Central bank: China to further rein in credit growth

时间：2007-09-29 06:32:38

（单词翻译:单击）

BEIJING, Sept. 29 - The policy makers1 of China's central bank said at their third quarterly meeting that the country should carry out "moderately tightening2" monetary3 policies to further rein4 in credit growth.

 

They said the central bank should coordinate5 the adjustments of interest rates and exchange rates and step up controls over the liquidity6 within the nation's banking7 system to maintain "rational" growth of lending.

 

The policy makers suggested a close watch on the potential impact of the U.S. subprime crisis to the Chinese financial market despite the nation's economy being "generally stable".

 

Increasing inflationary risks and rising assets prices have added to the problems of excess investment growth and widening trade surplus, they said.

 

The central bank should carry out studies on the problems to find a solution and "improve the quality of China's economic growth", said the policy makers.

 

China's commercial banks are entering a high risk period for increasing housing mortgage loans, according to a report released by the China Construction Bank (CCB), the country's second largest commercial lender.

 

The banks could face a rapid rise in mortgage delinquency rates because of the frequent lending rate hikes and cheating in housing mortgage loans, the report stated.

 

China has raised the benchmark one-year lending rate five times this year amid efforts to curb8 investment growth and cool the overheated economy.

 

Meanwhile, some mortgage recipients9 had cheated on their applications and invested their funds in the stock markets, which had more than doubled in value since the beginning of the year. Analysts10 believe a drop in the markets could result in more bad loans.

 

China's central bank vice11 governor Wu Xiaoling warned commercial banks not to sacrifice credit control for high profits earlier this month

 

Statistics show new loans totaling 3.08 trillion yuan (409.6 billion U.S. dollars) were approved in the first eight months this year, and the figure is close to the total loans of 3.18 trillion yuan (422.9 billion U.S. dollars) for 2006.

 
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1 makers 22a4efff03ac42c1785d09a48313d352     
n.制造者，制造商（maker的复数形式）
参考例句：
  • The makers of the product assured us that there had been no sacrifice of quality. 这一产品的制造商向我们保证说他们没有牺牲质量。
  • The makers are about to launch out a new product. 制造商们马上要生产一种新产品。 来自《简明英汉词典》
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 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。
4 rein xVsxs     
n.疆绳，统治，支配；vt.以僵绳控制，统治
参考例句：
  • The horse answered to the slightest pull on the rein.只要缰绳轻轻一拉,马就作出反应。
  • He never drew rein for a moment till he reached the river.他一刻不停地一直跑到河边。
5 coordinate oohzt     
adj.同等的，协调的；n.同等者；vt.协作，协调
参考例句：
  • You must coordinate what you said with what you did.你必须使你的言行一致。
  • Maybe we can coordinate the relation of them.或许我们可以调和他们之间的关系。
6 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
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 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。
9 recipients 972af69bf73f8ad23a446a346a6f0fff     
adj.接受的；受领的；容纳的；愿意接受的n.收件人；接受者；受领者；接受器
参考例句：
  • The recipients of the prizes had their names printed in the paper. 获奖者的姓名登在报上。 来自《简明英汉词典》
  • The recipients of prizes had their names printed in the paper. 获奖者名单登在报上。 来自《现代英汉综合大词典》
10 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。
11 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。

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