Regulating the Financial System
关于中央银行的中英英语作文
关于中央银行的中英英语作文Central banks play a crucial role in the economic stability and prosperity of a nation. They are responsible for implementing monetary policies, regulating the financial system, and ensuring the overall health of the economy. In this essay, we will explore the functions and importance of central banks, both in the context of China and globally.At the heart of a country's financial system, central banks serve as the lender of last resort, providing liquidity and support to the banking sector during times of crisis. They are tasked with maintaining price stability, often through the use of interest rate adjustments and other monetary tools. By controlling the money supply and influencing the cost of borrowing, central banks can steer the economy towards sustainable growth and mitigate the risks of inflation.In the case of China, the People's Bank of China (PBOC) is the country's central banking institution. Established in 1948, the PBOC has evolved over the years to become a powerful force in shapingChina's economic trajectory. Its primary objectives include promoting financial stability, supporting economic development, and safeguarding the value of the Chinese currency, the renminbi (RMB).One of the PBOC's key responsibilities is to manage the exchange rate of the RMB. By carefully monitoring and adjusting the currency's value, the central bank aims to maintain China's export competitiveness while also ensuring the stability of the domestic financial system. This delicate balance has been a subject of much international scrutiny, with some trading partners accusing China of currency manipulation to gain an unfair advantage in global trade.However, the PBOC's role extends far beyond exchange rate management. It also plays a crucial part in regulating the banking sector, setting reserve requirements, and overseeing the country's payment systems. The central bank's monetary policy decisions, such as adjusting interest rates and reserve requirements, can have a significant impact on the availability of credit, investment, and consumer spending within China.Globally, central banks are recognized as essential institutions for maintaining economic stability and promoting sustainable growth. The Federal Reserve (the Fed) in the United States, the European Central Bank (ECB), and the Bank of Japan (BOJ) are among the world's most influential central banking authorities, each with its ownunique set of challenges and policy considerations.The Fed, for instance, is tasked with achieving maximum employment and price stability in the United States. It does so by adjusting the federal funds rate, which is the interest rate at which banks lend to one another overnight. By raising or lowering this key rate, the Fed can influence the cost of borrowing for businesses and consumers, thereby affecting the pace of economic activity and inflation.Similarly, the ECB is responsible for maintaining price stability across the Eurozone, which comprises 19 of the 27 European Union member states. The ECB's monetary policy decisions, such as setting the benchmark interest rate and implementing asset purchase programs, have far-reaching implications for the economic well-being of the entire Eurozone.In Japan, the BOJ has struggled to overcome the persistent challenge of low inflation and sluggish economic growth. The central bank has employed a range of unconventional monetary policy tools, including negative interest rates and large-scale asset purchases, in an effort to stimulate the Japanese economy and achieve its 2% inflation target.Central banks around the world have also played a crucial role inresponding to global crises, such as the 2008 financial crisis and the COVID-19 pandemic. During these turbulent times, central banks have acted as the first line of defense, providing emergency liquidity, reducing interest rates, and implementing various asset purchase programs to support financial markets and the broader economy.In the case of the COVID-19 pandemic, central banks worldwide have taken unprecedented steps to mitigate the economic fallout. The Fed, for instance, has slashed interest rates to near-zero levels, launched a range of lending and asset purchase programs, and established currency swap lines with other central banks to ensure the smooth functioning of global financial markets.Similarly, the PBOC has implemented a series of monetary and fiscal measures to support the Chinese economy, including cutting interest rates, reducing reserve requirements for banks, and providing targeted lending to small and medium-sized enterprises. These actions have helped to cushion the economic impact of the pandemic and pave the way for a gradual recovery.Looking ahead, central banks will continue to play a pivotal role in shaping the economic landscape. As the world grapples with challenges such as climate change, technological disruption, and rising inequality, central banks will be called upon to adapt their policies and tools to address these complex issues.For instance, central banks are increasingly incorporating climate-related risks into their policy frameworks and exploring ways to support the transition to a low-carbon economy. The ECB, for example, has announced plans to incorporate climate change considerations into its monetary policy strategy, including the possibility of tilting its asset purchase programs towards greener investments.Moreover, central banks are also exploring the potential of digital currencies, both in the form of central bank digital currencies (CBDCs) and the integration of blockchain technology into their payment systems. These innovations could revolutionize the way money is created, distributed, and used, with far-reaching implications for financial inclusion, cross-border transactions, and the overall efficiency of the financial system.In conclusion, central banks play a pivotal role in shaping the economic landscape, both within individual countries and globally. By implementing monetary policies, regulating the financial system, and responding to crises, central banks strive to maintain price stability, foster economic growth, and ensure the overall health of the financial system. As the world continues to evolve, central banks will be called upon to adapt and innovate, ensuring that their policiesand tools remain relevant and effective in addressing the challenges of the 21st century.。
学术英语(第二版)综合教师手册unit3
