对外经贸金融英语复习资料FinanceEnglish

1、Lesson 1 The Banking Industry in ChinaBackground informationThe WTO agreement: China should fully open the financial sector to foreign banks by the end of 2006.（1） State owned specialized banks：these banks are not fully commercial banks. ICBC=中国工商银行(Industrial and Commercial Bank of China) CCB =中国建设

2、银行(China Construction Bank) BOC =中国银行Bank of China ABC =中国农业银行(Agricultural Bank of China)Shareholding system for capital采取股份制Integration(综合) of banking ,insurance and securities business 业务多元化A. China Merchants Bank 招商银行B. Shenzhen Development Bank 深圳开展银行C. (Fujian) Industrial Bank兴业银行D. Guangdong

3、Development Bank广东开展银行E. China Everbright Bank中国光大银行中国光大银行成立于1992年8月，是国内第一家国有控股并有国际金融组织参股的全国性股份制商业银行。F. ShanghaiPudong Development Bank 上海浦东开展银行G. Huaxia Bank 华夏银行H. China Minsheng Banking Corp. Ltd 中国民生银行(2)三大政策性银行1984 State Development Bank Agricultural Development Bank of China Export-Import Bank

4、 of China(3)中国两大股票交易所上海证券交易所Shanghai Stock Exchange上海证券交易所成立于1990年11月26日，同年12月19日开业，为不以营利为目的的法人，归属中国证监会直接管理。深圳证券交易所Shenzhen Stock Exchange   深圳证券交易所以下简称“深交所成立于1990年12月1日，是为证券集中交易提供场所和设施，组织和监督证券交易，实行自律管理的法人，由中国证监会直接监督管理。       经国务院同意，中国证监会批准，2004年5月起深交所在主板市场内设立

5、中小企业板块。 Shenzhen Development Bank 深圳开展银行 Shanghai Pudong Development Bank 上海浦东开展银行 China Merchants Bank 招商银行 China Minsheng Bank 民生银行 Huaxia Bank 华夏银行 BOC 中国银行 ICBC 中国工商银行(4) Non-Performing Loan(NPL) 不良贷款Government bailout(紧急融资：从财政困境中解脱出来)目前中国的规定是，外资总投入不能超过中国的一家银行的25%，单独一家外资机构投资份额不能超过20%。20single fo

6、reign investor25%grouped investor三、Opening Up to Foreign Competition1. Major Foreign Banks in China（1） Union bank of Switzerland（2） Citibank（3） HSBC（4） JP Morgan Chase JP摩根大通（5） Credit Lyonnais 里昂信贷（6） Dentsche Bank 德意志银行德意志银行(Dentsche Bank)：德意志银行开展至今已经有130年的历史。为德国第一大商业银行,1998年该银行兼并了美国的Bankers Trust

7、,从而成为世界最大银行之一。在德国，德意志银行有着举足轻重的地位。德意志银行一直致力于与中国建设银行合作开发房地产抵押贷款证券化方案，目前已经通过间接方式，成功地介入了中国的住房按揭资产证券化业务。（7） Royal Bank of Scotland1. in their respective authorized business domains： 在各自授权的业务范围内2. “总部的英语单词为headquarters，注意一定要加上s，而后面连接的谓语动词要用单数。Eg: With its headquarters in Beijing, PBC maintained, as of end

8、-1996, 2450 subordinate establishments( 分支机构).3. all-in-one monopolistic banking system= Monobank system4. engage in = perform/carry out5. specialized banks=专业银行6. 表示“宏观调控的三种说法：macroeconomic management/adjustment/controlEg: In order to strengthen the central banks capacity for macroeconomic manageme

9、nt, the State Council made a decision in 1984 for PBC t function as central bank.7. take place= to be founded/emergeEg: A central banking system began to emerge.8. fledgevi.grow feathers necessary for flightvt.cover with the featherEg:（1） The bird fledges.小鸟会飞了。（2） He fledged his hat.他在自己的帽子上插上了羽毛装饰

10、。（3） After a 10-year operation, our company is full-fledged.（4） A seminar ( 研究会，讨论会)is held to promote the development of Chinas fledging social security sysytem.（5） The fledging singer is rather popular with the audience.9. 在某年的下半年的表达法：（1） in the latter half of 1993（2） in the second half of 199310.

