sustainableeconomicgrowth可变成本variablecost可自由兑换货币freelyconvertiblecurrency控制现金投放controlcurrencyissuance扣除物价因素inrealterms;oninflation-adjustedbasis库存产品inventory跨国银行业务cross-borderbanking跨年度采购cross-yearprocurement会计准则accountingstandardL 21来料加工processingofimportedmaterialsforexport离岸银行业务off-shorebanking(business)理顺外贸体制torationalizeforeigntraderegime利率杠杆的调节作用theroleof interest rates in resourceallocation利润驱动profit-driven利息回收率interestcollectionratio联行清算inter-banksettlement连锁企业franchise（businesses）；chainbusinesses良性循环virtuouscycle两极分化growingincomedisparitypolarization in income distribution零售物价指数retailpriceindex（RPI)流动性比例liquidityratio流动资产周转率/流通速度velocityofliquidassets流动资金贷款workingcapital loans流通体制distributionsystem
sustainable economic growth 可变成本variable cost 可自由兑换货币freely convertible currency 控制现金投放control currency issuance 扣除物价因素in real terms; on inflation-adjusted basis 库存产品inventory 跨国银行业务cross-border banking 跨年度采购cross-year procurement 会计准则accounting standard Ｌ 21 来料加工processing of imported materials for export 离岸银行业务off-shore banking (business) 理顺外贸体制to rationalize foreign trade regime 利率杠杆的调节作用 the role of interest rates in resource allocation 利润驱动profit-driven 利息回收率interest collection ratio 联行清算inter-bank settlement 连锁企业franchise (businesses); chain businesses 良性循环virtuous cycle 两极分化growing income disparity polarization in income distribution 零售物价指数retail price index (RPI) 流动性比例liquidity ratio 流动资产周转率／流通速度velocity of liquid assets 流动资金贷款working capital loans 流通体制distribution system
流通网络distributionnetwork留购（租赁期满时承租人可购买租赁物）hirepurchase断行业monopolizedindustry(sector)乱集资irregular(llegal)fundraising乱收费irregular（illegal)charges乱摊派unjustified(arbitrary）leviesM10买方市场buyer'smarket卖方市场seller'smarket卖出回购证券matchedsaleofrepo贸易差额tradebalance民间信用non-institutionalizedcredit免二减三exemptionofincometaxforthefirsttwoyearsofmakingprofitand50%taxreductionfor the following three years明补explicit subsidy明亏explicitloss名牌产品brandproducts母国（请见"东道国"）homecountryN8内部控制internalcontrol内部审计internal audit内地与香港themainlandandHongKong内债domesticdebt扭亏为盈toturnaloss-makingenterpriseintoaprofitableone扭曲金融分配
流通网络distribution network 留购（租赁期满时承租人可购买租赁物）hire purchase 垄断行业monopolized industry (sector) 乱集资irregular (illegal) fund raising 乱收费irregular (illegal) charges 乱摊派unjustified (arbitrary) levies Ｍ 10 买方市场buyer's market 卖方市场seller's market 卖出回购证券matched sale of repo 贸易差额trade balance 民间信用non-institutionalized credit 免二减三exemption of income tax for the first two years of making profit and 50% tax reduction for the following three years 明补 explicit subsidy 明亏 explicit loss 名牌产品brand products 母国（请见"东道国"）home country Ｎ 8 内部控制internal control 内部审计internal audit 内地与香港the mainland and Hong Kong 内债 domestic debt 扭亏为盈 to turn a loss-making enterprise into a profitable one 扭曲金融分配
distortedallocationoffinancialresources农副产品采购支出outlaysforagriculturalprocurement农村信用社ruralcreditcooperatives(RCCs)P11泡沫效应bubbleeffect泡沫经济bubbleeconomy培育新的经济增长点totapnewsourcesofeconomicgrowth片面追求发展速度excessivepursuitofgrowth平衡发展balanceddevelopment瓶颈制约bottleneck(constraints)平稳回升steadyrecovery铺底流动资金initial（start-up）workingcapital普遍回升broad-basedrecovery配套改革concomitant（supporting)reforms配套人民币资金localcurrencyfundingof..Q21企业办社会enterprisesburdenedwithsocialresponsibilities企业集团战略corporategroupstrategy企业兼并重组companymergerandrestructuring企业领导班子enterprisemanagement企业所得税enterprise（corporate)incometax企业效益corporateprofitability企业资金违规流入股市irregular flow of enterprise funds into the stockmarket欠税taxarrears
