chapter 1 金融英語閱讀

1、The Banking Industry in ChinaBy the end of the chapter, students should be able to know about the development of the banking industry in China the structure of the central banking system the major tasks of the three policy banks in China The establishment of the Peoples Bank of China (PBC) in 1948 m

2、arked the beginning of a new chapter in the Chinese banking history. Through half a century of evolution, China has developed a banking system as mainly of the wholly state-owned commercial banks, which coexist and cooperate with policy banks and joint-equity commercial banks under the supervision o

3、f the central bank.It is the abbreviation of Peoples Bank of China. It is the central bank of China, and is independent of Ministry of Finance and other government agencies.It maintains a centralized organizational network with branches and sub-branches throughout the country free from interference

4、of local governments.They are the backbones of Chinas banking system, whose reform has great meaning for the economic reform, development and stability. ADBCCDB Export-Import Bank of ChinaBank of CommunicationsChina CITIC BankChina Everbright BankHua Xia Bank1.With PBC as the central bank, the curre

5、nt banking system in China consists mainly of wholly state-owned commercial banks, which coexist and cooperate with policy banks and joint-equity commercial banks operating in their respective authorized business domains.譯：現(xiàn)已形成以中國人民銀行為中央銀行，國有獨資商業(yè)銀行為主體，政策性銀行、股份制商業(yè)銀行等銀行機構(gòu)并存、分工協(xié)作的銀行業(yè)體系。Performing as ce

6、ntral bank and being engaged in commercial bank business.Specialized banks are banks provide financial help to industries, and foreign trade.It is an institution that provides financial services for its clients or members. Probably the most important service provided by financial institutions is act

7、ing as financial intermediaries.Foreign exchange reserves 外匯儲備 Foreign exchange reserves are the foreign currency deposits held by national banks of different nations. These are assets of Governments which are held in different hard currencies such as Dollar, Sterling, Euro and Yen.Fiscal agent 財政代理

8、 An organization, such as a bank or trust company, that takes responsibility for the fiscal duties of an unrelated party. Here the central bank acts as an agent empowered to collect taxes, revenues, and duties on behalf of the government.Monetary base 貨幣基礎(chǔ) Also termed the high-powered money, usually

9、, the currency and central bank deposits that together provide the base for the money supply under fractional reserve banking. It is often used as a guide for the central banks money control ability and monetary policy.Aggregate credit 總信貸 Total amount of creditBenchmark interest rate 基準(zhǔn)利率 Also call

10、ed the base interest rate, the minimum interest rate that investors will demand for investing in a non-Treasury security.Fiscal agent 財政代理 An organization, such as a bank or trust company, that takes responsibility for the fiscal duties of an unrelated party. Here the central bank acts as an agent e

11、mpowered to collect taxes, revenues, and duties on behalf of the government.2. PBC is duly authorized to manage monetary base, control aggregate credit and adjust benchmark interest rates as well as issue currency.譯：中國人民銀行掌握貨幣發(fā)行權(quán)、基礎(chǔ)貨幣管理權(quán)、信用總量調(diào)控權(quán)和基準(zhǔn)利率調(diào)節(jié)權(quán)。Fiscal deficit 財政赤字 The fiscal deficit is the

12、difference between the governments total expenditure and its total receipts (excluding borrowing). The fiscal deficit can be financed by borrowing from the central bank (which is also called deficit financing or money creation) and market borrowing (from the money market, that is mainly from banks).

13、指銀行的營業(yè)終止以后，所保有的各種外國通貨的凈余額。若買入多余賣出，則呈現(xiàn)超買 （overbought）, 賣出多于買入， 則呈現(xiàn)超賣 （oversold）.買賣相抵后沒有余額者，稱為均衡部位 （equilibrium position）Break even 收支相抵、損益兩平 make neither profit nor lossLending facilities 貸款工具3.Placing priority on both economic efficiency and social benefits, the policy banks operate in their designa

14、ted areas and are not expected to compete with commercial banks. Their basic operational financial goal is to break even and only to make small profits when conditions allow.譯：政策性銀行注重經(jīng)濟效益與社會效益的結(jié)合，在特定的服務(wù)領(lǐng)域經(jīng)營，不與商業(yè)銀行競爭。銀行經(jīng)營管理基本目標(biāo)是保本微利。The State Development Bank (China Development Bank) Main tasks: -pro

15、vide long-term loans to key state construction projects; -provide policy-related loans and interest subsidies to priority projects; -adjust the total amount and the structure of fixed-asset investment to improve investment efficiency. 4. The potential recipients of the State Development Banks credit

16、 are mainly those large projects that are designed to alleviate the bottlenecks in the economy, operate in the leading industries or extend the application of advanced technology as well as those inter-regional policy-based projects.譯：國有發(fā)展銀行的信貸主要用于那些大型項目的建設(shè)，如緩解制約經(jīng)濟發(fā)展的“瓶頸”項目、支柱產(chǎn)業(yè)項目、高新技術(shù)在經(jīng)濟領(lǐng)域應(yīng)用的項目、跨地區(qū)

17、的政策性項目等。The Agricultural Development Bank of ChinaMain business line -provide loans for maintaining commodity reserves; -provide loans for procurement and distribution of major agricultural products -provide loans for poverty alleviation and development projectsPriority construction 重點建設(shè)：key constru

18、ctionFixed-asset investment 固定資產(chǎn)投資The Export-Import BankMain tasks: -provide export credit and loans to encourage export such as machinery, electronic products, and equipment for complete plants.5. The Export-Import Bank of China provides export credit and related loans to encourage export of such g

19、oods as machinery, electronic products, and equipment for complete plants. Its services include export credit insurance and guarantee as well as those aimed at facilitating economic and technical cooperation.譯：中國進出口銀行為機電產(chǎn)品和成套設(shè)備等提供出口信貸和有關(guān)貸款。業(yè)務(wù)還包括辦理出口信用保險和擔(dān)保，以及為經(jīng)濟和技術(shù)合作提供金融服務(wù)。The main functions of CBRC

20、:lFormulate supervisory rules and regulations governing the banking institutions;lAuthorize the establishment, changes, termination and business scope of the banking institutions;lConduct on-site examination and off-site surveillance of the banking institutions, and take enforcement actions against

21、rule-breaking behaviors;lConduct fit-and proper tests on the senior managerial personnel of the banking institutions;lCompile and publish statistics and reports of the overall banking industry in accordance with relevant regulations;lProvide proposals on the resolution of problem deposit-taking inst

22、itutions in consultation with relevant regulatory authorities;lResponsible for the administration of the supervisory boards of the major State-owned banking institutions; and other functions delegated by the State CouncilThe regulatory objectives of CBRC:Protect the interests of depositors and consu

23、mers through prudential and effective supervision;Maintain market confidence through prudential and effective supervision;Enhance public knowledge of modern finance though customer education and information disclosure;Combat financial crimes. Refers to the reinforcement of the functions in relation to monetary policy.Refers to the shift in the manner in which the PBC exercises the financial macro-control and maintaining financial stability functions.Refers to two additional functions assigned to the PBC, namely,