chapter 1 金融英语阅读

ADBC CDB Export-Import Bank of China
Bank of Communications China CITIC Bank China Everbright Bank Hua Xia Bank
1. With PBC as the central bank, the current banking system in China consists mainly of wholly stateowned commercial banks, which coexist and cooperate with policy banks and joint-equity commercial banks operating in their respective authorized business domains.
译：现已形成以中国人民银行为中央银行，国有独资商业银行 为主体，政策性银行、股份制商wk.baidu.com银行等银行机构并存、 分工协作的银行业体系。
Performing as central bank and being engaged in commercial bank business.
Specialized banks are banks provide financial help to industries, and foreign trade.
➢ the major tasks of the three policy banks in China
The establishment of the People’s Bank of China (PBC) in 1948 marked the beginning of a new chapter in the Chinese banking history. Through half a century of evolution, China has developed a banking system as mainly of the wholly stateowned commercial banks, which coexist and cooperate with policy banks and joint-equity commercial banks under the supervision of the central bank.
The Banking Industry in China
By the end of the chapter, students should be able to know about
➢ the development of the banking industry in China
➢ the structure of the central banking system
Monetary base 货币基础
Also termed the high-powered money, usually, the currency and central bank deposits that together provide the base for the money supply under fractional reserve banking. It is often used as a guide for the central bank’s money control ability and monetary policy.
Fiscal agent 财政代理
An organization, such as a bank or trust company, that takes responsibility for the fiscal duties of an unrelated party. Here the central bank acts as an agent empowered to collect taxes, revenues, and duties on behalf of the government.
It maintains a centralized organizational network with branches and sub-branches throughout the country free from interference of local governments.
They are the backbones of China's banking system, whose reform has great meaning for the economic reform, development and stability.
It is the abbreviation of People’s Bank of China.
It is the central bank of China, and is independent of Ministry of Finance and other government agencies.
It is an institution that provides financial services for its clients or members. Probably the most important service provided by financial institutions is acting as financial intermediaries.
Foreign exchange reserves 外汇储备
Foreign exchange reserves are the foreign currency deposits held by national banks of different nations. These are assets of Governments which are held in different hard currencies such as Dollar, Sterling, Euro and Yen.