China to launch RQFII trials

 　　BEIJING, Dec. 16 (Xinhua) -- China issued rules for pilot programs of RMB Qualified¹ Foreign Institutional Investors² (RQFII) on Friday, formally giving a green light to investment of overseas RMB funds in mainland securities markets.

　　The move is expected to widen the investment channel of overseas RMB funds and add new momentum³ to the country's bid to make the RMB an international currency.

　　Hong Kong subsidiaries of fund management companies and securities firms can use RMB funds raised in Hong Kong to invest in mainland securities within a permitted quota⁴, according to the rules jointly⁵ released by the China Securities Regulatory Commission (CSRC), the People's Bank of China and the State Administration of Foreign Exchange.

　　The total investment quota of RQFII pilot programs is set at around 20 billion yuan (3.15 billion U.S. dollars), according to the rules.

　　To control risks, qualified investors should invest no less than 80 percent of the RMB funds they raised in fixed-income securities, while investment in stocks and equity⁶ funds should account for no more than 20 percent.

　　The CSRC will join other related departments to study the possibility of further expanding the trial program after its launch, said a CSRC official who declined to be identified.

　　The launch of the RQFII will open another significant channel for overseas RMB funds to flow back into the country, said the CSRC official.

　　It will also help diversify⁷ investment products for overseas RMB funds and facilitate off-shore RMB business, the official said.

　　The RMB is not fully⁸ convertible⁹ under the capital account but China has stepped up efforts to make the currency more international over the past few years.

　　The government has encouraged the use of the RMB in cross-border trade and investment settlement and approved foreign direct investment in overseas RMB funds obtained overseas.

　　It also allowed Hong Kong to establish an offshore¹⁰ yuan market and has expanded trade settlement agreements and currency swaps¹¹ to create more channels for the yuan to circulate outside the mainland.

1 qualified   

adj.合格的，有资格的，胜任的，有限制的

参考例句：

• He is qualified as a complete man of letters.他有资格当真正的文学家。
• We must note that we still lack qualified specialists.我们必须看到我们还缺乏有资质的专家。

2 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

3 momentum   

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。

4 quota   

n.（生产、进出口等的）配额，（移民的）限额

参考例句：

• A restricted import quota was set for meat products.肉类产品设定了进口配额。
• He overfulfilled his production quota for two months running.他一连两个月超额完成生产指标。

5 jointly   

ad.联合地，共同地

参考例句：

• Tenants are jointly and severally liable for payment of the rent. 租金由承租人共同且分别承担。
• She owns the house jointly with her husband. 她和丈夫共同拥有这所房子。

6 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

7 diversify   

v.（使）不同，（使）变得多样化

参考例句：

• Our company is trying to diversify.我们公司正力图往多样化方面发展。
• Hills and woods diversify the landscape.山陵和树木点缀景色。

8 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

9 convertible   

adj.可改变的，可交换，同意义的；n.有活动摺篷的汽车

参考例句：

• The convertible sofa means that the apartment can sleep four.有了这张折叠沙发，公寓里可以睡下4个人。
• That new white convertible is totally awesome.那辆新的白色折篷汽车简直棒极了。

10 offshore   

adj.海面的，吹向海面的；adv.向海面

参考例句：

• A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
• A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。

11 swaps   

交换( swap的名词复数 )； 交换物，被掉换者

参考例句：

• He swaps his old car for a new motorcycle. 他用旧车换了一辆新摩托车。 来自英汉 - 翻译样例 - 口语
• Swaps the anchor and end points of the current selection. 交换当前所选内容的定位点和结束点。