地方政府发行债券之门打开

短语讲解：

1. The reason is that these four regions are faced with the same problems relating to economic restructuring.

face with使面临; 把…摆在面前
例句：We are now faced with new problems.
我们正面临新的问题。
relate to涉及, 关系到…
例句：His remarks didn't relate to the topic under discussion.
他说的话与讨论的问题无关。

2. They have to transform their economic structure from being focused on manufacturing to being more focused on the service sector, as well as making a transition from low and middle end manufacturing to high-end alternatives.

focus on集中于，致力于
例句：All eyes were focused on him when he came in.
他进来时大家都注视着他。

3. Faced with the same problems, these four regions enjoy similar advantages-they are all located in coastal developed areas.

be located in坐落于..., 位于...
例句：The building is located in a business center.
该大楼位于商业中心。

4. Before Oct 20, local governments were banned from directly issuing debt - the bonds were issued by the Ministry of Finance on their behalf.

ban from禁止
例句：Bicycles are banned from the new superhighway.
禁止在高速公路骑自行车。

5. But the fact is, the ministry issued 200 billion yuan in bonds on behalf of regional governments in 2009 and again in 2010, far less than the amount local governments actually needed.

on behalf of代表…
例句：At the airport he read an address of welcome on behalf of the association.
在机场上他代表该协会致了欢迎词。

6. Lacking a funding channel, regional governments set up a number of financing vehicles, or trust companies to bypass the law and borrow from financial institutions.

set up准备; 安排
例句：All the arrangements have been set up for the newspapermen to meet the Queen.
新闻记者谒见女王的所有安排已经就绪。

7. In the past, the local governments had no right to issue bonds, so they had to borrow money from banks through financial companies

borrow from从…借入; 借用
例句：She used to borrow money from her friends.
她常向她的朋友们借钱。

8. The local governments already have a huge amount of hidden debt, why not we bring the debts out into the sunshine?

bring out使清楚; 使明显; 呈出(某物); 使(某物)显现出来
例句：The new dress brought out her hidden beauty.
那件新衣服把她潜在的美展现出来了。

9. Compared to the trillions yuan in hidden debts, this amount, several billion yuan of local governments bonds has limited power, but it represents a step forward when it comes to financial restructuring.

compare to与…相比
例句：The writer was compared to Shakespeare.
把这个作家与莎士比亚进行了比较。
when it comes to当提到……；当谈到……；当涉及到……
例句：She is lazy when it comes to schoolwork.
她一做作业就偷懒。

10. Some experts, however, are afraid that the change in issuing policy may end up simply being a financial bonus handed out by the central government.

end up结束; 最终成为〔变得〕
例句：If you don't work hard, you'll end up nowhere.
如不努力工作, 你就一事无成。
hand out分发, 发给, 散发
例句：Have you handed out the Christmas gifts?
圣诞礼物都分发出去了吗?