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(单词翻译)
开放与风险管控
The Central Economic Working Conference, which maps out the economic work for the next year, has suggested the country's policy toward international trade needs to be opened up further.
Specifically, it calls for increasing imports by cutting tariffs1 on some products, while at the same time, raising the product quality on goods being exported from China.
Huo Jianguo with the Chinese Academy of International Trade and Economic Cooperation says this forms a foundation for China's international trade policies.
"Previously2 we only mentioned a policy that requests using imports to drive exports, but it doesn't equal an overall trade policy. However this time I see it as a prototype of a unified3 trade policy for China. That is to say we set a tone for international trade, which requires higher competitiveness of our exported goods and, at the same time, an expansion of imports, with the ultimate goal of balancing exports and imports."
As part of the sessions, central authorities have announced plans to lower the threshold for foreign funds to enter the financial sector4, allowing foreign institutions to invest in Chinese bonds, insurance and banks.
Zong Liang is a chief researcher with the Bank of China.
"On one hand opening up in financial sector must be adapted to the country's economic development. On the other, its goal is to build a new business environment, to let China become a global business hub. What should this environment look like? It would let foreign companies come to China under the expectations that they're going to make more money and make their businesses better off."
Controlling systemic risk is also a major concern.
Steps have been taken through this year to try to root out systemic risks to the financial markets, including curbs5 on capital flight and tighter regulations on how companies generate financing.
Yi Gang, vice6 governor of the People's Bank of China, says they plan to keep this trend up in the coming few years.
"We will strengthen supervision7 on financial products with new standards. All financial companies and their products must be licensed8; unlicensed businesses will be banned. Meanwhile, we're going to keep an eye on companies which have a range of services, including financial components9. We will prevent irrational10 financing and crack down illegal fund raising activities."
The growth of defecits across China has begun to slow through this year.
Paul Sheard, chief economist11 for S&P Global, suggests that authorities should focus on transparency when handling debt issues.
"China needs to figure out ways of dealing12 with that and making sure it doesn't become a destabilizing influence. Perhaps, when it comes to local government finances, one thing which could probably going a long way, is greater transparency about exactly what the plumbing13 is, and what the assets are, and so the outside world, including even the Chinese government itself, the central government, gets better visibility into what exactly is going on."
It's also being suggested that central authorities are potentially moving to stop underwriting any local government debt, make the local governments solely14 responsible for the debt they wreck15 up.
1 tariffs | |
关税制度; 关税( tariff的名词复数 ); 关税表; (旅馆或饭店等的)收费表; 量刑标准 | |
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2 previously | |
adv.以前,先前(地) | |
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3 unified | |
(unify 的过去式和过去分词); 统一的; 统一标准的; 一元化的 | |
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4 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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5 curbs | |
v.限制,克制,抑制( curb的第三人称单数 ) | |
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6 vice | |
n.坏事;恶习;[pl.]台钳,老虎钳;adj.副的 | |
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7 supervision | |
n.监督,管理 | |
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8 licensed | |
adj.得到许可的v.许可,颁发执照(license的过去式和过去分词) | |
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9 components | |
(机器、设备等的)构成要素,零件,成分; 成分( component的名词复数 ); [物理化学]组分; [数学]分量; (混合物的)组成部分 | |
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10 irrational | |
adj.无理性的,失去理性的 | |
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11 economist | |
n.经济学家,经济专家,节俭的人 | |
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12 dealing | |
n.经商方法,待人态度 | |
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13 plumbing | |
n.水管装置;水暖工的工作;管道工程v.用铅锤测量(plumb的现在分词);探究 | |
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14 solely | |
adv.仅仅,唯一地 | |
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15 wreck | |
n.失事,遇难;沉船;vt.(船等)失事,遇难 | |
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