chapter 1 金融英语阅读.ppt

Reading Course in Finance and Banking English,Chapter One,The Banking Industry in China,教学目的,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 the major tasks of the three policy banks in China,The establishment of the Peoples 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 state-owned commercial banks,which coexist and cooperate with policy banks and joint-equity commercial banks under the supervision of the central bank.,Background,It is the abbreviation of Peoples Bank of China.It is the central bank of China,and is independent of Ministry of Finance and other government agencies.It maintains a centralized organizational network with branches and sub-branches throughout the country free from interference of local governments.,PBC 中国人民银行,They are the backbones of Chinas banking system,whose reform has great meaning for the economic reform,development and stability.,Wholly state-owned commercial banks 国有独资银行,ADBCCDB Export-Import Bank of China,Policy banks政策性银行,Bank of CommunicationsChina CITIC BankChina Everbright BankHua Xia Bank,Joint-equity commercial banks股份制商业银行,With PBC as the central bank,the current banking system in China consists mainly of wholly state-owned 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、股份制商业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.,All-in-one monopolistic banking system 大一统的银行体制,Specialized banks are banks provide financial help to industries,and foreign trade.,Specialized banks专业性银行,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.,Financial institution金融机构,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.,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.,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 banks money control ability and monetary policy.,Aggregate credit 总信贷 Total amount of credit,Benchmark interest rate 基准利率 Also called the base interest rate,the minimum interest rate that investors will demand for investing in a non-Treasury security.,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.,2.PBC is duly authorized to manage monetary base,control aggregate credit and adjust benchmark interest rates as well as issue currency.译：中国人民银行掌握货币发行权、基础货币管理权、信用总量调控权和基准利率调节权。,Fiscal deficit 财政赤字 The fiscal deficit is the difference between the governments total expenditure and its total receipts(excluding borrowing).The fiscal deficit can be financed by borrowing from the central bank(which is also called deficit financing or money creation)and market borrowing(from the money market,that is mainly from banks).,Position 头寸,指银行的营业终止以后，所保有的各种外国通货的净余额。若买入多余卖出，则呈现超买（overbought）,卖出多于买入，则呈现超卖（oversold）.买卖相抵后没有余额者，称为均衡部位（equilibrium position）,Break even 收支相抵、损益两平 make neither profit nor lossLending facilities 贷款工具,3.Placing priority on both economic efficiency and social benefits,the policy banks operate in their designated areas and are not expected to compete with commercial banks.Their basic operational financial goal is to break even and only to make small profits when conditions allow.译：政策性银行注重经济效益与社会效益的结合，在特定的服务领域经营，不与商业银行竞争。银行经营管理基本目标是保本微利。,The State Development Bank(China Development Bank)Main tasks:-provide long-term loans to key state construction projects;-provide policy-related loans and interest subsidies to priority projects;-adjust the total amount and the structure of fixed-asset investment to improve investment efficiency.,Three policy banks,4.The potential recipients of the State Development Banks credit are mainly those large projects that are designed to alleviate the bottlenecks in the economy,operate in the leading industries or extend the application of advanced technology as well as those inter-regional policy-based projects.译：国有发展银行的信贷主要用于那些大型项目的建设，如缓解制约经济发展的“瓶颈”项目、支柱产业项目、高新技术在经济领域应用的项目、跨地区的政策性项目等。,The Agricultural Development Bank of ChinaMain business line-provide loans for maintaining commodity reserves;-provide loans for procurement and distribution of major agricultural products-provide loans for poverty alleviation and development projects,Three Policy Banks,Priority construction 重点建设：key constructionFixed-asset investment 固定资产投资,The Export-Import BankMain tasks:-provide export credit and loans to encourage export such as machinery,electronic products,and equipment for complete plants.,Three Policy Banks,5.The Export-Import Bank of China provides export credit and related loans to encourage export of such goods as machinery,electronic products,and equipment for complete plants.Its services include export credit insurance and guarantee as well as those aimed at facilitating economic and technical cooperation.译：中国进出口银行为机电产品和成套设备等提供出口信贷和有关贷款。业务还包括办理出口信用保险和担保，以及为经济和技术合作提供金融服务。,The main functions of CBRC:Formulate supervisory rules and regulations governing the banking institutions;Authorize the establishment,changes,termination and business scope of the banking institutions;Conduct on-site examination and off-site surveillance of the banking institutions,and take enforcement actions against rule-breaking behaviors;Conduct fit-and proper tests on the senior managerial personnel of the banking institutions;Compile and publish statistics and reports of the overall banking industry in accordance with relevant regulations;Provide proposals on the resolution of problem deposit-taking institutions in consultation with relevant regulatory authorities;Responsible for the administration of the supervisory boards of the major State-owned banking institutions;and other functions delegated by the State Council,CBRC,The regulatory objectives of CBRC:Protect the interests of depositors and consumers through prudential and effective supervision;Maintain market confidence through prudential and effective supervision;Enhance public knowledge of modern finance though customer education and information disclosure;Combat financial crimes.,CBRC,Refers to the reinforcement of the functions in relation to monetary policy.,One reinforcement,Refers to the shift in the manner in which the PBC exercises the financial macro-control and maintaining financial stability functions.,One shift,Refers to two additional functions assigned to the PBC,namely,anti-money laundering and development and regulation of credit information market.,Two additions,Financial intermediaries,It can be divided into two broad categories:Depository institutions;Nondepository institutions.,Depository Institutions,are financial institutions that accept deposits from savers and make loans to borrowers;normally,we use the term“banks”as an alternative.,Nondepository Institutions,Nondepository Institutions generate funds from sources other than deposits but also play a major role in financial intermediation.insurance companies保险公司;pension funds养老基金;finance companies财务公司;mutual funds 共同基金and securities firms证券公司.,Terminologies,UnionPay:n.银联trans-bank inquiry fee:跨行查询费emergency proposal:紧急建议standing committee:常务委员会netizen:网民hearing:听证会the Dragon Card:龙卡ATM terminal:自动提款机终端,Discussion,Do you think banks should charge a fee for trans-bank inquires?,I II IV,Homework,