Subscribe free to our newsletters via your
. Earth Science News .

Subscribe free to our newsletters via your

China Central Bank Says Direct Impact Of US Subprime Crisis Limited

by Staff Writers
Beijing (AFP) March 6, 2008
The direct impact of the US subprime crisis on the Chinese economy has so far been limited, but policy makers should pay attention to possible ripple effects, China's central bank chief said Thursday.

"As of now, the crisis has not yet run its course, and it shouldn't be ignored," said Zhou Xiaochuan, governor of the People's Bank of China, speaking on the sidelines of the ongoing annual meeting of the nation's parliament.

"In terms of the direct impact... the proportion of subprime investments accounted for by Chinese financial institutions is relatively small, and they can handle it," he said.

"In terms of the indirect impact, the US economy may influence the global economy, for instance when it comes to trade, and there may be some further effects, so we need to wait and see."

A third possible impact was in the form of the US Federal Reserve's interest rate cuts, which might loosen liquidity, with an impact on China's monetary policies, he said.

A number of Chinese lenders, including Bank of China, have reported limited exposure to subprime assets.

Email This Article
Comment On This Article

Related Links
The Economy

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Klepto-Capitalism Drives Sub Prime Meltdown
Washington DC (UPI) Mar 06, 2008
The bursting of the housing bubble, which punctured the credit bubble, was a criminal enterprise at the outset, pooh-poohed at first by those who should have known better, that has now triggered a global economic crisis. The U.S. prison population is at an all-time high with 2.3 million behind bars, but the subprime con men/women are enjoying the fruits of their scams.

  • Millions Of Victims, Little Aid For Philippines Disaster Victims
  • Non-aligned Finland to join NATO rapid reaction force
  • Brussels seeks European disaster response force
  • Outsourcing The Answer For EU Forces, Commander Says

  • Warmer Springs Mean Less Snow, Fewer Flowers In The Rockies
  • Killer Freeze Of 2007 Illustrates Paradoxes Of Warming Climate
  • Will Global Warming Increase Plant Frost Damage
  • Australian drought easing but not over: experts

  • Falcon Investigates Pollution From The Dakar Metropolis Into Desert Dust Layers
  • NASA Extends Mission For Ball Aerospace-Built ICESat
  • CIRA Scientist Among Authors Of Book Celebrating 50 Years Of Earth Observations From Space
  • Indonesia To Develop New EO Satellite

  • Imports From Latin America May Help US Meet Energy Goals
  • Emerald Isle to go green: Irish PM
  • Nigerian Oil Industry Good For 40 More Years
  • China's biggest oil producer in talks with Qatar: report

  • Bird tests positive for deadly flu strain in Hong Kong
  • UNAIDS calls for lifting of HIV-related travel restrictions
  • Bush urges Congress to pass bigger AIDS program for Africa
  • WHO plays down bird flu threat in China after three human deaths

  • Can Moths Or Butterflies Remember What They Learned As Caterpillars
  • French biologists sound alarm over imperilled species
  • Study Finds Future Battlegrounds For Conservation Very Different To Those In Past
  • Invasion Of The Cane Toads

  • Greeks shipping firms oppose pollution controls
  • Chinese yellow sand hits Japan, SKorea: officials
  • Gold upstream, poison downstream in Philippines fairy mountain
  • Creation Of A New Material Capable Of Eliminating Pollutants Generated By The Hydrocarbon Industry

  • China's high court rejects 15 percent of death sentences in 2007: report
  • Premier says China will stick with one-child policy
  • US Internet users going mobile: study
  • When It Comes To Emotions, Eastern And Western Cultures See Things Very Differently

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement