英语翻译Foreign Banks in Post-WTO China:An Intermediate Assessme

英语翻译
Foreign Banks in Post-WTO China:An Intermediate Assessment
Abstract
China became a member of the World Trade Organization (WTO) in November,2001.During the three years since then,foreign banks substantially increased their presence in China.Competition between foreign and domestic banks in certain fields is increasingly visible.However,the pace of foreign bank expansion in China appears short of earlier expectations.Chinese banks have in general responded positively and achieved certain progress in improving their service,yet basic problems remain unsolved in the banking system.Several challenges to China’s financial system have already surfaced.
I.Introduction
The banking sector had been one of the most contentious issues over the process of negotiation with regard to China’s accession to the World Trade Organization.When the deals began,first with the United States in 1999 and later with the European Union in 2000,the central government of China agreed to fully open the domestic market to foreign banks within a time span of five years.Soon after China’s accession,the People’s Bank of China released the detailed schemes for the opening-up of the financial sector.Several partialopening-up measures on foreign banking in China had already taken place before and immediately after the WTO membership at the end of 2001.The main motivations of the phasing-in approach that has been adopted by the Chinese government have been understood to buffer off presumably large shocks to the domestic banking market and domestic banking institutions,“borrowing” time to address Chinese banking system reforms,and safeguarding the stability of China’s financial system.
Now it becomes clear that the door has been ajar,and foreign players have gone in.Though there are still two more years left to see the full opening-up of China’s domestic market to foreign banks,the questions of what foreign banks will do in China and how Chinese banks respond are increasingly visible.This paper will first look at the current situation regarding foreign bank entry in China since early 2002,and then identify major responsive activities of Chinese banks.The main aim of this medium-term stocktaking is to conjecture the likely pattern of the foreign bank invasion and speculate on foreign banks’ possible challenges to China’s future banking and financial development.
Let us start with the issue of what foreign banks have been doing in China since 2002.

Foreign Banks in Post-WTO China:An Intermediate Assessment
后WTO时代的在华外资银行：一份中期评估
摘要：
中国于2001年9月成为世界贸易组织成员国.此后三年间,外资银行总体上加强了其在华业务,其与中国本土银行之间在某些领域的竞争也愈发显现.然而外资银行在华扩张的步伐向较之前的预期而言仍显不足.中国本土银行一般表现比较积极,在服务上也有所改善,不过银行系统本身仍然存在一些问题有待解决.中国金融系统所面临的挑战也已然浮出水面.
I.简介
在中国加入世贸的谈判中,银行业是谈判中双方争议最多议题的之一.经过1999年同美国的谈判和随后2000年同欧盟的谈判后,中国中央政府同意在经过5年的准备期后,向外资全面开放国内银行市场.中国加入世贸后不久,中国人民银行随即公布了金融行业开放的具体细节规划.在2001年底,就在中国刚刚成为世贸成员国甚至在这之前,一些部分开放的的措施就已经实行.外界解读中国政府之所以要采取逐步开放的办法,是为了减少外资进入银行业对本土银行和银行机构造成太大的冲击,为实施银行业改革和维持中国金融体系的稳定赢得时间.
如今,可以显见,国门已然开启,国外的玩家已经进来.尽管距离全面开放还有两年的时间,但外资银行将在华有何动作,中国本土银行又将如何应对,这些问题的答案已日渐清晰.本文首先将探讨外资银行在2002年早间进入中国后的现状,然后考察中国银行的主要反应.作为一份中期盘点,本文旨在就外资银行对中国银行可能造成的冲击和对中国银行业及金融发展所造成的挑战进行预测.
首先,让我们看看自从2002年以来,外资银行在中国都有哪些动作.