11、 formulate= set/lay downimplement=carry out 实施11. 表示“监管的词Regulation/control/oversight/supervision/ surveillance12. The central bank law provides that PBCs basic functions are to conduct monetary policy and supervise the financial system under the leadership of the State Council.在上句中，provide(规定：作为规定而

12、确定下来)=stipulate(规定, 保证)/specify(指定, 详细说明, 列入清单)/define/state13. 不同的“管理有不同的专用词，表示行政上的管理用regulate/control,表示业务上的管理用manage.14. foreign exchange reserves: foreign currency assets held by central bank, eg ￥.15. fiscal agent(财务代理)：bank or trust company which handles fiscal (财政的, 国库的, 会计的)matters for a gov

13、ernment or corporation.16. shall在某些情况下做法律用语，翻译时可以不必译出。Eg: Specifically, PBC shall formulate and implement monetary policy.28.duly(适时地，恰当地)properly monetary base = 根底货币Eg: PBC is duly authorized to manage monetary base.17. monetary base/ high-power money : central bank holdings of domestic credit plu

14、s foreign exchange reserves or the sum of currency and total bank reserves.18. aggregate (合计的, 集合的, 聚合的) credit: total amount of credit/loans made to government institutions ,business and general public.19. benchmark interest rate(根底利率)：minimum interest rate set by authorized agency, usually central

15、 bank, to reflect(反映, 表现)monetary policy.20. immediate subordinate body = 直属机构21. State Administration of Foreign Exchange = 国家外汇管理局22. be entrusted(委托) with= be authorized to manageEg: The State Administration of Foreign Exchange is entrusted with foreign exchange administration.23. As provided by

16、the Law, no government agencies at any level may interfere(干预, 干预, 阻碍, 打搅)in PBCs performance of its functions.其中, as provided by= According to = Based on 24. 注意以下两个介词搭配Be independent ofBe dependent on/uponEg: PBC is independent of the Ministry of Finance and other government agencies.25. fiscal def

17、icits(赤字，缺乏额)： losses incurred(招致) as a result of government expenditure exceeding budget.26. PBC is prohibited( 禁止) from financing fiscal deficits.中国人民银行不被允许向财政部透支。27. PBC maintains a centralized organizational network with branches and sub-branches throughout the country free from interference of

18、local governments.其中：centralized organizational network with branches and sub-branches集中管理的分支机构网络Free from = without28. 表示“职责的四个通用词：Responsibilities Tasks Functions Duties29. position（1） n.the place occupied by sb.or sth. Eg: Can you find out our position on the map? Their villa( 别墅) is in a picture

19、sque position.（2） A persons relative rank in society; ones social status.Eg: He looks down upon people in positions of power. He has got a good position with a local bank.（3） Financial circumstances/standing 财务状况、头寸Eg: We are not in a position to repay the loan yet. Will you take a long position or

20、short position? 你是要做多头还是空头？/你是要买进还是卖出？（4） Attitude, viewpoint, standEg: Dont take a radical position on this issue. 不要对这个问题持激进态度。 You should not shift your position.41.balance the positions of financial institutions 平衡资金头寸management of the state treasury 代理国库inter bank payment and settlement 银行间联行清算

21、效劳30. finance We finance the purchase of new equipment through new issuance of stock.(发行新股) The Lunar New Year Gala is mainly financed by the government.表示“为提供资金的其他词组：To provide finance/funds/loans/credit for sth.Make/advance loans to sb.for sth.Offer /supply credit to sb. for sth.31. In order to ac

22、celerate the transformation of state-owned specialized banks into full-fledged commercial banks and to increase the flexibility and capacity of the central bank for macro-economic management, China established three policy banks in 1994.其中， accelerate= speed up Transformation=gradual change Flexibil

23、ity and capacity= efficiency32. fixed-asset investment: investment in buildings ,plants, machinery, equipment, tools, etc.33. mark the initial separation of A and B 标志着A和B的初步别离eg: Their establishment marked the initial separation of policy-related operations from commercial banking business.45. econ

24、omic efficiency and social benefits 经济效益和社会效益46.break even = make neither profit nor lost 不赔不赚，保本47.make small profits 微利48.embark(着手，从事) on a steady track of development= enter a stage of steady development Eg: They have embarked on a steady track of development.49.total v. = have a total of Eg: It

25、s assets totaled RMB 280 billion yuan at end-1996.= Its assets had a total of RMB280 billion yuan at end-1996.41 modity reserves: consumer goods set aside for future use. Discounting Reserve requirements Open operations43. exerciseV. to use /practice To exercise good judgement运用正确的判断力 To exercise se

26、lf-control采取自我控制 To exercise power运用职权 To exercise influence on them To exercise my constitutional rights行使宪法赋予我的权力v.to carry out /conduct to exercise ones duties 履行职责 to exercise thrift力行节俭44. Money laundry: an act of legitimizing unlawful resources.45.Through monitoring a set of indicators, ADBC e

