热钱流动法律规导机制的构建 中译英 英文译文
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中华人民共和国立法法(中英文)第一章总则Chapter One: General Provisions第一条为了规范立法活动,健全国家立法制度,建立和完善有中国特色社会主义法律体系,保障和发展社会主义民主,推进依法治国,建设社会主义法治国家,根据宪法,制定本法。
Article 1 This Law is enacted in accordance with the Constitution in order to standardize lawmaking activities, to perfect state legislative institution, to establish and perfect our socialist legal system with Chinese characteristics, to safeguard and develop socialist democracy, to promote the governance of the country through legal mechanism, and to build a socialist country under the rule of law.第二条法律、行政法规、地方性法规、自治条例和单行条例的制定、修改和废止,适用本法。
Article 2 The enactment, amendment and repeal of any national law, administrative regulation, local decree, autonomous decree and special decree shall be governed by this Law.国务院部门规章和地方政府规章的制定、修改和废止,依照本法的有关规定执行。
The enactment, amendment and repeal of administrative rules promulgated by agencies under the State Council and local rules promulgated by local governments shall be carried out in accordance with the relevant provisions of this Law.第三条立法应当遵循宪法的基本原则,以经济建设为中心,坚持社会主义道路、坚持人民民主专政、坚持中国*的领导、坚持马克思列宁主义毛泽东思想邓小平理论,坚持改革开放。
法律法规中英文名称对照中华人民共和国宪法修正案AMENDMENT FOURTH TO THE CONSTITUTION OF THE PEOPLE'S R EPUBLIC OF CHINA)中国银行业监督管理委员会关于中国银行、中国建设银行公司治理改革与监管指引(Guidelines on Corpora te Governance Reforms And Supervision of Bank of China and Construction Bank of China) 外国保险机构驻华代表机构管理办法(Rules on Administration of Representative Offices of Foreign Insu rance Institutions )商业银行资本充足率管理办法(Regulation Governing Capital Adequacy of Commercial Banks)金融机构衍生产品交易业务管理暂行办法(Provisional Administrative Rules Governing Derivatives Activiti es of Financial Institutions)中华人民共和国银行业监督管理法(Law of the People’s Republic of China on Banking Regulation and Supervision)境外金融机构投资入股中资金融机构管理办法(Administrative Rules Governing the Equity Investment in Chinese Financial Institutions by Overseas Financial Institutions )汽车金融公司管理办法实施细则(Implementing Rules for the Administrative Rules Governing the Auto Financing Company)汽车金融公司管理办法(Administrative Rules Governing the Auto Financing Company )新化学物质环境管理办法(Provisions on the Environmental Administration of New Chemical substanc es )人民币银行结算账户管理办法(Administrative Rules for RMB Bank Settlement Accounts)中国人民银行假币收缴、鉴定管理办法(Administrative Rules of the People’s Bank of China for the Sei zure and Verification of Counterfeit Currency)中华人民共和国中外合作办学条例(Re gulations of the People’s Republic of China on Chinese-Foreign Cooperation in Running Schools )上海市营业性危险货物道路运输管理办法(Procedures of Shanghai Municipality on the Administration of Road Transportation of Dangerous Goods of a Business Nature)人民币大额和可疑支付交易报告管理办法(Administrative Rules for the Reporting of Large-value and Su spicious RMB Payment Transactions)上海市新建住宅配套建设与交付使用管理办法(Procedures of Shanghai Municipality on The Administrati on of All Necessary Accessory Constructions of Newly Built Residences and Making Newly Built Reside nces Available to Users )上海市公共信息图形标志标准化管理办法(Procedures of Shanghai Municipality on the Administration of the Standardization of the Graphic Signs of Public Information )上海市民防工程建设和使用管理办法(Procedures of Shanghai Municipality on Administration of Constr uction and Use of Civil Defense Projects )外汇指定银行办理结汇、售汇业务管理暂行办法(Provisional Procedures for Designated Bank’s Purchase and Sale of Foreign Exchange)金融统计管理规定(Administrative Rules for Financial Statistics )上海市促进行业协会发展规定(Provisions of Shanghai Municipality on Promoting the Development of Trade Association )金融机构反洗钱规定(Rules for Anti-money Laundering by Financial Institutions )中华人民共和国商标法实施条例(2002)(Implementing Regulations of the Trademark Law of the People' s Republic of China)危险化学品安全管理条例(Regulations on the Control over Safety of Dangerous Chemicals)上市公司治理准则(Code of Corporate Governance for Listed Companies in China)金融机构撤销条例(Regulations on Closure of Financial Institutions)关于中华人民共和国加入的决定(ACCESSION OF THE PEOPLE'S REPUBLIC OF CHINA)中华人民共和国加入议定书(Protocol on the Accession of the People's Republic of China)中国在过渡性审议机制中提供的信息2(Annex 1A: Information to be Provided by China in the Context of the Transitional Review Mechanism)根据《补贴与反补贴措施协定》第25条作出的通知(Annex 5A: Notification Pursuant to Article XXV of t he Agreement on Subsidies and Countervailing Measures)总理事会依照《中国加入议定书》第18条第2款处理的问题(Annex 1B: Issues to be Addressed by the General Council in Accordance with Section 18.2 of China's Protocol of Accession) 需逐步取消的补贴(Annex 5B: Subsidies to be Phased Out)中国加入工作组报告书(Report of the Working Party on the Accession of China )中华人民共和国著作权法(2001)(Copyright Law of the People''s Republic of China(2001) )中华人民共和国职业病防治(Code of Occupational Disease Prevention of PRC)中华人民共和国商标法(2001)(Trademark Law of the People''s Republic of China(2001) )中华人民共和国防沙治沙法(Law of the People's Republic of China on Desert Prevention and Transf ormation)专利法实施细则(2001)(Implementing Regulations of the Patent Law (2001))中华人民共和国婚姻法(2001)(Marriage Law of the People's Republic of China )集成电路布图设计保护条例(Regulations on the Protection of Layout-Designs of Integrated Circuits)互联网站从事登载新闻业务管理暂行规定(Interim Provisions for Administration of Internet Websites’ Pu blishing News)互联网信息服务管理办法(Measures for Administration of Information Service via Internet)中华人民共和国境内外国人宗教活动管理规定实施细则(Rules on Administration of Religious Activities of Aliens in China)中华人民共和国专利法(2000年修订版)(Patent Law of the People's Republic of China (Revised on 8/2 5/2000))中华人民共和国飞行基本规则(The Basic Regulations of Aviation of the People’s Republic of China) 中华人民共和国产品质量法(Product Quality Law of the People's Republic of China (Amended on 7/ 8/2000))中华人民共和国大气污染防治法(2000)(Law of the People's Republic of China on the Prevention and Control of Atmospheric Pollution(2000))中华人民共和国水污染防治法实施细则(Rules for Implementation of the Law on the Prevention and C ontrol of Water Pollution (Amended on 3/20/2000))个人存款账户实名制规定(Provisions on the Real Name of Individual Deposit Account)中华人民共和国立法法(Legislation Law)保险公司管理规定(Regulations on the Administration of Insurance Companies )中华人民共和国森林法实施条例(Regulations for the Implementation of Forestry Law of the People's R epublic of China)银行条例(BANKING ORDINANCE)中华人民共和国海洋环境保护法(2000) (Marine Environment Protection Law of the People's Republic of China(2000))统一域名争议解决办法补充规则(Supplemental Rules for Uniform Domain Name Dispute Resolution Po licy )关于适用《中华人民共和国合同法》若干问题的解释(一)(The Supreme People's Court's Interpretation s of Certain Issues Concerning the Application of The Contract Law)国务院关于国家行政机关和企业事业单位社会团体印章管理的规定(The Rules on the Administration of th e Seals of the State Administrative Departments, Enterprises and Institutions and the Social Organizatio ns of the State Council)中华人民共和国会计法(The Law on Accountancy of the People's Republic of China)中华人民共和国气象法(Meteorology Law of the People's Republic of China)统一域名争议解决办法程序规则(Rules for Uniform Domain Name Dispute Resolution Policy)商用密码管理条例(Regulations on the Commercial Passwords)中华人民共和国个人独资企业法(Sole Proprietorship Enterprise Law of the People's Republic of China )中华人民共和国植物新品种保护条例实施细则(林业部分)(RULES FOR THE REGULATIONS OF THE P EOPLES REPUBLIC OF CHINA ON PROTECTION OF NEW VARIETIES OF PLANTS) 价格违法行为行政处罚规定(Rules of Administrative Sanctions on Price Offense)关于价格违法行为行政处罚规定(Administrative Rules on the Penalties for Price Offense)中华人民共和国植物新品种保护条例实施细则(农业部分)(Implementing Rules for the Regulations of t he People’s Republic of China on the Protection of New Varieties of Plants (Agricultu re Part) ) 计算机软件保护条例(REGULATIONS FOR THE PROTECTION OF COMPUTER SOFTWARE)上海市拆除违法建筑若干规定(Provisions of Shanghai Municipality on the Demolition of Illegal Buildin g )上海市村民委员会选举办法(Procedures of Shanghai Municipality on the Election of the Villagers' Co mmittee)饲料和饲料添加剂管理条例(Administrative Regulations on Feed and Feed Additive)中华人民共和国行政复议法(Law of the People's Republic of China on Administrative Reconsideration)上海市体育竞赛管理办法(Procedures of Shanghai Municipality on Administration of Sports Contests )中华人民共和国合同法(CONTRACT LAW OF THE PEOPLE'S REPUBLIC OF CHINA )中华人民共和国澳门特别行政区第九届全国人民代表大会代表的产生办法(Procedures for the Election of delegates of the Macao Special Administrative Region of the People’s Repubilc of China to the Ninth National People’s Congress)金融违法行为处罚办法(Methods of Punishment against Financial Malfeasance)上海市空中飞行器广告管理若干规定(Provisions of Shanghai Municipality on the Control of Aerial Adv ertising by Measures of Aircraft )上海市失业保险办法(Procedures of Shanghai Municipality on Unemployment Insurance )上海市户外广告设置规划和管理办法(Procedures of Shanghai Municipality on the Installation, Plannin g and Administration of Outdoor Advertisements )上海市燃气管理条例(Regulations of Shanghai Municipality on the Administration of Fuel Gas )失业保险条例(Regulations on Unemployment Insurance )社会保险费征缴暂行条例(Interim Regulations on the Collection and Payment of Social Insurance Premiums)国家外汇管理局、海关总署关于使用进出口报关单联网核查系统有关问题的通知(NOTIFICATION ON HOW TO USE THE 'VERIFICATION SYSTEM FOR IMPORT AND EXPORT CUSTOMS DECLARATION FO RM NETWORK' )上海市公有住房差价交换试行办法(Procedures of Shanghai Municipality on Public Housing Exchange With Price Differences (For Trial Implementation) )中华人民共和国政府和厄立特里亚国政府文化协定一九九九、二○○○、二○○一年执行计划(EXECUTIVE PR OGRAMME OF THE CULTURAL AGREEMENT BETWEEN THE GOVERN- MENT OF THE STATE OF ERITREA AND THE GOVERNMENT OF THE PEOPLE'S REPUBLIC OF CHINA FOR 1999,2000,2001 EXECUTIVE PROGRAMME OF THE CULTURAL AGREEMENT BETWEEN THE GOVERNMENT OF T HE STATE OF ERITREA AND THE GOVERN- MENT OF THE PEOPLE'S REPUBLIC OF CHINA FOR 1999, 2000, 2001)全国人民代表大会常务委员会关于《中华人民共和国国籍法》在澳门特别行政区实施的几个问题的解释(Int erpretations of the Standing Committee of the National People’s Congress Concerning Questions on the Impelmentation of the Nationality Law of the People’s Republic of China in th e Macao Special Adminis trative Region)中华人民共和国证券法(Securities Law of the People’s Republic of China)全国人民代表大会常务委员会关于惩治骗购外汇、逃汇和非法买卖外汇犯罪的决定(Decision of the Standi ng Committee of the National People’s Congress on the Punishment of Crimes of Purchase of F oreign Currencies by Deceitful Means, Foreign Exchange Evasion and Illegal Buying and Selling of Foreign Cu rrencies)中华人民共和国土地管理法实施条例(Regulations on the Implementation of the Land Administration La w of the People’s Republic of China (1998))基本农田保护条例(Regulations on the Protection of Basic Farmland (1998))上海市政府采购管理办法(Procedures of Shanghai Municipality on the Administration of Government Purchasing )上海市产权交易管理办法(Procedures of Shanghai Municipality on the Administration of Transactions i n Property Rights )国务院关于建立城镇职工基本医疗保险制度的决定(The Decision of the State Council on Setting up B asic Medical Insurance System for Staff Members and Workers in Cities and Towns)。
