新华社在一篇评论文章中称,随着中国央行采取措施来稳定人民币汇率,一些试图做空人民币的“激进”投机客将遭遇巨大损失。
鲁莽投机和恶意做空将面临更高的交易成本甚至可能是严重的法律后果,中国政府试图改善市场监管机制和法律体系。
中国政府拥有充足的资源和政策工具来确保经济形势处于控制之下,并且应对任何外部挑战。
该评论来自最新刊发的新华社英文评论,结尾部分强调做空人民币的投机客将遭遇巨大损失,受到法律严惩。
以下为新华社全文:
Commentary:Chineseeconomictransitiontestingglobalinvestors'wisdom,courage
Jan.22,2016(Xinhua)--AstheChineseeconomyisundergoingprofoundrestructuringandtransition,internationalinvestorsseemtobesplitintheirjudgmentabouttheprospectsforChina'scapitalmarket.
SomepeoplebelievethattheChinesecapitalmarketisexperiencingamajorcrisis,ofwhichtheytrytotakeadvantagewithspeculativeactionsandevenviciousshortingactivities.
ThelatestexampleisthatsomeradicalspeculatorstriedtoshortselltheChinesecurrencyyuan,whichhasbeendepreciatingagainsttheU.S.dollarrecently.However,withtheChinesemonetaryauthoritytakingeffectivemeasurestostabilizethevalueoftheyuan,thosespeculatorsareexpectedtosufferhugelosses.
Meanwhile,manyotherinvestorsseenewopportunitiesinthetransformationoftheChineseeconomy.
AccordingtodatafromtheLondon-basedconsultingfirmPreqinLtd,in2015,globalventurecapitalmade1,555investmentsinChina'sstartupswithatotalworthof37billionU.S.dollars,up147percentoverthepreviousyear,showingtheinvestors'confidenceinChina'spro-innovationpolicyandbusiness-friendlyenvironment.
Inamaturemarketeconomy,bothspeculativeshortingandlong-terminvestmentarefreechoicesofinvestors,andthereforeshouldnotbelabeledas"rightorwrong"or"goodorbad."
ButgiventheuniquenatureoftheChineseeconomy,currentlytheworld'ssecondlargest,itshouldbefairtosaythatthechoicesmadeonChinaoftenreflectaninvestor'swisdomandcourage.
AsanoldChinesesayinggoes:Tocatchabigfish,onemustcastalongline.TheancientChinesewisdomfitsthecurrentChineseeconomicsituationwell.
ManyleadingeconomistsandscholarshavepointedoutthatwhileChina'seconomicrestructuringisachallengingandarduousmissionandthetransitionalperiodcouldbelengthyandpainful,Chinaisatnoriskofarecessionandthecurrent6.9percenteconomicgrowthrateisstillgoodenoughtosustainthecountry'slong-termprosperity.
Meanwhile,withtheChinesegovernmentactivelypushingforwardaseriesoffundamentalreformsandsupportinginnovation-basedbusinessstartups,bothdomesticentrepreneursandforeigninvestorsareexpectedtobenefitfromtheeconomicrestructuringprocess.
Forexample,thegovernmenthassparednoeffortstocutexcessiveproductioncapacity,boostdomesticconsumptionandencouragethedevelopmentoftheservicesector.Ithasalsograntedmoremarketaccesstoprivatecapitalandforeigninvestment.
ThelatestreportfromtheAmericanChamberofCommerceinChinashowedthatlastyearnearlytwothirdsofitsmembercompaniesmadeprofitinChina,andthreequarterssawgoodinvestmentreturns.ThereportalsofoundthatmostofthemembercompanieswereoptimisticaboutthefuturegrowthoftheChinesemarket,andover90percentofthemviewedinnovationasthekeytotheirfuturesuccessinChina.
Asmart,far-sightedinvestorwouldseizetheopportunityarisingfromChina'seconomicrestructuring,andachieveawin-winoutcomebyinvestinginChina'sfutureandreapingthefruitsofChina'sreformandrobustneweconomy.
Asforthosewhowanttobetonthe"ultimatefailure"oftheChineseeconomy,theyshouldlookbackatthepastfourdecades,whichwitnessedChina'sgrowthfromanunderdevelopedeconomyintoaglobaleconomicpowerhousethroughcontinuousreformandopeningup.
TheyshouldalsotakeintoconsiderationthefactthattheChinesegovernmenthasbeenconstantlyimprovingthecountry'smarketregulatorysystemandlegalsystem.Asaresult,recklessspeculationsandviciousshortingwillfacehighertradingcostsandpossiblyseverelegalconsequences.
Andjustasprovedintheyuanexchangeratecase,theChinesegovernmenthassufficientresourcesandpolicytoolstokeeptheoveralleconomicsituationundercontrolandcopewithanyexternalchallenges.