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Federal Reserve monetary policy normalization effect on our overall control

SAFEspokesmanWANGChun-ying,23,saidtheimpactoftheFed'smonetarypolicyhasbeenthenormalizationoftheshow,butoverallcontrol.TheStateCouncilInformationOfficepressconferenceheldonthe23rd,WANGChun-yingsaidthattheFed'squantitativeeasingmonetarypolicylastsubstantivequit,toemergingeconomieshasbroughtwidespreadimpactofcross-bordercapitalflowsalsofurtherincreasethetwo-wayfluctuation,butnochangethenetannualcross-bordercapitalinflows,thebalanceofpaymentscaliberforeigncurrencyreserveassetsgrowth."Inthefirstquarter,theFedisexpectedtoraiseinterestratesandotherfactorsledtotherapidappreciationofthedollar,whichisanimportantdriverofcross-bordercapitaloutflow,butinthesecondquarteralongwithchangesindomesticmacroeconomicenvironment,themomentumisslowingdowntheoutflowoffunds,Forextendtobalancesupplyanddemand,indicatingthatwithinthecurrentimpactoftheFed'smonetarypolicynormalizationstillaffordablerange."WANGChun-yingsaidtheFedtoraiseinterestrates,thedollarcouldaffectthefinancialoperationsofdomesticenterprises,increaseofcross-bordercapitalflowvolatilityanduncertaintyinthemarket,andexchangeratepoliciestobringsomechallenges.Buttosomeextent,explainbetterprospectsfortheUSeconomicrecoverywillhelptoimprovemyforeigndemand,butalsocanbecomefurtherreformandopeningup,acceleratethemomentumtobuildanopeneconomynewsystem.ShesaidthatChina'sabilitytoresistthestrongimpactofcross-bordercapitalflows,buttheassociatedriskscannotbetakenlightly."Donotruleoutthepossibilityofindividualenterprisesexistheavydebtburden,durationorcurrencymismatchmoreprominentissues,requirescompaniestoactivelyadjustaccordingtotheirownsituation."