中國(guó)季報(bào)分析-趨勢(shì)表達(dá)

1、china quarter ly update_june_2010-wor idbank off icebe i j i ng世界銀行中國(guó)經(jīng)濟(jì)季報(bào)專題趨勢(shì)的表達(dá)方式上升、增長(zhǎng)類英中頁(yè)碼例子increase增長(zhǎng)p4,l1in mid april, the government took measures to contain the housing price increases (see below). ( p4 )4月中旬，中國(guó)政府采取了遏制房地產(chǎn)價(jià)格上漲的 措施(見(jiàn)下文x增加p13,l1use the public finances to increase household dispos

2、able incomes 使用公共財(cái)政增加家庭可支配收入grow、growth增長(zhǎng)p1,l14china's economy has continued to grow robustly, with some softening recently. ( pl )中國(guó)經(jīng)濟(jì)繼續(xù)有力增長(zhǎng)，但在最近增速略為放緩。增長(zhǎng)p9moreover, continued low core inflation reflects the influence of china's pattern of growth, with large increases in the supply of goods

3、 and services, compared to increases in demand而且，扌寺續(xù)的低核心通脹反映了中國(guó)增長(zhǎng)方式的影 響，即商品和服務(wù)的供給增長(zhǎng)大于需求的增長(zhǎng)。outgrow增長(zhǎng)快于p3,l1private enterprises were substantially outgrowing soes before the crisis. ( p3 )在危機(jī)前，私營(yíng)企業(yè)的增長(zhǎng)顯著快于國(guó)有企業(yè)。hold up well增長(zhǎng)保持 良好plhousehold consumption growth has held up well, reflecting a favorable l

4、abor market. ( pi ) 中國(guó)的經(jīng)濟(jì)前景依然良好。基本不變pll由于日益增加的外匯儲(chǔ)備帶來(lái)更多的收益，以美元計(jì) 的經(jīng)常賬戶盈余帶來(lái)更多收益，其中占gdp得基本比 例保持不變。recovery回升、恢復(fù)、復(fù)力'p4the recovery of consumer confidence and continued consumer spending growth since early 2009 are in large part fueled by a strong labor market自2009年初以來(lái)，消費(fèi)者信心逐漸恢復(fù)，消費(fèi)支出 也持續(xù)增長(zhǎng)。這在很大程度上是受益于

5、強(qiáng)勁的勞動(dòng)力 市場(chǎng)(圖4 x回漲pllin the first 4 months of 2010, international raw material prices recovered much more than prices of manufactured goods and chinas terms of trade declined again.在前四個(gè)月，國(guó)際原材料價(jià)格回漲快于成品價(jià)格恢 復(fù)，中國(guó)貿(mào)易條件再次惡化。surge、surging激增pldespite a rapid recovery of export volumes since the trough in early

6、 2009. china trade surplus has declined further due to surging import volumes and declining terms of trade. ( pl )盡管出口量從2009年初的低谷迅速回升，但由于進(jìn) 口激增和貿(mào)易條件惡化，中國(guó)的貿(mào)易順差進(jìn)一步下 降。激增p5china trade surplus has declined sharply since 2008 due to surging import volumes and declining terms of trade.中國(guó)的貿(mào)易順差自2008年以來(lái)由于進(jìn)口量激

7、增和貿(mào) 易條件惡化而大幅下降。pick up有所上升p4with the urban labor market survey indicating rising demand for labor, compared to supply, wage growth picked up again, at least for migrants. ( p4 ) 城鎮(zhèn)勞動(dòng)力市場(chǎng)調(diào)查顯示勞動(dòng)力需求增長(zhǎng)強(qiáng)于供給，工資增長(zhǎng)也隨之再次提速（至少對(duì)農(nóng)民工是如此x上升p6inflation has picked up somewhat because of higher food prices, but core

8、inflation remains low.部分的受到食品價(jià)格上漲的推動(dòng),通貨膨脹有所上 升，但核心通脹仍處于低位。soai soaring快速上漲p1however, soaring property prices triggered tough property-specific measures. ( pi )快速上漲的房?jī)r(jià)導(dǎo)致政府采取了專門(mén)針對(duì)房地產(chǎn)的 嚴(yán)厲措施。p5normal imports have soared but are bound to slow down.一般貿(mào)易進(jìn)口已快速增長(zhǎng)，但勢(shì)頭不會(huì)持續(xù)。accumulation積累p1the contributions fro

