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经济下行,中国央行再降息

更新时间:2015-3-2 19:25:39 来源:纽约时报中文网 作者:佚名

China Cuts Interest Rates to Stimulate Slowing Economy
经济下行,中国央行再降息

SHANGHAI — With its growth engine slowing, China said on Saturday that it was reducing the nation’s benchmark interest rates for the second time in three months.

上海——随着经济增长引擎的放缓,中国在周六宣布,将下调基准利率。这是三个月内的第二次降息。

In an announcement on its website, China’s central bank said that, effective Sunday, the one-year bank lending rate would drop 0.25 percentage point to 5.35 percent and that deposit rates would also be reduced by a quarter percentage point.

中国央行在其网站公布,一年期贷款基准利率下调0.25个百分点至5.35%,一年期存款基准利率也将下调0.25个百分点,周日开始生效。

The move, which will make it cheaper to borrow money, comes as policy makers search for ways to stimulate the economy while also promoting overhauls aimed at allowing market forces to play a greater role in the country’s development.

央行采取的这一举措降低了借贷成本。它出炉的时机是,决策者正在寻找办法,希望既能刺激经济发展,又能促进全面改革,使得市场力量在中国经济的发展中发挥更大作用。

China already has the world’s second-largest economy after the United States. And during much of last year, it was expanding about 7.5 percent. But late in the year, momentum slowed considerably, raising concerns that growth targets would not be met and that a deeper downturn was possible.

中国已经成为世界第二大经济体,仅次于美国。在去年的大部分时间里,中国的增速达到了7.5%左右。但到了年底,增长势头明显放缓,引发了人们的担忧:增长目标将无法实现,中国经济可能会进一步下行。

In the fourth quarter of last year, growth dipped to 7.3 percent, the slowest rate in more than two decades. And in January, China’s consumer price index slid to 0.8 percent, its weakest showing since late 2009.

在去年的第四季度,经济增速降至7.3%,是20多年来的最低增长率。今年1月,居民消费价格指数的增幅下滑至0.8%,成为2009年末以来的最低水平。

Economists are now pressing the People’s Bank of China to ease its monetary policy in the hope of bolstering growth.

经济学家们正在敦促中国人民银行放宽货币政策,希望此举能巩固经济增长。

“China’s real economic activity has slowed further in recent months, largely due to the ongoing property downturn,” Wang Tao, an economist at UBS, wrote last week in a report to clients. “Weak domestic demand has aggravated excess capacity issues in many sectors, and together with a sharper decline in commodity and oil prices, have led to rapid disinflation, and for the industrial sector, deeper deflation. Against this backdrop, it would seem clear that monetary policy in China should be eased more aggressively.”

“最近几个月,中国的实体经济活动进一步放缓,这主要是因为房地产市场的持续下滑,”瑞银(UBS)经济师汪涛上周在给客户的报告中称。“低迷的国内需求加剧了许多领域的产能过剩的问题,加上大宗商品和石油价格的加速下滑,共同引发了通胀率的迅速下降,而对于工业领域来说,则是引发了更严重的通缩。在此背景下,显然,中国应该更积极地实施宽松的货币政策。”

Through much of last year, the government seemed to resist calls for economic stimulus packages and monetary easing out of fear that the policies might lead to a repeat of the events of 2009, when a vast government stimulus effort pumped up growth but also led to soaring debt for corporations and local governments.

去年很大一部分时间里,政府似乎对出台经济刺激计划和货币宽松政策的呼吁心存抵触。这是出于对此类措施可能重蹈2009年覆辙的担忧。当时,政府推出的一项大规模刺激方案提振了经济增长,但同时也导致企业和地方政府债务激增。

There were also concerns among some experts that a stimulus package or monetary easing would aid inefficient companies and allow companies to pile on even more debt.

还有一些专家担心,刺激计划或货币宽松政策将帮助那些效率低下的公司,并让企业积累更多债务。

But a sluggish property market and signs of deflationary pressure have become urgent concerns in a country that has benefited from nearly two decades of spectacular growth, analysts say.

不过,分析人士称,在这个享受了近20年非凡经济增长的国家,低迷的房地产市场和通缩压力的迹象已经引发了迫在眉睫的担忧。

The government has tried to make it easier for small business to obtain loans and allowed China’s currency, the renminbi, to weaken against the dollar, aiding exporters.

中国政府已在设法让小企业更容易获得贷款,并允许人民币对美元贬值来帮助出口。

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