金融规章制度中英文对照金融行业是一个国家经济系统中至关重要的组成部分,它对国家经济的稳定性和发展起着至关重要的作用。
金融规章制度是为了规范金融行业的运作,保护投资者权益,预防金融风险而建立起来的一套制度体系。
本文将介绍一些常见的金融规章制度,并对其进行中英对照。
The financial industry is a crucial component of a country's economic system, playing a vital role in the stability and development of the national economy. Financial regulations are established to regulate the operation of the financial industry, protect the rights and interests of investors, and prevent financial risks. This article will introduce some common financial regulations and provide a comparison between the Chinese and English versions. 1. 证券法 Securities Law《证券法》是中国国家对证券市场的管理和监督所制定的法律文件。
该法律主要包括证券的发行、上市、交易、中介服务等方面的规定,确保证券市场的稳定和秩序。
下面是《证券法》的中英对照:Chinese Version:第一章总则第一条为了规范证券市场行为,保护投资者合法权益,促进证券市场健康发展,制定本法。
第二条本法所称证券是指国家法定的股票、债券等有价证券,以及法定的其他证券。
English Version:Chapter I General ProvisionsArticle 1 In order to regulate the behaviors in the securities market, protect the legitimate rights and interests of investors, and promote the healthy development of the securities market, this Law is formulated.Article 2 The term "securities" as mentioned in this Law refers to the legally recognized stocks, bonds, and other securities, as well as other securities specified by law.2. 银行法 Banking Law《银行法》是对金融机构进行管理和监管的法律基础,其主要目的是确保金融机构稳健经营,维护金融体系的稳定性。
the law of securities regulationSecurities regulation refers to the set of laws and regulations that govern the issuance, sale, and trading of securities in a given jurisdiction. The law of securities regulation usually varies from country to country but generally aims to protect investors, ensure fair and transparent markets, and maintain the integrity and stability of the financial system.Some common aspects of the law of securities regulation include:1. Disclosure requirements: Companies offering securities to the public must provide accurate and complete information about their financial condition, business operations, risks, and any other material facts that could influence an investor's decision to buy or sell the securities.2. Registration and licensing: Laws often require companies to register their securities offerings with a regulatory authority and obtain necessary licenses or permits to conduct securities-related activities.3. Prohibition against fraud and market manipulation: Securities laws typically prohibit fraudulent activities such as misrepresentation, insider trading, market manipulation, and other deceptive practices that could harm investors or compromise the integrity of the markets.4. Investor protection: Securities regulations often include provisions to protect investors, such as rules regarding the financial responsibility and conduct of securities professionals and theestablishment of investor compensation funds.5. Market supervision and enforcement: Regulatory authorities are responsible for monitoring and overseeing the securities markets, enforcing compliance with securities laws, and imposing penalties for violations.6. Anti-money laundering and counter-terrorism financing: Many securities regulations require firms to implement measures to detect and prevent money laundering and the financing of terrorism through securities transactions.7. Cross-border regulations: With the globalization of financial markets, securities regulations often address the cross-border aspects of securities offerings and trading to ensure consistency and coordination between different jurisdictions.It is important to note that specific securities regulations can differ significantly between countries and their legal systems. Investors and market participants should consult the relevant laws and regulations applicable to their jurisdiction for more detailed information.。
经贸热词英译流通中得现金moneyincirculation狭义货币narrowmoney广义货币broad money ?最低生活保障系统a minimum l ivingstandardsystem帐户Account会计等式Accountingequation会计系统Accounting system ?一切险All Risks美国会计协会American AccountingAssociation?美国注册会计师协会American InstituteofCPAs ?勾稽关系Articulation资产Assets审计Audit坏帐bad account资产负债表Balancesheet空白背书blank endorsed簿记Bookkeepking个体Business entity股本Capital stock ?承运货物收据cargoreceipt ?现金流量预测Cash flowprospects商品目录catalogue ?内部审计证书Certificate in InternalAuditing管理会计证书Certificate in Management Accounting注册会计师Certificate Public Accountant?中国证监会China Securities Regulatory mission?中国四大商业银行Chi na's“Big Four"mercial banks ?封闭式基金close-endedfund佣金mission收货人consignee公司Corporation成本会计Costaccounting ?成本加运费价格costand freight CFR成本加运保费costinsurance and freightCIF成本原则Cost principle?债权人Creditor?分红cut a melon呆帐dead account?通货紧缩Deflation ?交货delivery 批露Disclosure股息,红利dividend,bonusstock低迷时期downturn背书endorsed实行股份制enforce stockholding system ?费用Expenses出口部exportdepartment外部使用者External users ?平安险F、P、A、(Freefrom Particular Average) ?淡水雨淋险F、W、R、D、(Fresh WaterRain Damage)面值face value费改税fees-for-tax reform财务会计Financial accounting ?财务会计准则委员会Financial Accounting Standards Board筹资活动Financial activities ?财务预测Financial forecast ?财务报表Financial statement?外汇储备for eignexchange reservers期货市场futuresmarket公认会计原则Generally acceptedaccounting principles?通用目得信息General-purposeinFORMation基因改良产品genetically-modified products持续经营假设Going-concern assumption?会计办公室Government AccountingOffice govern钩损险HookDamage进口部importdepartment ?损益表Ine statement?所得税ine tax参考价格indicative price ?通货膨涨Inflation?询盘Inqui ry ?内部审计师协会Instituteof Internal Auditors 管理会计师协会Institute ofManagementAccountants?整合性Integrity内部审计Internalauditing内部控制结构Internalcontrol structure ?国内收入署Internal RevenueService内部使用者Internal users投资活动Investing activities知识经济knowledge-based economy劳动密集型经济labour-intensive economy负债Liabilities管理会计Management accounting?海运提单marine b illsoflading国债nationalbonds国有化nationalize;nationalization负现金流量Negative cashflow?不良贷款non-performingloan ?非劳动收入non-work ine?被通知人notify ?开放式基金open-ended fund经营活动Operating activities ?订货order?存款余额outstanding of deposits ?所有者权益Owner'sequity?分批装运partial shipment合伙Partnership ?正现金流量Positive cashflow记者招待会press conference?价目表price list私有化privatize;privatization ?积极得财政政策proactivefiscal measures ?提高企业自主权promoteindependent decision-making by state-owned enterprises公关部public relationsdepartment ?公有经济publicl yowned economy衰退时期recession?整顿市场秩序rectifythe mar ket order国有股减持reduce state'sstake in listed panies贸易管制restraintof trade留存利润Retainedearning ?投资回报Return of investment ?投资报酬Returnoninvestment?收入Revenue 混杂、玷污险Risk of Intermixture andContamination?渗漏险Risk ofLeakage ?串味险Risk of odor?锈蚀险Risk of Rust?销售条件sales terms and conditions 证券交易委员会Securities andExchange mission ?股份制shareholding system; joint-stock system托运单shipping order短缺险ShortageRisk独资企业Sole proprietorship清偿能力Solvency ?规格specification稳定货币假设Stable-dollarassumption?国有股减持statestock reduction ?现金流量表Statementofcashflo w?财务状况表Statement of financial position稳健得货币政策steadymonetary policies ?股东Stockholders股东权益Stockholders'equity加强政府宏观调控作用streghten the government's macro- regulatory functions罢工险Strikes Risk?偷窃提货不着险T、P、N、D、( Thef t,Pilferage &Non-delivery)?税务会计Taxaccounting技术密集型经济technology-intensiveeconom y?道琼斯工业平均指数the DowJonesindustrial avera ge?第一大股东the first majorityshareholder ?恒生指数the HangSeng index ?交易薄弱thin trade ?控股tobee the majority shareholder/to take a controlling stake ?扩大内需to expanddomestic demand ?增值税value-add ed tax ?水渍险W、A、/W、P、A(With Average or WithParticular Average)战争险War Risk门面粉饰Windowdressing?与去年同期数字相比得year-on-year ?牛市, 多头市场bull market:熊市,空头市场bear market:股息,红利dividend or bonus stock?国民生产总值GNP (GrossNational Product)人均国民生产总值per capita GNP产值outputvalue鼓励giveincentive to投入input?宏观控制exercise macro-control优化经济结构optimize theeconomicstructure输入活力bring vigor into改善经济环境improve economicenvironment?整顿经济秩序rectify economic order?有效地控制通货膨胀e ffectively control inflation?非公有成分non-public sectors主要成分dominant sector?实在得tangible?全体会议plenarysession解放生产力liberate/unshackle/releasetheproductive forces引入歧途lead one toa blind alley?举措move实事求就是seektruth fromfacts?引进、输入importation?与平演变peaceful evolution试一下have a go (at sth、)精华、精粹、实质quintessence?家庭联产责任承包制family-contract responsibility system?搞活企业invigorate en terprises?商品经济modity economy基石cornerstone零售retail?发电量electric energy production有色金属nonferrous metals?人均收入per capita ine?使负担be saddled with营业发达得公司goingconcerns被兼并或挤掉annexed or forced out ofbusiness?善于接受得receptive?增额、增值、增长increment发展过快excessive growth抽样调查datafrom the sample survey扣除物价上涨部分price increase arededucted(excluded) 实际增长率actual growthrate?国际收支intern ationalbalance ofpayments?流通制度circulation sys tem总工资total wages分配形式FORMsof distribution风险资金riskfunds管理不善poor management一个中心、两个基本点one centraltaskand two basic p oints?经济结构改革reformin economicstructure?剩余劳动力surplus labor?经营机制operative mechanism 发挥市场得调节作用to giveplaytothe regulatory rol eof themarket经济与法律得杠杆economic and legal leverages经济计划与市场调节相结合tobine economicplanningwithmarket regulation? farming林业forestry?畜牧业animalhusbandry副业sideline production?渔业fishing生产资料means of production生活资料means of livelihood/subsistence?生产关系relations ofproduction生产力productiveforces?公有制public ownership?私有制privateownership全民所有制ownership bythe entire/whole people?社会主义集体所有制socialistcollective ownership 厉行节约,反对浪费topractice strict economy and bat waste外资企业foreign-funded enterprise合资企业joint venture?合作企业cooperative enterpris e独资企业whollyforeign owned/funded enterprise世界贸易组织World TradeOrganization中国人民银行People's BankofChina信息产业部Ministryof InFORMation Industry国家发展计划委员会State Development Planningmission贷款无力偿还loan defaults经济指标economic indicators社会总产值totalproduct of society国民生产总值GNP (Gross DomesticProduct)?