China Financial Daily

Yale University professor: Even now the stock market jumped a few months fine-tuning is no problem
“The next few years will not happen again a new wave of crisis.” Institute of Management, Yale University Professor of Economics at the financial well-known economist Chen Zhiwu August 14 that in Shanghai.

Chen Zhiwu, the same day his new book on the “financial logic” seminar held on the above statement. In his view, the originator of the 2007 financial crisis the world is nearing completion, will not be any so-called “second wave of shock.”

“Even as some experts predicted, the field of commercial real estate and credit cards there, but also will give rise to small-scale adjustment is unlikely to cause a panic in a crisis.” Said Chen Zhiwu.

In fact, on their own hedge funds have told the Post reporter Chen Zhiwu, the current U.S. financial market has returned to the orderly operation of the state, “If by a percentage point to describe, I think, at least to restore nearly 90%.”

A week ago, the Fed issued a statement just decided to slow down the purchase of a total of 300 billion U.S. dollars of treasury bonds. Taken the first time, intended to stimulate large-scale plans to end the “one small step”, so that many economists have become increasingly convinced that the crisis will be past.

Guangdong shops against underground banks to hide hot money flowing into the floor, the majority of the stock market
During these two days, a significant adjustment of the stock market and the property market has experienced a few months after the fire stopped trafficƫɽthe pace of price, trading volume has shrunk dramatically.

Chinese Academy of Social Sciences published the latest report points out that the second quarter of this year, the net increase in foreign exchange reserves 177.8 billion U.S. dollars, eliminate surplus, investment and the impact of exchange rate changes, unexplained foreign exchange inflows of up to 87.9 billion U.S. dollars, most of them are likely to be hot money. So how massive offshore funds to avoid foreign exchange regulation, stream flows to come in? Recently, this reporter conducted a survey to Guangdong.

Haifeng County in Shanwei in Guangdong walking along the Street, and some stalls there will always be some people before the day is stuck in a relatively fixed place where passers-by around the first, they will come to Chat-up lines. They are not in the selling of goods inside the shop, but to attract the business of currency exchange. When one of them stopped to see the press immediately after the carrying out of the renminbi and the Hong Kong dollar notes, indicating the reporter to go into the details of a corner. Reporter’s question, if the right price, on the one million dollar Hong Kong dollar immediately, the other party that can achieve the dollar, also said that one million figure is not much, “the number of how much can change.”

Outside the hot money may be as high as 122 billion U.S. dollars???China’s stock market
Recently, the emergence of the stock and property markets, both volume and price situationƫɽ, Shanghai breakthrough 3400-point mark once, daily average trading volume for many days to maintain billion in 2000, a record since the May 2007 volume of the day. Soaring stock prices rise at the same time, from the beginning of May, Beijing, Shanghai, Shenzhen, Guangzhou and other cities in housing prices and turnover in lineƕՇ. Analysis of the industry, after a brief retreat in 2008 and the wait-and-see, the foreign “hot money” seems to once again become active again.

According to statistics, in the second quarter of this year to increase our country’s foreign reserve more than 170 billion U.S. dollars, the increase is 23 times the first quarter, a huge increase in contrast and can not explain some of the market is causing great concern.

Suspected “hot money” could be as high as 122 billion U.S. dollars

The Hong Kong Monetary Authority recently active: in order to avoid excessive appreciation of the Hong Kong dollar, the HKMA continued to increase the amount of the Hong Kong dollar, the rare strength of concern for the market. “Increase is intended to stabilize the exchange rate put behind the ‘hot money’ hit Hong Kong and the sudden inflow of dollars.” Bank of Communications [11.10 -0.27%], chief economist at the mystery of which hit the mark Lianping.