9、m labor and tfp are likely to decelerate somewhat while, with some rebalancing expected, capital accumulation should also slow.(pl) 勞動(dòng)力和全要素生產(chǎn)力對(duì)經(jīng)濟(jì)增長(zhǎng)的貢獻(xiàn)將有所下 降，而由于經(jīng)濟(jì)再平衡，資本的積累也會(huì)減緩。增長(zhǎng)p5with the trade surplus traditionally the key driver of foreign reserves accumulation, its decline has somewhat slowed th

10、e accumulation of reserves, even though net financial flows were positive in the first quarte匚 由于貿(mào)易順差傳統(tǒng)上是外匯儲(chǔ)備增加的主要來(lái)源，因 此盡管今年一季度的資本凈流入仍然為正|貞差的下 降還是一定程度上減緩了外匯儲(chǔ)備的增長(zhǎng)。bottom out觸底反彈p4after bottoming out in early 2009, employment recovered on the back of the strong domestic economy.(p4)就業(yè)在2009年初達(dá)到低谷，此后隨著國(guó)

11、內(nèi)經(jīng)濟(jì)的強(qiáng) 勁增長(zhǎng)而開(kāi)始恢復(fù)。見(jiàn)底p4with somebut no drastic一further rebalancing expected, the share of consumption is likely to bottom out and to rise somewhat through 2015 考慮到一定程度的但并不劇烈的經(jīng)濟(jì)再平衡，從現(xiàn)在 起到2015年，消費(fèi)在經(jīng)濟(jì)中所占的份額將逐漸見(jiàn)底并 有所上升。to a rapid pace快速增長(zhǎng)p2leading indictors and industrial production data suggest some modera

12、tion (yoy) in the second quarter, to a still rapid paceo ( p2 )但在二季度，經(jīng)濟(jì)領(lǐng)先指標(biāo)和工業(yè)生產(chǎn)數(shù)據(jù)都表明 (同比)增長(zhǎng)有所放緩，但仍保持快速增長(zhǎng)。rise上升p2soes9 weight in production has not risen recently and the long term trend is for it to decline(p2 ) 國(guó)有企業(yè)在生產(chǎn)中所占比重近期沒(méi)有上升，而長(zhǎng)期的 超勢(shì)是下降。升幅p5中國(guó)的出口產(chǎn)品(幾乎全部是工業(yè)制成品)的價(jià)格比 中國(guó)進(jìn)口的制成品價(jià)格降幅要大，或是升幅要小 prices

13、 of china's exports, which are almost all manufactured goods, have fallen more and risen less than prices of manufactured goods importsaccelerate增長(zhǎng)p2more recently, net extemal trade has become less of a drag on growth as exports have accelerated alongside a rebounding world economy. ( p2 )最近，由于出

14、口隨著世界經(jīng)濟(jì)的反彈而快速增長(zhǎng)，凈 貿(mào)易拉低經(jīng)濟(jì)增長(zhǎng)速度的效果減弱。增加p5they included raising minimum mortgage down payment and mortgage interest rates, virtually banning lending for people buying their third home, and asking local governments to increase land supply for and accelerate construction of “mass market and low-end housin

15、g 這些措施包括提高住房按揭貸款的首付比例和貸款 利息，事實(shí)上禁止向第三套住房者提供貸款，以及要 求地方政府增加土地供應(yīng)以加快普通住房和保障性 住房建設(shè)。gainjxe冋p4export volumes have recovered fast in the last 12 months, reflecting improved global demand and further market share gains. ( p4 )出口實(shí)物量在最近12個(gè)月迅速恢復(fù)，反映了全球需 求的改善和中國(guó)在全球市場(chǎng)份額的進(jìn)一步提高。jxe冋p13further market share gains 市場(chǎng)份額

16、的進(jìn)一步提高up上升p5they were estimated 10 percent up on two years ago. 據(jù)估計(jì),中國(guó)出口量較兩年前已上升了 10%上升p7however, property prices have surged on the back of the expansionary monetary stance and have triggered measures. ample liquidity and low interest rates have boosted property prices, especially in large cities,