国内生产总值GDP(Gross DomesticProduct)?人均国内生产总值GDPper capita工总产值gross output value of industry and agricultu re国民收入nationaline购买力平价法purchasing powerparity ?财政收入stat erevenue社会商品零售总额total volume of retail sales ?社会零售物价总指数general retail price index百分点percentage points“八五"划划the 8th Five-Year Plan for National Eco nomicand Social Development ?计划经济plannedeconomy ?统购统销state monopolyover purchase andmarketing市场经济market economy ?指令性计划mandatoryplan ?指导性计划guidance plan?市场调节marketregulation?第一、二、三产业primary, secondary andtertiary industries?外向型经济export-orientedeconomy?创汇型企业foreignexchange-earning enterprise劳动密集型labor intensive ?技术、智力、资本密集型technology, knowledgeorcapitalintensive 高附加值得深加工down-streamprocessing with high added-value优化资源配置optimize allocation of resources生产力productive forces?生产资料capitalgoods科研成果产业化industrialization of research findings火炬计划TorchPlan ?技术入股technology appraised as capital stock?风险投资ventureinvestment/capital 固定资产投资investment in fixed assets折旧费depreciation cost关系民生得产品products vitalto thepeople's livelihood供大于求oversupply供不应求short supply ?经济过热overheatedeconomy抑制炒房地产热stemfrenzied and speculativetra dingin theproperty market?宏观调控macro-econom iccontrol?经济杠杆economic levers?产业政策ind ustrial policy ?提高经济效益enhanceeconomicperformance/returns ?社会效益social effect/returns 财政赤字(盈余) budgetdeficit(surplus) ?外贸出口总额gross foreignexportvalue外商直接投资协议金额contractedforeign direct investment?实际利用外资foreign investment inactualuse ?允许外商独资经营allow full foreignequityoperation优惠条件confessionalterms;favorable terms减免税收tax reduction andexemption ?合作方式approaches to cooperation?出资方式means of contributing investment合营期限contract term of ajointventure贸易伙伴trade partner ?转口贸易transit trade?外贸顺差foreign tradesurplus交钥匙工程turn-key project?招标承包制biddinginvitation contract system?招标出售技术bids for technology公开招标callfor bid; tenders招标单invitation for bid(IFB)标书bidding document竟标petitivebidding投标bidfor a project?投标报价书bid proposals ?评标bidproposal evaluation开标bid opening?中标win a bid;be awarded a tender?拍卖auction租赁leasing?保税区bonded area;freetrade area实行全方位开放practicemulti-directional opening?知识产权intellectual property rights技术转让technology transfer可行性研究feasibility study意向书letterof intent投资环境investment environment ?跨国公司transnational coorporation基础设施infrastructure?20年基本实现现代化basically achieve modernizationin 20years招商attractinvestment ?招商项目projectproposals for investment加大力度intensify reforms一条龙服务one package service一支笔审批one-chop approval?经济实力economiccapabilities ?龙头pacemaker; leadingrole ?消灭失业wipeoutunemployment瓶颈bottleneck?以工养农use industrial ine tofinanceagriculture ?以路养路use tollsto repay in vestmentin road projects?下放审批权delegate theauthorityto examineand approveto lowerleve ls ?统而不死,活而不乱ensureaflexible control?良性循环positive cycle?国民经济得支柱mainstayofthe national economy ?格局初步形成Patternhastakeninitial shape、理顺企业得产权关系rationalize the property rightsrelat ionshipsofenterprises?政策性亏损policy-related loss 三角债chain debts上不封顶,下不保底set noceilinglimit andgive no minimum guarantee ?企业“工效挂钩” link total payroll w ith the performanceof an enterprise ?生意兴隆/冷淡Businessis booming/sluggish质量信得过单位qualitytrustworthyorganization ?批量生产mass production ?以销定产limit production to marketability内联企业inland associatedenterprises ?菜篮子工程shipping basket project?国产化percentage of home -made parts配套coordinatedreforms?配套措施supportingmeasures配套工程auxiliary project国内配套资金domestic funds向基础倾斜得政策policyin favorofbasicindustry升级换代upgrading and updating ?瞧好经济增长thinkhighly of economic growth?行情瞧好Favorablepri ce/marketcanbe expected、?行情瞧涨/跌anticipatelower marketprice/risingprice ?随行就市fluctuate inlinewith market conditions ?片面追求发展速度seek anunduly high growth rate?在过渡时期in a periodof tra nsition ?粗放/集约经营extensive/intensive operation ?基础地位leading position?门类齐全covering extensivef ields?存款/贷款余额thebalance of deposits/loans 外汇储备foreign exchangereserves贸易顺差tradesurplus紧缩银根tighten the money supply?一位数水平one digitlevel ?保持双边贸易得平衡balance the two-way trade ?市场疲软amarketslump?库存积压overstockedproducts国家指令性计划state mandatory planning统一定价unifiedprice setting国家统配物资materials allocated by state ?货币发放the issue of currency?规范价格秩序standardize theprice order?、。
法律条例英文【篇一:常用法律条文英文版本】常用法律条文英文版本|法律英语天网恢恢,疏而不漏。
2.an act is not a crime unless the law says it is one.法无明文规定者不为罪。
3.this contract is made of one original and two duplicate originals, all of which are of the same effect.本合同一式三份,具有同等效力。
4. the law does not concern itself about family trifles.法律难断家务事。
5.this document is legally binding.该文件具有法律约束力。
6. this law is in abeyance.此法暂缓执行。
7. this law has become a dead letter.此法已成为一纸空文。
8. this law will go into effect on the day of its promulgation.本法自公布之日起施行。
9 the court dismissed the action.法院驳回诉讼。
10. the court ordered the case to be retried.法院命令重审此案。
.11.giving the killer what he deserves.予杀人者以应得之罪。
12. hate the sin but not the sinner.可恨的是罪行而非罪人。
13.everyone has the right to freedom of expression.每个人都享有言论自由。
14. everyone is equal before the law.法律面前人人平等。
15. first in time, first in right.先在权利优先。
Authorized Release: The Renewable Energy Law The People's Republic of China (Full Text)T able of ContentsChapter 1 GeneralChapter 2 Resource Survey and Development PlanChapter 3 Industry Guidance and Technology SupportChapter 4 Promotion and ApplicationChapter 5 Price Management and Fee SharingChapter 6 Economic Incentives and Supervisory Measures Chapter 7 Legal ResponsibilitiesChapter 8 MiscellaneousChapter 1. GeneralArticle 1—In order to promote the development and utilization of renewable energy, improve the energy structure, diversify energy supplies, safeguard energy security, protect the environment, and realize the sustainable development of the economy and society, this Law is hereby prepared.Article 2—Renewable energy in this law refers to non-fossil energy of wind energy, solar energy, water energy, biomass energy, geothermal energy, and ocean energy, etc.Application of this Law in hydropower shall be regulated by energy authorities of the State Council and approved by the State Council.This Law does not apply to the direct burning of straw, firewood and dejecta, etc. on low-efficiency stove.Article 3—This Law applies to territory and other sea area of the People’s Republic of China.Article 4—The Government lists the development of utilization of renewable energy as the preferential area for energy development and promotes the construction and development of the renewable energy market by establishing total volume for the development of renewable energy and taking corresponding measures.The Government encourages economic entities of all ownerships to participate in the development and utilization of renewable energy and protects legal rights and interests of the developers and users of renewable energy on the basis of law.Article 5—Energy authorities of the State Council implement management for the development and utilization of renewable energy at the national level. Relevant departments of the State Council are responsible for the management of relevant development and utilization of renewable energy within their authorities.Energy authorities of local people’s governments above the county level are responsible for the management of the development and utilization of renewable energy within their own jurisdiction. Relevant departments of local people’s governments above the county level are responsible for the management of relevant development and utilization of renewable energy within their authorities.Chapter 2 Resource Survey and Development PlanArticle 6—Energy authorities of the State Council are responsible for organizing and coordinating national surveys and management of renewable energy resources, and work with related departments to establish technical regulations for resource surveys.Relevant departments of the State Council, within their respective authorities, are responsible for related renewable energy resource surveys. The survey results will be summarized by the energy authorities in the State Council.The result of the survey of renewable energy shall be released to the public, with the exception of confidential contents as stipulated by the Government.Article 7—Energy authorities of the State Council sets middle and long-term target of the total volume for the development and utilization of renewable energy at the national level, which shall be implemented and released to the pubic after being approved by the State Council.Energy authorities of the State Council shall, on the basis of the target of total volume in the previous paragraph, as well as the economic development and actual situation of renewable energy resources of all provinces, autonomous regions and municipalities, cooperate with people’s governments of provinces, autonomous regions and municipalities in establishing middle and long-term target and release it to the public.Article 8—Energy authorities of the State Council shall, on the basis of the middle and long-term total volume target of renewable energy throughout the country, prepare national renewable energy development and utilization plan, which is to be implemented after being approved by the State Council.Energy authorities of the people’s governments at the level of province, autonomous region and municipality shall, on the basis of the middle and long-term target for the development and utilization of renewable energy, cooperate with relevant authorities of the people’s governments at their own level in preparing national renewable energy development and utilization plan for their own administrative regions, which shall be implemented after being approved by people’s governments at their own level.The approved plan shall be released to the public, with the exception of confidential content as stipulated by the government.In case that the approved plan needs to be modified, approval of the