China considers regulations on informal lending_财经新闻

China considers regulations on informal lending

文章来源：文章作者：发布时间：2007-12-10 07:51 字体： [大中小]　进入论坛

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Dec.10 - China is considering formulating¹ regulations on informal lending to better regulate the country's financial market, said Jiang Dingzhi, vice² chairman of the China Banking³ Regulatory Commission (CBRC) Friday.

To lay down relevant regulations together with other relevant ministries⁴ is conducive⁵ to the country's financial stability, especially in the countryside and providing better financial services there, said Jiang at the 2007 China Rural Finance Forum⁶.

Informal lending means lending between individuals, between enterprises, and between individuals and enterprises, as opposed to lending by financial institutions, explained Luo Yuzheng, an official in charge of loans business from eastern China's Ningbo branch of Bank of China.

"For example, a township enterprise needs to pay a 7.29 percent interest rate to get loans from the bank and it also needs mortgages and some surety. If the enterprise doesn't have good credit, the interest rate may also float upward," added Luo.

Against the background of the country shifting its monetary⁷ policy from "prudent⁸" to "tight", it may become more difficult for those enterprises with low credit to get loans from the bank, he said.

Access for Chinese farmers and rural enterprises to raise funds for their businesses is still limited. Some farmers and enterprises may turn to informal lending due to a more favourable⁹ interest rate or simply wanting to avoid procedures of being granted the loans from banks.

Official figures show Chinese farmers rarely obtain loans of more than 5,000 yuan (675 U.S. dollars) from banks, leading to the existence of some underground banks and usurious loans, especially in the rural areas.

Figures from the State Administration of Foreign Exchange showed that more than 70 underground banks and illegal foreign exchange swap¹⁰ centers were uncovered in 2006.

"In the rural areas, people's awareness¹¹ of risk of lending is weaker than that of urban dwellers¹² and people are less likely to move around for new jobs compared with cities, so informal lending outside the banks is more common," Dr. Ou Minggang, the Deputy Chief Editor of the Chinese Banker magazine, told Xinhua.

This move of the industry watchdog on the one hand is to strengthen financial supervision¹³ for informal lending, especially in rural areas, and on the other hand to regulate the alternative financing channel to the loans from banking institutions, added Ou.

"The existence of informal lending is necessary, because it can reduce the cost of both the lenders and borrowers and it is efficient. However, this practice needs to be regulated and carried out in an legitimate¹⁴ way," commented Ou.

The CBRC didn't reveal the timetable of when the regulation would be implemented¹⁵ out.

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收听单词发音

1 formulating
v.构想出( formulate的现在分词 )；规划；确切地阐述；用公式表示
参考例句：
At present, the Chinese government is formulating nationwide regulations on the control of such chemicals. 目前，中国政府正在制定全国性的易制毒化学品管理条例。来自汉英非文学 - 白皮书 Because of this, the U.S. has taken further steps in formulating the \"Magellan\" programme. 为此，美国又进一步制定了“麦哲伦”计划。来自百科语句

2 vice
n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的
参考例句：
He guarded himself against vice.他避免染上坏习惯。 They are sunk in the depth of vice.他们堕入了罪恶的深渊。

3 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。

4 ministries
（政府的）部( ministry的名词复数 )；神职；牧师职位；神职任期
参考例句：
Local authorities must refer everything to the central ministries. 地方管理机构应请示中央主管部门。 The number of Ministries has been pared down by a third. 部委的数量已经减少了1/3。

5 conducive
adj.有益的，有助的
参考例句：
This is a more conducive atmosphere for studying.这样的氛围更有利于学习。 Exercise is conducive to good health.体育锻炼有助于增强体质。

6 forum
n.论坛，讨论会
参考例句：
They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。 The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

7 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。

8 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。

9 favourable
adj.赞成的，称赞的，有利的，良好的，顺利的
参考例句：
The company will lend you money on very favourable terms.这家公司将以非常优惠的条件借钱给你。 We found that most people are favourable to the idea.我们发现大多数人同意这个意见。

10 swap
n.交换；vt.交换，用...作交易
参考例句：
I will swap you my bicycle for your radio.我想拿我的自行车换你的收音机。 This comic was a swap that I got from Nick.这本漫画书是我从尼克那里换来的。

11 awareness
n.意识，觉悟，懂事，明智
参考例句：
There is a general awareness that smoking is harmful.人们普遍认识到吸烟有害健康。 Environmental awareness has increased over the years.这些年来人们的环境意识增强了。

12 dwellers
n.居民，居住者( dweller的名词复数 )
参考例句：
City dwellers think country folk have provincial attitudes. 城里人以为乡下人思想迂腐。来自《简明英汉词典》 They have transformed themselves into permanent city dwellers. 他们已成为永久的城市居民。来自《简明英汉词典》

13 supervision
n.监督，管理
参考例句：
The work was done under my supervision.这项工作是在我的监督之下完成的。 The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

14 legitimate
adj.合法的，合理的，合乎逻辑的；v.使合法
参考例句：
Sickness is a legitimate reason for asking for leave.生病是请假的一个正当的理由。 That's a perfectly legitimate fear.怀有这种恐惧完全在情理之中。

15 implemented
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

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