17、where they were up 12.4 percent on a year ago on average in may, according to the official nbs data. the government took measures in mid april aimed at containing the price increases.但是，房地嚴(yán)價(jià)格已經(jīng)由于擴(kuò)張性的貨幣政策而急劇 上漲，并促使政府出臺(tái)了控制措施。充足的流動(dòng)性和 低利率推動(dòng)房?jī)r(jià)急劇上升，這在大城市尤為明顯，大 城市的平均房?jī)r(jià)在今年5月相對(duì)去年同期上漲了 12.4%。4月中旬，政府出臺(tái)了一系列旨在遏制

18、價(jià)格 上漲。boost推高p5boosted by strong domestic demand, their particularlyrapid growth at the end of 2009 and start of 2010) is in part一but not fully一because of base effects.前一年的低基數(shù)推高了這類進(jìn)口在2009年末和2010 年初的年同比增速。急劇上漲p7however, property prices have surged on the back of the expansionary monetary stance and h

19、ave triggered measures. ample liquidity and low interest rates have boosted property prices, especially in large cities, where they were up 12.4 percent on a year ago on average in may, according to the official nbs data. the government took measures in mid april aimed at containing the price increa

20、ses.但是，房地嚴(yán)價(jià)格已經(jīng)由于擴(kuò)張性的貨幣政策而急劇 上漲，并促使政府出臺(tái)了控制措施。充足的流動(dòng)性和 低利率推動(dòng)房?jī)r(jià)急劇上升，這在大城市尤為明顯，大 城市的平均房?jī)r(jià)在今年5月相對(duì)去年同期上漲了 12.4%。4月中旬，政府出臺(tái)了一系列旨在遏制價(jià)格 上漲。expand增長(zhǎng)p7after the world economy shrunk in 2009, the consensus forecasts suggest that global gdp (excluding china) expands 3.0 percent this year and 3.0 percent in 2011 (ta

21、ble land 2).繼2009年全球經(jīng)濟(jì)收縮2.2%之后，今年全球gdp (不含中國(guó))將增長(zhǎng)3.0% , 2011年將增長(zhǎng)3.0%。擴(kuò)大p15first, how to ensure financial sustainability in a setting of high “l(fā)egacy costs99 of the urban pension system,expanding programs and a rapidly ageing population.首先，在城鎮(zhèn)養(yǎng)老保險(xiǎn)制度存在很大“歷史包袱”、覆 蓋面不斷擴(kuò)大、入口結(jié)構(gòu)迅速老化的情況下如何保持 資金的可持續(xù)性？strc ngt

22、hcn增強(qiáng)、加速p2consumption growth has strengthened since 2008 while investment decelerated in the first quarter of this year, with government-led investment leading the slowdown (figure 2). ( p2 )在鳥(niǎo)年前半年，雖然由于政府主導(dǎo)投資放緩而帶來(lái)總 體投資增長(zhǎng)減速，但消費(fèi)增長(zhǎng)已自2008年開(kāi)始加速 (圖2增加p13the incentives of local governments to be "on b

23、oard'' with the rebalancing agenda need to be strengthened. 增加對(duì)地方政府幵展經(jīng)濟(jì)再平衡的激勵(lì)。spiral螺旋上升p9however, given the flexibility of china's labor market and the track record of china's overall manufacturing sector in absorbing wage in creases and keepi ng un 讓labor cost growth down, this is

24、unlikely to set in motion an unwarranted wage-inflation spiral.此外，近幾個(gè)季度的勞動(dòng)力單位成本保持平穩(wěn)，這與 核心通脹保持低位是一致的，也顯示盡管保持了擴(kuò)張 性貨幣政策立場(chǎng)，但還沒(méi)有出現(xiàn)工資通脹的螺旋 上升。螺旋上升p1the external surplus should decline somewhat further this year inflation is likely to remain contained this year by the absence of price pressures globally wh