original approving authorities shall be obtained.Article 9—In preparing the plan for the development and utilization of renewable energy, opinions of relevant units, experts and the public shall be solicited and the scientific reasoning shall be done.Chapter 3 Industry Guidance and Technology SupportArticle 10—Energy authorities in the State Council shall, in accordance with the national renewable energy development plan, prepare and promulgate development guidance catalogs for renewable energy industries.Article 11—Standardization authorities of the State Council shall set and publicize technical standard for renewable energy electric power and the technical standards for relevant renewable technology and products for which technical requirements need to be standardized at the national level.For those technical requirements not dealt with in the national standard in the previous paragraph, relevant authorities of the State Council may establish relevant industrial standard, which shall be reported to the standardization authorities of the State Council for filing.Article 12—The government lists scientific and technical research in the development and utilization of, and the industrialized development of, renewable energy, as the preferential area for hi-tech development and hi-tech industrial development in the national program, and allocates funding for the scientific and technical research, application demonstration and industrialized development of the development and utilization of renewable energy so as to promote technical advancement in the development and utilization of renewable energy, reduce the production cost of renewable energy products and improve the quality of products. Education authorities of the State Council shall incorporate the knowledge and technology on renewable energy into general and occupational education curricula.Chapter 4 Promotion and Application.Article 13—The Government encourages and supports various types of grid-connected renewable power generation.For the construction of renewable energy power generation projects, administrative permits shall be obtained or filing shall be made in accordance with the law and regulations of the State Council.In the construction of renewable power generation projects, if there is more than one applicant for project license, the licensee shall be determined through a tender.Article 14—Grid enterprises shall enter into grid connection agreement with renewable power generation enterprises that have legally obtained administrative license or for which filing has been made, and buy the grid-connected power produced with renewable energy within the coverage of their power grid, and provide grid-connection service for the generation of power with renewable energy.Article 15—The Government supports the construction of independent renewable power systems in areas not covered by the power grid to provide power service for local production and living.Article 16—The Government encourages clean and efficient development and utilization of biological fuel and encourages the development of energy crops.If the gas and heat produced with biological resources conform to urban fuel gas pipeline networks and heat pipeline networks, enterprises operating gas pipeline networks and heat pipeline networks shall accept them into the networks.The Government encourages the production and utilization of biological liquid fuel. Gas-selling enterprises shall, on the basis of the regulations of energy authorities of the State Council or people’s government at the provincial level, include biological liquid fuel conforming to the national standard into its fuel-selling system.Article 17—The Government encourages workplaces and individuals in the installation and use of solar energy utilization systems of solar energy water-heating system, solar energy heating and cooling system and solar photovoltaic system, etc.Construction authorities of the State Council shall cooperate with relevant authorities of the State Council in establishing technical economic policies and technical standards with regard to the combination of solar energy utilization system and construction.Real estate development enterprises shall, on the basis of the technical standards in the previous paragraph, provide necessary conditions for the utilization of solar energy in the design and construction of buildings.For buildings already built, residents may, on the condition that its quality and safety is not affected, install solar energy utilization system that conform to technical stdnards and product standards, unless agreement has been otherwise reached between relevant parties.Article 18—The Government encourages and supports the development and utilization of renewable energy in rural areas.Energy authorities of local people’s governments above the county level shall, on the basis of local economic and social development, ecological protection and health need, etc., prepare renewable energy development plan for the rural area and promote biomass energy like the marsh gas, etc. conversion, household solar energy, small-scale wind energy and small-scale hydraulic energy, etc.People’s government above the county level shall provide financial support for the renewable energy utilization projects in the rural areas.Chapter 5 Price Management and Fee SharingArticle 19—Grid power price of renewable energy power generation projects shall be determined by the price authorities of the State Council in the principle of being beneficial to the development and utilization of renewable energy and being economic and reasonable, where timely adjustment shall be made on the basis of the development of technology for the development and utilization of renewable energy. The price for grid-connected power shall be publicized.For the price of grid-connected power of renewable power generation projects determined through tender as stipulated in the 3rd paragraph of Article 13 hereof, the bid-winning price shall be implemented; however, such a price shall not exceed the level of grid-connected power of similar renewable power generation projects. Article 20—The excess between the expenses that power grid enterprises purchase renewable power on the basis of the price determined in Article 19 hereof and the expenses incurred in the purchase of average power price generated with conventional energy shall be shared in the selling price. Price authorities of the State Council shall prepare specific methods.Article 21—Grid connection expenses paid by grid enterprises for the purchase of renewable power and other reasonable expenses may be included into the grid enterprise power transmission cost and retrieved from the selling price.Article 22—For the selling price of power generated from independent renewable energy power system invested or subsidized by the Government, classified selling price of the same area shall be adopted, and the excess between its reasonable operation, management expenses and the selling price shall be shared on the basis of the method as specified in Article 20 hereof.Article 23—The price of renewable heat and natural gas that enters the urban pipeline shall be determined on the basis of price management authorities in the principle of being beneficial to the development and utilization of renewable energy and being economic and reasonable.Chapter 6 Economic Incentives and supervisory measures Article 24—The Government budget establishes renewable energy development fund to support the following:1. Scientific and technological research, standard establishment and pilotproject for the development and utilization of renewable energy;2. Construction of renewable energy projects for domestic use in rural andpasturing areas;3. Construction of independent renewable power systems in remote areasand islands;4.Surveys, assessments of renewable energy resources, and theconstruction of relevant information systems;5. Localized production of the equipment for the development andutilization of renewable energy.Article 25—Financial institutions may offer preferential loan with financial interest subsidy to renewable energy development and utilization projects that are listed in the national renewable energy industrial development guidance catalogue and conform to the conditions for granting loans.Article 26—The Government grants tax benefits to projects listed in the renewable energy industrial development guidance catalogue, and specific methods are to be prepared by the State Council.Article 27—Power enterprises shall authentically and completely record and store relevant materials of renewable energy power generation, and shall accept the inspection and supervision of power supervisory institutions.Power supervisory institutions shall do the inspection in accordance with stipulated procedures, and shall keep commercial secret and other secret for inspected units.Chapter 7 Legal ResponsibilitiesArticle 28—If energy authorities of the State Council and the people’s governments above the county level as well as other relevant authorities breach this Law and have one of the following, people’s government of their own level or relevant authorities of the superior people’s governments may order them to make correction, and impose administrative penalty for competent personnel that are liable and other personnel directly liable; in case that such breaches constitute crime, criminal liabilities shall be legally pursued.1. Failure to make administrative licensing decision in accordance with law;2. Failure to make an investigation when illegal activities are dicovered;3. Other acts of not legally performing supervision and management responsibilities.Article 29—If the power grid enterprises breach Article 14 hereof and fail to purchase renewable power in full, which results in economic loss to the renewable power generation