Unit 3 Business EthicsI Teaching ObjectivesAfter learning Unit 3, students (Ss) are expected to develop the following academic skills and knowledge:II Teaching Activities and ResourcesReadingText ALead-inTeaching StepsAsk Ss to work in groups and complete the task in Lead-in. Then choose some groups to share their answers with the whole class.Answer Keys (Suggested Answers)1.Corporate Social Responsibility (CSR) can be defined as a self-regulatingbusiness model that helps a company be socially accountable —to itself, its stakeholders, and the public. In other words, it is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.2.Text AnalysisTeaching Steps1.OverviewAsk Ss to preview Text A before class. Or, allocate some time for Ss to read the text quickly in class. Then invite several Ss to summarize the main idea of Text A.2.In-Depth Analysis1)Show Ss the following words and ask them to contribute to the class as muchas possible with what they know about these words. Provide additional information in Supplementary Information when necessary.•economic system•free enterprise2)Explain some important language points in Language Support to Ss.3)Discuss with Ss the features of the two versions of Adam Smith’s theory bydoing Task 1 in Critical reading and thinking.4)Organize a group discussion about the questions from Task 2 in Criticalreading and thinking. Encourage Ss to think independently, critically and creatively and share their ideas with each other.Supplementary Information1.economic systemAn economic system is a system for producing, distributing and consuming goods and services, including the combination of the various institutions, agencies, consumers, entities that comprise the economic structure of a given society or community. It also includes how these various agencies and institutions are linked to one another, how information goes between them, and the social relations within the system.Two of the basic and general economic systems are market economy and planned economy. Market economy is an economic system in which businesses and individuals decide what to produce and buy, and the market determines quantities sold and prices, whereas planned economy is an economic system in which decisions regarding production and investment are embodied in a plan formulated by a central authority, usually by a public body such as a government agency.Although a planned economy may be based on either centralized or decentralized forms of economic planning, it usually refers to a centrally planned economy.2.free enterpriseFree enterprise refers to the system of business in which individuals are free to decide what to produce, how to produce, and at what price to sell.Language Support1.Most academics today subscribe to the following modified version of AdamSmith’s theory:…(Para. 2)In the text, the phrase “subscribe to”means “agreeing with or supporting (an opinion, theory, etc.)”（同意；赞成）.e.g. I subscribe to the idea that voting is my civic duty.She subscribes to the theory that some dinosaurs were warm-blooded andothers were cold-blooded.It can also refer to “paying money to get (a publication or service) regularly”（订阅）.e.g. I subscribe to several magazines.We have subscribed to an evening newspaper.2.These constraints take a number of different forms. …Another set ofconstraints …(Para. 3)Two recent examples dramatically illustrate these points. First, …(Para. 3) Classification is employed to organize things into categories with a single organizing principle, and give examples of things that fit into each category. Here are other commonly-used words and expressions for classification:•The first (kind/type/group/class/etc.) …; the second …; the third …•sort, classify, categorize …•category, group, class, kind …3.Saving the financial system required a bailout of the banks and otherfinancial companies, and that bailout imposed huge costs on the taxpayers, and also helped push the economy into a deep recession. (Para. 5)impose sth. on sb.:i) force something on someone把......强加于e.g. He always imposes his opinion on others.ii) levy a tax or duty征税e.g. It is therefore necessary for governments to impose a higher tax on this kindof food.Here is another usage of the word “impose”:impose on sb.:i) force oneself on others强加于人e.g. Thanks for your offer to help, but I did not want to impose on you.ii) take unfair advantage of 利用e.g. Don’t you think you are imposing on your neighbor when you use histelephone for half an hour?4.be true to one’He is always true to his word and focused on the big picture.Ninety days later, true to his word, the goldsmith brought the crown.5.To date, Buffett has contributed more than $6 billion, and over time he isscheduled to contribute additional stock that is now worth in excess of $40 billion. (Para. 7)in excess of: greater than, more than 超过e.g. Luggage in excess of 100 kg will be charged extra.This plane can reach speeds in excess of 1000 kilometers an hour.Answer KeysCritical reading and thinkingTask 1 / Overview1The original version：The invisible hand; Profit maximization; Free enterprise systemThe modified version:the wealth of its stockholders; the best economic system; constraints2Argument 11) a wide range of regulations are imposed2) assessing costs on companies; BP oil spillArgument 21) behave ethically; value and reputation2) Don’t Be Evil3) creative capitalism4) contributed more than $6 billionTask 2 / Points for discussion (Suggested Answers)11) Yes, I agree. Because:• Earning profit is the main aim of every economic activity. A business is an economic activity and hence, its main aim should be to earn profit.• Profit is a measure of eff iciency and economic prosperity of the business. This justifies the concept of profit maximization.• Economic conditions do not remain the same all the time. A business can retain its profit so that it can survive the adverse situations in the future. Profit gives protection against future risks and uncertainties.• Profit is the main source of finance for growth and expansion. Profit is essential for the business in order to invest in new business propositions.