经济金融 主讲：罗玲.

Presentation on theme: "经济金融 主讲：罗玲."— Presentation transcript:

1 经济金融 主讲：罗玲

2 不景气 slump （衰退 recession）
中国创业板 China Growth Enterprise Market 首次上市 IPOs (initial public offering) 市场资本总额 market capitalization 内部股（非上市招股） private company shares 法律风险 legal risk 风险管理 risk management 坚持严格的贷款标准 maintain strong underwriting standards 牛市 bull market

3 六大风险 risks in 6 key areas (U. S
六大风险 risks in 6 key areas (U.S. Federal Reserve criterion) 信用风险 credit risk 第一产业（农业） agriculture (primary industry) 第二产业（工业） manufacturing industry (secondary industry) 第三产业（服务业） service industry (tertiary industry)

4 主要经济指标 major economic indicators 国内生产总值 GDP gross domestic product （商品和劳务币值总和，不包括海外收入支出） 国民生产总值 GNP gross national product（商品和劳务币值总和，包括海外收入支出） 人均国内生产总值 GDP per capita 宏观经济 macro economy 互助基金 mutual fund 扩大内需 expand domestic demand

5 改善居民心理预期 inspire the general public's confidence in the future needs
鼓励增加即期消费 encourage more immediate consumption 长期国债 long-term treasury bonds 财政赤字和债务 deficits and the national debt 经常项目顺差 favorable balance of current account, surplus of current account 开办人民币业务 engage in Renminbi (RMB) business

6 出口退税制度 the system of refunding taxes on exported goods 分期付款 pay by installment 抵押贷款 collateralized loans 住房抵押贷款 residential mortgage loan 货币主义者 monetarist

7 计划经济 planned economy 指令性计划 mandatory plan 技术密集型 technology intensive 大规模生产 mass production 跟踪审计 follow-up auditing 流动性风险 liquidity risk 操作风险 operational risk

8 内部审计 internal audit 抛售 bear sales 配套政策 supporting policies 中国人民银行（中央银行）The People’s Bank of China（central bank） 招商银行 China Merchants Bank

9 四大国有商业银行 4 major state-owned commercial banks 中国银行 Bank of china 中国工商银行 Industrial and Commercial Bank of China（）and 中国建设银行 Construction Bank of China 中国农业银行 Agricultural Bank of China

10 疲软股票 soft stock 配股 allotment of shares
实际增长率 growth rate in real terms 年均增长率 average growth rate per annum 投资回报率 rate of return on investment 外贸进出口总额 total foreign trade value

11 实际利用外资 incoming overseas capital (investment) in place 消费价格指数 consumer price index (CPI) 零售价格指数 retail price index （RPI） 生活费用价格总指数 total price index of living cost 生活费用 income available for living expenses 扣除物价因素 in real terms / on inflation-adjusted basis 居民储蓄存款 residents’ bank savings deposit

12 片面追求发展速度 excessive pursuit of growth 泡沫经济 bubble economy 经济过热 overheating of economy 通货膨胀 inflation
实体经济 the real economy 经济规律 laws of economics 市场调节 market regulation 优化资源配置 optimize allocation of resources

13 规模经营优势 advantage of economies of scale 劳动密集型 labor intensive
市场风险 market risk 收紧银根 tighten up monetary policy 适度从紧的财政政策 moderately tight fiscal policy 信用紧缩 credit crunch

14 启动民间投资 attract investment from the private sector 适销对路的产品 the right products / readily marketable products 国有企业 state-owned enterprises (SOEs) 集体企业 collectively-owned (partnership) enterprises 私营企业 private businesses 民营企业 privately-run businesses 中小企业 small-and-medium-sized enterprises 三资企业（中外合资、中外合作、外商独资） overseas-invested enterprises; foreign-invested enterprises (Chinese-overseas equity joint ventures, Chinese-overseas contractual joint ventures, wholly foreign- owned enterprises)

15 存款保证金 guaranty money for deposits 货币回笼 withdrawal of currency from circulation 吸收游资 absorb idle fund 经常性贷款 commercial lending 经常性支出 operating expenses 再贷款 re-lending; subloan 支持国有大型企业和高新技术企业上市融资 support large state-owned enterprises and high and innovative technology companies in their efforts to seek financing by listing on the stock market

16 改制上市 An enterprise is re-organized according to modern corporate system so that it will get listed on the stock market. 进一步规范和发展证券市场 further standardize and develop the securities market 增加直接融资比重 increase the proportion of direct financing 完善股票发行上市制度 improve the system for IPO and listing on stock markets 中国证监会 China Securities Regulatory Commission (CSRC)

