问答文章1 问答文章501 问答文章1001 问答文章1501 问答文章2001 问答文章2501 问答文章3001 问答文章3501 问答文章4001 问答文章4501 问答文章5001 问答文章5501 问答文章6001 问答文章6501 问答文章7001 问答文章7501 问答文章8001 问答文章8501 问答文章9001 问答文章9501

Don’t ___ the camera ___ unless you are sure you can put it toge...

发布网友 发布时间:2024-10-20 07:42

我来回答

3个回答

热心网友 时间:2024-11-28 18:31

除非你知道怎么装回来,否则不要将这台相机拆开。
take apart

热心网友 时间:2024-11-28 18:34

Don’t blame it on the government

2010-08-26

By Xiao Gang

The figures for new yuan loans made by Chinese banks in July represented a slowdown from June. In the first seven months of this year, new loans reached 5.16 trillion yuan, compared with 7.73 trillion yuan during the same period last year.

Many people have reason to believe that China’s lending spree last year — which saw a record new loan volume of nearly 10 trillion yuan and regarded as part of the massive stimulation package to boost the economy — was the result of the government’s intervention. The evidence seems obvious — the government holds controlling stakes in those banks and appoints their chairpersons and CEOs. Naturally, the banks became the government’s cash machine.

Although this argument seems reasonable on the surface, it is far from reality.

Since the major State-owned banks have undergone a process of commercialization, from financial restructuring to forming foreign strategic partnerships to going public, they have generated a strong internal and market-driven desire to increase their lending. They did not act on government orders.

As a matter of fact, the banks had strong incentives to rapidly grow their loan portfolios before the global financial crisis, but financial regulators had imposed an annual limit on the maximum amount of new loans each could issue. Thanks to such an administrative measure, potential lending had been temporarily curbed. During the crisis, the government-led stimulus package created a window of opportunity, which the banks had been waiting for years. Part of this included lifting the cap on bank lending.

Profit is the main driving force of banks. Listed banks have shareholders and must pay attention to market value. Money must be made each quarter and each year to improve certain key performance indices, such as return on equity and return on assets. Like listed banks anywhere in the world, these banks must catch the eyes of new investors, and increase returns to existing ones.

In China, because of the non-liberalized interest rate, net interest margins on yuan loans are almost double of that on foreign currency loans in the international market. In such an environment, which bank wouldn’t want to increase its lending? The more banks lend, the more profits they earn. Simple.

Interestingly, the banks have revamped the remuneration schemes top-down, closely linking their employees’ compensation and branches’ expenses to performance, in particular, to revenues and profits. The compensation usually consist of two parts: one is the basic wage related to the different positions, and the other is performance-linked bonus that generally accounts for 50-70 percent of the total compensation. Those who do not advocate giving more loans (and therefore more profits) are, of course, not so popular within banking circles.

While expanding their loan portfolios, Chinese banks are smart enough to take the risk-averse approach and to focus on lending to large State-owned enterprises (SOEs). These SOEs often enjoy monopoly in their sectors and favorable conditions in an industry and enjoy quasi-government credit ratings. This can, in turn, explain why Chinese banks have steadily improved their asset quality and reduced their non-performing loans ratios.

In recent years, the banks have also boosted their small- and medium-sized enterprises (SMEs) finance business under the government’s guidance and encouragement. This area allows an even wider net-interest margin, but SME loans account for a relatively small proportion of their total assets. The banks are full aware of the risks of granting loans to SMEs, which are more than often than not short-lived (more than 60 percent of the SMEs have a life cycle of less than 5 years) and often lack transparent financial transactions.

What’s more, once an SME loan turns bad, the relevant bank staffs are more likely to be questioned (and, perhaps, punished) than if an SOE defaults on its loans. Often such questioning is accompanied by suspicions of corruption and under-the-table dealings.

Competition plays its part in the increase of loan amounts. More transparency and regulatory discipline require the banks to disclose their financial statements on a quarterly basis, and the financial regulators want to obtain data on new loans from all the banks daily. Banks then voluntarily exchange such information with each other, and this mechanism leads to comparisons among the banks.

Every bank pays special attention to its market share and league table position, almost daily, so the inter-bank competition is constant and intense. This “herd” effect has sometimes dominated the banking business and has influenced the banks’ behavior, which could have contributed to the irrational expansion of their business.

