China: safeguard global financial stability

时间：2007-10-22 08:06:56

（单词翻译:单击）

WASHINGTON, Oct. 20 -- A senior Chinese official urged the international community here on Saturday to analyze1 the root causes of the recent financial turmoil2 and to make efforts to safeguard global financial stability.

 

"Activities in the major advanced economies slowed in the second quarter of 2007, posing significant downside risks to global growth," Wu Xiaoling, deputy governor of People's Bank of China said at the 16th meeting of the International Monetary3 and Financial Committee.

 

Credit market retrenchment4 in the United States may further dampen the housing market, suppressing consumption and investment, giving rise to potential risks of recession with a spillover effect on other countries, she warned.

 

"It is all the more urgent a priority to strengthen surveillance of the systematically5 important advanced economies in order to safeguard global financial stability and economic prosperity," said the Chinese official.

 

"This round of adjustment has not yet come to an end," Wu said." Despite the major central banks' liquidity6 injection, credit conditions are unlikely to be restored within a short period of time."

 

She said it is necessary to thoroughly7 analyze the root causes of the recent financial turmoil, re-examine the role of financial innovation and the development of derivatives8 as well as the associated risks.

 

As to Chinese economy, Wu said a major task for the Chinese government is to prevent overheating.

 

"The Chinese government has taken measures to strengthen macroeconomic management, improve investment structure, increase fiscal9 expenditure10 in social sectors11, boost domestic demand, and speed up reform in the financial sector," she said.

 

In a joint12 statement issued on Friday, finance officials from the world's seven richest nations also warned that the credit crisis will hurt the economic growth.

 

"Strong global fundamentals and well-capitalized financial institutions provide a sound and resilient basis but uneven13 conditions are likely to persist for some time and will require close monitoring," they said.

 

The International Monetary Fund has warned the global economy will slow its continued expansion due to the recent financial turmoil trigged by the U.S. subprime mortgage difficulties.

 

Among the major advanced economies, the projection14 for U.S. growth in 2007 as a whole is unchanged at 1.9 percent, but has been lowered by 0.9 percentage point to 1.9 percent in 2008.

 
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1 analyze RwUzm     
vt.分析，解析 (=analyse)
参考例句：
  • We should analyze the cause and effect of this event.我们应该分析这场事变的因果。
  • The teacher tried to analyze the cause of our failure.老师设法分析我们失败的原因。
2 turmoil CKJzj     
n.骚乱，混乱，动乱
参考例句：
  • His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
  • The robbery put the village in a turmoil.抢劫使全村陷入混乱。
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 retrenchment b9930aac13e3f66539d6a4166b438a4a     
n.节省，删除
参考例句：
  • Retrenchment will be necessary. 有必要进行紧缩。 来自《现代汉英综合大词典》
  • Defense planners predict an extended period of retrenchment. 国防规划人员预计开支紧缩期会延长。 来自辞典例句
5 systematically 7qhwn     
adv.有系统地
参考例句：
  • This government has systematically run down public services since it took office.这一屆政府自上台以来系统地削减了公共服务。
  • The rainforest is being systematically destroyed.雨林正被系统地毀灭。
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 thoroughly sgmz0J     
adv.完全地，彻底地，十足地
参考例句：
  • The soil must be thoroughly turned over before planting.一定要先把土地深翻一遍再下种。
  • The soldiers have been thoroughly instructed in the care of their weapons.士兵们都系统地接受过保护武器的训练。
8 derivatives f75369b9e0ef2282b4d10e367e4ee2a9     
n.衍生性金融商品；派生物，引出物( derivative的名词复数 )；导数
参考例句：
  • Many English words are derivatives of Latin words. 许多英语词来自拉丁语。 来自《简明英汉词典》
  • These compounds are nitrosohydroxylamine derivatives. 这类合成物是亚硝基羟胺衍生物。 来自辞典例句
9 fiscal agbzf     
adj.财政的，会计的，国库的，国库岁入的
参考例句：
  • The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
  • The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。
10 expenditure XPbzM     
n.(时间、劳力、金钱等)支出；使用，消耗
参考例句：
  • The entry of all expenditure is necessary.有必要把一切开支入账。
  • The monthly expenditure of our family is four hundred dollars altogether.我们一家的开销每月共计四百元。
11 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》
12 joint m3lx4     
adj.联合的，共同的；n.关节，接合处；v.连接，贴合
参考例句：
  • I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
  • We wrote a letter in joint names.我们联名写了封信。
13 uneven akwwb     
adj.不平坦的，不规则的，不均匀的
参考例句：
  • The sidewalk is very uneven—be careful where you walk.这人行道凹凸不平—走路时请小心。
  • The country was noted for its uneven distribution of land resources.这个国家以土地资源分布不均匀出名。
14 projection 9Rzxu     
n.发射，计划，突出部分
参考例句：
  • Projection takes place with a minimum of awareness or conscious control.投射在最少的知觉或意识控制下发生。
  • The projection of increases in number of house-holds is correct.对户数增加的推算是正确的。

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