25、ile a wage-price spiral is not likely.由于全球沒(méi)有價(jià)格上升的壓力，而且國(guó)內(nèi)工資一價(jià)格 的螺旋上升也不太可能出現(xiàn)，因此今年的通貨膨脹水 平看起來(lái)仍將受到抑制。rebound反彈p9this is in part a cyclical issue, reflecting the strong rebound in the labor market after an earlier downturn when wage growth slowed但是，這部分的是周期性的問(wèn)題，反映的是前段時(shí)間 工資增長(zhǎng)減速后的近期勞動(dòng)力市場(chǎng)的強(qiáng)勁反彈反彈p1more recent

26、ly, net external trade has become less of a drag on growth as exports have accelerated alongside a rebounding world economy.最近，由于出口隨著世界經(jīng)濟(jì)的反彈而快速增長(zhǎng)，凈 貿(mào)易拉低經(jīng)濟(jì)增長(zhǎng)速度的效果減弱。分析：出現(xiàn)頻率最高的詞：英文次數(shù)increase28grow/growth26up42rise6 常見(jiàn)使用方法1、increase的使用范圍最廣,可以包括價(jià)格上漲,某一項(xiàng)目的提高（例如居 民生活水平提高即既可以表示數(shù)量上的增多，也可以表示質(zhì)量或其他方 面的提高。2、當(dāng)提及

27、上漲的具體比率時(shí)，一般會(huì)使用upo3、幾種特殊情況的上漲，包括：觸底反彈(bottom out ),螺旋形上升(spiral 還有幾種此文檔中沒(méi)有涉及的,例如v字型發(fā)展(vshaped development )4、常常用來(lái)修飾上升趨勢(shì)的詞有：快速上升：rapid、soaring、surging、robust、sharp、spectacular ( growth ) to a rapid pace穩(wěn)步上升：solid、step-by-step緩慢上升：slightly下降、減少類英文中文頁(yè)碼例子reduce減少第13 , 16頁(yè)1、consider a capital gains tax on

28、 equity to reduce distortions and make the tax system more equal. 考慮對(duì)股權(quán)征收資本利得稅，以減少扭曲，并 使稅收體系更為公平。2、reducing the inequality in public spending 減小公共開(kāi)支方面的不平等3、local taxes would reduce the dependence of local governments on land revenues and allow local governments to benefit from those economic activit

29、ies that the central government wants to promote,改革地方稅可以減少地方政府對(duì)土地出讓收入 的依賴，使地方政府從中央鼓勵(lì)的經(jīng)濟(jì)活動(dòng)中 受益decline 、 declining、 decelerates deceleration下降、減緩第頃（7第 2頁(yè)（5 第4 頁(yè)（1 ）1、however,the decline has bottomed out in recent years(p3 ) 不過(guò)，近年這種下降已經(jīng)停止。2、almost one-third of the decline in the trade balance in the 2

30、years to the first 5 months of 2010 was due to the worsened tenns of trade2010年前5個(gè)月貿(mào)易盈余相對(duì)兩年前的同期 水平下降，降幅中幾乎有三分之一是由貿(mào)易條 件惡化造成的。3、we now envisage a somewhat more pronounced deceleration in the rest of the year,今年剩下時(shí)間內(nèi)增長(zhǎng)減緩將更為嚴(yán)重slow、slowdown減緩、放緩第1、5、11、13、 15頁(yè)1、the contributions from labor and tfp are li

31、kely to decelerate somewhat while, with ome rebalancing expected, capital accumulation should also slow. ( pl )勞動(dòng)力和全要素生產(chǎn)力對(duì)經(jīng)濟(jì)增長(zhǎng)的貢獻(xiàn)將有 所下降，而由于經(jīng)濟(jì)再平衡，資本的積累也 會(huì)減緩。2、so far in 2010, theslowdown in government-led investment (gli) after last year's massive stimulus has partly been offsetby strong real est

32、ate investment.繼去年的大規(guī) 模刺激政策之后，今年以來(lái)政府主導(dǎo)投資的增長(zhǎng)放緩。3、with some rebalancingexpected, expected, capital accumulation should also slow.而由于經(jīng)濟(jì)再平衡，資本的積累也會(huì) 減緩。lower ( by lowering r to allow lower )降低第 13,15頁(yè)1、for instance by lowering social security contributions in a financially sustainable way. 如 可以以財(cái)務(wù)可持續(xù)的方式降

