Hot money influx is 'cooling down'_财经新闻

Hot money influx is 'cooling down'

文章来源：文章作者：发布时间：2007-07-14 02:32 字体： [大中小]　进入论坛

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July 13 - The influx¹ of speculative² money from overseas, or hot money, into China's stock market is showing signs of slowdown thanks to recent cooling-down measures by the government, analysts³ said.

The increase in foreign exchange reserves not attributed to trade surplus or foreign direct investment declined from $73 billion in the first quarter to $48 billion in the second quarter, according to data from investment bank Lehman Brothers and CEIC, an international financial information provider.

China registered a rise in foreign exchange reserves of $131 billion in the second quarter. Despite its high percentage in annualized terms, the actual amount is less than the $136 billion that China earned in the first quarter.

The change "suggests that hot money inflows may be slowing," Sun Mingchun, vice-president and Asia economist⁴ of Lehman Brothers Asia Ltd, told China Daily yesterday.

He attributed it to strict checks by the government on illegal capital inflows and slow trading in the equity⁵ market since the rise in the stamp tax on stock transactions in early June.

The hot money may now go to Hong Kong or other markets to seek better investment returns, Sun said.

In another development, the State Administration of Foreign Exchange (SAFE) repeated its call yesterday to control illegal capital inflows, or money going into the stock or real estate markets betting on the yuan's appreciation⁶, under the pretext⁷ of trade payment or direct investment.

"The regulatory authorities will continuously strengthen monitoring and administration of cross-border flows of funds, and block the inflow of foreign capital on fictitious⁸ trade claims," said a statement posted on the SAFE website yesterday.

Sun of Lehman Brothers said that the government should publish the results of the investigations⁹ and penalize¹⁰ companies violating the regulations, "to prevent more companies from following suit".

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收听单词发音

1 influx
n.流入，注入
参考例句：
The country simply cannot absorb this influx of refugees.这个国家实在不能接纳这么多涌入的难民。 Textile workers favoured protection because they feared an influx of cheap cloth.纺织工人拥护贸易保护措施，因为他们担心涌入廉价纺织品。

2 speculative
adj.思索性的，暝想性的，推理的
参考例句：
Much of our information is speculative.我们的许多信息是带推测性的。 The report is highly speculative and should be ignored.那个报道推测的成分很大，不应理会。

3 analysts
分析家，化验员( analyst的名词复数 )
参考例句：
City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。 I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

4 economist
n.经济学家，经济专家，节俭的人
参考例句：
He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。 He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

5 equity
n.公正，公平，（无固定利息的）股票
参考例句：
They shared the work of the house with equity.他们公平地分担家务。 To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

6 appreciation
n.评价；欣赏；感谢；领会，理解；价格上涨
参考例句：
I would like to express my appreciation and thanks to you all.我想对你们所有人表达我的感激和谢意。 I'll be sending them a donation in appreciation of their help.我将送给他们一笔捐款以感谢他们的帮助。

7 pretext
n.借口，托词
参考例句：
He used his headache as a pretext for not going to school.他借口头疼而不去上学。 He didn't attend that meeting under the pretext of sickness.他以生病为借口，没参加那个会议。

8 fictitious
adj.虚构的，假设的；空头的
参考例句：
She invented a fictitious boyfriend to put him off.她虚构出一个男朋友来拒绝他。 The story my mother told me when I was young is fictitious.小时候妈妈对我讲的那个故事是虚构的。

9 investigations
（正式的）调查( investigation的名词复数 )；侦查；科学研究；学术研究
参考例句：
His investigations were intensive and thorough but revealed nothing. 他进行了深入彻底的调查，但没有发现什么。 He often sent them out to make investigations. 他常常派他们出去作调查。

10 penalize
vt.对…处以刑罚，宣告…有罪；处罚
参考例句：
It would be unfair to penalize those without a job.失业人员待遇低下是不公平的。 The association decided not to penalize you for the race.赛马协会决定对你不予处罚。

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