17 深圳证券交易所市 Shenzhen Stock Exchange 上海证券交易所 Shanghai Stock Exchange 综合指数 composite index 纳斯达克（高技术企业板） NASDAQ （National Association of Securities Dealers Automated Quotation 主板市场 the main board 通货紧缩 deflation

18 中国现代化建设分三步走的战略the three-step development strategy of China’s modernization drive第一步，到1990年国民生产总值比1980年翻一番 Step One: GDP of 1990 doubles that of 1980.第二步，到2000年人均国民生产总值比1980年翻两番，人民生活达到小康水平 Step Two: GDP of 2000 quadruples that of 1980; people live a fairly comfortable life.第三步，到21世纪中期建国100周年时，达到中等发达国家水平 Step Three: By the year 2049, the 100th anniversary of the P.R.C., China’s level of development is expected to be on par with the mid-ranking developed countries 与世界经济的联系将更加紧密 be more closely linked to the world economy

19 中国巨大的市场潜力将逐步转化为现实的购买力 The huge market potential that China enjoys will be turned into tangible purchasing power. 适应市场经济需要的法律法规体系还不够健全 The regulatory and legal system is not well established as to adapt to the demand of market economy. 经济管理体制可能会出现一些不适应 The economic management system may not be readily adapted to the changes. 一些行业和企业可能会受到冲击 Some sectors of economy and some businesses may be adversely affected. 立足中国国情，发挥自身优势 proceed from national conditions in China and bring our advantages into play

20 扬长避短，趋利避害，迎接经济全球化的挑战 foster strengths and circumvent weaknesses and rise to the challenge of economic globalization 瓶颈制约 bottleneck constraints 放权让利 decentralization and interest concessions (in late 1980s and early 1990s) 深化改革 intensify reform; deepen one’s commitment to reform 配套改革 supporting (concomitant) reforms 配套资金 counterpart funds; local funding of

21 提高经济效益 improve economic performance; increase economic returns 讲求社会效益 value contribution to society; pay attention to social effect 加速国民经济信息化 develop information-based economy accelerate IT application in economy 拉动经济增长 fuel economic growth 利改税 substitution of tax payment for profit delivery

22 朝阳产业 sunrise industry 招标投标制 the system of public bidding for project 充分发挥货币政策的作用 give full play to the role of monetary policy 实施积极的财政政策 follow a pro-active fiscal policy 向银行增发国债，扩大投资 The government issued additional treasury bonds to banks to increase investment. 再注资 recapitalization 放松银根 to ease monetary policy 信息经济 IT economy

23 外向型经济 export-oriented economy
信息时代 information age 全球化 globalization （全球性globality） 信誉风险 reputational risk 风险评级 risk rating 到期不还贷 default on a loan 资不抵债 insolvency; be insolvent

24 亚洲金融危机 Asian financial crisis ( ) 投资（贷款）组合 investment (loan) portfolio 外汇储备充足 sufficient foreign exchange reserves 中国金融业问题 problems with financial sector in China 储蓄比例过高 the excessively large proportion of savings in the money supply

25 国有企业产负债率过高 high leverage ratio of the state-owned enterprises, 国有独资商业银行不良资产比例过高 high ratio of non-performing loans of the state commercial banks 少数中小存款金融机构不能支付到期债务 insolvency of a handful of small and medium-sized financial institutions 不良贷款 non-performing loans 防范和化解金融风险 address financial risks

26 提高企业借贷和行使民事责任的能力 improve enterprises’ creditworthiness and ability to fulfil their civil liabilities 监事会 supervisory board 实行谨慎会计制度 adopt prudential accounting standards 五级分类法划分贷款质量 the five-category asset classification approach 金融资产管理公司 financial asset management companies

27 分离和收回不良资产 substantially reduce the ratio of non-performing assets 分业管理、规模经营 business segregation, economy of scale 规范金融机构市场退出制度 improve the market exit mechanism for financial institutions 政策性银行 state policy-related bank 国家发展银行 State Development Bank 知识经济 knowledge-based economy 网络经济 Internet-based networked economy 指导性计划 guidance plan

28 社会主义市场经济（中国） socialist market economy 社会市场经济（德国） social market economy 新经济（美国） new economy
中国光大银行 Everbright Bank of China 中国民声银行 China Minsheng Banking Corporation Ltd. 中信实业银行 CITIC Industrial Bank 中国进出口银行 China EXIM Bank 汇丰银行 Hong Kong and Shanghai Banking Corporation (HKSBC)

