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perty rights; converting legitimate fees and charges into taxes and abolishing illegal and arbitrary fees; reducing administrative bureaucracy; removing local protectionism, barriers to interprovincial trade, and other factors preventing fair competition; and setting better accounting and auditing standards and improving disclosure and enforcement.私人部门在创造就业机会方面扮演了关键角色, 1996-2002年之间几乎所有新的工作岗位都由其创造产生。为了给私人部门创造更加宽松的环境,政府需要着重改进法律体制和司法制度;重合同守信用;消灭假货和保护知识产权;进行费改税并且消除不合法收费和乱收费;减少官僚机构;消除地方保护主义,省际间贸易障碍,以及其他妨碍公平竞争的因素;设定更好的会计和审计标准并且提高透明度和执法力度。

Income inequality within regions, the gap between rural and urban areas, as well as disparities between the eastern region and western region (where most of the poor live) have all widened. Addressing the issues of poverty and inequality is essential to maintain broad-based public support for the country’s reform program. More jobs need to be created for the poor and economic growth promoted in rural areas and in interior provinces. This calls for strengthening policies and institutions, developing infrastructure, addressing land degradation, and supporting human resources development. Other measures required include strengthening social safety nets and the social security system, initially in urban areas and gradually in rural areas; improving poverty reduction programs with better targeting; encouraging poor people to participate in decisions that affect them; and undertaking pro-poor fiscal reform, particularly at the provincial and sub-provincial levels.地区间收入不平等,农村和城市的差异,以及东西部地区间的差距(西部更多穷人)全都加大了。为了维持广大群众支持国家的改革事业,必须针对贫困和不平等采取相关措施。需要为穷人创造更多的工作机会并且促进农村地区和内陆省份的经济增长。这需要加强政策和制度建设,发展基础设施,治理土地退化,支持人力资源开发。另外一些措施包括:加强社会安全网络和社会保障体系,要从城市开始逐渐到农村地区;更好地实现脱贫计划;鼓励穷人参与那些关系切身利益的决策;采取有利于穷人的财政改革,尤其是在省级和省级以下的层次上。 Although the economic growth rate has been impressive, the efficiency of resource use can still be improved. The financial sector does not allocate capital efficiently. A large volume of NPLs and a poor

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ly performing banking system have hindered the development of an efficient nationwide financial system and imposed large costs on the economy, and represent a potential systemic risk. WTO entry and short-term challenges associated with trade and financial liberalization will exacerbate vulnerabilities in the financial system.尽管经济增长率令人印象深刻,资源利用的效率仍有待提高。财政部门不能做到资本的有效分配。大量的不良贷款和效率低下的银行系统阻碍了一个高效的全国性的金融系统的发展并且对经济加重了大量成本,而且体现了潜在的系统性风险。加入WTO和由贸易和金融自由化所带来的短期挑战将会加重金融系统的脆弱性。

To counter these risks, the Government needs to institute regulatory reform and information disclosure mechanisms in the financial sector conforming to international standards. Other measures required in a sequenced approach to liberalizing the financial sector include resolving NPLs; diversifying ownership of financial institutions; giving more autonomy to PBC and financial regulatory agencies; liberalizing interest rates; allowing foreign participation and the development of private banks; opening the capital account in phases after strengthening domestic institutions; and establishing a sound, flexible, and resilient exchange rate regime.为了规避这些风险,政府需要制定管制改革并且金融部门的信息披露机制需要遵从国际标准。还需要一系列有序的方法放松金融部门,包括解决不良贷款;金融机构产权多样化;给与人行和金融管理机构更多的自主权;放松利率;允许外资的加入和私营银行的发展;在加强国内机构后的一个阶段逐步放开资本账户;建立健全的灵活的有弹性的汇率机制。

Disposable income 可支配收入 State-owned enterprise 国有企业

China Seeks Peaceful Growth

中国寻求和平发展

Over the past 25 years, since the implementation of reform and opening-up policy, China has made a series of new and important achievements. It entered a well-off society as the beginning if this century, and is now striving toward building a society that is holistically well off. 在过去的25年,自从改革开放政策开始施行,中国取得了一系列新的重要成就。 中国在本世纪初进入了小康社会,并且现在正在努力建设全民小康的社会。

The current stage of China’s well-off society is however incomprehensive, unbalanced and of a low level. There is still a long way to go before China can shake off its state of underdevelopment. China is still developing country facing a series of big problems. To illustrate this here are two simple mathematical questions. One is multiplication and the other is division and they both focus on the number game. 然而,中国现在所处的小康社会是范围狭小,失衡和低级的。 为了摆脱不发达状况,中国仍有很长一段路要走。 中国仍然是个面临一系列大问题的发展

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中国家。在此,用二个简单的数学问题来说明这一点。 一个是乘法,一个是除法,二者都是数字游戏。