• Profitability is essential for fulfilling the social goals of the business. With profit maximization a business can do socio-economic welfare and follow its policies of corporate social responsibility.2) No, I don’t agree. Because:Business should do anything they can to make a profit, but never at the cost of human welfare and natural environment. Human welfare must be considered as important as profit making. A business is successful to the extent that it provides a product that contributes to happiness in all forms. As a matter of fact, the great value of a business should be morally associated with consumer’s satisfaction and safety. On the other hand, businesses of great value should not be blind to their moral obligations of protecting the natural environment.2 Yes, it is a very effective way for society to impose such regulations to prevent companies from engaging in practices that hurt society. For most businesses their ultimate goal is to make profits. It is true that most businessmen try to abide by the laws while making profits. However we have to admit that there are some who use every means to make as much money as possible, even regardless of the interests ofemployees, communities, and environment. Therefore, the regulations such as penalties and suspension for internal rectification should be imposed to deter companies from unlawful practices.3 Yes, having a good reputation with customers, suppliers, employees and regulators is essential if value is to be maximized. Business success is associated with many entities, such as customers, suppliers, employees and regulators. If customers are satisfied with your products and service, they will be loyal to your company. If suppliers provide you with qualified products, your business will operate well. If employees are treated well, they will work very hard and are willing to be part of your company. If regulators are certain that your company acts fairly and follows rules, your company will develop sustainably. All above depends on whether the business is continually operating with society’s interests in mind and maintaining a good reputation.Language building-upAnswer keysTask 1 / Specialized vocabulary11 纳税人2 自由企业制度3 股东4 经济体制5 市场力量；市场调节作用6 金融机构7 stock price 8 mission9 corporate motto 10 assets11 profit maximization 12 financial system21 financial institutions2 free enterprise system3 assets4 Taxpayers5 stockholder6 profit maximization7 economic system 8 market forcesTask 2 / Academic vocabulary1. principal2. dramatically3. academics4. maximization5. framework6. range7. compensate 8. transfer9. inadequate 10. constraintsTask 3 / Collocations1. subscribe to2. striving to3. imposing …on4. go out of business5. as a whole6. engaged in7. go hand in hand with 8. in excess ofTask 4 / Formal English1 insights2 subscribe to3 imposes4 adverse5 mission6 philanthropic7 donated 8 famedTranslation of Text A达到适当的平衡在1776年，亚当·斯密描述了一只“看不见的手”是如何引导企业追求利润的，而这只手会引导企业做出有利于社会的决策。
CentralBanks中央银行
A central bank is a country's main monetary authority and is responsible for the issuing and administration of currency; licensing and overseeing the operations of commercial banks and financial institutions; regulating financial markets (interest and exchange rates); maintaining foreign exchange and gold reserves; maintaining the payment and settlement system; and lending in the case of emergencies. The main aim of a central bank is to assess and analyze the changes in the economy and make adjustments to the base interest rates to guide it to sustainable long-term growth. The Central Bank in China is The People's Bank of China (PBOC). Other examples of central banks include the Federal Reserve Bank in the United States, the Bank of England, the European Central Bank and the Reserve Bank of Australia. 中央银⾏是国家主要的⾦融机构，负责发⾏和管理货币；准许并监督商业银⾏与⾦融机构的运作；调节⾦融市场（利息和汇率）；维持外汇和黄⾦储备；维护⽀付与结算系统；以及紧急贷款。
银行业务英语试题及答案
银行业务英语试题及答案一、选择题（每题2分，共20分）1. What is the most common method of payment in international trade?A. CashB. Letter of CreditC. ChequeD. Credit Card答案：B2. Which of the following is not a type of bank account?A. Checking AccountB. Savings AccountC. Fixed Deposit AccountD. Insurance Account答案：D3. What does the abbreviation "SWIFT" stand for in banking?A. Society for Worldwide Interbank Financial TelecommunicationB. Secure Worldwide International Financial TransfersC. Secure World International Financial ServicesD. Society of International Financial Services答案：A4. What is the primary function of a bank?A. To provide loansB. To accept deposits and make loansC. To sell insuranceD. To offer investment advice答案：B5. What is the term used for the process of verifying the authenticity of a document?A. NotarizationB. AuthenticationC. VerificationD. Certification答案：B6. Which of the following is a type of risk associated with banking?A. Market RiskB. Credit RiskC. Liquidity RiskD. All of the above答案：D7. What is the term used for the interest rate at which banks lend money to each other?A. Prime RateB. LIBORC. APRD. APRA答案：B8. What is the term used for the process of transferring money from one bank to another?A. RemittanceB. Wire TransferC. Cheque ClearingD. Cash Withdrawal答案：B9. What is the term used for the practice of offering a lower exchange rate to customers than the market rate?A. ArbitrageB. SpreadC. MarkupD. Discount答案：C10. What does the term "forfaiting" refer to in banking?A. The sale of goods on creditB. The buying and selling of foreign currenciesC. The discounting of bills of exchange without recourseD. The process of issuing a letter of credit答案：C二、填空题（每题1分，共10分）11. The ________ is a document issued by a bank guaranteeing the payment of a specified amount to a named payee.答案：Letter of Credit12. Banks often offer ________ services to their customers to help them manage their finances.答案：Banking13. The ________ is a document that represents the ownership of goods and is used in international trade.答案：Bill of Lading14. A ________ is a financial instrument that represents a debt owed by one party to another.答案：Bond15. The ________ is the process of converting one currency to another.答案：Foreign Exchange16. Banks use ________ to protect themselves against the risk of a borrower defaulting on a loan.答案：Collateral17. The ________ is the rate at which a bank lends to its most creditworthy customers.答案：Prime Rate18. A ________ is a financial statement that shows a company's assets, liabilities, and equity at a particular point in time.答案：Balance Sheet19. The ________ is the process of determining the creditworthiness of a potential borrower.答案：Credit Assessment20. A ________ is a type of investment account that allowsfor tax-deferred growth.答案：Retirement Account三、简答题（每题5分，共30分）21. What are the main functions of a commercial bank?答案：The main functions of a commercial bank include accepting deposits, providing loans, facilitating payments and money transfers, offering financial advice, and managing risk.22. Explain the concept of "fractional reserve banking."答案：Fractional reserve banking is a system where banks are only required to hold a fraction of their customers' deposits in reserve, while the rest can be lent out to generate income.23. What is the role of the central bank in an economy?答案：The role of the central bank includes implementing monetary policy, regulating the financial system, maintaining financial stability, managing the country's foreign exchange reserves, and issuing currency.24. Describe the process of a bank loan application.答案：The process of a bank loan application typicallyinvolves the borrower submitting an application, providing necessary documentation, undergoing a credit assessment, and, if approved, signing a loan agreement.四、论述题（共40分）25.。
