Tarisa pa | muchikamu chechipiri chekuderera kwemari yekutsinhana kweRMB kuita chiitiko chikuru chemukana? Kutarisira njodzi yemari yekutsinhana kwebhizinesi kunofanira kudzivirira maitiro e "pro-cyclical" uye "kupararira"

Kubva muna Chikumi, kuderera kwemutengo weRMB kuri pachena, uye kushanduka kwemitengo kwadzikirawo. Mikana yakanaka yekuti PCB Screw Terminal Block, zvinobatanidza pini nemasokisiuye electroform yekuratidzamunda.

Pamusoro pezvo, maererano nekushandiswa kwemari yekune dzimwe nyika, data reChina rekutengesa kunze kwenyika nekutengeserana rakaderera muna Chivabvu kupfuura zvaitarisirwa, kukwira kwemitengo yezvinhu kwakaita kuti pave nekukwira kwakanyanya kwemari inopinzwa kunze kwenyika gore negore, uye kuwedzera kwemari inopinzwa kunze kwenyika pakutengeswa nekudiwa kwemari yekune dzimwe nyika uye mwero wekutsinhana kweRMB kuri kuonekawo zvishoma nezvishoma.

Panguva imwe chete, musika wekutenga mari yekune dzimwe nyika uchangobva kukwira zvakanyanya. Kazhinji kubva muna Chikumi kusvika Chikunguru, vanoisa mari vekune dzimwe nyika nemakambani akanyorwa kune dzimwe nyika vanopinda mumwaka wepamusoro wekubhadhara migove. Parizvino, kudiwa kwekutenga mari yekune dzimwe nyika kunounzawo kumanikidzwa kweRMB kudzikira kwemitengo.

Kubva pane zvakatipoteredza, US consumer price index (CPI) muna Chivabvu yakawedzera kukura kwegore ne5% mugore rapfuura mumakore gumi nematatu, zvichikonzera kushushikana pamusoro pekusimbiswa kwemari neFed, dhora index rakakwirira, yuan inogona kunge iri pasi pekumanikidzwa.

Kuwanda kwemari kwenguva pfupi mumusika wemari yekunze kuchasangana nedambudziko guru. Vachitarisira danho rinotevera, vaongorori vazhinji vanotarisira kuti mwero wekutsinhana kwemari weRMB wakaoma kubuda muchimiro chekukoshesa kwemari yekunze. Ne "hwindo" rekurerutswa kweFederal Reserve kuri kusvika, zvinhu zvakawanda zvakasimbisa dhora zvishoma nezvishoma, uye mwero wekutsinhana kwemari weRMB ungangotarisana nekuderera kwedzvinyiriro muhafu yechipiri yegore.

01 Musiyano unotarisirwa pamusika paRMB exchange rate

Kubva kutanga kwegore rino, mwero wekutsinhana kwemari yeRMB uchienzaniswa nedhora rekuAmerica wakaramba uchichinja-chinja uye wakagara wakadzikama, asi mwero wekutsinhana kwemari wakaramba uripo muna Kubvumbi naChivabvu, izvo zvakakwezva vanhu vakawanda. Mukupera kwaChivabvu, mari yeRMB yekunze neyekunze kwenyika yakakwira kusvika pa6.35 yuan, iyo yakakwira kwemakore matatu. Muzvinhu zvehupfumi, hapana shanduko dzakawanda dzinoonekwa, pane kuwedzera kwekutsinhana kwemari yeRMB, uye kune njodzi yekugadziriswa zvakanyanya.

Nechinangwa ichi, vane masimba ekutonga vakasimbisa kuti "kuchinja-chinja kwemativi maviri kwakajairika", "vanonyatsorwisa marudzi ese ekushandiswa kwemisika kwakaipa uye kugadzirwa kwetarisiro dzakaipa dzemunhu mumwe chete", "musabhejera pakukosha kana kudzikira kwemari yekutsinhana kweRMB, kubhejera kucharasikirwa kwenguva yakareba", uye vakaunza mamwe matanho akanangana ekudzikamisa nekutungamira zvinotarisirwa pamusika.

Vatori vechikamu mumusika vakataura kuti misangano yakakosha yazvino pamwe nevatungamiriri vemitemo vakataura nezvenyaya yekuchinjana kwemari kwenguva yakawanda, uye vakakwidza huwandu hwemari inochengetedzwa kubva kune dzimwe nyika mumasangano emari pamwe nezvimwe zviratidzo zvekuchinja kwemitemo yekuchinjana kwemari yeRMB, uye tarisiro yekuchinjana kwemari yeRMB mumusika yakasiyanawo.

Tang Jianwei, mukuru wevaongorori paFinancial Research Center yeBank of Communications, akati vane masimba emari yekunze kwenyika vakarega kupindira kwakajairika mumusika wemari yekunze, asi vachiri kutungamira zvinotarisirwa mumusika kuburikidza nemamwe maturusi emutemo ekusimudzira hunhu hwekuchinja-chinja kwemari yeRMB munzira mbiri.

Nhamba yedhora haizodziki kwenguva refu

Kurudziro yakasimba yemari inogona kukurumidzisa kumuka kwehupfumi hweUS, nokudaro ichisimbisa dhora. Munguva pfupi yapfuura, United States iri kuronga uye iri kusundira hurongwa hutsva hwekusimudzira mari kuti itange hurongwa hwekusimudzira mari hwemadhora matiririyoni matanhatu.