29 金融监管 financial supervision 中国人民银行法 Law of the People’s Bank of China 商业银行法 Law of Commercial Banks 保险法 Law of Insurance 证券法 Law of Securities 监管对象的行为有问题、管理机制不健全 problems of supervised entities’ behavior and the unsound internal governance mechanism 风险意识 consciousness of risk prevention 事前监管 proactive regulation and supervision

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31 account number 帐目编号 depositor 存户 pay-in slip 存款单 a deposit form 存款单 a banding machine 自动存取机 to deposit 存款 deposit receipt 存款收据 private deposits 私人存款 certificate of deposit 存单

32 deposit book, passbook 存折 credit card 信用卡 principal 本金 overdraft, overdraw 透支 to counter sign 双签 to endorse 背书 endorser 背书人 to cash 兑现 to honor a check 兑付 to dishonor a check 拒付

33 to suspend payment 止付 check 支票 check book 支票本 order check 记名支票 bearer check 不记名支票 crossed check 横线支票 blank check 空白支票 rubber check 空头支票 check stub, counterfoil 票根 cash check 现金支票

34 traveler's check 旅行支票 check for transfer 转帐支票 outstanding check 未付支票 canceled check 已付支票 forged check 伪支票 Bandar's note 庄票，银票 banker 银行家  president 行长

35 local bank 本地银行 domestic bank 国内银行 overseas bank 国外银行 unincorporated bank 钱庄 branch bank 银行分行 trust company 信托公司 financial trust 金融信托公司 unit trust 信托投资公司

36 self-service bank 无人银行 general ledger 总帐 subsidiary ledger 分户帐 cash book 现金出纳帐 cash account 现金帐 journal, day-book 日记帐，流水帐 bad debts 坏帐 investment 投资 surplus 结余 idle capital 游资

37 economic cycle 经济周期 economic boom 经济繁荣 economic recession 经济衰退 economic depression 经济萧条 economic crisis 经济危机 economic recovery 经济复苏

38 inflation 通货膨胀 deflation 通货收缩 devaluation 货币贬值 revaluation 货币增值 international balance of payment 国际收支 favorable balance 顺差 adverse balance 逆差 hard currency 硬通货  soft currency 软通货 international monetary system 国际货币制度 the purchasing power of money 货币购买力

39 money in circulation 货币流通量 note issue 纸币发行量 national budget 国家预算 national gross product 国民生产总值 public bond 公债 stock, share 股票 debenture 债券 treasury bill 国库券 debt chain 债务链

40 discount 贴现 discount rate, bank rate 贴现率 gold reserve 黄金储备 money (financial) market 金融市场 stock exchange 股票交易所 broker 经纪人 commission 佣金 bookkeeping 簿记

41 bookkeeper 簿记员 an application form 申请单 bank statement 对帐单 letter of credit 信用证 strong room, vault 保险库 equitable tax system 等价税则 specimen signature 签字式样 banking hours, business hours 营业时间 share, equity, stock 股票、股权

42 negotiable share 可流通股份
treasury /government bond 国库券/政府债券 closed-end securities investment fund 封闭式证券投资基金 open-end securities investment fund 开放式证券投资基金 market capitalization 市值 mark-to-market 逐日盯市 clearing and settlement 清算/结算 put / call option 看跌/看涨期权

43 institutional investor 机构投资者
proprietary trading 自营 market manipulation 市场操纵 IPO(Initial Public Offering)新股初始公开发行 securities 证券 premium 溢价 share capital 股本 composite index 综合指数 capital market 资本市场

44 liquidity 流通性 subscribe 申购 underwriter承销商 primary market 一级市场 information disclosure 信息披露 blue chips 蓝筹股 rating agency 评级机构 credit trading 信用交易 open/close a position 建/平仓

45 bond, debenture, debts 债券
convertible bond 可转换债券 corporate bond 企业债券 fund manager 基金经理/管理公司 fund custodian bank 基金托管银行 p/e (price/earning) ratio 市盈率 commodity/financial derivatives 商品/金融衍生产品 margins, collateral 保证金

46 bonus share 红股 dividend 红利/股息 retail / private investor 个人投资者/散户 broker/dealer 券商 insider trading/dealing 内幕交易 prospectus招股说明书 merger and acquisition收购兼并 warrant 认股权证

47 raised capital/proceeds 筹资
turnover rate 换手率 monetary market 货币市场 issuer 发行人 intermediary 中介机构 controlling shareholder 控股股东 red chips红筹股 junk bond 立即债券 securities loan 融券