Finance sector should be opened steadily, expert

时间：2006-09-30 06:41:29

（单词翻译:单击）

Chinanews, Beijing, Sept. 30 – Yi Xianrong, director of the Finance Development Research Office under the Finance Institute of the Chinese Academy of Social Sciences recently published an article in the overseas edition of the People’s Daily, in which Li says that China should take a gradual approach in fully1 opening its finance sector2.

 

According to Yi, full opening of the finance sector is the basis for Chinese finance industry to further grow and develop. It is also a prerequisite3 for Chinese finance industry to be integrated into the world finance globalization. However, the condition for China to open its finance sector is different from those in Japan and South Korea, which were forced to open their finance industries under domestic financial crisis. China actively4 opens its finance industry as a way to realize its commitment to the World Trade Organization (WTO). Therefore the process will be gradual, orderly and carefully planned, instead of being prompted by external factors.

 

He points out that by opening the finance sector, China expects to introduce some advanced ideas, managing experiences, risk control mechanism5, institutions and products to boost a market-oriented economy, promote competition and reduce systematic6 risks. At the same time, China hopes to avoid the potential negative effects brought by this process, so as to create a favorable environment for domestic finance sector to further develop.

 

In his opinion, the regulation on the management of foreign banks, recently published by the China Banking7 Regulatory Commission, can serve as an example to demonstrate such steady opening. While fully respecting China’s commitment to WTO, the new regulation stipulates8 some strategic restrictions9, requiring that foreign banks only register as a legal entity10 before they can launch Renminbi business in China. China is not the first country to set these limitations. Rather, they are adopted as usual practice by many countries which have advanced market economy. While not violating China’s commitment to WTO, the restrictions will create a favorable condition for the development and supervision11 of domestic finance industry.

 
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1 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。
2 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
3 prerequisite yQCxu     
n.先决条件；adj.作为前提的，必备的
参考例句：
  • Stability and unity are a prerequisite to the four modernizations.安定团结是实现四个现代化的前提。
  • It is a prerequisite of entry to the profession that you pass the exams.做这一行的先决条件是要通过了有关的考试。
4 actively lzezni     
adv.积极地，勤奋地
参考例句：
  • During this period all the students were actively participating.在这节课中所有的学生都积极参加。
  • We are actively intervening to settle a quarrel.我们正在积极调解争执。
5 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。
6 systematic SqMwo     
adj.有系统的，有计划的，有方法的
参考例句：
  • The way he works isn't very systematic.他的工作不是很有条理。
  • The teacher made a systematic work of teaching.这个教师进行系统的教学工作。
7 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。
8 stipulates 5c9afbf42331f6dbc8e7cd0e43b34e17     
n.（尤指在协议或建议中）规定，约定，讲明（条件等）( stipulate的名词复数 )；规定，明确要求v.（尤指在协议或建议中）规定，约定，讲明（条件等）( stipulate的第三人称单数 )；规定，明确要求
参考例句：
  • The trade contract stipulates for the settlement of balances in RMB. 贸易合同规定余额以人民币结算。 来自《现代汉英综合大词典》
  • The contract stipulates for the use of seasoned timber. 合同上订明用干透的木料。 来自辞典例句
9 restrictions 81e12dac658cfd4c590486dd6f7523cf     
约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）
参考例句：
  • I found the restrictions irksome. 我对那些限制感到很烦。
  • a snaggle of restrictions 杂乱无章的种种限制
10 entity vo8xl     
n.实体，独立存在体，实际存在物
参考例句：
  • The country is no longer one political entity.这个国家不再是一个统一的政治实体了。
  • As a separate legal entity,the corporation must pay taxes.作为一个独立的法律实体，公司必须纳税。
11 supervision hr6wv     
n.监督，管理
参考例句：
  • The work was done under my supervision.这项工作是在我的监督之下完成的。
  • The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

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