enterprises, such power grid enterprises shall be liable for compensation, and the national power supervisory institutions shall order them to make correction within a stipulated period of time; in case of refusal to make correction, a fine of less than the economic loss of the renewable power generation enterprises shall be imposed.Article 30—In case that enterprises of natural gas pipeline network and heat pipeline network breach paragraph 2 of Article 16 hereof and do not permit the connection of natural gas and heat that conform to the grid connection technical standard into the network, which results in economic loss to the gas and heat production enterprises, relevant enterprises shall be liable for compensation, and energy authorities of the people’s government at the provincial level shall order them to make correction within a stipulated period of time; in case of refusal to make correction, a fine of less than said economic loss shall be imposed against them.Article 31—If gas-selling enterprises breach paragraph 3 of Article 16 hereof and fail to include biological liquid fuel that conforms to the national standard into its fuel-selling system, which results in economic loss to the biological liquid fuel production enterprises, relevant enterprises shall be liable for compensation, and energy authorities of the State Council or peopl e’s government at the provincial level shall order them to make correction within a stipulated period of time; in case of refusal to make correction, a fine of less than said economic loss shall be imposed against them.Chapter 8 MiscellaneousArticle 32—Terms used herein shall have the following meanings:1.Biomass energy: means energy converted from natural plants, rejecta as wellas urban and rural organic waste.2.Renewable energy independent power system: means independent renewablepower system not connected to the power grid.3.Energy crop: means herbage and wood plants specially planted and used as rawmaterials of energy.4.Biological liquid fuels: means methanol, ethanol, bio-diesel and other liquidfuels derived from biomass resources.Article 33—This Law shall become effective on Jan 1st, 2006.。
资金调拨管理制度英语翻译1. IntroductionThe Funds Transfer Management System (FTMS) is a comprehensive set of policies and procedures designed to regulate the movement of funds within the company. The FTMS provides the framework for managing and controlling the transfer of funds between accounts, departments, and entities. This system is essential in ensuring transparency, accountability, and compliance with regulatory requirements and internal controls.2. PurposeThe primary purpose of the FTMS is to ensure the efficient and secure transfer of funds within the organization. It aims to minimize the risk of fraud, error, and misuse of funds, while also ensuring that funds are allocated and utilized in accordance with the company's strategic objectives and financial policies.3. ScopeThe scope of the FTMS includes all activities related to the transfer of funds within the organization, including but not limited to:- Transfers between bank accounts- Transfers between departments- Transfers to and from subsidiaries or affiliated entities- Payments to vendors and suppliers- Capital investments and divestments- Loans and borrowings4. GovernanceThe FTMS is governed by a dedicated Funds Transfer Committee, comprised of senior management and finance personnel. The Committee is responsible for overseeing the implementation, monitoring, and review of the FTMS to ensure its effectiveness and compliance with internal and external requirements.5. Roles and ResponsibilitiesThe FTMS assigns specific roles and responsibilities to individuals involved in the funds transfer process, including:- The Funds Transfer Committee, which oversees the overall management of the FTMS and monitors its performance.- Authorized signatories, who are responsible for approving funds transfers within specified limits and in accordance with the company's financial authority matrix.- Finance and accounting personnel, who are responsible for initiating, processing, and reconciling funds transfers in compliance with the FTMS.- Internal auditors, who are responsible for conducting periodic reviews and assessments of the FTMS to ensure its integrity and effectiveness.- IT and security personnel, who are responsible for maintaining the integrity and security of the systems and networks used for funds transfers.6. ProceduresThe FTMS establishes a set of procedures governing the initiation, approval, processing, and reconciliation of funds transfers. These procedures include:- Clear guidelines for the initiation of funds transfers, including the documentation and authorization requirements.- Authorization levels and limits for different categories of funds transfers, based on the financial authority matrix.- Segregation of duties to ensure that no single individual has control over the entire funds transfer process.- Secure transmission and storage of payment instructions and other relevant documentation.- Reconciliation of funds transfer records with bank statements and other relevant accounts.7. ControlsThe FTMS incorporates a series of controls to mitigate the risk of fraud, error, and misuse of funds, including:- Dual controls for authorization and execution of funds transfers, requiring the involvement of at least two authorized signatories.- Use of secure and verified communication channels for transmitting payment instructions, such as encrypted emails or secure file transfer protocols.- Regular monitoring and reconciliation of funds transfer records to identify and rectify any discrepancies or anomalies.- Periodic reviews and audits of the FTMS to assess its effectiveness and compliance with internal policies and external regulations.8. ComplianceThe FTMS is designed to ensure compliance with all relevant laws, regulations, and internal policies governing the transfer of funds. It incorporates measures to prevent money laundering, fraud, and other illicit activities, in line with industry best practices and regulatory requirements.9. Reporting and MonitoringThe FTMS includes provisions for reporting and monitoring the performance and effectiveness of the funds transfer process. This includes the generation of regular reports on the volume, value, and nature of funds transfers, as well as the identification and resolution of any issues or discrepancies.10. Training and AwarenessThe FTMS includes provisions for training and awareness programs to ensure that all personnel involved in the funds transfer process are knowledgeable about their roles and responsibilities, as well as the policies and procedures governing funds transfers.11. ConclusionThe Funds Transfer Management System is a critical component of the organization's financial management framework. It provides the structure and discipline necessary to ensure the efficient, secure, and compliant transfer of funds, thereby safeguarding the company's assets and reputation. The effective implementation and enforcement of the FTMS are essential in mitigating the risk of financial loss and ensuring the integrity of the organization's financial operations.。
a r X i v :g r -q c /0408008v 2 22 N o v 2004Energy and entropy conservation for dynamical black holesSean A.HaywardDepartment of Physics,National Central University,Jhongli,Taoyuan 320,Taiwansean hayward@(Dated:revised 28th October 2004)The Ashtekar-Krishnan energy-balance law for dynamical horizons,expressing the increase inmass-energy of a general black hole in terms of the infalling matter and gravitational radiation,isexpressed in terms of general trapping horizons,allowing the inclusion of null (isolated)horizons aswell as spatial (dynamical)horizons.This first law of black-hole dynamics is given in differentialand integral forms,regular in the null limit.An effective gravitational-radiation energy tensor isobtained,providing measures of both ingoing and outgoing,transverse and longitudinal gravitationalradiation on and near a black hole.Corresponding energy-tensor forms of the first law involve apreferred time vector which plays the role for dynamical black holes which the stationary Killingvector plays for stationary black holes.Identifying an energy flux,vanishing if and only if the horizonis null,allows a division into energy-supply and work terms,as in the first law of thermodynamics.The energy supply can be expressed in terms of area increase and a newly defined surface gravity,yielding a Gibbs-like equation,with a similar form to the so-called first law for stationary blackholes.A Clausius-like relation suggests a definition of geometric entropy flux.Taking entropy asarea/4for dynamical black holes,it is shown that geometric entropy is conserved:the entropyof the black hole equals the geometric entropy supplied by the infalling matter and gravitationalradiation.The area or entropy of a dynamical horizon increases by the so-called second law,notbecause entropy is produced,but because black holes classically are perfect absorbers.PACS numbers:04.70.Bw,04.30.Db,04.70.DyI.INTRODUCTION Black holes are perhaps the most exotic and energetic objects in the universe.Their theoretical history is long and winding:the earliest such solution to the field equations of Einstein’s theory of General Relativity [1]was found by Schwarzschild [2]almost immediately,but not understood as such for decades [3].In a few years around 1970,there was rapid theoretical progress,with the introduction of the term black hole by Wheeler [4]and the development of the classical four laws of black-hole mechanics [5,6,7,8],supposedly analogous to the laws of thermodynamics.Since then,astrophysical evidence has increasingly accumulated not only for stellar-mass supernova-remnant black holes,but for supermassive black holes,mysteriously present at the