金融英語(yǔ)課件5

1、Chapter 5The Banking Industry in China共三十三頁(yè)The teaching purpose of this chapterBy the end of the chapter, students should be able to know about the development of the banking industry in Chinathe structure of the central banking systemthe major tasks of the three policy banks in China.Copyright 2010

2、 Pearson Education, Inc. Publishing as Prentice Hall2共三十三頁(yè)The evolution of the Chinese banking system can be broadly divided into three phases:1) Phase1: All in one monopolistic banking system=Monobank system (began in 1949) 一元銀行體制/大一統(tǒng)銀行體制The establishment of the Peoples Bank of China (PBC) in Decem

3、ber 1948 marked the beginning of the first phase, which was characterized by a mono-bank engaged in both policy and commercial banking operations.PBC在此階段(jidun)擔(dān)任中央銀行和商業(yè)銀行的雙重角色。mark the beginning of 標(biāo)志著 的開(kāi)始PBC=central and commercial bank; Bank that make monetary policy; Bank that make foreign exchan

4、ge policyCopyright 2010 Pearson Education, Inc. Publishing as Prentice Hall3共三十三頁(yè)2) phase 2:Two-Tier System (began in 1984) 二元銀行體制(tzh)The second phase began in 1984 when the State Council（國(guó)務(wù)院）decided to make the PBC function as a central bank. Fours specialized banks ( the Industrial and Commercial

5、 Bank of China, the Agricultural Bank of China, the Bank of China, and the China Construction Bank) were established and took over part of PBC business activities. specialized banks=專業(yè)銀行；take over = replaceCopyright 2010 Pearson Education, Inc. Publishing as Prentice Hall4共三十三頁(yè)A central banking syst

6、em began taking shape, but the transformation of the PBC into a full-fledged central bank has turned out to be a lengthy process.full-fledged: 成熟(chngsh)的，鞏固的transformation=gradual changeLengthy: 漫長(zhǎng)的，冗長(zhǎng)的Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall5共三十三頁(yè)3) phase3: Joint-stock &

7、policy banksA: Joint stock commercial banks/Joint-equity commercial banks/share holding commercial banks 股份制商業(yè)銀行The first joint-stock commercial bankBOCOM=交通銀行（Bank of Communications）The first joint-stock bank-1987Initially founded in 1908SignificanceShareholding system for capital采取(ciq)股份制Integrat

8、ion(綜合) of banking ,insurance and securities business 業(yè)務(wù)多元化Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall6共三十三頁(yè)Other joint-stock commercial banksChina Merchants Bank 招商銀行China CITIC Bank 中信銀行Shenzhen Development Bank 深圳發(fā)展銀行(Fujian) Industrial Bank 興業(yè)銀行Guangdong Development Bank廣東

9、發(fā)展銀行China Everbright Bank 中國(guó)光大銀行Shanghai Pudong Development Bank 上海浦東發(fā)展銀行Huaxia Bank 華夏銀行China Minsheng Banking Corp. Ltd 中國(guó)民生銀行Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall7共三十三頁(yè)B: 三大(sn d)政策性銀行State Development BankAgricultural Development Bank of ChinaExport-Import Bank of Ch

10、inaThree policy banks (the State Development Bank, the Agricultural Development Bank of China and the Export and Import Bank of China) were established in 1994 to facilitate the separation of policy banking from commercial banking operations.Copyright 2010 Pearson Education, Inc. Publishing as Prent

11、ice Hall8共三十三頁(yè)4) Phase 4:Multi-Tier SystemThe fourth phase began in 1993 when the State Council issued the Decision on Financial Reform. The PBC did not have a clear legal status until the enactment of the Law of the Peoples Bank of China in March 1995. The law provides the key functions of PBC.Copy

12、right 2010 Pearson Education, Inc. Publishing as Prentice Hall9共三十三頁(yè)Through years of reform efforts, China has developed a banking system consisting mainly ofthe wholly state-owned commercial banksandjoint-equity commercial banksunder the supervision of the central bank. As of the end of 2000, China

13、s banking system hadthree policy banks, four wholly state-owned commercial banks and more than 100 joint-equity commercial banks. The non-bank financial sector mainly consisted oftrust and investment companies, securities firms,finance companiesandinsurance firmsas well as manyurban and rural credit

14、 cooperatives.Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall10共三十三頁(yè) Structure of Chinas Banking SystemCopyright 2010 Pearson Education, Inc. Publishing as Prentice Hall11State CouncilPBCCBRCBankinginstitutionsPolicy banksState banks,etcCredit corporationsubranruralNon-bankinstitu

15、tionsAMCsTrust & investment co.Finance co.Financial leasing co.CIRCCSRCListed companiesSecurities CompaniesSecurity Investment fundsStock Exchange共三十三頁(yè)Opening Up to Foreign Competition1) Major Foreign Banks in China:Union bank of Switzerland (瑞士聯(lián)合銀行)Citibank (花旗銀行(hu q yn xn)HSBC (匯豐銀行) JP Morgan Ch

