The Research On Chinese Foreign Exchange Reserves Influence Factors

Enter in the 21st century, the unbalance phenomenon of the global economy is more and more outstanding. This paper analyze the new characteristic of the world foreign exchange reserves growth,and mainly explain the problem from saving-investment angle. Main method is: As the traditional theories standard can't explain the foreign exchange reserves problem nowadays,we analyze various factor that influence the Chinese foreign exchange reserves, emphasize to select the exchange rate factor,and use theories and experience method to analyze relationship between china exchange rate and foreign reserves.and compare the same problem to Japan during 1980-1990s.At last we find the saving-investment is the deep reason that can explain the foreign reserves problem.then we go further to find the reason that influence the saving-investment and get some conclusion.1,This paper analyse the new characteristic of the world foreign exchange reserves growth,that is most countries except America appear the foreign reserves violent increase.2,We analyse various factor that influence the Chinese foreign exchange reserves, emphasize to select the exchange rate factor,and use theories and experience method to analyze relationship between china exchange rate and foreign reserves,and compare the same problem to Japan during 1980-1990s.We find that China has the same situation as Japan.Get the conclusion that not exchange rate but saving-investment is the deep factor influence the foreign reserves.3,From the angle of saving-investment to analyse Chinese foreign exchange reserves,we get the conclusion that :It is because the limitation of the saving-investment system,the inefficiency of the transform of saving-investment and foreign investment including nonsence and effective investment that make foreign capital flow into China under the condition that saving is more than investment,and further make the China balance of payments double surplus.