When Premier Wen Jiabao told this year’s World Economic Forum in Davos that the Chinese Government was explor- ing more efficient ways to use its massive foreign exchange (forex) reserves to boost the domestic econom...When Premier Wen Jiabao told this year’s World Economic Forum in Davos that the Chinese Government was explor- ing more efficient ways to use its massive foreign exchange (forex) reserves to boost the domestic economy, he empha- sized that the reserves could only be used overseas. Zuo Xiaolei, Chief Economist of Beijing-based China Galaxy Securities Co. Ltd., recently wrote an article in the Securities Times explaining why the country’s forex reserves can only be used overseas and how they can help stimulate domestic development. Edited excerpts follow:展开更多
文摘When Premier Wen Jiabao told this year’s World Economic Forum in Davos that the Chinese Government was explor- ing more efficient ways to use its massive foreign exchange (forex) reserves to boost the domestic economy, he empha- sized that the reserves could only be used overseas. Zuo Xiaolei, Chief Economist of Beijing-based China Galaxy Securities Co. Ltd., recently wrote an article in the Securities Times explaining why the country’s forex reserves can only be used overseas and how they can help stimulate domestic development. Edited excerpts follow:
