China's Balance of Payments (Revised Edition)

Author: Wang Tong
Publisher:
Publish Date: 2005-06-01
Features: Chapter 1 introduces the basic concepts of balance of payments and the importance of studying the balance of payments and strengthening its management for China; Chapter 2 introduces some terms and concepts of balance of payments, describing the main characteristics of China's balance of payments changes, including the main characteristics of changes in China's current account, capital and financial account, reserve account, and balance of payments errors and omissions; Chapter 3 analyzes the global balance of payments situation, including the world's current account balance, capital flows under the world's capital account, and summarizes the scale of the world's capital market, as well as the total external debt and foreign exchange reserve balances of developing countries globally; Chapter 4 focuses on China's moderate foreign exchange reserves and available foreign exchange for foreign investment. This chapter introduces theoretical analysis and empirical judgment methods for moderate foreign exchange reserves, establishes a mathematical model for China's moderate foreign exchange reserves, and uses this model to measure the scale of China's available foreign exchange for foreign investment at the end of 2003; Chapter 5 specifically discusses China's external debt and debt management; Chapter 6 provides a broad overview and forecast of China's balance of payments during the 11th Five-Year Plan period (2006–2010), including the international economic and financial environments of China during the 11th Five-Year Plan period (the world economy and the world financial market during the 11th Five-Year Plan period), the reform goals of China's balance of payments and foreign exchange management during the 11th Five-Year Plan period, an overview of China's balance of payments during the 11th Five-Year Plan period, China's current account, capital and financial account during the 11th Five-Year Plan period, China's foreign exchange reserves during the 11th Five-Year Plan period, and recommendations for strengthening the management of the balance of payments; Chapter 7 briefly introduces China's "Go Global" strategy. Chapter 8 uses empirical analysis methods, qualitative analysis methods, and quantitative analysis methods to study the RMB exchange rate issue. The last two chapters of the book are highly technical. Chapter 9 introduces the indicator system for building China's balance of payments early warning system and provides a concise database of China's balance of payments. Chapter 10 comprehensively discusses China's balance of payments model and uses this model to forecast China's balance of payments for 2005.