China raises bank reserve ratio to 11% |
文章来源： 文章作者： 发布时间：2007-05-04 01:47 字体： [ 大 中 小] 进入论坛 |
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| Beijing, April 30 - The required reserve ratio for financial institutions engaged in deposit business will be raised by 0.5 percentage point as of May 15 to 11 percent, the People's Bank of China said on Sunday.
This is the fourth time the central bank has raised the deposit reserve ratio this year and the seventh time since last year in an effort to rein1 in excessive liquidity2 and cool the booming economy.
The central bank raised the bank deposit reserve ratio by the same margin3 in June, August and November last year and in January, February and April this year.
The increase in the reserve requirement comes after China reported surges in inflation, loans, investment, and gross domestic product in the first quarter of the year.
China's economy expanded 11.1 percent in the first quarter of the year, compared with 10.4 percent in the fourth quarter of last year.
The consumer price index was up 3.3 percent in March, the highest in more than two years, and beyond the target of 3 percent set by the Chinese government for the year.
"The increase in the reserve requirement is necessary and timely to help reduce inflationary pressures," said Cai Zhizhou, are searcher with Peking University.
The move also showed the central bank's determination to tighten4 liquidity, a major problem threatening China's economy.
China is facing rising pressure this year to curb5 excessive liquidity which is largely the result of the country's expanding trade surplus. China's M2, the broad measure of money supply, jumped 17.3 percent to 36.4 trillion yuan at the end of March. Its trade surplus reached 46.4 billion yuan in the first quarter, double that of the same period last year.
"Raising the reserve ratio is a rather easy and flexible measure for the central bank, but it might need to raise interest rates if the nation's strong economic momentum6 and inflationary pressures continue in the second quarter," said Wang Xiaoguang, a researcher at the Economy Research Institute of the National Development and Research Commission, the top economic planner.
The State Council, or cabinet, on April 18 took more urgent measures to reduce excessive liquidity. On March 18, the central bank raised the one-year benchmark interest rate by 0.27 percentage point.
Li Xiaochao, spokesman of the National Bureau of Statistics, said recently that China is running the risk of shifting from relatively7 fast economic growth to an over-heated economy.
Li acknowledged that the Chinese government should take more small steps to ensure a stable and fast economic growth, rather than introduce drastic cooling measures.
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点击  收听单词发音
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1
rein
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| 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。
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2
liquidity
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| 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。
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3
margin
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| n.页边空白；差额；余地，余裕；边，边缘 |
参考例句： |
- We allowed a margin of 20 minutes in catching the train.我们有20分钟的余地赶火车。
- The village is situated at the margin of a forest.村子位于森林的边缘。
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4
tighten
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| v.(使)变紧；(使)绷紧 |
参考例句： |
- Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
- Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。
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5
curb
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| 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。
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6
momentum
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| n.动力，冲力，势头；动量 |
参考例句： |
- We exploit the energy and momentum conservation laws in this way.我们就是这样利用能量和动量守恒定律的。
- The law of momentum conservation could supplant Newton's third law.动量守恒定律可以取代牛顿第三定律。
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7
relatively
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| 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。
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