Critics argue that the Party committee within the banks that decided to increase the loan size. Many take this argument for granted. But it is not true. All the listed banks have established, modern corporate governance. Non-executive directors, including independent directors, take up the majority of the board seats. The decision-making procedures are quite rigorous and transparent, with each member having one vote. It is impossible for the Party committee to dictate the directors during voting. The banks’ annual deposit, and loan plans and budgets do not come into effect until the board of directors approves them.

Whereas the board and the Party committee are two separate organizations within the banks, the board has the legal and final responsibility to run the bank according to the banker’s charter. Even in areas where the two organizations could overlap, for example, an annual budget, an executive vice-president’s appointment, and a major investment project, the Party committee should discuss them and translate its resolutions into some proposals, all of which must be presented at the meeting of the board, which has the final say. No resolution can be passed without obtaining more than two-thirds of the votes.

As a chairman of a bank, I have never received any instructions from the government to lend money to any project. All decisions relating to business were made either by the board, or by the management.

The government’s active fiscal policy and loose monetary policy, without doubt, encouraged the explosion of loans. Yet blaming the lending spree on the government is easy, overly simplistic and unfair. Growing big is the best way for Chinese banks to make more money under the current financial environment. This model of growth, however, neither assures the long-term sustainable development of the banking sector nor satisfies the need of a balanced economic and social structure.

Things are very complicated, so will be the solution. It will be a synthetic effort on the part of the government, the regulators, enterprises, and the commercial banks.

热心网友 时间:2024-11-28 18:35

take sth apart 意思为把什么东西拆开 所以应该是take apart
全局意思为别把相机拆开,除非你能够确保可以装回去。
声明声明:本网页内容为用户发布,旨在传播知识,不代表本网认同其观点,若有侵权等问题请及时与本网联系,我们将在第一时间删除处理。E-MAIL:11247931@qq.com
求这图片原图或者主角 出自哪一边电影或者电视剧 哪位大神知道这张图原版在吗?求原版。。。 在word中加下划线时第一次出现一条下划线第二次怎么就出现两条... 诛仙2资料站里的宠物展示能在npc买到吗 求一些诛仙2中的可以变为人形的宠物名字 诛仙2 神域的神农殿里,这是什么东西 诛仙2宠物元神问题 诛仙2 商城 中 宠物元神 怎么比 宠物 还贵啊?宠物元神是干什么的啊... 电热水器怎么安固定花洒 猛鬼夜惊魂剧情介绍 quite simple是什么意思 simple与plain的区别 ...|HDPE排水管厂家 |大口径PE管十大品牌|PVC排水管价格 甲状腺的准确位置 甲状腺左侧叶近峡部低声回声结节,血运丰富 甲状腺左叶的位置 猜八个字,高分悬赏. 步步高x5l设置了vivo账户密码,忘记了怎么办,要恢复出厂设置,也是要密 ... 步步高vivox5l恢复出厂设置但是不想把图片音乐什么的格式化怎么办啊 和田玉墨绿玉值钱吗 和田玉墨绿色值钱吗 墨绿色的玉叫什么 和田玉墨绿色是墨玉吗 苏州西环路交警大队周六上班吗 vivo x5sl 恢复出厂设置 清除所以数据密码是多少? 杭州七友通信科技有限公司怎么样? 面团怎么做又软又好吃 杭州七友通信科技有限公司怎么样 ...美元资产分布曝光,离婚前是美国最大农田主,你怎么看... 温州市远望电缆附件有限公司怎么样? 洪爱民简介 洪爱民的介绍 "派出所的故事"其中两位女警察叫什么名字 泡椒萝卜怎么控制盐分才能避免过咸? 找一个安徽合肥微信名字叫燕子美妆的人 ...了几个爆震传感器还是亮故障码是爆震传感器1电路输入高持续故障码怎... ...323故障灯亮换了几个爆震传感器还是亮故障码是爆震传感器... p0325爆震传感器电路故障 vivo x5sl一键格式化之后就会回到刚买来一样吗 vivox5sl恢复出厂设置能不能回到最初的系统 vivo x5sl vivo手机寻回的密码忘了 接吻鱼雌雄鉴别 如何分辨雌雄接吻鱼?要详细的 接吻鱼怎么区分雌雄最好分别有图片 迅雷会员账号2024年4月是多少? 产品经理如何编写一份需求接口文档? 在淘宝网买韩国食品可靠吗? 今天在海岸城看到买韩国食品的。好像现在韩国食品也挺多的。韩国食品... 韩国进口食品和国内食品相比,价格哪个高? 板式家具哪种品牌比较好排名 板式家具选择什么材质的好