33、低社保繳費(fèi)2、hiving off the “l(fā)egacy costs" in urban pensions (for separate resolution) to allow lower contribution rates.離城鎮(zhèn)職工養(yǎng)老保險(xiǎn)的"歷 史負(fù)擔(dān)(另行解決)，以便降低繳費(fèi)標(biāo)準(zhǔn)；3、with regard to the level of the exchange rate, a stronger currency helps reducing inflation pressures by lowering the price of imports andton

34、ing down demand.至于匯率水平的問(wèn)題，一個(gè) 強(qiáng)勢(shì)貨幣將有助于通過(guò)降低進(jìn)口價(jià)格和壓低需 求來(lái)減少通貨膨脹壓力。diminish縮減、下 滑、減少第10、11、12頁(yè)1、the contribution from these factorsis likely to diminish somewhat in the coming decade而在今后10年,這些因素對(duì)生產(chǎn)力增長(zhǎng)的貢獻(xiàn)將有所減退。2、thus, with export price increases assumed to lag domestic inflation, theexport to gdp ratio sho

35、uld continue to diminish. 這樣，假定出口價(jià)格上漲速度落后于國(guó)內(nèi)通貨 膨脹，出口額與gdp之比應(yīng)該繼續(xù)下 滑。3、moreover, a delay ofrebalancing may diminish the associated efficiency gains.但是，進(jìn)一步提高已經(jīng)非常高 的投資占gdp比重是與中國(guó)政府實(shí)現(xiàn)經(jīng)濟(jì)平衡增長(zhǎng)、減 少對(duì)投資的依賴性的目標(biāo)背道而馳 的。fall , fallmorefall steeply下滑第2、6、7、1、between early 2009 and april 2010 they fell and in the fir

36、st 5 months of 2010, they were still down on 2 years ago (figure 7).但自2008年底開(kāi)始工業(yè)生產(chǎn)急劇下滑，而2009 年出現(xiàn)了v型的復(fù)蘇。2、between early 2009 and april 2010 they fell and in the first 5 months of 2010, they were still down on 2 years ago在2009年初到2010年4月一直惡化。在2010 年前5個(gè)月，貿(mào)易條件還低于兩年前的同期水 平3、prices of chinas exports, which

37、 are almost all manufactured goods, have fallen more and risen less than prices of manufactured goods imports中國(guó)的出口產(chǎn)品(幾乎全部是工業(yè)制成品)的 價(jià)格比中國(guó)進(jìn)口的制成品價(jià)格降幅要大，或是 升幅要小(growth) with some softening放緩第1頁(yè)1、china's economy has continued to grow robustly, with some softening recently.中國(guó)經(jīng)濟(jì)繼續(xù)有力增長(zhǎng)，但在最近增速略為放緩。2、repor

38、ts on commercial real estate activity varied, with some reports noting signs of softening dema nd.商業(yè)房地產(chǎn)的狀態(tài)則走勢(shì)不齊，部分地區(qū)的報(bào) 告指出了需求疲軟的跡象。collapse下滑第2頁(yè)1、in early 2009, exports collapsed and the massivestimulus effort boosted domestic demand, infrastructure investment in particular.2009年前期，出口嚴(yán)重下滑，而大規(guī)模的國(guó)內(nèi) 刺激

39、帶動(dòng)了內(nèi)需(特別是基礎(chǔ)設(shè)施建設(shè)投資x2、shrink收縮第7、10、15頁(yè)1、after the world economy shrunk in 2009, the consensus forecasts suggest that global gdp (excluding china) expands 3.0 percent this year and 3.0 percent in 2011.繼2009 年全球經(jīng)濟(jì)收 縮2.2%之后，今年全球gdp (不含中國(guó))將增 長(zhǎng)3.0% , 2011年將增長(zhǎng)3.0%2、the working population is on course to de

40、celerate because of demographic developments weexpect overall employment to shrink somewhat in 2015-21.人口結(jié)構(gòu)變化將導(dǎo)致工作人口增長(zhǎng)下 降。我們預(yù)計(jì)2015-20年總就業(yè)將有所縮減。3、as a result, the 12 month rolling budget deficit shrunk to about 1 percent of gdp in may.至l5 月 為止的12個(gè)月滾動(dòng)預(yù)算赤字縮減為gdp的 1%obottom(out)見(jiàn)底第11頁(yè)1 、 with some一but n

