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China’s foreign exchange reserves fell by $108bn in December to $3.33tn, a bigger fall than expected and the biggest monthly drop on record.
去年12月，中國(guó)外匯儲(chǔ)備下降1080億美元，至3.33萬(wàn)億美元，降幅超過(guò)預(yù)期，同時(shí)也是有記錄以來(lái)最大的單月降幅。
Economists were expecting reserves of $3.42tn.
經(jīng)濟(jì)學(xué)家曾普遍預(yù)期去年12月中國(guó)外匯儲(chǔ)備為3.42萬(wàn)億美元。
The big fall underscores a key point: the People’s Bank of China is fighting the market to keep the renminbi up, not steering it lower as some suspect.
外儲(chǔ)大降凸顯出很重要的一點(diǎn)：中國(guó)央行正在與市場(chǎng)抗?fàn)?、以力挺人民幣，而不是如有些人猜測(cè)的那樣操縱人民幣貶值。
Reserves have been falling since June 2014, when they peaked at nearly $4tn. They’ve since fallen almost every month, for a cumulative 16.6 per cent, as the central bank sells dollars from its reserves to curb renminbi weakness. The rate hike by the US Federal Reserve last month will also have prompted outflows.
中國(guó)外匯儲(chǔ)備在2014年6月達(dá)到近4萬(wàn)億美元的峰值，此后不斷下降。隨著中國(guó)央行出售美元儲(chǔ)備以抑制人民幣走弱，中國(guó)外匯儲(chǔ)備幾乎每個(gè)月都有所下降，迄今的累積降幅為16.6%。上月美聯(lián)儲(chǔ)(Fed)加息也加劇了中國(guó)的資本外流。
China’s forex reserves — the world’s largest —are seen as an ultimate guarantor of financial stability as they can be used to hedge against capital flight or to bail out domestic financial institutions struggling with a rise in bad debts.
中國(guó)擁有全球最多的外匯儲(chǔ)備，它們一直被視作金融穩(wěn)定的最終保障，因?yàn)樗鼈兛杀挥脕?lái)對(duì)沖資本外逃、或救助正努力應(yīng)對(duì)壞賬增加的國(guó)內(nèi)金融機(jī)構(gòu)。
In August, the month the PBoC devalued the currency and tweaked the way if “fixes” the daily rate, reserves fell by $93.9bn – the most on record until this new data set.
去年8月，中國(guó)央行調(diào)整了人民幣匯率中間價(jià)形成機(jī)制并讓人民幣貶值，當(dāng)月外匯儲(chǔ)備下降了939億美元，在當(dāng)時(shí)創(chuàng)下了最大月度降幅紀(jì)錄。這個(gè)紀(jì)錄已被上述新數(shù)據(jù)打破。
