考研英语#2016考研究生英语阅读热点#中国银行业掏出巨资救股市 ...

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China banks commit $200bn to stock rescue
China's biggest state-owned banks have lent acombined Rmb1.3tn ($209bn) to the country'smargin finance agency in recent weeks to staunch a free-fall in the stock market, casting doubton whether the recent market rebound is sustainable without government support.
最近几周，中国大型国有银行已向国内保证金融资机构总计出借了1.3万亿元人民币(合2090亿美元)资金，以止住股市的直线下跌。这不禁让人怀疑，若无政府的支撑，中国股市近期的反弹能否持续下去。
China Securities Finance Corp was established in 2011 to lend to securities brokerages andsupport margin lending to stock investors. Amid the stock market's dramatic tumblebeginning in late June, however, the government has deployed CSF as a conduit for injectingrescue funds into the stock market.
中国证券金融股份有限公司(China Securities Finance Corp，简称咨询QQ、微信：2544906人民币。五大行——中国工商银行(ICBC)、中国建设银行(CCB)、中国农业银行(ABC)、中国银行(BoC)和交通银行(Bank of Communications)——每一家都提供了逾1000亿元人民币贷款。该杂志报道称，17家银行自7月13日以来提供了总共约1.3万亿元人民币的银行间贷款。
The People's Bank of China had previously said it was "actively assisting" CSF to obtainliquidity through interbank lending, bond issuance, and other methods. The central laterconfirmed it had provided loans directly to CSF, without specifying an amount.
中国央行此前表示，正通过银行间贷款、债券发行和其他方式“积极帮助”证金公司获得流动性。中国央行后来证实，它已直接向证金公司提供了贷款，但未说明贷款金额。
CSF also recently issued bonds in the interbank market worth Rmb800bn. With the interbankloans, that brings its total war chest to over Rmb2tn, even before direct loans from the centralbank are included.
证金公司近来还在银行间市场发行了8000亿元人民币债券。有了银行间贷款，即便不计入从中国央行获得的直接贷款，证金公司掌控的总资金也达到了逾2万亿元人民币。
The Caijing report suggests the PBoC is seeking to minimise its direct role in lending to CSF,preferring to rely on commercial banks to provide funds for the stock market rescue.
《财经》的报道表明，中国央行正寻求尽量减少对证金公司的直接贷款，而更倾向于依赖商业银行提供救市资金。
"I think what the PBoC wants to achieve is like 'Do whatever it takes' as said by (EuropeanCentral Bank president Mario) Draghi to boost confidence (in the euro), but no need to reallyprint money to buy stocks. They want to do easing, but not this way,"said Larry Hu, Chinaeconomist at Macquarie Securities.
“我认为，中国央行想要达到的是(欧洲央行(ECB)行长)马里奥德拉吉(Mario Draghi)为提振(人们对欧元的)信心时所讲的‘不惜一切代价’那样的效果，但又不需要真正印钞购买股票。他们想搞宽松，但不是以印钞的方式，”麦格理证券(Macquarie Securities)中国经济学家胡伟俊(Larry Hu)表示。
Still, the central bank regularly lends to commercial banks through various mechanisms, soPBoC could have provided extra funds to support commercial banks' loans to CSF.
不过，中国央行会时不时通过各种机制向商业银行发放贷款，所以，中国央行可能已经向银行提供了额外的资金、以支持它们向证金公司发放贷款。
For the commercial banks, the burden of national service isn't too onerous. Their loans toCSF carry little risk, given CSF's status as a state-owned financial institution, and the returnon their loans is "pretty good," Caijing reported.
对商业银行来说，“为国效劳”并不是个太苦的差事。《财经》报道称，鉴于证金公司是国有金融机构，所以商业银行提供给它的贷款风险很小，而且回报“相当不错”。