heart of most if not all galaxies and powering active galactic nuclei [9].Cataclysmic events such as binary black-hole mergers are predicted to produce gravitational waves which are observable on or near our home planet,for which a new generation of detectors is being developed [10].Consequently,recent years have seen a great deal of work on numerical simulations to study how black holes evolve according to given initial conditions,and what gravitational radiation they may produce [11].Such progress leaves the textbook theory of black holes seriously out of date.Much is known about stationary black holes,for instance the zeroth and first laws just mentioned,but dynamical black holes are much more complex.Of the classical laws,only Hawking’s area theorem has generality,but it applies to event horizons,which are theoretical constructs which cannot be located by mortals.It is quite timely that Hawking has recently recanted,writing that “a true event horizon never forms,just an apparent horizon”[12].Unfortunately,Hawking’s definition of apparent horizon [6]is also not the most appropriate to define black holes,due to its global nature and slicing dependence;for instance,the Schwarzschild black hole may be globally sliced so that there is no apparent horizon [13].About ten years ago,the author began a program to understand local,dynamical properties of black holes [14,15].The basic idea is that black holes contain trapped surfaces,where both ingoing and outgoing light wavefronts are converging,and that one can locate the surface of the black hole by marginal surfaces ,where outgoing light rays are instantaneously parallel.A trapping horizon is a hypersurface foliated by marginal surfaces.Locally classifying trapping horizons as future or past,and outer or inner,it was proposed that a future outer trapping horizon char-acterizes non-degenerate black holes.Some general results were that:there are future trapped surfaces just inside such a horizon;the horizon is achronal,being null only in the locally stationary case and otherwise spatial,assuming the null energy condition;the marginal surfaces have spherical topology,assuming the dominant energy condition;and the area A of the horizon is non-decreasing,A ′≥0,and increasing if spatial.The last property is analogous to Hawking’s area theorem,but for a practically locatable horizon.Trapping horizons can be numerically located by so-called apparent-horizon finders [16,17],which actually find marginal surfaces;they do not check every surface inthe hypersurface to see whether it is outer trapped,as required by the definition of apparent horizon.Under smooth-ness assumptions[6,18],apparent horizons are marginal surfaces,but not vice versa.Incidentally,the resolution to the supposed black-hole-information paradox is simple,using versions of the above results for matter violating the null energy condition:as a black hole evaporates,the ingoing negative-energy Hawking radiation causes the trapping horizon to shrink and become temporal,so that information can cross it in both directions[19,20].There never was a paradox,just a fundamental misunderstanding,that black holes are usefully defined by event horizons.In terms of trapping horizons,a comprehensive picture of black-hole dynamics wasfirst developed in spherical symmetry.In this case,there are local definitions of active gravitational mass-energy E[21]and surface gravityκ[22]which have many physically expected properties.The gradient dE of energy,expressed in terms of the energy-momentum of the matter,divides naturally into an energy-supply term Aψand a work term wdV(V=4The classical second law,originally due to Clausius,who used it to define entropy,is˙S≥˙Q/ϑ.(3)These integral forms of the laws respectively require the pressure and temperature to be spatially constant.The entropy may be divided into entropy supply S◦,given by˙S=˙Q/ϑ(4)◦and entropy production S−S◦.Then the second law may be written as˙S≥˙S(5)◦which expresses entropy production.In words:S is the entropy of the system,where system means a comoving volume of material,and S◦is the entropy supplied to the system.Thus the second law implies that the total entropy of an isolated system,such as the whole universe,cannot decrease.Here it should be stressed that dynamical black holes are not isolated systems,since they absorb energy and entropy.Then the property that black holes have non-decreasing area,A′≥0,normally called the second law of black-hole mechanics,is actually not analogous to the second law of thermodynamics.Entropy production and entropy increase have entirely different meanings for non-isolated systems. Equality in the second law holds in thermostatics,traditionally called equilibrium thermodynamics or reversible thermodynamics.In the thermostatic case,thefirst and second laws for an inviscidfluid imply˙H=ϑ˙S−p˙V(6)which is the Gibbs equation,or rather its material or comoving form.Note that what is normally called thefirst law of black-hole mechanics for stationary black holes[5],involving area A=4S and surface gravityκ=2πϑ,is actually analogous to the Gibbs equation,rather than thefirst law of thermodynamics.The latter does not involve temperature or entropy,but simply expresses energy balance.Thermodynamics can be formulated as a localfield theory,with H and S replaced by thermal energy density and entropy density respectively,Q replaced by a thermalflux vector q such that˙Q=− ∗n·q(7) and S◦replaced by an entropyflux vectorϕ=q/ϑsuch that˙S=− ∗n·ϕ(8)◦where the integrals are over a surface bounding the system,with vector area element∗n.In terms of these and other fields,e.g.density,velocity and stress for afluid,thefirst and second laws and the Gibbs equation can be localized [42,43,44,45].These three localized equations or inequalities can then be used to derive dissipative relations,in the simplest case the Fourier equation for q and the Newtonian-fluid equation for the viscous stress,leading to the Navier-Stokes equation.Thus it should be stressed that thefirst law and comoving Gibbs equation are still assumed fundamentally and fruitfully in true(non-equilibrium)thermodynamics as well as in thermostatics.Widespread folklore to the contrary is sometimes used to argue that the so-calledfirst law of black-hole mechanics,obtained as a property of stationary black holes,should not be expected to generalize to dynamical black holes.Again,this does not constitute a correct analogy with true thermodynamics.III.DUAL-NULL DYNAMICSTrapping horizons are generally defined as hypersurfaces which may have any causal nature,foliated by marginal surfaces.To study them,it is useful to employ the formalism of dual-null dynamics[46,47],describing two families of null hypersurfaces,intersecting in a two-parameter family of transverse spatial surfaces,as summarized in this section.There are various reasons:marginal surfaces are defined as extremal surfaces of null hypersurfaces;a spatial trapping horizon locally determines a unique dual-null foliation,generated from the marginal surfaces in the null normal directions;and the null limit,where a dynamical horizon reduces to an isolated horizon,is naturally included in the formalism,whereas more conventional treatments of spatial hypersurfaces become degenerate in the null limit, basically because normal vectors become tangent.For a null trapping horizon,the dual-null foliation is not unique, so subtleties remain in describing partial spatial,partially null trapping horizons.Denoting the space-time metric by g and labelling the null hypersurfaces by coordinates x±which increase to the future,the normal1-formsn±=−dx±(9)therefore satisfyg−1(n±,n±)=0.(10)The relative normalization of the null normals may be encoded in a function f defined bye f=−g−1(n+,n−)(11)where the metric sign convention is that spatial metrics are positive definite.Some readers may prefer to write g+−=g−1(n+,n−)for more manifest invariance and remember that g+−<0.The induced metric on the transverse surfaces,the spatial surfaces of intersection,is found to beh=g+2e−f n+⊗n−(12) where⊗denotes the symmetric tensor product.The dynamics are generated by two commuting evolution vectors u±:[u+,u−]=0(13)where the brackets denote the Lie bracket or commutator.Thus there is an integrable evolution space spanned by (u+,u−).There are two shift vectorss±=⊥u±(14)where⊥indicates projection by h.The null normal vectorsl±=u±−s±=e−f g−1(n∓)(15) are future-null and satisfyg(l±,l±)=0(16)g(l+,l−)=−e−f(17)l±·dx±=1(18)l±·dx∓=0(19)⊥l±=0(20) where a dot denotes symmetric contraction.In a coordinate basis(u+,u−,e a)such that u±=∂/∂x±,where e a=∂/∂x a is a basis for the transverse surfaces,the metric takes the formg=h ab(dx a+s a+dx++s a−dx−)⊗(dx b+s b+dx++s b−dx−)−2e−f dx+⊗dx−.