{"id":83347,"date":"2026-05-29T09:11:06","date_gmt":"2026-05-29T02:11:06","guid":{"rendered":"https:\/\/hbbgroup.net\/chinese-yuan-bond-strength-prompts-rebalancing-sales-bny\/"},"modified":"2026-05-29T09:34:28","modified_gmt":"2026-05-29T02:34:28","slug":"nhan-dan-te-trung-quoc-da-tang-cua-trai-phieu-thuc-day-hoat-dong-ban-ra-de-tai-can-bang-danh-muc-bny","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/nhan-dan-te-trung-quoc-da-tang-cua-trai-phieu-thuc-day-hoat-dong-ban-ra-de-tai-can-bang-danh-muc-bny\/","title":{"rendered":"Nh\u00e2n d\u00e2n t\u1ec7 Trung Qu\u1ed1c: \u0110\u00e0 t\u0103ng c\u1ee7a tr\u00e1i phi\u1ebfu th\u00fac \u0111\u1ea9y ho\u1ea1t \u0111\u1ed9ng b\u00e1n ra \u0111\u1ec3 t\u00e1i c\u00e2n b\u1eb1ng danh m\u1ee5c \u2013 BNY."},"content":{"rendered":"<div id=\"post-content-section\">\n<p>Geoff Yu c\u1ee7a BNY nh\u1eadn \u0111\u1ecbnh r\u1eb1ng s\u1ef1 v\u1eefng v\u00e0ng c\u1ee7a tr\u00e1i phi\u1ebfu Trung Qu\u1ed1c tr\u01b0\u1edbc l\u00e0n s\u00f3ng gia t\u0103ng k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t to\u00e0n c\u1ea7u, c\u00f9ng v\u1edbi vi\u1ec7c \u0111\u1ed3ng Nh\u00e2n d\u00e2n t\u1ec7 (CNY) \u0111\u01b0\u1ee3c mua v\u00e0o kh\u00e1 m\u1ea1nh trong th\u00e1ng n\u00e0y, \u0111ang t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho c\u00e1c ho\u1ea1t \u0111\u1ed9ng b\u00e1n ra li\u00ean quan \u0111\u1ebfn t\u00e1i c\u00e2n b\u1eb1ng danh m\u1ee5c. M\u1eb7c d\u00f9 c\u00e1c d\u1eef li\u1ec7u g\u1ea7n \u0111\u00e2y cho th\u1ea5y t\u1ed1c \u0111\u1ed9 t\u0103ng gi\u00e1 \u0111ang nhanh h\u01a1n, \u00f4ng nh\u1ea5n m\u1ea1nh r\u1eb1ng nh\u1eefng kh\u00f3 kh\u0103n kinh t\u1ebf v\u00e0 m\u1ee9c l\u00e3i su\u1ea5t ng\u1eafn h\u1ea1n th\u1ea5p k\u1ef7 l\u1ee5c v\u1eabn cho th\u1ea5y \u00e1p l\u1ef1c gi\u1ea3m ph\u00e1t k\u00e9o d\u00e0i, y\u1ebfu t\u1ed1 h\u1ed7 tr\u1ee3 cho th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu.<\/p>\n<h3>Tr\u00e1i phi\u1ebfu Trung Qu\u1ed1c th\u00fac \u0111\u1ea9y ho\u1ea1t \u0111\u1ed9ng t\u00e1i c\u00e2n b\u1eb1ng tr\u00ean th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i<\/h3>\n<p><em>&#8220;\u0110i\u1ec1u \u0111\u00e1ng ng\u1ea1c nhi\u00ean l\u00e0 CNY \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd \u0111\u1ed1i m\u1eb7t v\u1edbi \u00e1p l\u1ef1c b\u00e1n ra d\u00f9 \u0111\u00e2y l\u00e0 m\u1ed9t trong s\u1ed1 \u00edt th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu kh\u00f4ng ph\u1ea3n \u1ee9ng ti\u00eau c\u1ef1c tr\u01b0\u1edbc s\u1ef1 gia t\u0103ng m\u1ea1nh c\u1ee7a k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t to\u00e0n c\u1ea7u.&#8221;<\/em><\/p>\n<p><em>&#8220;C\u00e1c s\u1ed1 li\u1ec7u l\u1ea1m ph\u00e1t g\u1ea7n \u0111\u00e2y c\u1ee7a Trung Qu\u1ed1c c\u0169ng cho th\u1ea5y t\u1ed1c \u0111\u1ed9 t\u0103ng gi\u00e1 \u0111ang \u0111\u01b0\u1ee3c \u0111\u1ea9y nhanh, khi \u00e1p l\u1ef1c t\u1eeb chu\u1ed7i cung \u1ee9ng to\u00e0n c\u1ea7u k\u1ebft h\u1ee3p v\u1edbi s\u1ef1 ph\u1ee5c h\u1ed3i mang t\u00ednh chu k\u1ef3 c\u1ee7a n\u1ec1n kinh t\u1ebf.