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国内外两股流动性过剩叠加在一起,今年下半年或者明年,将会出现一轮新的资产价格泡沫。央行近日公布的数据显示,2009年5月中国金融机构外汇占款增长2426亿元,这一数据远远超过2009年前四个月平均1433亿元的增长,已经非常接近2007年月均2450亿元的外汇占款增长水平。考虑到与2009年4月相比,5月的贸易顺差与FDI流入均不升反降,且在5月内人民币兑美元汇率并未发生显著变化,则不难得出结
Two excess liquidity at home and abroad superimposed together in the second half of this year or next year, there will be a new round of asset price bubbles. The data released by the central bank recently showed that in May 2009, the foreign exchange reserves of Chinese financial institutions increased by 242.6 billion yuan, far exceeding the average increase of 143.3 billion yuan in the first four months of 2009 and having been very close to the average of 245 billion yuan in 2007 Yuan foreign exchange growth rate. Taking into account April compared with April 2009, the trade surplus and FDI inflows rose neither fall, and in May the RMB exchange rate against the US dollar did not change significantly, it is not difficult to come to a conclusion