Economy on healthy land, RMB to be stable

时间：2006-10-05 06:04:35

（单词翻译:单击）

Oct. 1 - China's monetary1 measures to cool its heated economy has shown signs of efficacy, and the central bank will attempt to stabilize2 the yuan's exchange rates with major world currencies, the 13-member Monetary Policy Committee said in a statement yesterday.

 

The committee, headed by Zhou Xiaochuan, governor of the People's Bank of China (PboC), said the central government's macro-economic control measures have begun to curb3 the runaway4 growth of some overheated industrial sectors5.

 

While the market is expected to continue playing a fundamental role in setting the value of the yuan, also called RMB, its value will be maintained basically stable and at a reasonable and balanced level, the statement said, which was posted on the website of PBoC, the central bank.

 

Partially6 attributed to the high-profile visit to Beijing of US Treasury7 Secretary Henry Paulson, who has persuaded two US senators to drop the threat of imposing8 punitive9 tariffs10 on Chinese goods, the yuan's value has risen by remarkable11 grounds against the US dollar. It traded at around 7.90 to 1 US dollar on Friday.

 

Market analysts12 predict that the yuan will continue to gain in value against major world currencies in the coming months, though by a moderate step-by-step pace. The Monetary Policy Committee is concerned that big swings of up or down in the yuan value will jeopardize13 China¡¯s financial system, which is considered harmful for China's economy and other major world economies.

 

The committee said China needs to keep on implementing14 a variety of monetary policies in order to curb the sharp growth of loans and maintain a stable financial situation.

 

It also picked the irrational15 economic structures, pressure on the environment and resources, and the imbalance of international payments, as major problems threatening China's economy. It suggested the central government maintain the continuity and stability of the macro-control policies to expand domestic demand, and improve investment structures.

 

The central bank is likely to further increase commercial banks' reserve ratio to absorb excessive funds from the economy, some analysts said. The bank twice this year raised the ratio of the money that the commercial lenders need to set aside as reserve to slow credit.

 

The State Council, China's top governing body, has also suspended provincial16 investment projects and cut export rebates17 to prevent overheating in its economy which expanded by 11 percent in the first half year ending June.

 

The National Development and Reform Commission, China's top state planning agency, on Aug. 1 ordered provincial governments and local councils to review all investment projects and cancel those that didn't meet industrial, land, credit and environmental regulations.

 

The government of eastern China's Jiangsu province suspended 27 new projects last month for failing to meet the rules.

 

China's August monthly investment growth fell to 21.5 percent, the lowest level this year, down from 27.4 percent in July, because of the government's curbs18, the country's statistics commissioner19 Qiu Xiaohua said.

 
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1 monetary pEkxb     
adj.货币的，钱的；通货的；金融的；财政的
参考例句：
  • The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
  • Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。
2 stabilize PvuwZ     
vt.（使）稳定，使稳固，使稳定平衡；vi.稳定
参考例句：
  • They are eager to stabilize currencies.他们急于稳定货币。
  • His blood pressure tended to stabilize.他的血压趋向稳定。
3 curb LmRyy     
n.场外证券市场，场外交易；vt.制止，抑制
参考例句：
  • I could not curb my anger.我按捺不住我的愤怒。
  • You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。
4 runaway jD4y5     
n.逃走的人，逃亡，亡命者；adj.逃亡的，逃走的
参考例句：
  • The police have not found the runaway to date.警察迄今没抓到逃犯。
  • He was praised for bringing up the runaway horse.他勒住了脱缰之马受到了表扬。
5 sectors 218ffb34fa5fb6bc1691e90cd45ad627     
n.部门( sector的名词复数 )；领域；防御地区；扇形
参考例句：
  • Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
  • Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》
6 partially yL7xm     
adv.部分地，从某些方面讲
参考例句：
  • The door was partially concealed by the drapes.门有一部分被门帘遮住了。
  • The police managed to restore calm and the curfew was partially lifted.警方设法恢复了平静，宵禁部分解除。
7 treasury 7GeyP     
n.宝库；国库，金库；文库
参考例句：
  • The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
  • This book is a treasury of useful information.这本书是有价值的信息宝库。
8 imposing 8q9zcB     
adj.使人难忘的，壮丽的，堂皇的，雄伟的
参考例句：
  • The fortress is an imposing building.这座城堡是一座宏伟的建筑。
  • He has lost his imposing appearance.他已失去堂堂仪表。
9 punitive utey6     
adj.惩罚的，刑罚的
参考例句：
  • They took punitive measures against the whole gang.他们对整帮人采取惩罚性措施。
  • The punitive tariff was imposed to discourage tire imports from China.该惩罚性关税的征收是用以限制中国轮胎进口的措施。
10 tariffs a7eb9a3f31e3d6290c240675a80156ec     
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
参考例句：
  • British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
  • The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。
11 remarkable 8Vbx6     
adj.显著的，异常的，非凡的，值得注意的
参考例句：
  • She has made remarkable headway in her writing skills.她在写作技巧方面有了长足进步。
  • These cars are remarkable for the quietness of their engines.这些汽车因发动机没有噪音而不同凡响。
12 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。
13 jeopardize s3Qxd     
vt.危及，损害
参考例句：
  • Overworking can jeopardize your health.工作过量可能会危及你的健康。
  • If you are rude to the boss it may jeopardize your chances of success.如果你对上司无礼，那就可能断送你成功的机会。
14 implementing be68540dfa000a0fb38be40d32259215     
v.实现( implement的现在分词 )；执行；贯彻；使生效
参考例句：
  • -- Implementing a comprehensive drug control strategy. ――实行综合治理的禁毒战略。 来自汉英非文学 - 白皮书
  • He was in no hurry about implementing his unshakable principle. 他并不急于实行他那不可动摇的原则。 来自辞典例句
15 irrational UaDzl     
adj.无理性的，失去理性的
参考例句：
  • After taking the drug she became completely irrational.她在吸毒后变得完全失去了理性。
  • There are also signs of irrational exuberance among some investors.在某些投资者中是存在非理性繁荣的征象的。
16 provincial Nt8ye     
adj.省的，地方的；n．外省人，乡下人
参考例句：
  • City dwellers think country folk have provincial attitudes.城里人以为乡下人思想迂腐。
  • Two leading cadres came down from the provincial capital yesterday.昨天从省里下来了两位领导干部。
17 rebates 5862cab7436152bb9726585397fb1db9     
n.退还款( rebate的名词复数 )；回扣；返还（退还的部份货价）；折扣
参考例句：
  • The VAT system offers advantages, such as rebates on exports. 增值税有其优点，如对出口商品实行回扣。 来自辞典例句
  • In more recent years rate rebates have been introduced for households. 近年地方税的减免已适用于家庭。 来自辞典例句
18 curbs 33e58ba55cb8445083b74c118601eb9a     
v.限制，克制，抑制( curb的第三人称单数 )
参考例句：
  • In executing his functions he is not bound by any legal curbs on his power. 在他履行职务时，他的权力是不受任何法律约束的。 来自辞典例句
  • Curbs on air travel were being worked out and would shortly be announced. 限制航空旅行的有关规定正在拟定中，不久即将公布。 来自辞典例句
19 commissioner gq3zX     
n.（政府厅、局、处等部门）专员，长官，委员
参考例句：
  • The commissioner has issued a warrant for her arrest.专员发出了对她的逮捕令。
  • He was tapped for police commissioner.他被任命为警务处长。

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