Some of these cookies are essential to the operation of the site,
while others help to improve your experience by providing insights into how the site is being used.
English to Chinese: shadow banking in China General field: Bus/Financial Detailed field: Finance (general)
Source text - English Globally, trusts are legal entities for custody and fiduciary duties, often for regulatory or tax arbitrage. For example, private banking uses trusts to help clients manage their property inheritance and charitable purposes. In China, however, trust companies have a special financial license that enables them to engage in the businesses that the traditional banking sector and capital market cannot fulfill, for example, private equity and asset securitization business in the name of financial intermediation.
The trust company license allows them to participate in money market businesses, capital market businesses, and alternative investments. Thus, trust companies can help other financial institutions, including commercial banks, to do businesses that they are not allowed to do by themselves. Trust companies can lend to restricted or high-risk industries (e.g. real estate, LGFP). Because they act only in trust for their principals, there may be less due diligence on credit assets (trust lending) than bank lending, or capital market financing.
The trust company sector blossomed when the authorities imposed loan quotas on banks, prompting banks to restrict lending to property developers and local governments. Those that lost access to bank loans turned to trust companies for creative financing sources. Since 2010, AUM of trust companies more than tripled, when the central bank tightened credit supply. They reached RMB 14.0 trillion at the end of 2014 (Figure 4.4); and had overtaken the insurance sector (with AUM of RMB 10.2 trillion) to become the second largest financial sector in China (after commercial banks).
Translation - Chinese 全球范围而言，信托是承担监护和信托责任的法律实体，通常以监管或税收套利为目的。例如，私有银行利用信托帮助客户管理财产继承或慈善活动。然而中国的信托公司具备特殊的金融许可，它们能够参与传统银行部门和资本市场无法满足的业务，比如以金融中介的名义开展私募股权和资产证券化业务。
Chinese to English: Evaluation Report on Social Poverty Amelioration Service Project in China (Abstract) General field: Social Sciences Detailed field: Government / Politics
Source text - Chinese 贫困是财物极为缺乏的艰难窘迫境况。资本形成不充分是产生贫困和恶性循环的关键因素。从供给方面看，人均收入普遍过低，人们绝大部分的收入用于生活消费支出，而很少用于储蓄，导致储蓄水平低下进而引起资本形成不足，其结果生产规模和生产效率都难以提高，从而导致人均收入的低下，如此周而复始形成恶性循环。低收入在需求方面则意味着人民生活贫困，人均收入水平低，消费能力弱，市场容量狭小，致使投资诱因不足，缺乏足够的资本形成，生产规模小，生产率低下以及由此而产生的恶性循环。供给和需求两个循环相互连接、相互作用，形成了贫困地区在封闭条件下长期难以突破的贫困陷阱。
Translation - English Poverty is hardship resulted from extreme scarcity of money and resources. Insufficient capital formation plays a crucial part in the making of poverty and its vicious circles. In terms of supply, when excessively low per capita income prevails, people will rather spend most of their income on living consumption than save money, which lead to a low deposit level and then insufficient capital formation. Consequently, production and productivity can hardly be improved, causing low per capital income and a never-ending vicious circle. Concerning demand, low income means poor people, low per capita income, weak consumption power, and small market capacity, resulting in inadequate investment incentive, insufficient capital formation, small production, and low productivity, therefore a vicious demand circle. The two interconnected circles of supply and demand interact with each other, hence placing a hard-to-break poverty trap in impoverished regions in a sealed environment.
Master's degree - Beijing Foreign Studies University
Years of translation experience: 11. Registered at ProZ.com: Jul 2015.
Having graduated from the Graduate School of Translation and Interpretation, Beijing Foreign Studies University in 2011, I then joined Huawei Technologies Co., Ltd. as an inhouse interpreter. I provided interpretation and translation services to multiple projects, including branding, marketing, cyber security, etc. I have abundant interpretation/translation experience in telecommunications, finance, marketing, automobile (general), and government policies.
I am working in a government institution so my plate is not full. I have plenty time to provide translation services.