27、nsures that loans are put to designated uses 专款专用and are duly repaid期满还款46. These large projects are designed to alleviate the bottlenecks in the economy.其中，alleviate = reduce /lessen47. bank run 银行挤兑Unit 3 The Financial SystemBackground knowledge about the financial system1. Terminology(The vocabul

28、ary of technical terms used in a particular field, subject, science, or art; nomenclature.术语：用于特定领域、主题、科学或艺术的术语词汇；学名)Financial system: system that allows people to engage in economics transactions(交易，业务).· Bank loans-short/medium/long-term· Bonds 债券n Corporate bonds ü Secured bonds(担保

29、债券)ü Unsecured bonds/debentures(无担保债券)n Government bondsü Treasury notes and bonds(国债)ü Municipal bonds(市政债券)· Equity(stock/share)n Common stock/ordinary sharesn Preferred stock/preference sharesn Convertible notes (quasi-equity instrument)可转换债券准股票As transfer of risk· Insura

30、nce contracts/policies· Derivative securities/instruments: value based on /derived from value of underlying assets(根底资产)n Forwards contract(远期合约)n Futures contract期货n Options contract期权n Swaps agreement互换（1） Depository institutions (存款金融机构)A. Commercial banks · Services to firms and indivi

31、duals· Major business: deposit taking, credit lending and so on.B. Savings banks: Services to households and individualsC. Depository credit union(信用社，互助会)：services to members（2） Nondepository institutions非存款金融机构A. Investment banks投资银行 By maturity(票据或证券等的到期时间): money vs. capital markets By deli

32、very(交割时间)：spot(现期市场)vs futures markets(期货市场) By issuance(发行时间): primary vs. secondary markets By trading location: organized/centralized exchange(场内交易市场) vs over-the-counter(OTC) markets场外交易市场/柜台交易市场7.central bank（1） As governments bank Provide financial and depository services Act as fiscal (国库的：政

33、府开支、收入和债务的或与之有关的) agent A. Manage FX and gold reservesB. Issue(发行), service(偿付) and redeem(赎回) nations debtC. Issue currency（2） As bankers bank Provide loans during financial stress Manage payments systemA. Prevent systemic failures/bank runs (when clients liquidate deposits)B. Be lender of last res

34、ort Oversee financial institutions and markets（3） As monetary policymakerCentral banks three financial instrumentsa) Discount rate(贴现率)：interest rates charged on advances/loans to private banks· Lower discount rate-increase money supply-boost economy· Raise discount rate -reduce money supp

35、ly -slow down economyb) Open-market operations: central bank purchased/sales of governments/private securitiesu Outright transaction 现券交易u Repurchase agreement transaction (Repo) 回购协议9.Money market instruments（1） Treasury bills 短期国库券（2） Repurchase agreements/reports回购协议（3） Negotialbe certificates of

36、 deposit/CD大额可转让存单（4） Bankers acceptances银行承兑汇票（5） Commercial bills/papers商业票据（6） Secured and unsecured notes（7） Short-term loans（8） Intercompany loans（9） Interbank loansSatisfactory payments facilities are something which we are inclined nowdays to take for granted, but productive economic activity

37、 is dependent on ther existence ,and indeed on traders having reasonable access to short-term credit facilities.现在我们总是把令人满意的支付工具视为理所当然的，但是高效的经济活动要依赖于它们的存在，而且确实依赖于商人们获得短期信用工具的合理途径。a) Important as payments facilities are, they will receive relatively slight consideration here.b) Although payments faci

38、lities are important, they will receive relatively slight consideration here.c) Although payments facilities are important, they will not be discussed here in detail.12.the allocation of A to B 把A分配给BA properly developed and smooth-running financial system raises the levels of saving and investment

39、and provides incentives for the allocation of the available resources to those uses where they are likely to give the highest returns.“拒绝的四个词，意味从强到弱，依次为：（1） RejectThe British government is expected to reject the idea of State subsidy(补助金，津贴) for a new high speed railway.（2） RefuseHe refused to comme

40、nt after the trial.（3） Turn downWould you turn down $7,000,000 to apper nude(裸体的) in a magazine?（4） DeclineHe declined their invitation.By their very nature financial institutions attract criticism: bankers would not be doing their jobs if they did not turn down some requests for loans, and those wh

41、o are denied funds sometimes feel hard done by and are vociferous in their complaints.金融机构天生就容易招致批评：如果银行不拒绝几份贷款请求就会被认为是没有尽职，同时那些被拒绝的人又会时时觉得遭遇了不公平的待遇，抱怨不断。在上句中，by their very nature =as a result of their own characteristics feel hard done by =have a feeling of being treated unequallyThe control which