境外投资管理办法 中英文
境外投资管理办法Administrative Measures for Outbound Investment颁布机关:商务部Promulgating Institution: Ministry of Commerce文号:商务部令2014年第3号Document Number: Order 2014 No. 3 of the Ministry of Commerce颁布时间: Promulgating Date: 09/06/2014 09/06/2014实施时间: Effective Date: 10/06/2014 10/06/2014效力状态: Validity Status: 有效Valid第一章总则Chapter 1: General Provisions第一条为了促进和规范境外投资,提高境外投资便利化水平,根据《国务院关于投资体制改革的决定》、《国务院对确需保留的行政审批项目设定行政许可的决定》及相关法律规定,制定本办法。
Article 1 With a view to promoting and regulating outbound investment, and raising the level of outbound investment facilitation, these Measures are formulated pursuant to the Decision of the State Council on Reform of the Investment System, the Decision of the State Council on Instituting Administrative Licensing on Administrative Examination and Approval Items Necessary to Be Retained and other relevant legal provisions.第二条本办法所称境外投资,是指在中华人民共和国境内依法设立的企业(以下简称企业)通过新设、并购及其他方式在境外拥有非金融企业或取得既有非金融企业所有权、控制权、经营管理权及其他权益的行为。
如何减少贫富差距英语作文
Reducing the wealth gap is a complex issue that requires a multifaceted approach. Here are several strategies that can be employed to address this challenge:1. Educational Reform: Ensuring that everyone has access to quality education is crucial. By investing in schools and educational programs, we can equip individuals with the skills necessary to secure betterpaying jobs and improve their economic prospects.2. Income Redistribution: Implementing progressive tax policies can help redistribute wealth more equitably. This involves taxing higher earners at a higher rate and using the revenue to fund social programs that benefit those in lower income brackets.3. Minimum Wage Increases: Raising the minimum wage can provide a more livable income for workers at the bottom of the economic scale, reducing the income disparity between the rich and the poor.4. Social Safety Nets: Strengthening social safety nets, such as unemployment benefits, food assistance programs, and affordable housing initiatives, can provide a buffer for those facing economic hardship and help to reduce poverty.5. Encouraging Entrepreneurship: Policies that support small businesses and entrepreneurship can create more job opportunities and foster economic growth that benefits a wider segment of the population.6. Regulating the Financial Sector: Ensuring that the financial sector operates transparently and ethically can prevent the excessive accumulation of wealth by a few at the expense of many.7. Combating Corruption: Corruption often exacerbates wealth inequality by allowing the wealthy to exploit their power for personal gain. Strong anticorruption measures can help to level the playing field.8. Promoting Fair Trade: Supporting fair trade practices can ensure that workers in developing countries receive a fair wage for their labor, reducing global wealth disparities.9. Investing in Infrastructure: Infrastructure projects can create jobs and stimulate local economies, providing opportunities for those in lowerincome communities.10. Access to Healthcare: Ensuring that all citizens have access to affordable healthcare can prevent medical expenses from plunging families into poverty.11. Gender Equality: Addressing gender disparities in the workforce can lead to a more equitable distribution of wealth, as women are often paid less than men for the same work.12. Technology and Automation: As technology advances, its important to manage the transition to ensure that it creates new opportunities rather than exacerbating job displacement and wealth inequality.By implementing a combination of these strategies, societies can work towards reducing the wealth gap and creating a more equitable distribution of resources and opportunities.。
英国财务制度和中国的区别
英国财务制度和中国的区别The United Kingdom has a well-developed and sophisticated financial system that is one of the world's largest. It is characterized by a high degree of liberalization, market orientation, and innovation. The financial system comprises a diverse range of institutions, including banks, securities firms, insurance companies, and pension funds. The central bank, the Bank of England, plays a key role in setting monetary policy and regulating the financial system. The Financial Conduct Authority (FCA) is responsible for supervising and regulating the conduct of financial institutions and markets.In contrast, China's financial system is more state-dominated and less developed compared to the UK. The People's Bank of China (PBOC) serves as the central bank and is responsible for monetary policy, regulating the banking sector, and managing the country's foreign exchange reserves. The China Banking Regulatory Commission (CBRC), the China Securities Regulatory Commission (CSRC), and the China Insurance Regulatory Commission (CIRC) oversee and regulate the banking, securities, and insurance sectors, respectively.One of the key differences between the UK and China's financial systems is the level of liberalization and openness to foreign competition. The UK has a relatively open financial system that allows foreign financial institutions to operate freely and compete with domestic players. In contrast, China's financial system is more closed and restrictive, with strict controls on foreign ownership and investment in key sectors such as banking and insurance.Another difference is the depth and efficiency of financial markets. The UK has well-developed capital markets with a wide range of financial products and instruments, such as stocks, bonds, derivatives, and commodities. The London Stock Exchange is one of the largest and most liquid stock exchanges in the world. In contrast, China's capital markets are still relatively underdeveloped and dominated by state-owned enterprises. The Shanghai and Shenzhen stock exchanges are the main stock markets in China, but they are less liquid and efficient compared to Western counterparts.Moreover, the UK has a more mature regulatory