(21) Then(h,f,s±)are configurationfields and the independent momentumfields are found to be linear combinations of the following transverse tensors:θ±=∗L±∗1(22)σ±=⊥L±h−θ±h(23)ν±=L±f(24)ω=1FIG.1:A dual-null foliation:the commuting evolution vectors u±=∂/∂x±generate the transverse surfaces S,while theirnull normal projections l±generally do not commute.where∇and D are the covariant derivatives of g and h respectively,and∇∧n±=0has been used.Here(±) indicates a label,not an index;ζ(±)are two generally distinct transverse1-forms.One can compose them as a2-form βin the normal space,defined byβ(µ,ν)=⊥((µ♯·∇)ν)for normal1-forms(µ,ν),with componentsβ±∓=e fζ(∓),β±±=0,but such notation becomes cumbersome.Likewise,one can compose the expansions and shears into a secondfundamental form,but it is more convenient to separate them.One subtle point concerns the evolution vectors u±versus the the null normal vectors l±,differing by the shiftvectors s±.In a numerical evolution,one would be evolving using thefield equations with⊥L uderivatives on the±left-hand side,since such Lie propagation of a point takes it to other points with the same angular coordinates.Inparticular,evolving along u+then u−takes one to the same point as evolving along u−then u+,since they commute, as depicted in Fig.1.However,l±generally do not commute(as measured byω),so that evolving along l+then l−takes one to a generally different point,though in the same transverse surface,as evolving along l−then l+.On the other hand,for analytical purposes it is easier to use l±than u±,writing thefield equations with⊥L±derivatives on the left-hand side.The same issue exists in the3+1formalism,where the evolution vector differs by the lapse function and shift vector from the unit normal vector.Another subtle point is that l±are not general tetrad vectors, since they are defined in terms of n∓,which must be closed.In particular,this means that f cannot befixed to zero for a general dual-null foliation.Another way to see this is that its derivatives L±L∓f are determined by the Einstein system in terms of the free initial data[47],even in spherical symmetry.The dual-null Hamilton equations and integrability conditions for vacuum Einstein gravity were derived previously[47],with matter terms added subsequently[27].Denoting projections of the energy tensor T by T±±=T(l±,l±) and T+−=T(l+,l−),the relevant components of thefield equations are justL±θ±=−ν±θ±−θ2±/2−||σ±||2/4−8πT±±(27)L∓θ±=−θ+θ−−e−f ℜ/2−|ζ(±)|2+D·ζ♯(±) +8πT+−(28)whereℜis the Ricci scalar of h(conventionally positive for spheres),a sharp(♯)denotes the contravariant dual with respect to h−1=h♯(index raising),|ζ|2=ζ·ζ♯and||σ||2=σ:σ♯,where the colon denotes double symmetric contraction.Units are such that Newton’s gravitational constant is unity.Thefirst equation is the well-known null focusing equation and the second has been called the cross-focusing equation[14,15].The null energy condition impliesT±±≥0(29) and the dominant energy condition additionally impliesT+−≥0.(30)IV.TRAPPING HORIZONSThe dual-null formalism may be applied to one-parameter families of transverse surfaces generated by a vectorξ=ξ+l ++ξ−l −Dξ±=0.(31)This means that ξ=∂/∂x is normal to the constant-x transverse surfaces,so that ξ±can be taken outside transversesurface integrals .The area of the transverse surfaces isA = ∗1(32)and the area radiusR =16π∗ ℜ+e f θ+θ− (34)will be used as a measure of the active gravitational mass-energy on a transverse surface.On a stationary black-hole horizon,it is also known as the irreducible mass:the mass which must remain even if rotational or electrical energy is extracted.Consider a trapping horizon generated by a vector ξ=∂/∂x ,so that the constant-x surfaces are marginal surfaces,where one of the null expansions θ±vanishes.This leaves the freedom to relabel the marginal surfaces,x →ˆx (x ),under which all the key equations will be manifestly invariant.Equations holding on a trapping horizon will be denoted by the weak equality symbol ∼=.Initially,the case θ+∼=0will be considered in detail,with the case θ−∼=0included subsequently.The fundamental equation describing the evolution of a trapping horizon is0∼=L ξθ+=ξ+L +θ++ξ−L −θ+(35)where L ξdenotes the Lie derivative along ξ.This will be used together with the Einstein equation to derive the first law for any trapping horizon.Even without the Einstein equation,one can use it to deduce relationships between the signs of ξ±and L ±θ+,which determine the causal nature of the trapping horizon and whether its area increases or decreases,viaL ξA = ∗(ξ+θ++ξ−θ−).(36)For clarity,all such inequalities are collected in the next section,so that the remainder of the article applies to any trapping horizon.V.AREA AND SIGNATURE LA WSTrapping horizons were previously classified[14]into one of four non-degenerate types:future (respectively past)if θ−<0(respectively θ−>0)and outer (respectively inner)if L −θ+<0(respectively L −θ+>0)on the trapping horizon θ+∼=0.For each type,there are trapped surfaces (θ+θ−>0)to one side of the horizon and untrapped surfaces (θ+θ−<0)to the other side,which is not guaranteed if the inequalities are relaxed even to non-strict inequalities.The causal type of the horizon is determined pointwise by the relative signs of ξ±:spatial if they have opposite signs,null if one vanishes and the other does not,and temporal if they have the same (non-zero)sign.Since the null energy condition (29)and focusing equation (27)imply L +θ+≤0on the trapping horizon,it follows from the fundamental equation (35)that outer trapping horizons are achronal (spatial or null),while inner trapping horizons are causal (temporal or null);the signature law [14].Furthermore,fixing the orientation of ξby ξ+>0,it follows from (36)that the area of a future outer or past inner trapping horizon is non-decreasing,L ξA ≥0,while the area of a past outer or future inner trapping horizon is non-increasing,L ξA ≤0;the area law [14].As corollaries,the horizon is null and has instantaneously constant area if and only if the ingoing energy density T +++Θ++vanishes,where Θ++=||σ+||2/32π(68)can be understood subsequently as the effective energy density of ingoing gravitational radiation.As mentioned in the Introduction,non-degenerate black holes may be characterized by future outer trapping horizons.Ashtekar &Krishnan instead defined dynamical horizons as spatial future trapping horizons.Then θ−<0on the horizon andξ±have opposite signs.Choosing the orientation of l±such that l+is outward and l−inward,ξ+>0,ξ−<0and it follows directly from(36)that the area is increasing,LξA>0,a strict version of the above area law.Actually,for black holes,one is normally interested in future trapping horizons which are either spatial(dynamical)or future-null(isolated),or partially spatial and partially null.In such casesξ+>0andξ−≤0,which immediately gives the non-strict area law LξA≥0.Note also from the fundamental equation(35)that a dynamicalhorizon satisfies L−θ+≤0under the null energy condition,so it is either a future outer trapping horizon or degenerate. The degenerate cases allow dynamical horizons in space-times without trapped surfaces[49],reflecting the need for something like the outer condition to characterize a black hole.In practice,the outer horizon of a black hole is likely to satisfy both definitions,except when it becomes stationary or instantaneously stationary.An evaporating black hole may also be described using trapping horizons.The only difference with the above discussion is that the null energy condition is violated by Hawking radiation,for which the ingoing radiation has negative energy density,T++<0.Assuming that this dominates the positive energy density of ingoing gravitational radiation,T+++Θ++<0,the focusing equation(27)implies L+θ+>0on the trapping horizon.For an outer horizon,the fundamental equation(35)implies thatξ±have the same sign,so that the horizon is temporal,while (36)shows that the area is decreasing for a future horizon,LξA<0.Thus the black-hole horizon is shrinking and two-way traversable.Clearly matter can escape from an evaporating black hole.The strange belief that information cannot escape from an evaporating black hole seems to be based on the impractical event-horizon definition of black hole as a region of no escape.VI.FIRST LA W:ENERGY FLUX AND WORKHenceforth completely general trapping horizons will be considered,so that all the following displayed equations will apply not only to outer black-hole horizons under the usual energy conditions,but to inner black-hole horizons,white holes,cosmological horizons,wormhole mouths and evaporating black holes.Expanding the fundamental relation (35)using the focusing equations(27–28)yields0∼=Lξθ+∼=−ξ+ 8πT+++||σ+||2/4 +ξ− 8πT+−−e−f ℜ/2−|ζ|2+D·ζ♯ (37) whereζ=ζ(+)temporarily simplifies the notation.Multiplying by e f/8πand integrating over the transverse surfaces, using the Gauss-Bonnet theorem ∗ℜ=8π,the Gauss divergence theorem ∗D·α=0and rearranging yieldsξ+ ∗e f T+++||σ+||28π ∼=−ξ−/2.(38)Sinceξ−=0in the null case,this shows that both T++andσ+must vanish on a null horizon[14],assuming the null energy condition.Here spherical topology has been assumed;otherwise,for compact orientable transverse surfaces, the right-hand side of(38)is multiplied by1−γ,whereγis the genus or number of handles.Then the dominant energy condition impliesγ≤1,leading to the topology law[14]:the transverse surfaces are either spherical or toroidal,the latter case requiring very special conditions(including vanishing Gaussian curvature)and anyway being excluded for (non-degenerate)outer trapping horizons,L−θ+<0.The Hawking mass-energy(34)satisfiesE∼=R/2(39) on a trapping horizon,which can be regarded as a generalization of irreducible mass from stationary to non-stationary black holes,since the area law ensures its irreducibility under the null energy condition.Then the identity(38)yields LξE∼=LξRξ− ∗e f T+++||σ+||28π LξR.