财经英语文章汇总.doc

China to the rescue? The property market says no 中国政府对房价动真格 With inflation high and the government trying to work down its debts, China cannot afford another superhero stimulus like the Rmb4,000bn package that helped rescue the world from despair in 2008. The importance of the Chinese property sector cannot be overstated. Property construction directly accounts for nearly 15 per cent of China’s gross domestic product and drives its demand for commodities, especially iron ore and copper. Jonathan Anderson, an economist with UBS, has called Chinese property “the single most important sector in the entire global economy”. With the real estate market looking bubbly early last year, the government introduced a series of policies to rein in prices, from higher mortgage rates to restrictions on the numbers of homes people can buy. Then, in a meeting of the Politburo, the Communist Party’s top decision-making body, President Hu Jintao said that, despite China’s agricultural outsourcing, more must be done to protect arable land from being swallowed up by construction projects – a signal to slow down, not speed up, development. Beijing, it seems, has learned its lesson from 2008. Housing prices soared days after it eased its property clampdown at the time. Along with being disruptive to the economy, the stop-and-start policies undermined the government’s credibility in the real estate market. This time around, Beijing is regaining credibility by staying the course on property tightening. That will be a good thing for China’s property market in the long term. While bad news for the global economy, that China won’t unveil a new stimulus is already the dominant market view. But for countries and investors hoping for a short-term boost from Chinese demand, it is one more reason to be worried. 鉴于通胀居高不下，加上政府在竭力减少债务，中国没法再像2008年那样拿出4万亿元人民币的刺激措施、扮演帮助拯救世界于绝境的超级英雄。 说到中国楼市的重要性，无论怎么强调都不为过。房地产建设在中国国内生产总值(GDP)中所占的直接比重接近15%，此外还拉动着对铁矿石和铜等大宗商品的需求。瑞银(UBS)经济学家乔纳森?安德森(Jonathan Anderson)形容中国房地产行业是