41、o drastic一further rebalancing expected, the share of consumption is likely tobottom out and to rise somewhat through 2015考 慮到一定程度的而非劇烈的經(jīng)濟(jì)再平衡，從現(xiàn) 在起到2015年，消費(fèi)在經(jīng)濟(jì)中所占份額將見(jiàn)底并有所上升2、the government claims that the recession is bottoming out.政府聲稱經(jīng)濟(jì)蕭條正達(dá)到回升前的最低點(diǎn)，不 再繼續(xù)惡化。3、the price of oil finally bottomed out an

42、d began to rise again.石油價(jià)格終于在下跌到最低點(diǎn)后又開(kāi)始回升。edge(down )逐漸下降第11頁(yè)1、the ratios of investment and saving in gdp edge down gradually.投資和儲(chǔ)蓄在gdp中所 占比重將逐漸下降。2、inflation may edge down only slowly.通貨膨脹率可能只會(huì)緩慢地下降。平穩(wěn)類remain low保持低位第1、21頁(yè)1、inflation has picked up somewhat, but core inflation remains low.通貨膨脹有所上升，但

43、核心通脹仍保持低位2、such flexibility givesmonetary policy more room to be in line with domestic needs and to raise interest rates even when interest rates in high income countries remain low.即使發(fā)達(dá)國(guó)家利率保持低位時(shí)，中國(guó)仍可實(shí)行 加息3、one cause of chinars elevated investment rate is that interest rates remain low.中國(guó)投資率居高不下的原因之

44、一，是利率仍然 很低。remain strong保持強(qiáng)勁第2頁(yè)1、china1 s economic growth has remained strong. 中國(guó)經(jīng)濟(jì)增長(zhǎng)保持強(qiáng)勁。2、the numbers in the months ahead will undoubtedly remain strong-未來(lái)幾個(gè)月的數(shù)字毫無(wú)疑問(wèn)會(huì)保持堅(jiān)挺。3、significant positive economic data may mean that the market will remain strong.樂(lè)觀的經(jīng)濟(jì)數(shù)據(jù)很大可能意味著市場(chǎng)將維持強(qiáng) 勢(shì)。stay保持第9頁(yè)1、taking into

45、account the global context and assuming they broadly stay at their may level the rest of 2010考慮到全球形勢(shì)并假定今年剩下的時(shí)間貿(mào)易條 件保持5月份的水平2、最好的希望是全球增長(zhǎng)能夠轉(zhuǎn)而依靠新興經(jīng) 濟(jì)體保持強(qiáng)勢(shì)。the best hope that global growth can stay strong lies instead with emerging economies.3、明年經(jīng)濟(jì)增長(zhǎng)估計(jì)比較緩慢，意味著企業(yè)收 入增長(zhǎng)也會(huì)保持疲軟。economic growth is expected to

46、 be slow next year, suggesting revenue growth will stay sluggish, as well.hold up基本不變第11頁(yè)1 s the current account surplus would rise substantially in us dollar terms andhold up, as a share of gdp, because of rising income on growing foreign assets. 不過(guò)，由于日 益增加的外匯儲(chǔ)備帶來(lái)更多收益，以美元 計(jì)的經(jīng)常帳戶盈余將會(huì)顯著上升，同時(shí)其占 gdp的比例

47、將基本不變。2、if raw material prices would be 10 percent higher in the remaining 7 months of 2010, with manufactured goodsprices and all else unchanged, the current account surplus would be 0.5 % of gdp lower.如果今年 后7個(gè)月的原材料價(jià)格比5月份的水平高于 10% ,而制成品和其他產(chǎn)品價(jià)格水平保持不變， 那么中國(guó)的經(jīng)常帳戶余額占gdp的比重將下 降0.5個(gè)百分點(diǎn)。3、share price have hold up well. 股票價(jià)格保持在高價(jià)位上。constant保持平穩(wěn)第5、6頁(yè)1、moreover, estimated unit labor cost has been constant in recent quarters,此外，近幾個(gè)季度的勞動(dòng)力單位成本保持平穩(wěn)，2、during the ninth five-year plan period, china's foreign trade and economic cooperation has withstood the severe test of the asian f