framework that promotes transparency, accountability, and investor protection. Financial institutions in the UK are subject to prudential regulations, disclosure requirements, and corporate governance standards to ensure stability and integrity in the financial system. In contrast, China's regulatory environment is still evolving and facing challenges related to corruption, state interference, and lack of transparency. There have been instances of fraud, mismanagement, and market manipulation in China's financial sector, which have raised concerns about the credibility and reliability of financial information.Furthermore, the role of the government in the financial system differs between the UK and China. In the UK, the government plays a limited role in the financial sector, with a focus on promoting competition, consumer protection, and financial stability. The Financial Services Compensation Scheme (FSCS) provides deposit insurance and protects consumers againstfinancial failures. In contrast, the Chinese government plays a more active and interventionist role in the financial sector, using state-owned banks and enterprises to allocate credit, finance infrastructure projects, and support strategic industries. This has led to issues of moral hazard, inefficiency, and non-performing loans in China's financial system. In conclusion, the UK and China have distinct financial systems with different structures, regulations, and efficiencies. The UK has a more liberalized, market-oriented, and developed financial system, while China has a state-dominated, less developed, and regulated financial system. Both countries face challenges such as regulatory reform, corporate governance, and risk management to improve the efficiency, resilience, and competitiveness of their financial systems in the global economy.。
央行跨境人民币FDI新规英文版
Announcement of the People’s Bank of China[2011] No. 23For the purpose of further expanding the utilization of RMB in cross-border trade and investment, regulating banks and foreign investors to handle RMB settlement in foreign direct investment, the People’s Bank of China has formulated the Measures for the Administration on RMB Settlement in Foreign Direct Investment, which is hereby promulgated, and shall take effect.People’s Bank of ChinaOctober 13, 2011 Measures for the Administration on RMBSettlement in Foreign Direct InvestmentChapter I General ProvisionsArticle 1For the purpose of expanding the scope of application of RMB in cross-border trade and investment and regulating the financial institutes in the banking industry (hereinafter referred to as banks) to handle RMB settlement in foreign direct investment, in accordance with the Law of the People’s Bank of China of the People’s Republic of China, the Administrative Measures for the RMB Bank Settlement Accounts (Decree of the People’s Bank of China [2003] No. 5) and related laws, administrative regulations and rules, the Measures shall hereby be formulated.Article 2Banks handling RMB settlement in foreign direct investment shall be subject to the Measures.Article 3Any foreign enterprise, economic organization or individual (hereinafter referred to as foreign investor) investing withinChina in RMB should abide by laws and regulations of the People’s Republic of China on foreign direct investment.Article 4The People’s Bank of China shall, in accordance with the Measures, execute administration on RMB settlement in foreign direct investment.Chapter II Business ProcessArticle 5Any foreign investor may in accordance with the Administrative Measures for RMB Bank Settlement Accounts and the Administrative Measures for RMB Bank Settlement Accounts for Foreign Institutes (Yin Fa [2010] No. 249) apply for the opening RMB bank settlement account for foreign institutes in handling RMB settlement in foreign direct investment. And for the early-stage RMB costs fund related to investment project and the RMB capital gained through distribution of profits, liquidation, reduction of capital, transfer of equity and recovery of investment ahead of time for reinvestment within China should in the principle of special account for special purpose be opened special deposit account for theearly-stage RMB costs and the one for RMB reinvestment respectively, which shall not handle cash receipt and payment business.Article 6Banks should handle payment of the early-stage costs to the RMB bank settlement account within China after examining and reviewing such materials as payment command letter, capital purpose specification and capital utilization commitment letter. The rest early-stage costs should be transferred to the special deposit account for RMB capital fund opened according to Article 8 of the Measures or refunded after the foreign investment enterprise is established.Article 7The foreign investment enterprise (inclusive of the newly-established and merged and acquired)should within 10 working days upon receiving the business license apply to the branch of the People’s Bank of China where it is registered for handling the registration of enterprise information with the following materials.（I）copies of certificate of approval for foreign investment enterprise;（II）duplicate of the business license and organization institution code certification.Foreign investment partnership shall not submit the materials as mentioned in （I）.The branch of the People’s Bank of China where the foreign investment enterprise is registered should complete the formalities of enterprise information registration within 10 working days upon receiving the application materials.Where the alterations of the name, operating period, contribution mode, partners, joint venture and cooperation mode and other basic information of the registered foreign investment enterprise, or material alterations of increase of capital, decrease of capital, equity transfer or replacement, merger or division arise, it should within 15 working days upon altering registration or filing in the industrial and commercial administration report and submit the aforesaid alterations to the branch of the People’s Bank of China where it is registered.Article 8Any foreign investment enterprise should in accordance with the administrative provisions for bank settlement accounts including the Administrative Measures for RMB Bank Settlement Accounts submit the business license and other materials to apply for the opening RMB bank settlement account. And the RMB registered capital remitted inward or RMB contribution by foreign investor should in the principle