China to raise bank reserve ratio_财经新闻

China to raise bank reserve ratio

文章来源：文章作者：发布时间：2007-12-10 07:49 字体： [大中小]　进入论坛

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The building of the People's Bank of China in Beijing.

BEIJING, Dec. 9 - China will raise the reserve requirement ratio by one percentage point for commercial banks in an effort to cool the booming economy, the central bank announced Saturday.

The move, which will take effect on Dec. 25, will push the ratio to a new high of 14.5 percent, after it reached a ten-year high of 13.5 percent on Nov. 26.

This is the country's tenth rise in the reserve requirement ratio this year. It is aimed at "strengthening liquidity¹ management in the banking² system and checking excessive credit growth", the People's Bank of China said in a statement posted on its website.

The move follows the government's announcement at an annual economic conference concluded on Wednesday, which said the country would shift its monetary³ policy stance from "prudent⁴", an approach it has followed for the last ten years, to "tightening⁵".

It is the first time China has raised the reserve requirement ratio by as much as one percentage point since September, 2003. The other nine rises this year were half a percentage point each.

It means that a tighter monetary policy has been adopted, said Song Guoqing, Professor of the Peking University.

The move, launched at the end of the year, is also to prevent a boom in credit, which usually rebounds⁶ at the beginning of a year, he said.

Concerns about investment, the prime driver of China's economic growth, has been growing this year, as urban fixed⁷ assets investment picked up pace by rising 26.9 percent year-on-year in the first 10 months.

As the coming CPI for the first 11 months is expected to reach a new high, the move is also a reflection of the government's decision to prevent inflation, which has so far been confined to food, from spilling over into other sectors⁸, said Peng Xingyun, a researcher with the Research Institute of Finance under the Chinese Academy of Social Sciences.

Against a background of rising trade surplus and foreign exchange reserve, the rise is a further move to hedge excess liquidity in the country, said Peng.

It is estimated that a one percentage point rise of the reserve requirement ratio could reduce 400 billion yuan liquidity in the market.

At a conference held by the People's Bank of China on Wednesday, the central bank plans to use various monetary policy instruments to curb⁹ excess liquidity and to improve the RMB exchange rate forming mechanism¹⁰ to adjust the total demand and supply and to improve trade imbalances.

The central bank has raised interest rate five times this year.

"China's future monetary policies will depend on the country's economic situations," said Peng, adding "It does not necessarily mean more rises in interest rates or the reserve requirement ratio."

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收听单词发音

1 liquidity
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 banking
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。

3 monetary
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 prudent
adj.谨慎的，有远见的，精打细算的
参考例句：
A prudent traveller never disparages his own country.聪明的旅行者从不贬低自己的国家。 You must school yourself to be modest and prudent.你要学会谦虚谨慎。

5 tightening
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 rebounds
反弹球( rebound的名词复数 )；回弹球；抢断篮板球；复兴
参考例句：
V is the velocity after the gas particle rebounds from the wall. V是粒子从壁上弹开后的速度。 In the former case, the first body rebounds with practically its original velocity. 在前一种情况下，第一个物体实际上以原来的速度弹回。

7 fixed
adj.固定的，不变的，准备好的；(计算机)固定的
参考例句：
Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？ Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

8 sectors
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》

9 curb
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。

10 mechanism
n.机械装置；机构，结构
参考例句：
The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。 The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

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