distorted allocation of financial resources 农副产品采购支出 outlays for agricultural procurement 农村信用社rural credit cooperatives (RCCs) Ｐ 11 泡沫效应bubble effect 泡沫经济bubble economy 培育新的经济增长点 to tap new sources of economic growth 片面追求发展速度excessive pursuit of growth 平衡发展balanced development 瓶颈制约bottleneck (constraints) 平稳回升steady recovery 铺底流动资金initial (start-up) working capital 普遍回升broad-based recovery 配套改革concomitant (supporting) reforms 配套人民币资金local currency funding of. Ｑ 21 企业办社会 enterprises burdened with social responsibilities 企业集团战略corporate group strategy 企业兼并重组company merger and restructuring 企业领导班子enterprise management 企业所得税enterprise (corporate) income tax 企业效益corporate profitability 企业资金违规流入股市 irregular flow of enterprise funds into the stock market 欠税 tax arrears
欠息overdueinterest强化税收征管tostrengthentaxadministration强制措施enforcementaction翘尾因素carryovereffect切一刀partialapplication清理收回贷款cleanupandrecoverloans（破产）清算liquidation倾斜政策preferentialpolicy区别对待differentialtreatment趋势加强intensifyingtrend全球化globalization权益回报率returnsonequity（ROE)缺乏后劲unsustainablemomentumR8绕规模贷款tocircumventcreditceiling人均国内生产总值percapitaGDP人均收入percapitaincome人民币升值压力upward pressureon the Renminbi(exchangerate)认缴资本subscribedcapital软贷款softloans软预算约束softbudgetconstraint软着陆softlandingS 30三角债chaindebts;inter-enterprisearrears善政廉政goodgovernance
欠息 overdue interest 强化税收征管to strengthen tax administration 强制措施enforcement action 翘尾因素carryover effect 切一刀partial application 清理收回贷款clean up and recover loans （破产）清算liquidation 倾斜政策preferential policy 区别对待differential treatment 趋势加强intensifying trend 全球化globalization 权益回报率returns on equity (ROE) 缺乏后劲unsustainable momentum Ｒ 8 绕规模贷款to circumvent credit ceiling 人均国内生产总值per capita GDP 人均收入per capita income 人民币升值压力 upward pressure on the Renminbi (exchange rate) 认缴资本subscribed capital 软贷款soft loans 软预算约束soft budget constraint 软着陆soft landing Ｓ 30 三角债chain debts; inter-enterprise arrears 善政廉政good governance
商业贷款commercialloans上市公司（publicly）listedcorporations设备利用capacityutilization社会保障socialsafetynet；socialsecurity(insurance）深层次矛盾deep-rootedstructuralimbalance审批金融机构tolicensefinancialinstitutions审慎监管prudential supervision生产能力闲置unutilizedcapacity生息资产interest-bearingassets实际利用外资disbursementofforeigncapitalactual inflowofforeign investment实际有效汇率realeffectiveexchangerate实时realtime实收资本paid-incapital实现利润realizedprofit市场分割marketsegmentation市场经济marketeconomy市场占有率（市场份额）marketshare市场准入marketaccess（指商品和劳务的进入）marketentry(指机构的审批）市价总值marketcapitalization适度从紧appropriatelytight适时调节timelyadjustment收回对金融机构贷款torecall centralbankloans (tofinancial institutions)税后还贷amortization(repaymentofloans）aftertax
商业贷款commercial loans 上市公司(publicly) listed corporations 设备利用capacity utilization 社会保障social safety net; social security (insurance) 深层次矛盾deep-rooted structural imbalance 审批金融机构to license financial institutions 审慎监管prudential supervision 生产能力闲置unutilized capacity 生息资产interest-bearing assets 实际利用外资disbursement of foreign capital actual inflow of foreign investment 实际有效汇率real effective exchange rate 实时 real time 实收资本paid-in capital 实现利润realized profit 市场分割market segmentation 市场经济market economy 市场占有率（市场份额）market share 市场准入 market access (指商品和劳务的进入) market entry (指机构的审批) 市价总值market capitalization 适度从紧appropriately tight 适时调节timely adjustment 收回对金融机构贷款 to recall central bank loans (to financial institutions) 税后还贷amortization (repayment of loans) after tax