China exports will no longer affect the debt crisis

"The current debt crisis of the 'disease' heavy, life-saving first, and then complete 'cure' or 'life' is not, and the international community, including China, the 'BRIC' and even the G20 losses are great. "Securities strategist Zhejiang Yue Chun Wen told China Daily reporters. Europe has long been not just debt in the current financial problems, but also the financial problem. European debt crisis upsets the euro area financial markets and international financial market turmoil, European stock markets plunged straight, the euro currency turmoil, the euro depreciated continuously.

China's banking industry is not affected
Once again faced with the impact of exports
"If the European financial sector problems, it will inevitably affect the liquidity of the financial system in Asia, and thus will occur tight credit, lending rates between banks in Asia will soar, banks would be difficult to easily finance in the financial market, the entity economy from the financial system, which also can not get financing. This is likely to be two outcomes, one is Asian banking have gone bankrupt, another is sure to decline in the real economy, rising unemployment. "China International Economic and Exchange Center Experts Peng told China Daily reporters.
However, Peng pointed out: "as opposed to late 1990s Asian financial crisis on China's influence, this is better because the last time in Asia's own economic problems, and this is only the external reasons, so Asia's own the regulation of space is quite large, responses may be a number of relatively full. "
The escalating debt crisis, the worst affected is banking, it is fortunate that, "China's banking industry impact is not large, it can be said is negligible." China Chinese Commercial News reporters Cong Zhongguo and Yin Hang informed by the International Finance . "In addition to the Bank of China has now converted into 10 billion yuan of debt exposure in Europe, but almost no other Chinese banks."
"At present, China basically does not hold Greek government bonds, government bonds held by Italy, the Italian government bonds accounted for only 4% of the total are small-scale, direct losses minimal." Bank of China International financial side of the analyst told China Daily reporter Weihong .
"European debt crisis on China's influence is greater external demand as well as the real economy." This is the People's Bank of China, Zhengzhou University, Professor Wang Yong training point of view.
"European debt crisis on the Chinese economy, mainly in China and the EU's foreign investment and financing aspects of the damage." Yong told China Daily reporters. Although trade between China and Greece account for only a small proportion of China-EU trade, but because the EU is China's largest export market, the debt crisis continue to simmer, the euro area economy as a whole down, exports will affect the overall situation of China's future. Continuation of the debt crisis may also exacerbate the euro against the dollar and the devaluation of the RMB, the yuan exchange rate will also be an effective recovery, which in turn further affect China's exports.
Authority estimates, the euro depreciated against the U.S. dollar for every 1% short term growth rate of China's exports to Europe will decline 0.65%; if the European Union fell by 1% economic growth, China's export growth will decline by 6%.
Research Center, Fudan University, United States associate professor Songguo You also pointed out that as early as 2007, the EU had already replaced the United States to become China's largest trading partner and largest export market, China's foreign trade volume accounted for 17% of total exports and about 20%, these two indicators is higher than the United States. "China's exports, the euro against the yuan exchange rate movements than the U.S. dollar against the RMB exchange rate movements is more influential."