of special account for special purpose be opened special deposit account for RMB capital fund, which shall not handle cash receipt and payment business.Where any foreign investor merges and acquires the domestic enterprise in RMB to establish the foreign investment enterprise, Chinese shareholders of the merged and acquired domestic enterprise should in accordance with the provisions for the administration over bank settlement accounts including the Administrative Measures for RMB Bank Settlement Accounts apply for opening the special deposit account forRMB merger and acquisition specially for the deposit of the RMB merger and acquisition capital remitted inward by foreign investor, which shall not handle cash receipt and payment business.Where any foreign investor makes equivalent payment to Chinese shareholder of foreign-funded enterprise abroad for equity transfer in RMB, Chinese shareholder should in accordance with the provisions for the administration over bank settlement accounts including the Administrative Measures for RMB Bank Settlement Accounts apply for opening the special deposit account for RMB equity transfer specially for the deposit of the equivalent payment for RMB equity transfer remitted inward by foreign investor, which shall not handle cash receipt and payment business.Article 9Any foreign investor should submit the related materials approved or filed by the national departments concerned in handling inward remittance of foreign RMB investment capital. Banks should conduct careful examination and verification and may enter the cross-border RMB payment information management system for related information.For foreign investment enterprise in the real estate handling the inward remittance of RMB capital fund for foreign direct investment, banks should also log on the website of the Ministry of Commerce to verify whether the enterprise has been filed in the Ministry of Commerce.Article 10Any foreign investment enterprise should in accordance with related provisions entrust an accounting firm to conduct capital verification and confirmation of the paid-in situation of the registered capital, contribution and RMB capital in equity paid by foreign investor. The accounting firm may issue the capital verification report after conducting the capital verification and confirmation on the bank of deposit.The bank of deposit should actively coordinate with the accounting firm, carefully check related data, specify the signature of opinion, affix the special seal with legal proof effectiveness upon receiving the confirmation letter of the bank, and make a reply within 5 working days upon the receipt of the letter.Article 11The bank should in accordance with the related administrative provisions for foreign direct investment supervise foreign investment enterprise to use the RMB capital fund by law, review the capital payment handled through the special deposit account for RMB capital fund, and shall not handle the foreign payment of RMB capital for the special deposit account for RMB capital fund without completing the formalities of capital verification.Article 12Where any foreign investor remits the RMB profits abroad, the bank may directly handle it after examining and checking the resolutions related to profits disposition, tax certificate and other related materials of the foreign investment enterprise.Article 13Where any foreign investor remits the RMB capital gained through decrease of capital, equity transfer, liquidation and recovery of investment ahead of time abroad, the bank should handle the formalities of RMB capital remittance after examining and checking the approval or filing documents of the related national departments and tax certificate.Article 14Where any foreign investor uses the RMB capital gained through distribution of RMB profits, recovery of investment ahead of time, liquidation, decrease of capital and equity transfer to reinvest or increase registered capital within China, it may deposit the RMB capital in the special account for RMB reinvestment and handle related settlement in accordance with the Measures. The bank should handle the foreign payment of RMB capital after examining and checking the approval or filing documents of the related national departments and tax certificate.Article 15Where the foreign investment company, the foreign investment venture capital investment enterprise, foreign-owned investment enterprise and foreign investment partnership with investment as main business conduct investment business in RMB within China by law, its investment enterprise should in accordance with the administrative provisions for bank settlement accounts including the Administrative Measures for RMB Bank Settlement Accounts apply for opening the special deposit account for RMB capital fund for RMB registered capital or contribution capital and to handle related capital settlement business, which shall not handle the cash receipt and payment business.Article 16Where any foreign investor uses RMB capital and foreign currency capital to make contributions simultaneously, the bank should in accordance with the Measures handle the formalities of RMB capital settlement and foreign exchange capital settlement according to related administrative provisions for foreign exchange. And the conversion exchange rate RMB and foreign currency is the central parity of RMB released by the People’s Bank of China on the day of registration and capital verification.Article 17The total scale of the foreign investment enterprise should be subject to aggregative calculation when conducting RMB lending and foreign exchange lending to foreign shareholders, affiliated enterprises in the group and foreign financial institutions.Article 18Any foreign investment enterprise should in accordance with Article 12 of the Administrative Measures for RMB Bank Settlement Accounts hold the RMB loan contract to apply for opening the general deposit account of RMB specially for the deposit of the RMB capital borrowed from abroad.Article 19The bank should review the registered capital of RMB of the foreign investment enterprise and authenticity and compliance of the purpose of RMB borrowing capital and supervise the foreign investment enterprise to utilize RMB capital by law. And in handling the settlement, the bank should in accordance withthe provisions related to prudential supervision require the enterprise to submit such materials as payment command letter and capital purpose certification and conduct careful examination and verification.Article 