政府支持下中国的外汇储备依然高于3万亿美元

China’s foreign currency holdings remained above $3trillion in December even as the yuan capped itssteepest annual decline in more than two decades.

即使今年中国的外汇储备处于最近20多年以来的最大幅度下跌中，12月仍然维持在3万亿美元之上。

Reserves fell $41.08 billion to $3.01 trillion thePeople’s Bank of China said in a statementSaturday. That matched a $3.01 trillion estimate in aBloomberg survey of economists.

据中国人民银行周六发布的一份声明中说，外汇储备下跌了410.8亿美元，至3.01万亿美元。这和彭博面对经济学家的调查得出的预测值3.01万亿相吻合。

China may take measures to keep its foreign-currency stockpile from slipping too far below thekey $3 trillion mark to avoid hurting investor confidence and spurring further declines in theyuan according to economists at major banks. Policy makers have recently rolled outextrarequirements for citizens converting yuan into other currencies after the annual $50000 quotafor individuals reset Jan. 1.

据主要银行的经济学家称，中国可能将采取手段来控制其外汇储备不大大低于关键的3万亿的指标，以避免伤害投资者的投资信心以及刺激人民币的进一步下跌。政策制定者们最近出台了1月1日后对居民个人每年5万美元的购汇额度增加额外限制的规定。

“China’s government is well positioned to control outflows more effectively if it wants tothough it may not want to be seen as reversing China’s ‘opening’ strategy” Wang Tao head ofChina economic research at UBS Group AG in Hong Kong wrote in a recent note. “In the longrun it may not have much choice if FX reserves fall more sharply on the back of intensifyingcapital outflow pressures.”

瑞士银行在香港的首席中国经济学家王涛日前表示：“中国政府只要想操作，完全可以更有效的控制货币流出，只是担心这会颠覆中国的”开放性战略“的形象。从长期来说，如果在货币流出压力剧增的背景下，外汇储备恐怕会下跌得更厉害，届时也没有什么好的办法来应对。”

The decline of foreign exchange reserves in December was mainly because the central banksupplied funds to maintain balance in the foreign exchange market and the depreciation ofnon-U.S. dollar currencies the State Administration of Foreign Exchange said in a separatestatement on Saturday. For the full year of 2016 the SAFE said the central bank’s effort tostabilize the yuan was the key reason for the drop in reserves.

周六国家外汇管理局在一份独立声明中表示，12月外汇储备的下跌主要是因为央行在外汇交易市场放水稳定汇率，以及非美元货币贬值。对于2016年全年来说，国家外汇管理局表示央行试图稳定人民币汇率的努力是造成外汇储备缩水的主要原因。

“The combination of policy-induced yuan stabilization and higher reporting requirements forhouseholds buying FX will buy the PBOC a little breathing room preventing escalating outflows inthe first month of the year” Tom Orlik chief Asia economist at Bloomberg Intelligence in Beijingwrote in a note.

位于北京的彭博智库的亚洲首席经济学家Tom Orlic表示：“受政策驱动的稳定人民币操作以及对家庭购买外汇提高申报要求的共同影响，央行在今年1月试图阻止货币加速流出的操作空间就变得非常小。”