42、financial institutions wield over very substantial sums of money also attracts the attention of governments, partly because they may see irresistible opportunities to secure cheap finance for favored borrowers (notably governments themselves) , and partly in view of the economic power attached to co

43、ntrol of finance.金融机构掌管大量金钱同样也引来政府部门的眼光，一方面是因为它们从中看到了可以为自己偏爱的借款人尤其是政府本身获取低廉融资的不可抗拒的时机，另一方面是因为金融管理中所附带的经济权力。在上句中，favored= most- liked in view of = because of attached to = coming from / derived from What matters is not the shapes of the individual pieces, but how well the jigsaw fits together and the

44、 quality of the picture that emerges.重要的不是每一片的形状，而是整幅拼图是否片片匹配，呈现出的图画是否吻合。Paraphrase:（1） What matters is not the performance of separate finance institutions and markets, but how well the whole financial system operates, and the efficiency it exhibits as a whole.（2） What matters is not the pulses of

45、individual notes, but how well the rhythms fits together and the euphoniousness of the sinfonia that presents.17.a good deal of + u. n. a lot of + u. n./uc. n 18.on other occasions= in other situations = under those circumstances19.Types of bank deposits（1） Demand/checking/transaction deposit 活期存款De

46、mand deposit 个人的活期存款transaction deposit 企业的活期存款工具：· Checkbook 支票簿· Debit card 借记卡（2） savings deposit储蓄存款工具：passbook 银行存折（3） time/term deposit定期存款工具：· Passbook· Certificate of deposit20. In addition financial intermediaries provide a variety of specific services which savers and b

47、orrowers value in their own right.其中，in their own right = based on their own needs21.money transmission facilities资金汇送工具Financial means that facilitate the flow of funds. Eg:· Checks· Draft/bill of exchange· Money order22.corporate finance公司理财Financial decisions regarding fund raising

48、, business expansion, mergers and acquisitions ,financial planning, cash management and so on.“因为的词有：because, since, as, for.24.put sb. in touch with = put sb. in contact with25.futures markets和stock markets是最典型的有形市场。26.翻译:It is the ultimate savers and ultimate borrowers who are, as it were, on the

49、periphery of the financial system, whose needs it serves and who provide the rationale for its existence.最终储蓄人和最终贷款人处于金融体系的边缘，金融体系为其需求效劳，他们是金融体系存在的根本理由。“起伏、盛衰的词组：（1） Booms 繁荣and slumps衰退，失败经济繁荣与萧条之交替循环（2） Booms and busts失败，破产，萧条时期经济繁荣与萧条之交替循环（3） Ups and downs（4） Rise and fall注：以上用复数的地方都可以改为单数，booms

50、and busts 比 booms and slumps更加正式和地道。28.Sharp expansions or contractions收缩，紧缩，萧条时期 of activity in financial markets are often associated with booms and slumps in the economy at large, and the intimate connection between money, credit and economic stability compels countries to curb抑制 the expansion of

51、 credit in some periods and to stimulate it in others.在上句中，at large= taken all together/ as a whole/ in general Intimate connection= very close relationship Compel = force Curb = control/ restrain29.deal in = trade in 经营Eg: The financial system deals in financial instruments.30.be entitled to sth.=

52、to have the right to demand sth.Eg:（1） Every citizen is entitled to equal protection under the law. 每个公民都有权依法受同等保护。（2） The coupon entitles the bearer to a 25 percent savings.债券占其所有人存款总额的25%。（3） In most instances asset is entitled to repayment at a specified time, and receives a promise of some inter

53、est, share of profits , or other service as compensation补偿，赔偿 for the loan.31.as compensation for sth. 作为的补偿Eg: He received one years salary as compensation for loss of office.32.repay on demand 随时归还 bear interest= carry on obligation to pay interestEg: Deposits are liabilities of banks or other ins

54、titutions ,are generally repayable on demand or in the fairly near future, and usually bear interest.33.predetemined(预定的，预先确定的)agreed uponCarry / bear an obligation to do sth.Eg: Loans are often liabilities of ultimate borrowers, are usually repayable by the end of some predetermined period, and car

55、ry an obligation to pay interest.34.confer授予 on sb. the right to do sth.Eg: Ordinary shares are liabilities of firms ,which confer on their owners the right to a share of the profits earned but, in contrast with loans, do not have to be repaid.35. as well as = in addition to Eg: As well as claims th

56、ere are also derivative instruments- contracts relating to the prices of securities, interest rates or foreign exchange rates at some date in the future.36.susceptibility: the ability to be influenced 敏感度37.重要句型：A distinction can be drawn between A and B.Eg: A distinction can be drawn between on the one hand deposits and loans, w