20Where any foreign investment enterprise uses RMB to compensate for the principal and interests of the foreign RMB borrowing, it may hold the loan contract, payment command letter and tax certificate to directly handle it in the bank.Chapter III Supervision and AdministrationArticle 21The bank should carefully fulfill the duty of information submission to submit timely, accurately and completely to the cross-border RMB settlement management system the information of the RMB bank settlement account for foreign institutions opened according to the Measures by law, special deposit account for RMB capital fund, special deposit account for RMB merger and acquisition, special deposit account for RMB equity transfer and the general deposit account of RMB as well as the information of handling cross-border and domestic receipt and payment of RMB capital through the above-mentioned accounts.Article 22The bank should in accordance with the administrative provisions for bank settlement accounts including the Administrative Measures for RMB Bank Settlement Accounts, the Implementing Rules of the Administrative Measures for RMB Bank Settlement Accounts (Yin Fa [2005] No. 16) and the Administrative Measures for RMB Bank Settlement Accounts for Foreign Institutions handle the RMB bank settlement account business for such depositors as foreign investors, foreign investment enterprises, and Chinese shareholders.Article 23The bank and foreign investment enterprise should in accordance with the Measures for the Declaration of Balance of Payment Statistics and other related provisions to handle the declaration of the balance of payment in handling RMB settlement in foreign direct investment.Article 24The bank should in accordance with the Anti-money-laundering Law of the People’s Republic of China and related provisions of the People’s Bank of China practically perform the obligation of anti-money laundering and anti-terrorist financing and prevent the illegal criminal activities of utilizing RMB settlement in foreign direct investment to conduct money laundering and terrorist financing in handling the business of RMB settlement in foreign direct investment, and also collect the anti-money laundering and anti-terrorist financing information where the foreign investor is domiciled, know about the natural person actually controlling investment and the true beneficiary of investment, evaluate the risks of money laundering and terrorist financing of investment and adopt proper measures of risk management.Article 25The People’s Bank of China and related departments shall establish the necessary information-sharing and management mechanism, intensify the strength of after-event inspection and effectively supervise and manage the RMB settlement in foreign direct investment.Article 26The People’s Bank of China, together with related departments, shall conduct the on-site inspection and offsite surveillance in the RMB settlement in foreign direct investment, the extending inspection over capital purpose on banks and foreign investment enterprises and urge banks to practically fulfill such duties as the verification of authenticity of transactions, information submission and anti-money laundering.Article 27Where the bank and foreign investment enterprise violate related provisions of the Measures, the People’s Bank of China together with related departments may circulate a notice of criticism or impose penalty on it; if the situation is serious, the bank and foreign investment enterprise shall be suspended or banned to continuously carry out cross-border RMB business.Article 28Where the bank violates the provisions related to prudential supervision in handling RMB settlement in foreign direct investment, the departments concerned shall make punishment on it by law; where it violates the administrative provisions for RMB bank settlement accounts, anti-money laundering and anti-terrorist financing, the People’s Bank of China shall be responsible for punish it by law.Chapter IV Supplementary ProvisionsArticle 29The People’s Bank of China shall be responsible to interpret the Measures.Article 30The Measures shall take effect as of the day of promulgation. And the Measures shall prevail in case of any conflict with the previous provisions concerned.。
宏观审慎 英语
宏观审慎英语Macroeconomic prudential measuresMacroeconomic prudential measures refer to policies and actions taken by government and central banks to maintain financial stability and prevent systematic risks in the economy. These measures are aimed at preventing or mitigating large-scale economic crises or disturbances.Some common macroeconomic prudential measures include:1. Controlling interest rates: Central banks adjust interest rates to influence borrowing costs, credit availability, and economic activity. By raising interest rates, central banks can reduce excessive borrowing and prevent the formation of asset bubbles.2. Implementing capital adequacy requirements: Governments and regulators establish minimum capital requirements for financial institutions to ensure they have sufficient buffers to absorb losses during economic downturns. This helps protect the financial system from potential failures and contagion.3. Strengthening liquidity risk management: Regulators may require financial institutions to hold sufficient liquid assets to meet their short-term obligations. This ensures that institutions can withstand liquidity shocks and reduces the risk of runs or panics.4. Enforcing stringent risk management practices: Supervisors may impose stricter risk management requirements on financial institutions to enhance their ability to assess and manage risks.This includes stress testing, risk modeling, and improved corporate governance.5. Monitoring and regulating systemic risks: Authorities closely monitor the financial system and identify potential risks that could have a significant impact on the economy. These risks may include large exposures to certain sectors, excessive leverage, or interconnectedness within the financial system.6. Promoting transparency and disclosure: Governments and regulators may mandate financial institutions to provide accurate and timely information about their financial positions, risks, and exposures. This helps promote market discipline and enables investors and depositors to make informed decisions.7. Enhancing supervision and regulation: Authorities strengthen their oversight of financial institutions by conducting regular examinations, audits, and inspections. They may also introduce stricter regulations and standards to ensure compliance with prudential norms.The effectiveness and appropriateness of macroeconomic prudential measures depend on various factors, including the state of the economy, the stability of the financial system, and the specific risks and vulnerabilities present. Therefore, continuous monitoring and adjustment of these measures are crucial to maintaining financial stability and preventing potential crises.。
