英闻天下——394 China's Central Bank Governor Stresses Stability

 　　China's central bank governor Zhou Xiaochuan now says the government will keep the monetary¹ policy and financial reforms stable and continuous - no matter who becomes the new governor of the People's Bank of China.

 

　　CRI's Su Yi has more.

 

　　"It does not matter if I have another term or not. Practice is the sole criterion of truth. Practice tests whether policies are effective. Those 'good things' are definitely going to remain consistent and stable."

 

　　Zhou Xiaochuan's comments came at the press conference on the sidelines of China's ongoing² parliamentary session.

 

　　In the realm of monetary policy, the Chinese government has set the growth target of broad money supply, or M2, at 13 percent for 2013.

 

　　The central bank governor says this will keep the policy both "prudent³ and neutral".

 

　　"This target of 13 percent represents a prudent and neutral monetary policy. We are no longer carrying out the relatively⁴ easy monetary policy, which was adopted during the global financial crisis."

 

　　With the new M2 target also smaller than last year's, Zhou also says it's an indication that the central government is emphasizing more on the stability of consumer prices.

 

　　But he warns they still can't let their guard down against inflation.

 

　　"Stabilizing⁵ consumer prices is the most important task of the central bank in most cases. The central bank has always put high attention on preventing consumer prices from rising too quickly."

 

　　China's consumer price index, or CPI, which is the main gauge⁶ of inflation, rebounded⁷ to a 10-month high of 3.2 percent in February.

 

　　It was over 1 percent higher than January, bringing back concerns of inflation once again.

 

　　The central government has set this year's inflation target at 3.5 percent.

 

　　And as far as the country's financial reforms go, Zhou Xiaochuan says realizing the free trading of Renminbi is a must for the government.

 

　　"We are pushing forward the free trading of Renmingbi in capital and financial account. That means, with or without the current window period of the global financial crisis or Renminbi internationalization, we are determined⁸ to realize the free trading of Renminbi in capital and financial account."

 

　　At the same time, the deputy central bank governor Yi Gang, says whether a place becomes an offshore⁹ yuan trading center, depends on the market forces.

 

　　"It will be decided¹⁰ by whether the needs of trading partners and financial institutions are concentrated in one place. In the future, several important global financial hubs could become Renmingbi's offshore trading center, but it depends on factual needs and the results of market competitions. It is like old saying 'fruits fall off when ripe' or a canal if formed when water comes'."

 

　　China's central bank though is thought to be allowing more flexibility¹¹ in the Renminbi's currency exchange rate.

 

　　Especially with a currency trading pilot program now set up in Shenzhen's Qianhai district set to try out new measures.

 

　　For CRI, I'm Su Yi.

1 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。

2 ongoing   

adj.进行中的，前进的

参考例句：

• The problem is ongoing.这个问题尚未解决。
• The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。

3 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。

4 relatively   

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。

5 stabilizing   

n.稳定化处理[退火]v.（使）稳定， （使）稳固( stabilize的现在分词 )

参考例句：

• The disulfide bridges might then be viewed primarily as stabilizing components. 二硫桥可以被看作是初级的稳定因素。 来自辞典例句
• These stabilizing design changes are usually not desirable for steady-state operation. 这些增加稳定性的设计改变通常不太符合稳态工作的要求。 来自辞典例句

6 gauge   

v.精确计量；估计；n.标准度量；计量器

参考例句：

• Can you gauge what her reaction is likely to be?你能揣测她的反应可能是什么吗？
• It's difficult to gauge one's character.要判断一个人的品格是很困难的。

7 rebounded   

弹回( rebound的过去式和过去分词 )； 反弹； 产生反作用； 未能奏效

参考例句：

• The ball rebounded from the goalpost and Owen headed it in. 球从门柱弹回，欧文头球将球攻进。
• The ball rebounded from his racket into the net. 球从他的球拍上弹回网中。

8 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

9 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。

10 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

11 flexibility   

n.柔韧性，弹性，（光的）折射性，灵活性

参考例句：

• Her great strength lies in her flexibility.她的优势在于她灵活变通。
• The flexibility of a man's muscles will lessen as he becomes old.人老了肌肉的柔韧性将降低。