chapter 1 金融英语阅读

TheBankingIndustryinChinaBytheendofthechapter,studentsshouldbeabletoknowaboutthedevelopmentofthebankingindustryinChinathestructureofthecentralbankingsystemthemajortasksofthethreepolicybanksinChinaTheestablishmentofthePeople’sBankofChina(PBC)in1948markedthebeginningofanewchapterintheChinesebankinghistory.Throughhalfacenturyofevolution,Chinahasdevelopedabankingsystemasmainlyofthewhollystate-ownedcommercialbanks,whichcoexistandcooperatewithpolicybanksandjoint-equitycommercialbanksunderthesupervisionofthecentralbank.ItistheabbreviationofPeople’sBankofChina.ItisthecentralbankofChina,andisindependentofMinistryofFinanceandothergovernmentagencies.Itmaintainsacentralizedorganizationalnetworkwithbranchesandsub-branchesthroughoutthecountryfreefrominterferenceoflocalgovernments.TheyarethebackbonesofChina'sbankingsystem,whosereformhasgreatmeaningfortheeconomicreform,developmentandstability.ADBCCDBExport-ImportBankofChinaBankofCommunicationsChinaCITICBankChinaEverbrightBankHuaXiaBank1.WithPBCasthecentralbank,thecurrentbankingsysteminChinaconsistsmainlyofwhollystate-ownedcommercialbanks,whichcoexistandcooperatewithpolicybanksandjoint-equitycommercialbanksoperatingintheirrespectiveauthorizedbusinessdomains.译：现已形成以中国人民银行为中央银行，国有独资商业银行为主体，政策性银行、股份制商业银行等银行机构并存、分工协作的银行业体系。Performingascentralbankandbeingengagedincommercialbankbusiness.Specializedbanksarebanksprovidefinancialhelptoindustries,andforeigntrade.Itisaninstitutionthatprovidesfinancialservicesforitsclientsormembers.Probablythemostimportantserviceprovidedbyfinancialinstitutionsisactingasfinancialintermediaries.Foreignexchangereserves外汇储备Foreignexchangereservesaretheforeigncurrencydepositsheldbynationalbanksofdifferentnations.TheseareassetsofGovernmentswhichareheldindifferenthardcurrenciessuchasDollar,Sterling,EuroandYen.Fiscalagent财政代理Anorganization,suchasabankortrustcompany,thattakesresponsibilityforthefiscaldutiesofanunrelatedparty.Herethecentralbankactsasanagentempoweredtocollecttaxes,revenues,anddutiesonbehalfofthegovernment.Monetarybase货币基础Alsotermedthehigh-poweredmoney,usually,thecurrencyandcentralbankdepositsthattogetherprovidethebaseforthemoneysupplyunderfractionalreservebanking.Itisoftenusedasaguideforthecentralbank’smoneycontrolabilityandmonetarypolicy.Aggregatecredit总信贷TotalamountofcreditBenchmarkinterestrate基准利率Alsocalledthebaseinterestrate,theminimuminterestratethatinvestorswilldemandforinvestinginanon-Treasurysecurity.Fiscalagent财政代理Anorganization,suchasabankortrustcompany,thattakesresponsibilityforthefiscaldutiesofanunrelatedparty.Herethecentralbankactsasanagentempoweredtocollecttaxes,revenues,anddutiesonbehalfofthegovernment.2.PBCisdulyauthorizedtomanagemonetarybase,controlaggregatecreditandadjustbenchmarkinterestratesaswellasissuecurrency.译：中国人民银行掌握货币发行权、基础货币管理权、信用总量调控权和基准利率调节权。Fiscaldeficit财政赤字Thefiscaldeficitisthedifferencebetweenthegovernment’stotalexpenditureanditstotalreceipts(excludingborrowing).Thefiscaldeficitcanbefinancedbyborrowingfromthecentralbank(whichisalsocalleddeficitfinancingormoneycreation)andmarketborrowing(fromthemoneymarket,thatismainlyfrombanks).指银行的营业终止以后，所保有的各种外国通货的净余额。若买入多余卖出，则呈现超买（overbought）,卖出多于买入，则呈现超卖（oversold）.买卖相抵后没有余额者，称为均衡部位（equilibriumposition）Breakeven收支相抵、损益两平makeneitherprofitnorlossLendingfacilities贷款工具3.Placingpriorityonbotheconomicefficiencyandsocialbenefits,thepolicybanksoperateintheirdesignatedareasandarenotexpectedtocompetewithcommercialbanks.Theirbasicoperationalfinancialgoalistobreakevenandonlytomakesmallprofitswhenconditionsallow.译：政策性银行注重经济效益与社会效益的结合，在特定的服务领域经营，不与商业银行竞争。银行经营管理基本目标是保本微利。TheStateDevelopmentBank(ChinaDevelopmentBank)Maintasks:-providelong-termloanstokeystateconstructionprojects;-providepolicy-relatedloansandinterestsubsidiestopriorityprojects;-adjustthetotalamountandthestructureoffixed-assetinvestmenttoimproveinvestmentefficiency.4.ThepotentialrecipientsoftheStateDevelopmentBank’screditaremainlythoselargeprojectsthataredesignedtoalleviatethebottlenecksintheeconomy,operateintheleadingindustriesorextendtheapplicationofadvancedtechnologyaswellasthoseinter-regionalpolicy-basedprojects.译：国有发展银行的信贷主要用于那些大型项目的建设，如缓解制约经济发展的“瓶颈”项目、支柱产业项目、高新技术在经济领域应用的项目、跨地区的政策性项目等。TheAgriculturalDevelopmentBankofChinaMainbusinessline-provideloansformaintainingcommodityreserves;-provideloansforprocurementanddistributionofmajoragriculturalproducts-provideloansforpovertyalleviationanddevelopmentprojectsPriorityconstruction重点建设：keyconstructionFixed-assetinvestment固定资产投资TheExport-ImportBankMaintasks:-provideexportcreditandloanstoencourageexportsuchasmachinery,electronicproducts,andequipmentforcompleteplants.5.TheExport-ImportBankofChinaprovidesexportcreditandrelatedloanstoencourageexportofsuchgoodsasmachinery,electronicproducts,andequipmentforcompleteplants.Itsservicesincludeexportcreditinsuranceandguaranteeaswellasthoseaimedatfacilitatingeconomicandtechnicalcooperation.译：中国进出口银行为机电产品和成套设备等提供出口信贷和有关贷款。业务还包括办理出口信用保险和担保，以及为经济和技术合作提供金融服务。ThemainfunctionsofCBRC:Formulatesupervisoryrulesandregulation