16、ase(JP摩根大通) Credit Lyonnais(里昂信貸) Deutsche Bank(德意志銀行) Royal Bank of Scotland (蘇格蘭皇家銀行)Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall12共三十三頁(yè)2) Major Famous Invest BankGoldman Sachs （高盛）Merrill Lynch （美林證券）Morgan Stanley （摩根士丹利）JP Morgan （摩根大通公司）Citigroup （花旗集團(tuán)）UBS Warburg （瑞銀華寶）

17、Credit Suisse （瑞士(ru sh)信貸）Deutsche bank （德意志銀行）Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall13共三十三頁(yè)Interpretation of the conceptPBC: Peoples Bank of China 中國(guó)人民銀行PBC is the central bank of the Peoples Republic of China with the power to control the Chinese monetary policy and re

18、gulate Chinese financial institutions.Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall14共三十三頁(yè)All in one monopolistic banking system=Monobank system:大一統(tǒng)銀行(ynhng)體制Highly centralized banking system engaged in both central banking and commercial banking operations.Copyright 2010 Pears

19、on Education, Inc. Publishing as Prentice Hall15共三十三頁(yè)Central bank 中央銀行(zhn yn yn xn)a government monetary authority that issues currency and regulates the supply of credit and holds the reserves of other banks and sells new issues of securities for the government.Copyright 2010 Pearson Education, In

20、c. Publishing as Prentice Hall16共三十三頁(yè)Foreign exchange reserves 外匯儲(chǔ)備(wi hu ch bi)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（硬通貨） such as Dollar, Sterling, Euro and

21、 Yen.Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall17共三十三頁(yè)Monetary base 基礎(chǔ)貨幣(hub)Also termed the high-powered money(高能貨幣), Usually, the currency and central bank deposits that together provide the base for the money supply under fractional reserve banking(部分準(zhǔn)備金銀行制度). It is often

22、used as a guide for the central banks money control ability and monetary policy.Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall18共三十三頁(yè)Benchmark interest rate 基準(zhǔn)利率(j zhn l l)Also called the base interest rate, the minimum interest rate that investors will demand for investing in a

23、non-Treasury security.Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall19共三十三頁(yè)Fiscal agent 財(cái)政(cizhng)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

24、 taxes, revenues, and duties on behalf of the government.Aggregate credit :Total amount of credit總信貸Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall20共三十三頁(yè)Fiscal deficit 財(cái)政赤字(ci zhn ch z)The fiscal deficit is the difference between the governments total expenditure and its total re

25、ceipts (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).Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall21共

26、三十三頁(yè)P(yáng)osition: 部位；頭寸1) 指銀行的營(yíng)業(yè)終止后，所保有的各種外國(guó)通貨的凈余額。若買入多于賣出，則呈現(xiàn)超買（overbought），賣出多于買入，則呈現(xiàn)超賣（oversold）。買賣相抵后沒(méi)有余額者，稱為(chn wi)均衡部位（equilibrium position）。2） 指銀行存款與放款之間有未軋平（mismatch）的情形。Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall22共三十三頁(yè)position1)n.the place occupied by sb.or sth. Eg: Can

27、 you find out our position on the map?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 財(cái)務(wù)狀況、頭寸(tucn)Eg: We are not in a position to repay the loan yet. Will yo

28、u take a long position or short position?balance the positions of financial institutions 平衡資金頭寸4)Attitude, viewpoint, standEg: Dont take a radical position on this issue.不要對(duì)這個(gè)問(wèn)題持激進(jìn)態(tài)度。Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall23共三十三頁(yè)Break even 收支相抵、損益兩平:make neither profit nor

29、 loss Lending facilities 貸款(di kun)工具Priority construction 重點(diǎn)建設(shè): key constructionFixed-asset investment 固定資產(chǎn)投資bank run 銀行擠兌Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall24共三十三頁(yè)Bottleneck 瓶頸(pn jn)1. a place where a road becomes narrow, or a place where there is often a lot of tra

30、ffic, causing the traffic to slow down or stop: Road works are causing bottlenecks in the city center.2. a problem that delays progress: Is there any way of getting round this bureaucratic bottleneck?Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall25共三十三頁(yè)Commodity reserves 商品(shngp

31、n)儲(chǔ)備Subsidiary 子公司:A company owned by another company that controls more than 50% of its voting stock(有投票權(quán)的股票).poverty alleviation 扶貧Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall26共三十三頁(yè)key sentences1. With PBC as the central bank, the current banking system in China consists mai

32、nly 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.in their respective authorized business domains： 在各自(gz)授權(quán)的業(yè)務(wù)范圍內(nèi)Copyright 2010 Pearson Education, Inc. Publishing as P

33、rentice Hall27共三十三頁(yè)2. 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.economic efficiency and social benefits 經(jīng)濟(jì)效益(jn j xio y)和社會(huì)效益break even = make neither profit nor lost 不賠不賺，保本make small profits 微利Copyright 2010 Pearson Education, Inc. Publishing as Prentice Hall28共三十三頁(yè)3. PBC is duly authorized to manage monetary base, control aggr