Z

再贷款 central bank lending

在国际金融机构储备头寸 reserve position in international financial institutions

在人行存款 deposits at （with） the central bank

在途资金 fund in float

增加农业投入 to increase investment in agriculture

增势减缓 deceleration of growth;moderation of growthmomentum

增收节支措施 revenue-enhancing and expenditure control measures

增长平稳 steady growth

增值税 value-added tax（VAT）

涨幅偏高 higher-than-desirable growth rate;excessive growth

账外账 concealed accounts

折旧 depreciation

整顿 retrenchment;consolidation

政策工具 policy instrument

政策性业务 policy-related operations

政策性银行 policy banks

政策组合 policy mix

政府干预 government intervention

证券交易清算 settlement of securities transactions

证券业务占款 funding of securities purchase

支付困难 payment difficulty

支付能力 payment capacity

直接调控方式向 to increase the reliance on indirect policy instruments

间接调控方式转变职能转换 transformation of functions

职业道德 professional ethics

指令性措施 mandatory measures

指令性计划 mandatory plan;administered plan

制定和实施货币政策 to conduct monetary policy;to formulate and implement monetary policy

滞后影响 lagged effect

中介机构 intermediaries

中央与地方财政 delineation of fiscal responsibilities

分灶吃饭重点建设 key construction projects;key investment project

周期谷底 bottom（trough）of business cycle

周转速度 velocity

主办银行 main bank

主权风险 sovereign risk

注册资本 registered capital

逐步到位 to phase in;phased implementation

逐步取消 to phase out

抓大放小 to seize the big and free the small（to maintain close oversight on the large state-ownedenterprises and subject smaller ones to market competition）

专款专用 use of funds as ear-marked

转贷 on-lending

转轨经济 transition economy

转机 turnaround

转折关头 turning point

准财政赤字 quasi-fiscal deficit

准货币 quasi-money

资本不足 under-capitalized

资本充足率 capital adequacy ratio

资本利润率 return on capital

资本账户可兑换 capital account convertibility

资不抵债 insolvent;insolvency

资产负债表 balance sheet

资产负债率 liability/asset ratio;ratio of liabilities to assets

资产集中 asset concentration

资产贡献率 asset contribution factor

资产利润率 return on assets （ROA）

资产质量 asset quality

资产组合 asset portfolio

资金成本 cost of funding;cost of capital;financing cost

资金到位 fully funded （project）

资金宽裕 to have sufficient funds

资金利用率 fund utilization rate

资金缺口 financing gap

资金体外循环 financial disintermediation

资金占压 funds tied up

自筹投资项目 self-financed projects

自有资金 equity fund

综合国力 overall national strength（often measured by GDP）

综合效益指标 overall efficiency indicator

综合治理 comprehensive adjustment（retrenchment）;over-haul

总成交额 total contract value

总交易量 total amount of transactions

总成本 total cost

最后贷款人 lender of last resort