In the multiplication scenario, no matter how small and negligible and economy or social development problem seems to be, once multiplied by 1.3 billion, it become a big, or even a mega problem. 除法的关卡同样令人深思。 无论中国的财政和物质资源多么丰富,一旦被13亿除,人均水平都变的极端低下。

The division scenario is no less thought provoking. No matter how abundant China’s financial and material resources are, once divided by 1.3 billion, the per-capita level will be extremely low. 除法的关卡同样令人深思。 无论中国的财政和物质资源多么丰富,一旦被13亿除,人均水平都变的极端低下。

This 1.3 billion refers to China’s population. Moreover, we have not yet reached our population peak, which will only begin dropping off in 2040 when it reaches 1.5 billion. 这13亿是中国的人口。而且,我们尚未到达我们的人口峰顶.当它在2040年到达15亿时才会开始下降。

Of cause, we should not lose sight of other, more positive side of the coin. China’s experience in reform and opening up in the past 25 years has proved the magnitude of its labor force, creativity, purchasing power, cohesion, momentum of development and its contribution to the world as an engine of growth. 当然,我们不应该忽略事情积极的一面。中国在过去25年里的改革开放的经历证明了它的劳动力、创造性、购买力、凝聚力和发展动力的巨大,以及它作为发展动力对世界的贡献。 Better Life for All全民的更好的生活

Therefore, China’s growth and development, including both the negative and positive factors, in the final analysis, are inseparable from the number 1.3 or 1.5 billion. In this context, all the efforts in the economic, political or cultural field, and either concerning domestic, foreign or defense affairs, are for the purpose of securing a comfortable life for its 1.3 billion, or even 1.5 billion people. We will never slacken our efforts to bring about a better, richer, more decent life to oue people. Even when China reaches the level of moderately development countries in middle of this century, we will try to make further strides. 因此,中国的成长和发展,包括消极和正面因素,归根结底都与13或15亿的数字不能分离。在这个背景下,中国在经济,政治或者文化领域,以及有关国内,国外或者国防事务的努力,都是为了让它的13亿,甚至15亿人民获得舒适的生活。我们永远不会松懈我们的努力,来给我们的人民带来更好,更富,更体面的生活。即使当中国在本世纪中期到达较发达国家的水平,我们也将继续前进.

This is a great ambition shared by all Chinese people, from the leadership down to general public. 这是所有中国人民,从领导到大众,都拥有的宏伟志向.

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This objective alone will keep this generation and the next two to three generations extremely busy. 仅仅是这个目标都将令这一代和下二个到三个世代的人民极度繁忙。

To lift the life of one-fifth of the world’s population to high level is also a great responsibility that China is duty-bound to take up for human progress. 要将世界五分之一的人口的生活提升到高水平,这也是中国为人类进步而要承担的责任。

But just how should China achieve such a huge objective? 但中国应该怎样达到这样一个宏伟的目标?

As you may know, this is a topic of much debate worldwide. My argument is that China’s achievements themselves have answered and is answering this question, and will answer this question in an even convincing way in the future. 众所周知,这是个全世界都争论的话题。我的论点是中国自身的成就已经和正在回答这个问题,并且将在未来用一个更令人信服的方式来回答它.

The underlying fact is that in the 25 years since its reform and opening up, China has blazed a new strategic path that not only suits its national conditions, but also conforms to the tide of times. 一个背景事实是自从改革开放开始的这25年间,,中国开辟了一条不仅适合它的国情,而且符合时代浪潮的战略道路。

This new strategic path is China’s peaceful rise through independently building socialism with Chinese characteristic, while participating in, rather than detaching from, economic globalization. 这个新的战略道路即中国通过独立自主的建立有中国特色的社会主义而和平崛起,同时参与而非脱离经济全球化。

To this end, I would like to emphasize that to take part in economic globalization instead of detaching from it in itself represents a major strategic choice. 对这一点,我想强调一下,参与而非脱离经济全球化,这本身代表了一个主要的战略选择。

This choice was put before the Chinese people in the 1970s, when the new technological revolution and a new wave of economic globalization were developing with great momentum. The insightful Chinese leadership grasped the trend, and on the basis of its belief that today’s world be an open world and China’s development inseparable from that of the world, decided to seize the historical opportunity and shift the focus of its work to economic development. This was done through carrying out reform and opening up and endeavoring to foster the domestic market and tap the international market by implement the household contract system in rural areas, establishing four special economic zones in the coaster region and opening up 14 coastal cities. These initiatives ushered in the current reform program. 20世纪70年代,这个选择被摆在了中国人民面前.当时,新的技术革命和新的经济全球化浪潮在高速进行中. 有远见的中国领导把握住了这个时代机遇,他们相信当今的世界是一

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