VOA标准英语2009年-China Now Allowing Some Companies to Settl
时间：2019-01-14 作者：英语课 分类：VOA标准英语2009年(七月)
Some companies in Hong Kong, Macau and Southeast Asia can now do business in China's currency, in the latest move to internationalize the yuan. A new program allows some importers and exporters to settle trade in China's currency, the yuan, beginning this week.
Kelvin Lau is the regional economist 1 at Standard Chartered Bank Hong Kong. He says the agreement allows businesses in Hong Kong, a Chinese territory, to carry out more business in the yuan, or CNY, and this should help earnings 2.
"All these will help Hong Kong to complete its business capability 3 and to achieve the longer term goal of being China's offshore 4 CNY financial center," he said.
Lau says this is a step toward making the yuan a reserve currency in Asian banks.
Shoppers in Hong Kong buy discount clothes 'Made in China', 7 Jul 2009
It also should cut foreign exchange costs for exporters and importers, who before had to settle trade deals with Chinese companies in foreign currencies, usually dollars.
The People's Bank of China and the Hong Kong Monetary 5 Authority agreed on the program last week. It permits Hong Kong companies to trade in yuan in five Chinese cities: Shanghai, Guangzhou, Shenzhen, Dongguan and Zhuhai.
The program also allows some companies in the Chinese territory of Macau and in Southeast Asian nations to settle trade in yuan.
The Bank of China in Hong Kong conducted the first cross-border yuan trade settlement with the Bank of China in Shanghai on Monday. The Bank of China is the country's largest foreign exchange bank.
Lau says the program's is likely to have only a marginal effect on business for now.
In 2003, Hong Kong banks were permitted to take yuan-denominated deposits and exchange yuan for Hong Kong dollars. At present, more than 50 billion yuan is deposited in Hong Kong banks.
Because of the global economic crisis, China has complained this year about the U.S. dollar's role as the world's dominant 6 reserve currency. The dollar has fallen in value against other currencies, reducing the value of China's vast foreign currency reserves, most of which is in dollars.
However, many economists 7 and foreign exchange experts note that since China closely controls the yuan's exchange rate, and has not made the currency fully 8 convertible 9 in international markets, it has limited room to shift away from the dollar.
- He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
- He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。
- That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
- Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。
- She has the capability to become a very fine actress.她有潜力成为杰出演员。
- Organizing a whole department is beyond his capability.组织整个部门是他能力以外的事。
- A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
- A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。
- The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
- Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。
- The British were formerly dominant in India.英国人从前统治印度。
- She was a dominant figure in the French film industry.她在法国电影界是个举足轻重的人物。
- The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
- Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》
- The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
- They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。
- The convertible sofa means that the apartment can sleep four.有了这张折叠沙发，公寓里可以睡下4个人。
- That new white convertible is totally awesome.那辆新的白色折篷汽车简直棒极了。