Lou Jiwei takes office as minister of Ministry of finance close already 4 months, and the China that its steer a boat before this invests finite liability company (next weighing " in cast " ) however tardy nobody receives a baton, president is vacant still. To the decision-making layer of instantly, should search for foreign exchange reserve of Chinese a huge sum hold dish of hand suitably, in order to defeat solution current outside store predicament, it is not easy really.
President person selected: Who is in charge of for final investment
Resembling is an encircle a city, "Accord with a condition do not want to take over, want to take over do not accord with a condition. " president of group of the food in coming out when in the bookshops coulds there be high rather president is sent in will be being taken up the post of when the message of one duty, the reaction of industry is " some are comical " .
From May bottom, the State Council appoints Industrial and Commercial Bank of China Li Xiaopeng of former assistant president after company inspect thing is being cast to grow in be, cast in steer a boat the person's hearsay has appeared many version. Before this rife, currently hold the post ofShanghai the Tu Guangshao of standing deputy mayor is the person selected with the largest possibility,norton internet antivirus and his competitor includes Central Bank assistant president to hold concurrently outside Jiang Jianqing of president of sail of Huangji of mayor of city of Yi Gang of tubal bureau director, Chongqing, industrial and commercial bank, and in cast a company to currently hold the post ofassistant president Gao Xiqing. On June 28, again the message says, ding Xuedong of deputy secretary-general of the State Council will be received cast in the palm.
"Very big now question is being thrown in is to do not have a person to be willing to be in charge of for final investment. " personage of know the inside story tells "Chinese economy weekly" , the candidate that president sends in people afraid, items of an account is cast to may be put in the risk with particular move in, in taking over, cast will make them more passive. Some tall canal of state-owned bank expresses after learning its to invest assorted circumstance: "Cast in in short time introversion global limits has multiform investment, tell final income very hard to meet how. Tell final income very hard to meet how..
But afore-mentioned personages say frankly, group ministry is reached in more the high level is hesitant on president person selected, the likelihood is not pure the individual apiration because of candidate, the external environment that has produced acuteness change just is medium probably send president " difficult labor " real reason.
"The duty that casts in is the rise in value keeping a cost that realizes capital of national foreign currency, spoken parts in an opera, want to make money namely. It is neglect one's duty otherwise. " in cast assistant president Gao Xiqing to be in this year "Two meetings" hind express, "Cast in frofree modern dining chairsm at the beginning the direction of set is to should do a financial investor, do the long-term investor that is a purpose with seeking profits, what did not call north face shirtssomewhat is strategical target. And the market that what we are faced wfree norton internet antivirusith is a dinkum asset management, make money according to the family's regulation, means and concept " .
However, as a result of in the special status that cast, when having a few overseas investment, meet those who a few is not financial element to appear. Cast in invest an orgnaization as money of China's at present only national level sovereign rights, a lot of investment are given priority to with investment of finance affairs sex, contwatch casesain certain strategic property necessarily.
norton internet antivirus"Resemble investing Magenshidanli, although be of deficit on Zhang face at present, but we obtained Magenshidanlidi the position of 2 large stockholder and chair of board of directors, smooth this already special god-given. This investment is apparent cannot pure came in order to make money judge. " the public figure that in be close to, projects expresses, the thinking that invests black Shi Ye and Magenshidanli is similar, and before this in deliver much investment mineral products and the sources of energy kind asset, while finance affairs invests, also have its strategy eye.
Gao Xiqing also expresses before this: "Although we have the case that a few investment suffer a defeat, but actually, the investment of our whole is those who exceeded set of board of directors is fiducial, and be in with contact with of these two companies in, we won a lot of things. We won a lot of things..
This kind compares ambiguous investment thinking, the outstanding achievement that in letting, casts is evaluated very hard completely with yield.
Of the government " form "
Cast in from one " be born " was destined of the identity different. Cast in 2007 at the beginning of holding water, issued special national debt to buy fund of foreign exchange reserve of 200 billion dollar to the Central Bank by the Ministry of finance, the enrollment that in serving as with this, casts capital. The par accrual ofmodern dining chairs this one special national debt is 4.3%~4.5% about. That is to say, cast in in the beginning of hold water, bore a heavy burden.