Kunyangwe "zvichave nematambudziko akawanda mukushandiswa kwechirongwa chekusimudzira mari, tarisiro yeramangwana rehupfumi hweUS pamwe nemhedzisiro inoshanda yemamwe matanho zvinogona kuva chimwe chezvinhu zvinotungamira kusimbaradzwa kwedhora rekuUS nguva nenguva, uye mwero wekutsinhana kweRMB wakaoma kubuda mutsika yekukosha kwePingchuan," akadaro mukuru wezvehupfumi weZhixin investment uye purezidhendi wesangano rekutsvagisa Lian Ping.

Pamusoro pezvo, United States nedzimwe nyika dzakabudirira dzinotarisirwa kuwana dziviriro yezvirwere muchikamu chechitatu chegore, uye PMI muEurope neUnited States yasvika padanho idzva munguva pfupi iri kutevera, zvichiratidza kuti kukurumidza kwekuvandudzwa kwehupfumi kuri kusimba zvakanyanya, uye mabhenefiti ehupfumi hweChina achaderera.

Lian Ping akati munguva ino neyamangwana, hupfumi hweUS hunogona kuita zviri nani pane euro zone munzira dzakawanda, uye dhora rinogona kusimba nguva nenguva. Uye njodzi dzepasi rose dzezvematongerwo enyika dzichawedzerawo kuwedzera kudiwa kwedhora zvishoma nezvishoma.

Tang Jianwei akasimbisawo kuti kudzikira kwe "kukura kwehupfumi" hweUS muhafu yechipiri yegore kuchavawo chinhu chakakosha mukudzikira kwemari yekutsinhana kweRMB.

Akataura kuti hupfumi hweUS hunogonawo kusimbisa dhora zvakare muhafu yechipiri yegore. Pamusoro pezvo, gore rino, hupfumi hweChina hucharatidza maitiro ekuti "pamusoro nepasi", nepo United States nepasi rose zvingava "zvakaderera nepamusoro". Kudzikira kwe "musiyano wekukura" kwehupfumi hweUS muhafu yechipiri yegore kuchaisa dzvinyiriro paRMB exchange rate. Kunyangwe RMB exchange rate yakaramba ichikwira munguva pfupi yapfuura, haizobudiriri muchimiro chekukwira kwemari, asi dzvinyiriro yacho yakakura.

Zvinhu zvekudzivirira nekudzivirira denda zvichavewo rutsigiro rwakakosha mukusimudzira dhora rakasimba. Zhang Yu, mukuru wenyanzvi dzezvehupfumi dzeHuachuang Securities, anotenda kuti danho iri rekudzivirira nekudzivirira denda riri nani pane Europe. Kunyangwe zvinhu zvenguva pfupi zvakaita sekupinza majekiseni nekukurumidza muEurope zvakaderedza dhora mumwedzi miviri yapfuura, hazvigone kudzivirira dhora kuti risadzoke mukati menguva pfupi uye kwenguva refu, uye RMB inogona kunge iri pedyo ne inflection point of depreciation.

Kuwirirana kweChina nemutemo wezvemari weUS kunogona kumanikidza mwero wekutsinhana kweRMB. "Kana United States yangokwidza mwero wemubereko, zvingangoita kuti China isazotevera nekukurumidza, uye kupararira kwemwero wemubereko pakati peChina neUnited States kuchawedzera kuderera, kana kuti kungatove nekupararira kwepakati nepakati, izvo zvichasimudzira dhora." "" Lian Ping akadaro.

Mutengo wekutsinhana kwemari weRMB wegore ra2003 wakatarisana nekumanikidzwa kwekudzikira kwemitengo mukati megore

Pasi pehurongwa huripo hwemari yekutsinhana, mari yekutsinhana yeRMB inotarisirwa kuramba ichichinja-chinja nenzira mbiri. Pan Gongsheng, director weState Administration of Foreign Exchange, akataura paLujiazui Forum kuti kune zvakawanda zvisingazivikanwe uye zvinhu zvisina kugadzikana munzvimbo yekunze zvinokanganisa shanduko dzemari yekutsinhana. Kutarisira njodzi yemari yekutsinhana kwemakambani kunofanirwa kudzivirira maitiro e "pro-cyclical" uye "asina kupfeka", usabhejera pakukosha kana kudzikira kweRMB, kubhejera kucharasikirwa kwenguva yakareba.

Vazhinji vari mumusika vanotenda kuti muhafu yechipiri yegore rino, kumanikidzwa kweRMB exchange rate depreciation kwakanyanya. Kuti kusimbiswe manejimendi yekuchinjana mari yekunze mumasangano emari, People's Bank of China yakawedzera huwandu hwemari inochengetedzwa ne foreign exchange deposits mumasangano emari ne2 muzana kubva muna Chikumi 15, izvo zvichamisa mari inosvika mabhiriyoni makumi maviri emadhora emari yekunze uye zvichabatsira kusimbisa mari yekunze mumusika wemuno.

Panguva imwe chete, zvichienderana nezvakaitika mumakore apfuura, kubva muna Chikumi kusvika Nyamavhuvhu ndiyo nguva yepamusoro yekutsinhana kwemari yekune dzimwe nyika kumakambani ekuChina akanyorwa kunze kwenyika, uye zvinotarisirwa kuti gore rino ringave rakakwirira kupfuura mabhiriyoni makumi manomwe emadhora, izvo zvichave chinhu chakakosha mukusimudzira kudzikira kweRMB munguva pfupi yapfuura.

"Kunyangwe hazvo hurumende yeChina ichiita basa rayo rekuchinjana mari yekunze ichirega kupindira kwayo mumusika wekuchinjana mari yekunze, icharamba ichitungamira zvinotarisirwa mumusika kuburikidza nemamwe maturusi emutemo ekusimudzira hunhu hwekuchinja-chinja kwemari yeRMB." "" Tang Jianwei akadaro.


Nguva yekutumira: Chikumi-17-2021