&#8221;<\/em><\/p>\n<p><em>&#8220;Tuy nhi\u00ean, nh\u1eefng kh\u00f3 kh\u0103n c\u1ee7a n\u1ec1n kinh t\u1ebf v\u1eabn c\u00f2n r\u1ea5t l\u1edbn, n\u1ebfu kh\u00f4ng th\u00ec ch\u00ednh ph\u1ee7 \u0111\u00e3 kh\u00f4ng ti\u1ebfp t\u1ee5c tri\u1ec3n khai m\u1ed9t chi\u1ebfn d\u1ecbch m\u1edbi nh\u1eb1m ch\u1ed1ng l\u1ea1i t\u00ecnh tr\u1ea1ng &#8216;n\u1ed9i\u5377&#8217; (anti-involution), t\u1ee9c c\u1ea1nh tranh qu\u00e1 m\u1ee9c, \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1 v\u00e0o ng\u00e0y h\u00f4m qua.&#8221;<\/em><\/p>\n<p><em>&#8220;L\u00e3i su\u1ea5t ng\u1eafn h\u1ea1n c\u0169ng \u0111\u00e3 gi\u1ea3m xu\u1ed1ng m\u1ee9c th\u1ea5p k\u1ef7 l\u1ee5c v\u00e0o th\u1ee9 Hai. T\u1ea5t c\u1ea3 nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0y \u0111\u1ec1u cho th\u1ea5y \u00e1p l\u1ef1c gi\u1ea3m ph\u00e1t v\u1eabn s\u1ebd k\u00e9o d\u00e0i v\u00e0 ti\u1ebfp t\u1ee5c h\u1ed7 tr\u1ee3 th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu.&#8221;<\/em><\/p>\n<p><em>&#8220;K\u1ebft h\u1ee3p v\u1edbi l\u01b0\u1ee3ng mua v\u00e0o CNY t\u01b0\u01a1ng \u0111\u1ed1i m\u1ea1nh trong th\u00e1ng n\u00e0y, \u0111\u1ed3ng Nh\u00e2n d\u00e2n t\u1ec7 \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd \u0111\u1ed1i m\u1eb7t v\u1edbi c\u00e1c \u0111\u1ee3t b\u00e1n ra mang t\u00ednh t\u00e1i c\u00e2n b\u1eb1ng danh m\u1ee5c th\u00f4ng qua k\u00eanh thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh (tr\u00e1i phi\u1ebfu).&#8221;<\/em><\/p>\n<p><em>(B\u00e0i vi\u1ebft n\u00e0y \u0111\u01b0\u1ee3c t\u1ea1o v\u1edbi s\u1ef1 h\u1ed7 tr\u1ee3 c\u1ee7a c\u00f4ng c\u1ee5 Tr\u00ed tu\u1ec7 Nh\u00e2n t\u1ea1o v\u00e0 \u0111\u00e3 \u0111\u01b0\u1ee3c bi\u00ean t\u1eadp vi\u00ean r\u00e0 so\u00e1t.)<\/em><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Geoff Yu c\u1ee7a BNY nh\u1eadn \u0111\u1ecbnh r\u1eb1ng s\u1ef1 v\u1eefng v\u00e0ng c\u1ee7a tr\u00e1i phi\u1ebfu Trung Qu\u1ed1c tr\u01b0\u1edbc l\u00e0n s\u00f3ng gia t\u0103ng [&hellip;]<\/p>","protected":false},"author":5,"featured_media":83348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[222],"tags":[],"class_list":["post-83347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ngoai-hoi"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/83347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=83347"}],"version-history":[{"count":1,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/83347\/revisions"}],"predecessor-version":[{"id":83416,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/83347\/revisions\/83416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/83348"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=83347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=83347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=83347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}