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China to boost local gov't debt clean-up

时间：2012-03-02 07:35:50

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（单词翻译）

 　　BEIJING, March 1 (Xinhua) -- China will boost the clean-up of thousands of millions of local government's debt in 2012, so to guard against possible defaults that would hurt its banks, the country's banking1 regulator said Thursday.

　　The country will focus on cleaning up old loans made to local government financing vehicles (LGFV) while tightening2 new debt issues and raising cash to debt coverage3 ratios, China Banking Regulatory Commission (CBRC) said on its website.
　　The CBRC will strictly4 control the use of LGFV loans, while giving priority to key projects that are under construction, it said.
　　The regulator will also improve risk monitoring and reclassify LGFV loans to relieve pressure from banks.
　　Local government debts had risen to 10.72 trillion yuan (1.7 trillion U.S. dollars) by the end of 2010, accounting5 for about 26.9 percent of China's gross domestic product, according to data released by the National Audit6 Office.
　　Analysts7 fret8 that if a certain proportion of the loans have gone sour, it will push up non-performing loan ratios in the banking industry and threaten banks' credit ratings.
　　Local governments typically invested the money they borrowed in building infrastructure9. They also faced huge repayment10 pressure in 2011 and now also in 2012.
　　China's banks had 9.1 trillion yuan of outstanding loans issued to LGFV as of Sept. 30, 2011, the Shanghai Securities News reported last month, saying at least 65 percent of these loans were fully11 covered by cash flows.
　　The nation's local government debt is overall safe and controllable, Premier12 Wen Jiabao said in the country's financial work conference at the beginning of this year.
　　Revenues and expenditures13 via the LGFV will be included in the government's budget management while a mechanism14 will be established to control the gross local government debts through a risk-warning arrangement, Wen said.

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1 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
2 tightening 19aa014b47fbdfbc013e5abf18b64642     
上紧，固定，紧密
参考例句：
  • Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
  • It needs tightening up a little. 它还需要再收紧些。
3 coverage nvwz7v     
n.报导，保险范围，保险额，范围，覆盖
参考例句：
  • There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
  • This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。
4 strictly GtNwe     
adv.严厉地，严格地；严密地
参考例句：
  • His doctor is dieting him strictly.他的医生严格规定他的饮食。
  • The guests were seated strictly in order of precedence.客人严格按照地位高低就座。
5 accounting nzSzsY     
n.会计，会计学，借贷对照表
参考例句：
  • A job fell vacant in the accounting department.财会部出现了一个空缺。
  • There's an accounting error in this entry.这笔账目里有差错。
6 audit wuGzw     
v.审计；查帐；核对；旁听
参考例句：
  • Each year they audit our accounts and certify them as being true and fair.他们每年对我们进行账务审核，以确保其真实无误。
  • As usual,the yearly audit will take place in December.跟往常一样，年度审计将在十二月份进行。
7 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
8 fret wftzl     
v.(使)烦恼；(使)焦急；(使)腐蚀，(使)磨损
参考例句：
  • Don't fret.We'll get there on time.别着急，我们能准时到那里。
  • She'll fret herself to death one of these days.她总有一天会愁死的.
9 infrastructure UbBz5     
n.下部构造，下部组织，基础结构，基础设施
参考例句：
  • We should step up the development of infrastructure for research.加强科学基础设施建设。
  • We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。
10 repayment repayment     
n.偿还，偿还款；报酬
参考例句：
  • I am entitled to a repayment for the damaged goods.我有权利索取货物损坏赔偿金。
  • The tax authorities have been harrying her for repayment.税务局一直在催她补交税款。
11 fully Gfuzd     
adv.完全地，全部地，彻底地；充分地
参考例句：
  • The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
  • They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。
12 premier R19z3     
adj.首要的；n.总理，首相
参考例句：
  • The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
  • He requested that the premier grant him an internview.他要求那位总理接见他一次。
13 expenditures 2af585403f5a51eeaa8f7b29110cc2ab     
n.花费( expenditure的名词复数 )；使用；（尤指金钱的）支出额；（精力、时间、材料等的）耗费
参考例句：
  • We have overspent.We'll have to let up our expenditures next month. 我们已经超支了，下个月一定得节约开支。 来自《简明英汉词典》
  • The pension includes an allowance of fifty pounds for traffic expenditures. 年金中包括50镑交通费补贴。 来自《简明英汉词典》
14 mechanism zCWxr     
n.机械装置；机构，结构
参考例句：
  • The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
  • The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

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