政府支持下中國的外匯儲備依然高於3萬億美元

China’s foreign currency holdings remained above $3 trillion in December even as the yuan capped its steepest annual decline in more than two decades.

即使今年中國的外匯儲備處於最近20多年以來的最大幅度下跌中，12月仍然維持在3萬億美元之上。

Reserves fell $41.08 billion to $3.01 trillion the People’s bank of China said in a statement Saturday. That matched a $3.01 trillion estimate in a Bloomberg survey of economists.

據中國人民銀行週六發佈的一份聲明中說，外匯儲備下跌了410.8億美元，至3.01萬億美元。這和彭博面對經濟學家的調查得出的預測值3.01萬億相吻合。

China may take measures to keep its foreign-currency stockpile from slipping too far below the key $3 trillion mark to avoid hurting investor confidence and spurring further declines in the yuan according to economists at major banks. Policy makers have recently rolled outextra requirements for citizens converting yuan into other currencies after the annual $50000 quota for individuals reset Jan. 1.

據主要銀行的經濟學家稱，中國可能將採取手段來控制其外匯儲備不大大低於關鍵的3萬億的指標，以避免傷害投資者的投資信心以及刺激人民幣的進一步下跌。政策制定者們最近出臺了1月1日後對居民個人每年5萬美元的購匯額度增加額外限制的規定。

“China’s government is well positioned to control outflows more effectively if it wants to though it may not want to be seen as reversing China’s ‘opening’ strategy” Wang Tao head of China economic research at UBS Group AG in Hong Kong wrote in a recent note. “In the long run it may not have much choice if FX reserves fall more sharply on the back of intensifying capital outflow pressures.”

瑞士銀行在香港的首席中國經濟學家王濤日前表示：“中國政府只要想操作，完全可以更有效的控制貨幣流出，只是擔心這會顛覆中國的”開放性戰略“的形象。從長期來說，如果在貨幣流出壓力劇增的背景下，外匯儲備恐怕會下跌得更厲害，屆時也沒有什麼好的辦法來應對。”

The decline of foreign exchange reserves in December was mainly because the central bank supplied funds to maintain balance in the foreign exchange market and the depreciation of non-U.S. dollar currencies the State Administration of Foreign Exchange said in a separate statement on Saturday. For the full year of 2016 the SAFE said the central bank’s effort to stabilize the yuan was the key reason for the drop in reserves.

週六國家外匯管理局在一份獨立聲明中表示，12月外匯儲備的下跌主要是因爲央行在外匯交易市場放水穩定匯率，以及非美元貨幣貶值。對於2016年全年來說，國家外匯管理局表示央行試圖穩定人民幣匯率的努力是造成外匯儲備縮水的主要原因。

“The combination of policy-induced yuan stabilization and higher reporting requirements for households buying FX will buy the PBOC a little breathing room preventing escalating outflows in the first month of the year” Tom Orlik chief Asia economist at Bloomberg Intelligence in Beijing wrote in a note.

位於北京的彭博智庫的亞洲首席經濟學家Tom Orlic表示：“受政策驅動的穩定人民幣操作以及對家庭購買外匯提高申報要求的共同影響，央行在今年1月試圖阻止貨幣加速流出的操作空間就變得非常小。”