The Impact Of China's International Payments Imbalance And Countermeasures

The balance sheet of China International Payment was compiled in 1982. In the year 1984, annual international payment balance sheet began to announce. The setup of the statistic index has been fully internationally comparable since 1997. Great changes have taken place on the scale and structure of international payments balance over 2 decades. A conspicuous phenomenon emerged in the latter half of the 20th century: From 1994 to 2005, China International Payment has maintained a sustainable"double surplus"of the regular item and capital item, which, however, is not a common phenomenon.The reasons why the"double surplus"structure of China's international payment leads to s sustainable expansion of international balance payment are based on the comprehensive effect of a series of factors. It not only reflects the change of international macro-economic environment, the development level of China's international economic department, but reflects the flux of China's internal economic structure and industry and the constitution and implemental effect of China's relevant international balance regulatory measures.Take a view of the whole conditions of internal balance payments, surplus or deficit both belong to a related policies in which the unbalance status of the international balance payment affects the economic function, resource setup, fund exercise and even the economy fellow countries. Though the present surplus of China international balance payment is beneficial for China's international discharging ability, improvement of investors'confidence toward China's economy, solving of international financial risk and embodiment of the improvement of China's economy competitiveness and the good situation of a strong absorption for foreign investment, yet what should not be ignored is the facts that a sustainable large sum of surplus is also a kind of unbalance of international payment. The hidden negative facts also should be noticed.China State Foreign Exchange Management Bureau has taken a series of measure to make the improvement of the large sum of international payments surplus come true, including reform the management of foreign exchange accounts, expand the right of autonomy for enterprises of using foreign exchange flexibly, relax restrictions of offshore foreign exchange investment, support"going out"of domestic enterprises, open security investment step by step, broaden the channel of entrance and exit of funds, allow the overseas Chinese citizens to transfer their money from China to other countries and allow international development agencies to issue RMB bonds in China, etc. However, the adjustment of the unbalance of international payments is an overall and strategic job which depends on the adjustment of domestic economic structure involving in various aspects of systemic reform and a change of thinking way.This text aims at analyzing the current conditions of the unbalance of China International Payments. Judge and forecast the future development of China's unbalance of International payments by the analysis of the main factor influencing China's future international payments, give an appraisal of the comprehensive influence of the unbalance of China's International payments and at last put forward the adjusted pattern choice and target direction of China international payments for which countermeasures are taken in order to realize it.