China to raise forex conversion limit from Feb.1

时间：2007-01-12 06:58:11

（单词翻译:单击）

Chinanews, Beijing, Jan. 11 – Starting from February 1, the amount of foreign exchanges Chinese individual citizens are allowed to carry abroad will be raised from 20,000 to 50,000 US dollars a year. Many overseas students and people who travel frequently abroad feel excited about the news. To foreign exchange scalpers, however, the new regulation might make it difficult for them to make any profit in future, the Market News reported.

 

Mr. Zhang is one such foreign exchange scalper. He had been doing this “business” for about 8 years. He said that after the new regulation was implemented1, foreign exchange black market would no longer exist. He is now considering doing something else for a living.

 

Business of such foreign exchange black market once boomed2 in China. At that time, Chinese citizens had to run through tedious formalities in banks when they needed to exchange for some foreign exchanges, and the amount of foreign money they could buy was rather limited due to government regulation. As the Chinese government raises the limit, it is very convenient for Chinese people to buy foreign exchanges in banks and therefore the black market is no longer needed.

 

In addition, the rate of foreign exchange keeps declining3. Without any specific purpose, many Chinese people are reluctant to hold a large amount of foreign exchanges. Previously4, some Chinese people did so in order to preserve their assets5 value.

 
 

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1 implemented a0211e5272f6fc75ac06e2d62558aff0     
v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效
参考例句：
  • This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。 来自《现代汉英综合大词典》
  • The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。 来自辞典例句
2 boomed d60db83e05549ab4624bdd7b217c4fcb     
v.激增( boom的过去式和过去分词 )；猛涨；发出隆隆声；以低沉有力的声音说话
参考例句：
  • The big man's voice boomed out above the rest. 这位大汉低沉的声音压过了其他人。 来自《简明英汉词典》
  • Chicano literature boomed in the social movements of the 1960s. 奇卡诺文学勃兴于20世纪60年代社会运动的高潮中。 来自《简明英汉词典》
3 declining nubzzD     
adj.下降的，衰落的
参考例句：
  • The nub of the matter is that business is declining. 事情的实质是工商业在萎缩。
  • It is encouraging to read that illiteracy is declining. 从读报中了解文盲情况正在好转，这是令人鼓舞的。
4 previously bkzzzC     
adv.以前，先前（地）
参考例句：
  • The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
  • Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。
5 assets oyEzom     
n.财产；资产
参考例句：
  • We capitalized our assets to avoid bankruptcy.我们把资产转作资金以避免破产。

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