国际热钱

国际热钱是短期投机资本，具有逐利性、投机性、流动性极强的特点。

Hot money is short-term speculative capital , profit-driven , strongly liquid .

中国的房地产市场俨然已成为国际热钱的一个主要目标。

The real estate market has indeed become a major target for international hot money .

让情况复杂化的是，国际热钱不断流入，购买处于升值趋势的人民币资产，让中国形成了巨额国际收支盈余。

Compounding the situation , inflows of international hot money to buy ever-higher renminbi assets led to enormous balance of payments surpluses .

我们不仅要严防国际热钱流入，而且要限制资产价格泡沫、阻击国际热钱套利。

Besides strictly preventing the inflow of international hot money , we must curb the asset price bubbles and check the arbitrage of international hot money .

1997年东南亚金融危机之后，国内外学术界进行了关于国际热钱的讨论。

After the Southeast Asian financial crisis in 1997 , the discussion about international hot money has been carried on at home and abroad in academic circles .

在近年人民币升值压力存在的情况下，我国又一次展开了关于国际热钱进入中国的讨论。

While RMB is confronted with appreciation pressure in recent years , the debates that entry into China of international hot money has been spread out again in China .

既要分析不同情况下国际热钱进入的渠道，更应对防止国际热钱的破坏作用提出可行的方案。

This paper discussed generally conception and the characteristic of international hot money and analysed the entering channels of international hot money under the different circumstances , and has put forward our views for the various schemes of preventing its destructive action .

国际热钱向来热衷于证券市场，特别是我国作为新兴市场，经济形势较好，人民币升值潜力较大，利率偏高，证券市场和房地产市场等存在较大的利润。

Particularly , China is an emerging market where economic situation is better than others . Then , RMB is potential to be more valuable . Here interest rates is much higher . There is huge profit in stock market and real estate market .

2004年，应严格控制固定资产投资和固定资产贷款的过快增长，力促我国地区之间的优势互补，重点防范通货膨胀的发展，调整外汇储备政策，密切关注国际热钱对我国金融市场的冲击。

In 2004 , too rapid increase of fixed assets investment and fixed assets loans should be severely controlled for accelerating complementary advantage between regions in China , primarily preventing against inflation , adjusting foreign exchange reserve policies , and focusing on assault of international hot money .

这种情况下，国际热钱与游资大量流入我国境内，赌人民币升值预期，成为近几年我国外汇储备和外汇占款快速上升的主要原因。

In this case , international hot money and idle fund flow into our country in a large amount , gamble the appreciation expectancy of RMB , become of our country foreign exchange reserve with foreign currency account for main reason that fund rise fast in recent years .

奥巴马对人民币汇率问题较为温和，这对于中国货币政策来说，意味着在汇率和热钱上的压力会更小，也意味着人民币连续升值的步伐有所放缓，国际热钱流入的压力也将逐渐趋于平和。

Obama is more moderate on the issue of the RMB exchange rate , which means that , for the Chinese monetary policies , there will be a smaller pressure on the RMB exchange rate and it also means a slowing pace of the continuous appreciation of the RMB .