中国定调2012年度财政与货币政策

As the global economy continues to grapple with the aftershocks of the European and U.S. crises, all eyes are on the outlook for the world's second-largest economy.
在全球经济持续与欧洲、美国危机的余震搏斗的时候，所有的眼睛都聚焦在世界第二大经济体的前景展望上。

China is expected to maintain prudent monetary and proactive fiscal policy next year. Policies are expected to be fine-tuned as needed, in accordance with the changing needs of the economy.
据预计，中国明年将坚持稳健的货币政策和积极的财政政策。据预计，必要的时候，政策将根据经济变化的需要进行调整。

China’s central government announced it would maintain its proactive fiscal policy and prudent monetary policy in 2012. It notes though, those policies will be fine-tuned when needed. And that may very well be the case in the new year. The world’s second-biggest economy faces headwinds from the lingering European debt crisis, and a cooling property market at home. All this may prompt the government to ease monetary policy further, to sustain growth.
中国中央政府宣布，2012年将坚持积极的财政政策和稳健的货币政策。中央政府指出，尽管如此，但必要的时候，会对这些政策进行调整。这很有可能就是新一年的情况。这个全球第二大的经济体面临持久的欧债危机带来的逆风以及国内冷却的房地产市场。所有这些都可能促使政府进一步放宽货币政策，维持增长。

Li Yang, deputy director of Chinese Academy of Social Sciences said: "It’s the same wording in terms of the "prudent" monetary policy, but we will see adjustments in terms of perspective, emphasis, flexibility and even direction for the next year. In fact, we’ve already seen minor adjustment over the past two months."
中国社科院副院长李阳表示：“同样是用‘稳健的’货币政策的字眼，但是明年我们会看到有关前景、重点、灵活性，甚至是方向上的调整。事实上，去过两个月，我们已经看到微小的调整。”

China switched to its "prudent" monetary policy at the end of 2010, from a "moderately loose" stance during 2010. It was a prelude the country’s campaign this year to bring down inflation and curb housing prices.
2010年年底，中国将2010年所持的“适度宽松”态度改变为 “稳健的”货币政策。它是中国今年降低通货膨胀、抑制房价运动的开端。

The People’s Bank of China last month cut the reserve requirement ratio for banks, for the first time since 2008. That’s freed up cash to support economic expansion as Europe’s debt crisis dampens overseas demand and the domestic property market slows.
上个月，中国人民银行自2008年以来首次降低了银行的存款准备金率。在欧债危机抑制海外需求、国内房地产市场冷淡的时候，这样的做法为支持经济扩张腾出来现金。

Housing prices in most Chinese cities have fallen, as government policies aimed at cooling the property market start to take effect. Figures show that new home prices in 49 out of 70 Chinese cities dropped in November.
随着旨在为房地产市场降温的政府政策开始生效，中国大多数城市的房价下降了。数据显示，11月份，中国70个城市中有49个城市的新房价格下降了。

The central bank had hiked reserve ratios to a record high, to prevent excess lending from creating asset bubbles and stoking inflation. China’s inflation cooled to the slowest pace in 14 months in November.
为了防止过度贷款造成资产泡沫、引发通货膨胀，央行将准备金率上调至历史新高。11月，中国通货膨胀的速度放缓到14个月来的最低。

Ba Shusong with State Council’s Development Research Center said: “The "prudent" monetary policy in 2011 was targeted at inflation. But the "prudent" policy in 2012 might promote structural adjustments in order to maintain stable economic growth. So, the emphasis has changed."
国务院发展研究中心的巴曙松表示：“2011年‘稳健的’货币政策旨在降低通货膨胀。但是，2012年‘稳健的’货币政策可能是为了保持经济的稳定发展，促进结构调整。因此，重点改变了。”

China’s economy expanded 9.1 percent in the third quarter, slowing from 9.5 percent in the previous three months. Inflation eased to a 14-month low of 4.2 percent last month, from a three-year high of 6.5 percent in July. Export growth also slowed to the weakest pace since 2009 in November.
第三季度，中国经济增长从前三个月的9.5下降到9.1%。上个月，通货膨胀率从七月份的三年来最高的6.5%降低到14个月来最低的4.2%。11月的出口增长也减缓到2009年以来的最低速度。

Meanwhile, the proactive fiscal policy stance has been in effect for several years, and is seen by analysts as indicating a mildly stimulative fiscal policy with moderate budget deficits.
同时，积极的财政政策也实施了几年了，分析家将其视为温和刺激性财政政策和适度预算赤字的标志。

Looking ahead, China is hoping to balance efforts to ensure stable and relatively fast economic growth, while adjusting the economic structure and regulating inflationary expectations next year.
展望未来，明年在进行经济结构调整和通胀预期调节的同时，中国有望平衡努力，确保经济增长的稳定、相对快速。