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Exchange Rate of the Chinese RMB (Intermediate)

Nov. 5, 2010
Exchange Rate of the Chinese RMB

Key Learning Point:

商务用语 (shāngwù yòngyǔ) Business vocabulary

 

Listen to the whole passage

 

Look at the short business report:

Jìn jǐ nián lái, rénmínbì huìlǜ wèntí chéngwéi guónèiwài guānzhù de jiāodiǎn.
近 几年 来,人民币     汇率 问题    成为         国内外      关注      的     焦点。

 

In recent years, governments around the world have taken notice of China's currency policy.

Zài èrlínglíngwǔ nián qī yuè èrshíyī rì de huìlǜ gǎigé zhōng,
在   2005           年     7  月   21      日 的  汇率 改革   中,

 

When the Chinese government changed its exchange rate policy on July 21st 2005,

Zhōngguó kāishǐ cǎiyòng gèng wéi línghuó de "yǐ shìchǎng wéi jīchǔ de,
中国           开始   采用      更      为    灵活   的”以 市场      为   基础 的、
cānkǎo yìlánzi huòbì jìnxíng tiáozhěng de, yǒu guǎnlǐ de fúdòng huìlǜ zhìdù,"
参考     一篮子 货币 进行      调整        的、有    管理  的 浮动    汇率 制度”,
ér búshì dāndān dīng zhù měiyuán.
而 不是 单单       盯     住   美元。

 

they began taking steps towards adopting an exchange rate regime that is more flexible and market based. However, it would also be managed with a basket of several currencies in mind, not just the US dollar.

Cǐhòu, rénmínbì duì měiyuán zài wēifú bōdòng zhōng,
此后,人民币     对    美元       在    微幅   波动     中,
yǐ měinián yuē bǎifēnzhī sìdiǎnsān de fúdù kuàisù shēngzhí, bìngqiě chéng jiāsù qūshì.
以每年     约      4.3%                     的  幅度   快速         升值,并且     呈        加速   趋势。

 

Since that meeting, the Chinese renminbi has been appreciating little by little against the US dollar, at an average rate of about 4.3% per year. But over time, the rate of appreciation has shown a tendency to accelerate.

术语 (shùyǔ): Glossary

 

汇率 (huìlǜ): n. exchange rate

 

汇率改革 (huìlǜ gǎigé): n. reform of exchange rate

 

以市场为基础的 (yǐ shìchǎng wéi jīchǔ de): adj. market based

 

一篮子货币 (yìlánzi huòbì): n. a basket of currencies

 

词汇 (huì): Vocabulary

 

浮动 (fúdòng): v. to float / n. float

 

采用 (cǎiyòng): v. to adopt

 

调整 (tiáozhěng): v. to adjust

 

微幅波动 (wēifúbōdòng): slight fluctuations

 

约 (yuē): adv. about

 

升值 (shēngzhí): v. to appreciate / n. appreciation

 

呈……趋势 (chéng…qūshì): v. to show an… tendency

 

符号 (fúhào) Notation

 

"%" – the percent sign
In Chinese, the percent sign "%" is read "bǎifēnhào."  The way we write and read it is "百分之 (bǎifēnzhī)." For example, the way we say "ten percent" is "百分之十 (bǎifēnzhīshí)."

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