中国外汇储备第三季增加1940亿美元

飞雪寒冰

China’s foreign exchange reserves rose a record amount in the third quarter thanks to capital inflows and a persistently large trade surplus that adds weight to complaints Beijing is intentionally undervaluing its currency.
由于资本流入和持续的庞大贸易顺差，中国外汇储备第三季上升数额创纪录，这给有关北京在故意压低人民币的抱怨增添了份量。

The reserves, already by far the largest in the world, increased by $194bn in the past three months to $2,650bn, eclipsing the previous record rise of $178bn in the second quarter of 2009.
过去三个月里，规模已在全球遥遥领先的中国外汇储备增加1940亿美元，至2.65万亿美元，超过2009年第二季1780亿美元的创纪录增加。

飞雪寒冰

The recent strengthening of the euro and yen against the US dollar explains some of the rise because China’s reserves are expressed in dollars but invested in a range of currencies and assets. But the record build-up also provides evidence of an undervalued renminbi and will bolster the case of trade partners calling for faster appreciation in the currency.
欧元和日元对美元汇率近期走强，部分解释了这种上升的理由，因为中国的外汇储备以美元计价，但投资于一系列货币和资产。但外汇储备这一创纪录的增长也提供了证据，证明人民币被低估，并将使贸易伙伴更有理由呼吁让人民币加快升值。

“With hostilities in the currency war already declared, a record increase in FX reserves in the third quarter and a near record haul for exporters in September hangs a target around the neck of China’s exchange rate regime,” said Tom Orlik, an economist at Stone & McCarthy in Beijing.
Stone & McCarthy驻北京的经济学家汤姆•奥尔利克(Tom Orlik)表示：“随着汇率战已摆开阵势，第三季外汇储备创纪录增加以及9月份接近历史纪录的出口商进账，给中国外汇制度的胸前挂上了一个靶子。”

飞雪寒冰

China’s trade surplus narrowed in September but the moderation is unlikely to placate external critics. The surplus hit $16.9bn last month, below August’s $20bn but still uncomfortably high for deficit countries, such the US, which accuse China of undervaluing its currency to support domestic industry.
中国贸易顺差9月份缩小，但其幅度不太可能平息外部抨击。贸易顺差在上个月达到169亿美元，虽低于8月份的200亿美元，但在美国这样的逆差国家看来仍高得令人不快。这些国家指责中国为支持国内产业而压低人民币。

Exports rose to $145bn, up 25.1 per cent in September from the same month last year and only slightly lower than July’s record high, while imports were up $128bn, an annual increase of 24.1 per cent.
出口在9月份上升至1450亿美元，同比增长25.1%，仅比7月创纪录增速略低一点，而进口上升1280亿美元，年率增长24.1%。

飞雪寒冰

In August, imports grew 35.2 per cent from a year earlier while exports expanded by 34.4 per cent.
8月份，进口同比增长35.2%，而出口则扩张34.4%。

China’s overall trade surplus for the first three quarters fell 10.5 per cent from the same period last year, according to customs data released on Wednesday.
周三公布的海关数据显示，中国今年前三季总贸易顺差同比下降了10.5%。

飞雪寒冰

But the $120.6bn surplus for the first nine months is still seen as too high and an indicator of one of the most serious structural imbalances in the global economy. “The fall in China’s trade surplus is unlikely to do much to reduce international pressure on China to move faster on the currency, and Wednesday’s data suggest that Beijing has plenty of scope to allow appreciation in the months ahead,” said Brian Jackson, Royal Bank of Canada economist.
但前九个月1206亿美元的贸易顺差仍被认为太高，并被视为全球经济中最严重结构性失衡之一的指标。加拿大皇家银行(Royal Bank of Canada)的经济学家布赖恩•杰克逊(Brian Jackson)表示：“就减轻要求中国让人民币加快升值的国际压力而言，中国贸易顺差的这一下降不太可能起多少作用。且周三的数据似乎表明，中国政府在未来几个月有很大空间让人民币升值。”