(40) This is a dual-null differential version of the energy-balance law found by Ashtekar&Krishnan[29,30],as compared more explicitly in the next section.One mayfix the normalization f∼=0and,for a spatial horizon,one mayfix the scaling of the null normals such thatξ+/ξ−∼=−1and the generating vectorξsuch that LξR∼=1.In the following, all gauge freedom will be retained for generality,but readers may wish on afirst reading to mentally set f∼=0and, if interested only in spatial trapping horizons,ξ+/ξ−∼=−1.The four terms are all geometrical invariants of the dual-null foliation,as shown explicitly below,and therefore of the horizon(as an embedded hypersurface)unless it becomes null.Since the formalism is manifestly covariant on the transverse surfaces,checking invariance reduces to writing e f=−g+−and matching±indices.The four terms in parentheses in(40)are all manifestly positive,assuming the dominant energy condition.The T++ term gives the energyflux of the matter propagating in the null direction into the horizon.Consequently it is natural to interpret theσ+shear term as giving the energyflux of the transverse gravitational radiation propagating in the null direction into the horizon.This term has the same form as that of the Bondiflux of gravitational radiation at null infinity[50,51],the same form as a localized energyflux of gravitational radiation in a quasi-spherical approximation [27],and a similar form to the energyflux of linearized gravitational radiation in the high-frequency approximation [7],so its physical interpretation seems sound.The T+−term gives a matter energy density,so theζterm can be interpreted as giving a corresponding gravitational energy density.Ashtekar&Krishnan interpreted it as also due to gravitational radiation,and here it will be interpreted as an energy density of longitudinal gravitational radiation. This is much less familiar than transverse gravitational radiation and is absent in all the above approximations,but the interpretation can be understood in a spin-coefficient formulation,to be presented elsewhere[52].It should be mentioned that there is a widespread belief that longitudinal gravitational radiation does not exist in Einstein gravity, apparently due to an argument in linearized theory that the longitudinal modes are purely gauge-dependent,and the fact that only the transverse mode contributes to the Bondiflux.On thefirst point,Szekeres characterized ingoing and outgoing,transverse and longitudinal gravitational radiation by their effect via the geodesic equation on a“gravitational compass”of test particles[53,54].On the second point,it can be shown that the energy densities of the outgoing transverse and longitudinal modes fall offnear future null infinity as1/R2and1/R4respectively[51,52]. The expression(40)separates thefirst term in parentheses,which vanishes for null horizons(assuming the null energy condition),from the second term in parentheses,which is generally non-zero for horizons of any causal nature. This separation need not appear for spatial trapping horizons,but it will be stressed in the following,since the null case is a physically important limit,where dynamical horizons reduce to isolated horizons,or more prosaically,where a growing black hole ceases to grow.The next task is to write the new law in a more manifestly invariant form.The spherically symmetric case is a useful guide;there the unifiedfirst law was found as dE=Aψ+wAdR for certain invariantsψand w of the matter energy tensor[22].The corresponding formulae readw m=−trace T/2(41)ψm=T·(dR)♯+w m dR(42) where the trace is in the normal space and the subscript m is introduced to refer to the matter.In the current generalized context,these quantities are invariants of the dual-null foliation.Explicitly,w m=e f T+−(43)(ψm)±=−e f T±±L∓R(44) whereψ=ψ+dx++ψ−dx−.Comparing with thefirst law(40),one can define corresponding quantities for the gravitational radiation byw g=|ζ|2.(46)32πAs in the spherically symmetric case[22],one may callw=w m+w g(47) the work density andψ=ψm+ψg(48) the energyflux1-form.On a trapping horizon withθ+∼=0,it follows that L+R∼=0,ψ−∼=0,ξ·ψ∼=ξ+ψ+and LξR∼=ξ−L−R,yieldingLξR.(49)ξ·ψ∼=−ξ+32πThus thefirst law(40)becomesLξE∼= ∗ξ·ψ+ ∗wLξR.(50)This is the first law of black-hole dynamics ,in the desired geometrically invariant form.(The Lie derivative L ξacting on integral scalars like E and R is just the partial derivative ∂/∂x ).The energy flux ξ·ψvanishes if the horizon is null,while the work density w is generally non-zero for horizons of any causal nature.The two terms ∗ξ·ψand ∗wLξR may be called respectively the energy-supply and work terms,by analogy with the first law of thermodynamics (1).The above derivation of the first law applied to a trapping horizon with θ+∼=0.For a trapping horizon with θ−∼=0,one obtains the same formula with a different w .For completeness one can definew (±)=e f T +−+|ζ(±)|2L ξR +w (53)is the combined energy density ,where the division into energy-supply and work terms can be ignored in this section.It can be independently divided into matter and gravitational-radiation terms,ǫ=ǫm +ǫg ,in the obvious way,yielding the explicit expressionsǫm ∼=e f T +−−ξ±32π4|ζ(±)|2−e f ξ±g xx ∧dx(57)where s is arc length along the horizon-generating vector ξ=∂/∂x and√g (ξ,ξ)=∂s/∂x(58)is the corresponding scale factor,then the integral first law can be written as[E ]∼= ˜∗˜ǫ(59)where˜ǫ=ǫL ηR =η·ψ+wL ηR (60)is the proper energy density andη=ξ/√2l ±,but it is now straightforward to check theirexpressions against the explicit expressions (54–55),which reduce to ǫm ∼=T +++T +−and ǫg ∼=(||σ+||2+4|ζ(+)|2)/32πfor θ+∼=0,with ˜ǫreducing to ǫ/√g xx here,their coordinate r is x here,their σis σ+/√2/g xx ,rescaling the outward null normal l +ratherthan the horizon-generating vector ξ(to η=ξ/√2/g xx ,ˆτ)in their gauge choice,where ˆτis the unit normal vector to a spatial trapping horizon.However,unit ˆτdoes not exist for null trapping horizons.Nevertheless a natural normal does exist for any trapping horizon,namely the vector τdual to the generating vector ξin the normal space:τ=ˆ∗ξ(63)where ˆ∗is the vectorial Hodge operator of the normal space,with orientation chosen so that τ=ξ+l +−ξ−l −,meaning that τis future-pointing for outward-pointing ξ.Then τis normal to the horizon,g (ξ,τ)=0,⊥τ=0,has equal and opposite normalization g (τ,τ)=−g (ξ,ξ)and is regular in the null limit,becoming null itself,τ→ξ.In spherical symmetry,the Kodama vector χprovides a preferred flow of time,reducing to the stationary Killing vector for Schwarzschild and Reissner-Nordstr¨o m black holes.It has a dual relation to the energy E which can be written as L ξE =AT (χ,τ),for any normal vector ξand its orthogonal dual τ.This vector can be generalized byχ=ˆ∗(dR )♯(64)or the curl of R in the normal space,with components χ=e f (L +R l −−L −R l +).Then χis orthogonal to R and the transverse surfaces,χ·dR =0,⊥χ=0,has normalization g (χ,χ)=−g −1(dR,dR )and becomes null on a trapping horizon,g (χ,χ)∼=0,with χ∼=±(dR )♯for θ±∼=0.Flow lines of χand (dR )♯are sketched in Fig.2for typical gravitational collapse to a black hole,assuming cosmic censorship;for a comprehensively analyzed case,see Christodoulou [55]for the massless Klein-Gordon field in spherical symmetry.For a future outer trapping horizon[14],the area-radius vector (dR )♯is spatial and χis temporal just outside the horizon,and (dR )♯is temporal and χspatial just inside the horizon.In terms of these vectors,there is a remarkably simple and manifestly invariant expression for the matter energy density:ǫm L ξR =T (χ,τ).(65)This holds for any foliation of spatial surfaces in any space-time,generated by a normal vector ξwith orthogonal dual τ,without any gauge conditions.Then the integrated matter flux is[E ]m ∼= ∗T (χ,τ)∧dx.(66)。
法律英语第一课翻译引言法律英语是指在法律领域使用的英语专业术语和表达方式。
随着全球化的推进,法律界对于英语专业人士的需求逐渐增加。
本文将介绍法律英语的基本概念和常用词汇,帮助读者理解和翻译法律文件。
法律英语的基本概念法律英语是法律体系中的一项重要内容,包括法律文件的起草、翻译和解释等。
在法律英语中,准确性和专业性是非常重要的原则。
法律文件的翻译需要注意保持原文意思的准确性,并确保译文符合法律的规定。
常见法律英语词汇下面列举了一些常见的法律英语词汇及其翻译:w - 法律2.Legal - 法律的3.Contract - 合同4.Agreement - 协议5.Plaintiff - 原告6.Defendant - 被告7.Judgment - 判决8.Court - 法院9.Evidence - 证据10.Witness - 证人这些词汇是法律文件中经常出现的,熟悉这些词汇对于正确理解和翻译法律文件至关重要。
法律英语的翻译技巧在翻译法律文件时,以下几点技巧可以帮助提高翻译质量:1.精确无误的翻译法律文件非常重要。
一些术语的错误翻译可能导致法律文件的失效,因此需要对法律术语进行深入理解并保持准确性。
2.翻译法律文件时要注重上下文的理解。
有时直译法律术语可能不合适,需要根据文件的整体内容进行适当的调整和解释。
3.参考专业的法律词典和资料是翻译法律文件的重要工具。
法律词典能够提供准确的翻译和解释,确保翻译的准确性。
4.在翻译过程中,要注意语言的简明扼要。
法律文件通常需要清晰、简洁的表达,避免使用过于复杂或晦涩的词汇。
结论法律英语作为一门专业领域,对于法律文件的翻译具有重要意义。
准确、专业的翻译能够保证法律文件的有效性,并为法律实践提供帮助。
本文介绍了法律英语的基本概念、常见词汇和翻译技巧,希望对读者理解和翻译法律文件有所帮助。
参考文献 - Smith, J. (2010). Legal English: How to Understand and Master the Language of Law. Routledge.。
热钱流动法律规导机制的构建
(一)热钱流入的渠道
有人说,国际热钱进入中国的渠道包括:经常项目中的贸易收支和居民个人的外汇收入、外国直接投资(FDI)、股票、商品房、QFII等等,似乎一切对外地经济交往都成了热钱进入的渠道。
事实上,进入我国境内的热钱主要有两个途径:一是通过经常项目流入的,二是通过资本项目进入的。
1. 经常项目流入。
包括(1)通过“低报进口价格、高报出口价格”的方式,少付汇多收汇,变相实现了境外资金的流入。
(2)通过“预收货款、延付货款”的方式,企业出于融资成本的考虑,在出口时最大限度地利用预收货款,在进口时使用延付货款,以争取享受利率和汇率的双重好处。
国际热钱正是钻了这样的空子,从而更多地进入我国或滞留我国境内,投机套利。
1(3)通过转移支付的方式,不论是境外公司向境内关联公司,还是境内公司向境外关联公司,将热钱通过支付内部收益等方法输入我国境内。
(4)个人项目流入,包括个人贸易项目进行资金转入,以及个人贸易佣金形式流入。
个人贸易活动分散、收汇金额小,其国际收支申报的真实性难以鉴别;个人通过贸易中介获得的合法收入,外汇管理机构管理难度较大。
2. 资本项目流入。
包括(1)利用地方政府招商引资政策虚假投资,使得无实体产业投资需求的资本投入房地产、有价证券等领域;(2)国内投资者通过在国外设立特殊目的公司,在境外通过银行借款、出让公司股份、发行可转换债券等方式募集资金,进行返程投资;(3)一些国际金融机构、跨国公司通过从内部调拨资金或是短期国际借贷的方式,将国外转入的资金投入到高利润行业。
2此外,还有“地下钱庄”,在资本外逃时充当洗钱的工具。
(二)热钱流入、流出给我国经济带来的风险
1.热钱流入对我国经济具有多方面的影响表现在:(1)过度拉高房价,增加房市泡沫。
即便发达国家的房地产市场十分繁荣,但也要对针对房地产市场的投机行为进行严格限制。
而中国则对境外的机构、个人投资开发和销售房地产没有
1黄强:“国际热钱流入对我国经济的影响及监管建议”,云南财经大学硕士论文,2008年11月,第19页。
2荣毅宏:“国际‘热钱’输入渠道、规模及监管对策”,载《金融教学与研究》,2008年第1期。
重大限制,举世罕见。
由于房地产行业对外资来说准入门槛很低,故“热钱”便不断流入进行炒作。
我国楼市价格的不断上涨吸引着境外“热钱”不断流入,反过来又加速了我国房价的上涨。
境外“热钱”的流入推高了我国房价,还产生了财富效应,使得金融资产持有人的财富与房地产价格同步升降,进而刺激或抑制消费。
境外热钱在中国购房完全是为了套利,并不真正去住,又会造成房价日益脱离真实需求,产生泡沫。
(2)拉高股票价格指数,冲击证券市场。
证券市场的开放为“热钱”的流动提供了便利条件,使其急剧膨胀。
“热钱”由于流动速度快、规模大、易于逆转,对证券市场造成了极大的冲击。
新兴市场经济体爆发的几次大的金融危机,如1994 年的墨西哥金融危机、1997 年的东南亚金融危机,无一不是由大量的“热钱”外逃引起的。
(3)加剧通货膨胀。
通货膨胀的成因,除了本国货币超发这一众所周知的原因外,还有就是热钱流入的推动。
因为从各种渠道流入我国商品市场的热钱,会不断炒作某些商品,推升其价格,出现前几年出现的“蒜你狠”、“豆你玩”、“姜你军”之类的事情,诱发商品市场的泡沫,加剧我国国内的通货膨胀;(4) 热钱的不断涌入也增加了人民币升值的压力,为了避免人民币升值过快以维护国际收支平衡,央行不得不增发人民币,并通过市场手段大量回购市场上多余的外汇,而人民币供应量的增加现象又以货币乘数的效应继续扩大,最终使得流通中的货币过量,从而推动通货膨胀的形成。
译文
ESTABLISHMENT OF LEGAL REGULATION REGIME ON HOT MONEY MOVEMENTS
Ⅰ. Channels of hot money inflows
It is said that such as trade balance and personal foreign exchange income of citizens in the current account, foreign direct investment (FDI), stock, commercial house and QFII could be considered channels by which international hot money flow into China. It seems that all foreign economic exchanges have become vehicles of hot money inflows. As a matter of fact, there are two main channels which hot money flow into our country, namely, one is through the current account and the other is via capital account.
1.Inflows through current account. In this context, it can be (1) by "declaring lower。