Fitch, Moody's finally made a move to Europe on the 13th, announcing the downgrade of the sovereign credit ratings of the six countries in the euro zone, such as Italy and Spain, and setting the rating outlooks of France, Britain and Austria as negative. Reflecting the financial and macroeconomic risks that the Eurozone sovereign debt crisis brings to these countries. Andrew Colquhoun, head of Fitch's Asia-Pacific sovereign rating, said recently that the attractiveness of the euro as a reserve currency will be weakened before the European debt crisis eases.
Since the outbreak of the European debt crisis two years ago, the three major international rating agencies have repeatedly “slashed their swords†to lower the credit rating of European countries. Every time the market has different levels of panic and shock, the rating agencies may also be in European countries in the future. The financial market rating has acted to make the euro stable and bear the risk.
The Chinese side has made it clear that it will continue to invest in government bonds in EU countries in accordance with the principles of liquidity and value-added, and will continue to participate in the settlement of Europe through various possible channels, including the IMF and EFSF and the ESM to be established. The problem of debt. However, some analysts said that although the EFSF bonds are backed by guarantees from 17 euro zone member states, only Germany is currently at the AAA level in these countries providing guarantees. Many other countries face the risk of financial difficulties and defaults, which creates uncertainty for stable cash flow. In addition, how to reinvest the pooled funds to generate cash flows to bondholders, EFSF also faces reinvestment risks.
Ding Zhijie, dean of the School of Finance of the University of International Business and Economics, said in an interview with the media that in the self-help aspect, the countries that have fallen into the European debt crisis and other EU countries are not doing enough at present, and his rescue will be difficult.
For investment institutions outside the central bank, perhaps European debt is not a good choice. Lou Jiwei, chairman of CIC, said in a public statement that European government bonds are not ideal for long-term investors like CIC. He said, "Government bonds in European countries like Italy and Spain can only be invested by central banks with specific responsibilities. In terms of business investment, it is difficult for long-term investors like us to make such investments."
2D Panel Fence,Wire Fence Panels,Mesh Double Wire Fence,Double Wire Fence Panels
HeBei Bosen Metal Products Co.,Ltd , https://www.hbbosenfence.com