A personage that the company joins in be close to expresses, company of a lot of abroad in cast the and rather than of a branch that should do Chinese government enterprise, the other side abandoned cooperative desire after the setting that knows a company.
Cast in try to go the government is changed. Cast in have two main subsidiary actually, one is the central company that collect gold, one is medium join international company. The overseas investmentthe most popular selling norton internet antivirus project that joins in by in cast international to assume, when investing external, cast in in hoping others is used more, cast they are waited for in light of international, because in the company property that casts international is more remarkable.
Another lets what overseas market oppugns is, at present in the center of vancouver to harrison hot springscollect gold by in cast accuse, and in the center of collecting gold is a country sex of many 4 big travel, stockjobber, policy is built in opening travel, workers and peasants the large stockholder of insurance company, the orgnaization of right of partner of exercise of acting the State Council, although in the center of collect gold and in the management that cast is radical departure, but the central identity heart that politicwatch case openers look forward to throws to be not divided in collecting golden existence to still make overseas market right puts apprehension.
But some moment, governmental standing also is met the pass that in becoming, throws, how is him company cast to decide in balance criterion need.
"Debt turns " tentative idea
What the reflection of investment difficult position that casts in goes out is the predicament of Chinese foreign exchange reserve. Regard the whole world as country of the largest foreign exchange reserve, at present China has foreign exchange reserve of a huge sum of 3.4 trillion dolspring poollar. Broken bits hits bank whole world to study chief economist Lyons expresses, if past is 10 years with " China is made " for the feature, below 10 years will with " owe China " for the feature.
It is reported, at present the 2/3 of Chinese foreign exchange reserve is dollar debt kind asset, it is American national debt for the most part; Euro dominion debt kind asset occupies 1/4 about; In addition, still have a few East Asia all countries national debt. Analytic personage thinks, although China wants to break the dependence of pair of United States national debt, but the fund that can draw the abroad in be being flowed into currently to collect reserve without other any market flows.
Cast in at the beginning of holding water oneself, begin to try to widen foreign currency invests channel. In May 2007, in still be being prepared in cast with Hei Shi group of United States of share of 3 billion dollar, however Hei Shi drops in immediately of the share price after IPO broken release price. The brushstroke that the company joins in regarding as invests, this collects investment to run means and risk pilot argument outside causing home to be opposite at that time.
After this, cast in with H of the iron in China of subscribe of 100 million dollar new, a kind of when with making an appointment with 5 billion dollar to buy Magenshidanli the company issues beard after expiring turns be common stock can change equity unit. Below the influence of financial crisis, first years are cast in unsuccessful, the overseas investment return rate 2008 is - 2.1% .
Right amount with investment, it is the two catastrophe problem that foreign exchange reserve of Chinese a huge sum does not circle the past. In Tsinghua university courtyard of fair condominium a Confucian school of idealist philosophy of the Song and Ming Dynasties teachs Yu Qiao to look, solve the investment problem of Chinese foreign exchange reserve, need " the system is designed " add " the tool is designed " , change the configuration way of semiofficial, government into the diversification that gives priority to body with the market to configure means, produce current golden financing as far as possible at the same time asset of translate into objective.
Occupy Yu Qiao to calculate, in dollar assets, about 1 trillion dollar is American national debt, "Go up somehow be faced with ' retreat big and hard ' (Toobigtoexit) corner. " Yu Qiao thinks, as a result of the reason of quality of Central Bank asset, at present financing of gold of with a view to produces the investment more of bureau of national exchange control. He suggests to be able to use a variety of carrier such as the fund of fund of asset management company, abroad estate, fund, the concentration that will change big unify administration means.
Tool respect, monograph of Yu Qiao Zaiji " Chinese foreign exchange reserve and global estate investment " offer in one book, to the each country national debt in foreign exchange reserve and orgnaization debt, can use " debt turns " means, the bond with inferior accrual gradually translate into gains is relative taller equity. Can draw lessons from on the operation since 2011 between European Central Bank and beautiful couplet Chu Zhi many rounds " crossing-over of provisionality dollar fluidity is arranged " experience.
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