潘功胜:中国不会回资本管制的老路

 　　China’s top foreign exchange regulator says the country will not follow the “old road of capital controls”, as the government seeks to reassure¹ investors² that their money will not be trapped in China following recent measures to restrict capital outflows.

　　中国最高外汇监管官员表示，中国不会重回“资本管制的老路”。此时，中国政府正想方设法让投资者放心，在近来的限制资本流出的措施之后，他们的资金将不会被困在中国。

　　A flurry of moves to keep money onshore has sparked concern that China is backtracking on promises to liberalise cross-border investment and internationalise its currency. The measures include tighter approval procedures for foreign acquisitions by Chinese companies and higher hurdles³ for forex purchases by individuals.

　　一连串旨在把资金留在境内的举措导致人们担忧，中国可能正在走回头路，不再履行放开跨境投资和推进人民币国际化的承诺。

　　In a rare media interview, Pan Gongsheng, head of the State Administration of Foreign Exchange and deputy governor of the People’s Bank of China, described the recent tightening⁴ primarily as an effort to close loopholes and improve enforcement of existing rules and root out fraud, not to abandon the general trend towards greater openness.

　　在一次不多见的媒体采访中，中国央行副行长、外管局局长潘功胜称，近来的收紧措施主要是为了封堵漏洞、完善现有规则执行和根除欺诈，而不是放弃扩大开放的大趋势。

　　“We persist in one principle: the window we have opened will not be closed again. Foreign exchange management policy will not retreat backwards⁵, let alone will we return to the old road of capital controls,” Mr Pan told China Business News. Neither Mr Pan nor his predecessor⁶ at Safe has ever granted an interview to foreign media while serving in the position.

　　“我们坚持一个原则：打开的窗户不会再关上。外汇管理政策不会后退，更不会走回资本管制的老路，”潘功胜对《第一财经》表示。无论是潘功胜还是外管局的前局长，在任期间都没有接受过外国媒体的采访。

　　Mr Pan said that recent measures to restrict capital outflows are primarily targeting suspicious or fraudulent transactions, as well as currency speculation⁷. The “going out” policy of encouraging outbound investment by Chinese companies is crucial to fulfilling President Xi Jinping’s “One Belt One Road” policy, which calls for Chinese groups to fund infrastructure⁸ investment in Central Asia and the Middle East.

　　潘功胜表示，近期限制资本流出的措施，主要是为了打击可疑或欺诈交易，以及汇率投机。鼓励中国企业对外投资的“走出去”政策，对于实现中国国家主席的“一带一路”战略是至关重要的。该战略要求中国企业出资支持中亚和中东的基础设施建设。

　　On the other hand, he said that the abrupt⁹ surge of Chinese outbound deals raised questions, citing commerce ministry¹⁰ figures showing a 44 per cent rise in outbound foreign direct investment in 2016.

　　另一方面，他表示，2016年来对外直接投资规模增长迅速，可能会带来不少潜在问题。他提到，2016年中国对外直接投资增长了44%。

　　“If outbound FDI shows an extraordinary change within a relatively¹¹ short period, this needs to spark our close attention,” he said. “Some enterprises’ outbound FDI is carried out with a strong element of blindness.”

　　“如果对外直接投资在比较短的时间内出现了异常变化，则需要引起我们的重视，”他说，“一些企业对外直接投资带有很强的盲目性。”

　　Mr Pan said the government was especially suspicious about investments outside an investor’s core business and those where the investment target was much larger than its acquirer. He cited the example of Japan, where investors bought a series of US trophy¹² assets in the 1980s. This buying spree preceded an economic crash and two decades of stagnation¹³.

　　潘功胜表示，中国政府尤其对大额非主业投资和“母小子大”的投资感到怀疑。他举了日本的例子。在1980年代，日本企业曾横扫美国的炫耀性资产。在并购狂欢之后，日本发生了经济崩盘，经历了长达20年的滞涨。

1 reassure   

v.使放心，使消除疑虑

参考例句：

• This seemed to reassure him and he continued more confidently.这似乎使他放心一点，于是他更有信心地继续说了下去。
• The airline tried to reassure the customers that the planes were safe.航空公司尽力让乘客相信飞机是安全的。

2 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

3 hurdles   

n.障碍( hurdle的名词复数 )；跳栏；（供人或马跳跃的）栏架；跨栏赛

参考例句：

• In starting a new company, many hurdles must be crossed. 刚开办一个公司时，必须克服许多障碍。 来自《简明英汉词典》
• There are several hurdles to be got over in this project. 在这项工程中有一些困难要克服。 来自辞典例句

4 tightening   

上紧，固定，紧密

参考例句：

• Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
• It needs tightening up a little. 它还需要再收紧些。

5 backwards   

adv.往回地，向原处，倒，相反，前后倒置地

参考例句：

• He turned on the light and began to pace backwards and forwards.他打开电灯并开始走来走去。
• All the girls fell over backwards to get the party ready.姑娘们迫不及待地为聚会做准备。

6 predecessor   

n.前辈，前任

参考例句：

• It will share the fate of its predecessor.它将遭受与前者同样的命运。
• The new ambassador is more mature than his predecessor.新大使比他的前任更成熟一些。

7 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

8 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

9 abrupt   

adj.突然的，意外的；唐突的，鲁莽的

参考例句：

• The river takes an abrupt bend to the west.这河突然向西转弯。
• His abrupt reply hurt our feelings.他粗鲁的回答伤了我们的感情。

10 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

11 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

12 trophy   

n.优胜旗，奖品，奖杯，战胜品，纪念品

参考例句：

• The cup is a cherished trophy of the company.那只奖杯是该公司很珍惜的奖品。
• He hung the lion's head as a trophy.他把那狮子头挂起来作为狩猎纪念品。

13 stagnation   

n. 停滞

参考例句：

• Poor economic policies led to a long period of stagnation and decline. 糟糕的经济政策道致了长时间的经济萧条和下滑。
• Motion is absolute while stagnation is relative. 运动是绝对的，而静止是相对的。