China working hard to crack down underground banks

时间：2007-09-17 01:26:16

（单词翻译:单击）

Chinanews, Beijing, Sept 16 –The State Administration of Foreign Exchange (SAFE) has been working with public security institutions to jointly1 fight against illegal foreign exchange transactions and crack down underground banks, said Xu Mangang, head of the Management and Inspection2 Department under SAFE, on Thursday.

 

From January 2005 to August 2007, SAFE had worked with police to destroy more than 120 underground banks and venues3 for illegal foreign exchange transactions. During the campaign, police had confiscated4 93 million yuan of cash and frozen 2,800 credit cards and bank accounts with a total assets value reaching 230 million yuan. Police arrested 320 suspects and imposed fines exceeding 50 million yuan, Xu said.

 

Earlier, SAFE announced that by working with local police, SAFE's Shenzhen branch had uncovered a large underground bank. Six suspects were arrested on the site and police froze 55 bank accounts with a total assets value reaching 4.2 million yuan. Since 2006, the underground bank has transacted5 4.3 billion yuan of money, some of the money even coming from some well-known state-owned companies, the police said.

 

At present, about 300 billion US dollars of hot money have flowed into China through underground banks or other illegal channels. Most of the money have flowed into the real estate market in Shenzhen, Guangzhou and Shanghai, pushing up the housing prices in these large cities, according to a recent report issued by Li Zhihuan, vice6 director of the Industrial and Economic Research Institute under the Guangdong Provincial7 Academy of Social Sciences, who recently led a research team to investigate the hot money flow in China's southern region.

 
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1 jointly jp9zvS     
ad.联合地，共同地
参考例句：
  • Tenants are jointly and severally liable for payment of the rent. 租金由承租人共同且分别承担。
  • She owns the house jointly with her husband. 她和丈夫共同拥有这所房子。
2 inspection y6TxG     
n.检查，审查，检阅
参考例句：
  • On random inspection the meat was found to be bad.经抽查，发现肉变质了。
  • The soldiers lined up for their daily inspection by their officers.士兵们列队接受军官的日常检阅。
3 venues c277c9611f0a0f19beb3658245ac305f     
n.聚集地点( venue的名词复数 )；会场；（尤指）体育比赛场所；犯罪地点
参考例句：
  • The band will be playing at 20 different venues on their UK tour. 这个乐队在英国巡回演出期间将在20个不同的地点演出。
  • Farmers market corner, 800 meters long, 60 meters wide livestock trading venues. 农牧市场东北角，有长800米，宽60米的牲畜交易场地。 来自互联网
4 confiscated b8af45cb6ba964fa52504a6126c35855     
没收，充公( confiscate的过去式和过去分词 )
参考例句：
  • Their land was confiscated after the war. 他们的土地在战后被没收。
  • The customs officer confiscated the smuggled goods. 海关官员没收了走私品。
5 transacted 94d902fd02a93fefd0cc771cd66077bc     
v.办理（业务等）( transact的过去式和过去分词 )；交易，谈判
参考例句：
  • We transacted business with the firm. 我们和这家公司交易。 来自《简明英汉词典》
  • Major Pendennis transacted his benevolence by deputy and by post. 潘登尼斯少校依靠代理人和邮局，实施着他的仁爱之心。 来自辞典例句
6 vice NU0zQ     
n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的
参考例句：
  • He guarded himself against vice.他避免染上坏习惯。
  • They are sunk in the depth of vice.他们堕入了罪恶的深渊。
7 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。

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