英国金融制度
英国金融制度The financial system in the United Kingdom is well-developed and highly regarded globally. It is composed of various institutions and markets that facilitate the flow of funds within the economy. The system plays a crucial role in supporting economic growth and stability in the country.One of the key components of the UK financial system is the banking sector. The sector is dominated by several major banks, including Barclays, HSBC, Lloyds, and Royal Bank of Scotland. These banks provide a wide range of financial services, such as accepting deposits, granting loans, and offering investment products. They act as intermediaries between savers and borrowers, mobilizing funds from households and businesses and channeling them into productive investments.In addition to traditional banks, the UK also has a strong presence of investment banks and financial markets. Investment banks, such as Goldman Sachs and Morgan Stanley, provide services such as underwriting securities, mergers and acquisitions, and trading in financial instruments. These institutions play a vital role in raising capital for companies and facilitating the buying and selling of financial assets. The UK financial markets, including the London Stock Exchange and the London Metal Exchange, provide a platform for companies to raise capital through the issuance of stocks and bonds.The financial system in the UK is regulated by several authorities to ensure its stability and protect consumers. The Bank of England, as the central bank, plays a crucial role in overseeing the stabilityof the financial system. It sets monetary policy to maintain price stability and financial stability in the country. The Financial Conduct Authority (FCA) is responsible for regulating the conduct of financial firms to ensure that they operate fairly and transparently. It also aims to protect consumers and enhance the integrity of the financial markets. Additionally, the Prudential Regulation Authority (PRA) ensures that banks and other financial institutions maintain adequate prudential standards and manages any risks to their stability.The UK financial system is also supported by various financial infrastructure institutions. The payment systems, such as CHAPS and Faster Payments, enable the quick and efficient transfer of funds between different accounts. The clearing and settlement systems, operated by the London Clearing House and Euroclear UK and Ireland, facilitate the smooth clearing and settlement of financial transactions. These infrastructure institutions play a vital role in enhancing the efficiency and reliability of the financial system.Overall, the UK financial system is renowned for its stability, efficiency, and innovation. It has a comprehensive and robust regulatory framework that safeguards the interests of consumers and promotes the stability of the financial system. The sector is a major contributor to the UK economy, providing employment opportunities and financing for businesses. However, challenges remain, such as the need to enhance cybersecurity measures and address the potential risks posed by emerging technologies. The ongoing evolution of the financial system will require continuousmonitoring and adaptation to maintain its resilience and ensure its continued contribution to the UK economy.。
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• The purpose of this chapter is:
• To look at the sources and consequences of financial fragility focusing on the banking sector. • To look at the institutional safeguards the government has built into the system in an attempt to avert financial crises. • To study the regulatory and supervisory environment of the banking industry. • To examine emerging approaches to regulation that focus on the safety of the financial system rather than on individual institutions.
• In March 2008, repo lenders and other creditors stopped lending to Bear Sterns, the fifth largest U.S. investment bank. • The run halted only when the Federal Reserve Bank of New York stepped in and JPMorgan Chase acquired Bear.
• Financial systems are fragile and vulnerable to crisis. • But when a country’s financial system collapses, its economy goes with it. • When government oversight fails, the costs can be enormous.
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The Sources and Consequences of Runs, Panics, and Crises
• Banks should be no different from restaurants: new ones should open and unpopular ones close. • If a bank closes, you lose your ability to make purchases and pay your rent. • Everyone expects the government to safeguard banks. • Instead of distributing profits to shareholders, a firm can reinvest the earnings into the firm.
• Mindful of the first-come, first-served policy, people rush to the bank to get their money first.
• Such a bank run can cause a bank to fail. • No bank is immune to the loss of depositors’ confidence just because it is profitable and sound. • The largest savings bank in the U.S., Washington Mutual, failed when depositors fled in September 2008.
ห้องสมุดไป่ตู้
14-1
Financial Crisis
• Banking crises are not a recent phenomenon:
• The history of commercial banking over the last two centuries is replete with periods of turmoil and failure.
14-3
The Sources and Consequences of Runs, Panics, and Crises…cont
• Banks also promise to satisfy depositors’ withdrawal requests on a first-come, first served basis. • Reports that a bank has become insolvent can spread fear that it will run out of cash and close its doors.
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The Sources and Consequences of Runs, Panics, and Crises…cont
• That same month, withdrawals from Wachovia Bank, at the time the fourth largest U.S commercial bank, led to its emergency sale. • Quiet, invisible runs on shadow banks were even more dramatic as they punctuated the peaks of the financial crisis.
• A vast majority of investment financing comes from internal sources.
• The fact that managers have superior information about the way in which their firms are and should be run makes internal finance the rational choice.