China's Economy
中国的经济
China's economy held the line on growth in 1999, mainly with government assistance, as the economy continues to suffer from the effects of massive, and accelerating, restructuring. The coming year could e some improvement, though the economy is likely to remain under stress as the restructuring intensifies over the next three to five years.
Large-scale job loss and gluts of consumer goods are still dampening demand, but deflation has begun to flatten out. Recovery in the rest of Asia helped keep exports strong, though foreign investment dipped (e Trade and Foreign Direct Investment).
China's preparations to enter the World Trade Organization (WTO) will accelerate the pace of the toughest reforms yet in agriculture, the state-owned ctor, and banking, among others. Economic performance depends in large part on how well China implements the reforms and on non-state ctor growth. Foreign firms are also likely to e the reforms as crucial, as WTO implementation is deeply entwined with the issues.
Notes
hold the line坚持下去, 保持不变
assistance n.协助, 援助
suffer (from) vi.受损失，受害
massive a.大规模的，大量的
james brownrestructure vt.更改结构, 调整, 改组
stress n.重压, 压力, 重点
large-scale job loss大规模失业
gluts of consumer goods消费品供应过剩
glut n.供应过剩；充斥
dampen vt.抑制，压抑大使馆英语
demand n.需求(量), 需要
deflation n.通货紧缩, 物价低廉
flatten (out) vi.变平, 变单调
recovery n.恢复, 复苏
foreign investment外国投资
dip vi.轻微下降(通常是暂时的)
toughest reform最艰难的改革
tough adj.强硬的, 艰苦的, 坚强的
state-owned ctor国有部门（行业）
cardiganperformance n.成就，表现
implement vt.贯彻，实现，执行
non-state ctor非国有部门（行业）
crucial adj.至关紧要的
entwined (with) vi.缠绕，纠缠在一起
issue n.论点, 问题
选课技巧OVERALL ECONOMIC PERFORMANCE IN 1999
1999年度经济成就环球网校怎么样
GDP China's GDP grew slightly more than 7 percent in 1999, thanks only to the government's ongoing stimulus program. With other Asian countries recovering, China's probable WTO accession this year, and a new drive to boost the private ctor, however, both the Chine government and outside analysts predict slightly stronger growth-around 7.5 percent-in 2000.
Investment Investment in fixed asts ro 7.8 percent in 1999, and is expected to increa by another 7.8 percent in 2000. Much of the investment came from the government's stimulus plan.
Prices Consumer and retail prices fell throughout 1999. Overcapacity in many industries was chiefly responsible for the 27-month deflation, but slack demand caud by consumer worry about job curity and education and health costs also played a role. Many economists believe that the worst is past, and that deflation will wane in 2000.
Notes
performance n.something performed; an accomplishment完成的事；成就
GDP:gross domestic product国内生产总值
thanks (to) n.（与to连用） 由于；多亏
例：It was thanks to John that we won the game.
送迎 多亏约翰，我们才赢了这场比赛。
ongoing stimulus program持续不断的刺激计划（措施）
ongoing adj.currently taking place进行中的：现在正在发生的
stimulus n.促进因素, 刺激
program n.程序, 纲要, 计划
WTO:world trade organization世界贸易组织aqualung
mj专辑accession n.access; admittance进入；接收
, push, or aggressiveness干劲、冲动或攻击性
assist in further development or progress刺激增长：辅助长远的发展和进步
例：a bill intended to boost local charities.
一项意在刺激地方慈善事业增长的议案
与朱元思书原文及翻译
private ctor:non-state ctor非国有部门，私营部门
analyst n.分析家
state, tell about, or make known in advance, especially on the basis of special knowledge预测，预知，预告
investment n.投资
fixed asts固定资产（如厂房、机器设备等）
retail price零售价格
great a capacity for production of commodities or delivery of rvices in relation to actual need生产能力过剩：与实际需要相比，过大的生产工业商品能力或过多的服务
例：the problem of overcapacity in many large industries.
许多大型工业存在着生产能力过剩的问题
deflation n.[Economics] a persistent decrea in the level of consumer prices or a persistent increa in the purchasing power of money becau of a reduction in available currency and credit【经济学】 通货紧缩：由于可获得货币和信贷的减少，导致消费品价
格水平的持续下降或货币购买力的持续提高
slack demand需求不旺盛
slack a.lacking in activity; not busy清淡的：缺少活力的；不忙碌的
例：a slack ason for the travel business.
旅游业的淡季
job curity就业保障
curity n.安全；保障
wane vi.亏缺, 衰落
OVERALL ECONOMIC PERFORMANCE IN 1999
1999年度经济成就
除此之外英文
Monetary policy China's impressive money-supply growth rates continued in 1999. Deflation-fighting efforts included the issuance of more than *200 billion ($24.16 billion) in new currency last year; the institution in November of a tax on individual savings deposits;
and another round of interest rate cuts. The government also incread its reliance on open-market operations in 1999, after suspending operations through mid-1998. This could be the year Beijing further relaxes its control over loan interest rates.
Financial reforms China stepped up the pace of financial reform in 1999 and this pace is likely to continue in 2000. A few of the more high-profile moves included: establishing ast-management companies to relieve the four state banks of their bad loans; slightly looning restrictions on foreign participation in commercial banking; granting domestic insurance firms the ability to invest in clod-end curities funds; and expanding the number of listed investment funds.
The government's budget woes Government revenue, while rising of late, is still falling far short of the budget's requirements. Though the State Administration of Taxation report
ed that total revenue was up 13.4 percent in 1999, tax evasion remains a rious problem. The government has already issued billions of RMB in Treasury bonds both to help recapitalize the ailing banks and to stimulate the suffering economy, and more such outlays will be necessary before either recovers.
Foreign currency and the value of the RMB China's foreign-currency rerves reached $154.68 billion at the end of 1999, up 6.7 percent. Most analysts expect that the RMB's value will remain relatively stable this year.
Agriculture Falling agricultural prices, due to bumper harvests, were responsible for the small ri in rural incomes of only 4 percent in 1999. This was less than half of the average urban income, which ro more than 9 percent. Rural poverty is likely to be exacerbated when China joins the WTO-an additional 9.6 million farm workers are expected to lo their jobs as a result of China opening its agricultural markets.
