China raises banks reserves to prevent rebound in lending

时间：2007-01-08 06:05:12

（单词翻译:单击）

Jan. 7 - China raised the amount of funds which lenders must hold in reserve for the fourth time since mid-June in its latest attempt to mop up excess liquidity1 derived2 from its massive balance of payments surplus.

 

According to Reuters, the People's Bank of China (PBOC) said on its Web site on Friday that banks would need to increase their required reserves by half a percentage point, effective from Jan 15.

 

“This is because of China's continued balance of payments surpluses, fresh growth in already excessive liquidity in the banking3 system, and relatively4 high pressure for more lending,” it said in a statement.

 

While recent tightening5 moves had triggered some easing in credit growth in recent months, the central bank said challenges remained in trying to bring the economy to a more sustainable footing. The central bank announced similar moves on Nov 3, July 21 and June 16 of last year.

 

The increase takes the reserve requirement to 9.5 percent for big state banks and joint-stock banks and to 10.0 percent for smaller banks, including urban credit cooperatives.

 

China's massive balance of payments surplus has been largely generated by a rapidly growing trade surplus, which hit $22.9 billion in November and is expected by many economists6 to top $175 billion in 2006, up from $102 billion in 2005, when it tripled.

 

The central bank, in an effort to hold down the yuan, buys most of the dollars resulting from the surplus.

 
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1 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。
2 derived 6cddb7353e699051a384686b6b3ff1e2     
vi.起源；由来；衍生；导出v.得到( derive的过去式和过去分词 )；（从…中）得到获得；源于；（从…中）提取
参考例句：
  • Many English words are derived from Latin and Greek. 英语很多词源出于拉丁文和希腊文。 来自《简明英汉词典》
  • He derived his enthusiasm for literature from his father. 他对文学的爱好是受他父亲的影响。 来自《简明英汉词典》
3 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。
4 relatively bkqzS3     
adv.比较...地，相对地
参考例句：
  • The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
  • The operation was relatively painless.手术相对来说不痛。
5 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。
6 economists 2ba0a36f92d9c37ef31cc751bca1a748     
n.经济学家，经济专家( economist的名词复数 )
参考例句：
  • The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
  • Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

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