官方外汇

在亚洲和俄罗斯金融危机过去10年后，亚洲新兴国家保持了经常账户盈余去年平均为国内生产总值（GDP）的5%并建立了丰厚的官方外汇储备。

A decade after the Asian and Russian financial crises , emerging Asian countries have maintained current account surpluses – last year averaging 5 per cent of gross domestic product – and built up hefty official foreign exchange reserves .

由于对外汇市场的干预，官方外汇储备也在迅速增长。

Official foreign exchange reserves are also rising quickly as a result of currency interventions .

此外，盈余的出现是谨慎政策（deliberatepolicies）的结果这一时期官方外汇储备的积累，以及主权财富基金的扩张都显示了这一点。

Moreover , the emergence of the surpluses was the result of deliberate policies shown in the accumulation of official foreign currency reserves and the expansion of the sovereign wealth funds over this period .

这几乎正好为7770亿美元的官方外汇储备积累所抵消。

These were almost perfectly offset by its $ 777bn accumulation of official foreign exchange reserves .

主权财富基金的规模仍然远远小于官方外汇储蓄（约5.6万亿美元）。

The sovereign funds remain far smaller than official foreign currency reserves ( approximately $ 5,600bn ) .

到2008年7月，中国积聚了约2万亿美元的官方外汇储备。

By July 2008 , China had accumulated about 2 trillion US dollars in official exchange reserves .

官方外汇市场操作制度安排比较分析&以美国、欧盟、英国和日本为例

A Comparative Study of Institutional Arrangement of Foreign Exchange Operations-Experience of US , EU , UK and Japan

根据目前的预测，中国官方外汇储备可能在4年内增长一倍，超过2万亿美元。

On current projections , Chinese official reserves could double to more than $ 2000bn within four years .

但有关人士预计，这些基金将迅速增长，可能在数年内超过官方外汇储备。

But the expectation is that these funds will grow rapidly , possibly to exceed official currency reserves in a number of years .

通过将其官方外汇储备投资于发达国家的政府债券，它们降低了公共领域的借贷成本，使得发达国家更容易回到“大政府”状态。

By investing their official reserves in developed world government debt , they reduce the cost of public sector borrowing , making a return of big government easier .

中国执行重商主义的外汇政策，推动官方外汇储备超过3万亿美元，其中大部分投资于战略对手的国债。

Its pursuit of a mercantilist exchange rate policy has boosted official reserves to more than $ 3tn , which are substantially invested in the IOUs of its strategic rival .

预计这种增长将主要来自亚洲国家。过去10年，这些国家官方外汇储备占全球总额的比例从三分之一升至三分之二。

Much of this growth is expected to come from Asian countries , whose share of official currency reserves has risen from a third of the global total to two-thirds over the past decade .

中国央行警告称，黄金市场正出现泡沫，由此降低了人们的期望即北京将购买黄金，藉此将官方外汇储备资产从美元转向其它资产。

The Central Bank of China warned about a developing bubble in the gold market , playing down expectations that Beijing would buy bullion to diversify its official reserves away from the US dollar .

自1994年汇改以来，中国外汇储备一直持续、快速增长，目前，我国已是全球官方外汇储备规模最大、增长最快的国家。

Starting in 1994 , Chinese foreign exchange reserve is steadily increasing since the reformation of foreign exchange management system . At the present time , China has the largest scale and the highest growth rate of foreign exchange reserves in the world .

近年来，我国的外汇储备快速增长。自2001年以来，我国官方外汇储备持续迅猛增加，出现了自1994年外汇体制改革以来的第二个高速增长期。

Recently , China 's foreign exchange reserve increases rapidly and , since 2001 , official foreign exchange reserve increases a lot and the second rapid growth period of foreign exchange reserve appears since foreign exchange system reform in 1994.The theoretical circle has different opinions .

2008年上半年，中国官方的外汇储备劲增2800亿美元。

Official reserves grew by a massive $ 280bn ( 140bn , 177bn ) in the first half of 2008 .

外管局表示，用官方的外汇储备购买此类资产，可能会推升其市场价格，损害已经在大量购买黄金、石油和其它大宗商品的中国居民和企业。

Using official reserves to acquire such assets would only push up their price , and so hurt the Chinese individuals and companies that are already buying large amounts of gold , oil and other commodities , it said .

冲销即通过发售国内票据，消除官方干预外汇市场产生的多余流动资金，这不仅仅是可行的，甚至还极为有利可图&如果愿意忽视最终遭受巨额资本损失的风险。

Sterilisation – the sale of domestic securities to mop up the excess liquidity generated by official intervention in foreign currency markets – is not merely feasible , but even highly profitable , if one is prepared to ignore the risk of a large ultimate capital loss .

当然，这也并不是说日本官方不能干预外汇市场。

Of course , that does not mean that Japanese authorities cannot intervene in currency markets .

官方持有的外汇资产

Official holdings of exchange assets

1994年1月1日，我国的外汇管理体制进行了重大的改革，人民币官方汇率与外汇调剂市场汇率并轨，实行了以市场供求为基础的、单一的、有管理的浮动汇率制。

The official exchange rate and the foreign currency swap market exchange rate were unified . The managed floating exchange rate system based on market supply and demand was implemented .

一般说来，外汇管制指的是官方对一国外汇交易的管制。

Generally speaking , exchange control is the official control in the foreign exchange dealings of a country .

金融管理局将香港特别行政区政府的官方储备，即外汇基金和土地基金作为两个独立的投资组合来管理。

The HKMA manages the official reserves of the HKSAR Government as two separate portfolios , namely the exchange fund and the land fund .