Translation Help - How accurate am I?

[mthmchris]

Alright, so this sentence is obviously above me skill level, but I enjoy Finance, so I can get myself to work with this kind of article easier. Bolded areas are parts that I don't quite understand. Source is here: http://magazine.caing.com/2010-03-21/100128411.html

"2010年的中国经济或是进入新世纪以来“最为复杂的一年”。全球经济艰难复苏，中国经济强劲回升中难掩不断积累的新风险，前路变数正多。"

My (crappy) try at it: The 2010 Chinese economy (will decide whether or not) [how should "或是" be interpreted here?] to enter a new century (in the wake of) [以来] its most complicated year. The global economic recovery is very difficult - the Chinese economy rebounded with force, (while finding it difficult to hide) [中难掩] the uninterrupted accumulation of new risks. The road forward is has many variables (what's the purpose of 正 here)?

"当下，中国一揽子刺激政策的副作用日益显现，超高速货币信贷增长带来的通胀及资产价格膨胀压力逐渐升高"

At this juncture [this a decent translation of 当下?], the Chinese government's stimulus package's side effects are becoming more and more obvious with each passing day. Booming [decent translation of "超高速" super high fast?] monetary and credit growth (brings the) [confused about the 的 here] gradual rise of asset and consumer price inflation.

"2月消费物价指数（CPI）同比涨幅已达2.7%，且涨幅较上月显著扩大，通胀压力不可小觑。"

February's commodity price level index has already increased by an annualized 2.7% - moreover, the amount of the increase is larger than last month's notably large expansion. Inflationary pressures should not be underestimated.

[i think I nailed this sentence]

"令人担忧之处在于，若宽松货币政策退出，则过去一年多形成的在建投资项目可能出现“烂尾”现象，甚至损毁经济复苏成果。"

(Concern lies in the fact that) [the "之处在于" especially confuses me here. Is this a set phrase or do I just not understand the grammar?] if loose monetary policy lets up [退出], then the investment projects under construction that were formed about a year ago might appear to resemble ("mothballed projects") [i think I understand the idea here - crappy real estate projects that're put on hold indefinitely], going so far as to damage the economic recovery.

"宏观经济政策处于两难境地，亟待破解之策。"

Macroeconomic policy faces [alternatively, "is located in"] a dilemma. A policy that analyzes and explains is demanded [i really don't understand the function of 之].

"应对危机期间，大量政府投资向国企倾斜，民企受到冷落，民间投资意愿大幅萎缩。"

In addressing the current time of crisis, a large quantity of government investment has been directed to [倾斜 - leaned to] SOEs, with private companies spurned. Non-governmental investment willingness has shrunk by a wide margin.

"个中原因，既有投资回报预期下降，民企主动减少投资，也有资源向国企集中，民企被“挤出”。"

The root cause is that pre-existing [is this correct? Doesn't make too much sense] investment returns are declining, private companies are actively trying to reduce their investment, their [are they talking about the private company's resources here?] resources are being focused towards SOEs, private companies are being crowded out.

"中小企业融资困难，一些民营企业步履艰难。"

SME financing is a problem, a small number of privately owned companies are muddling through.

"然而政府投资的效用正在递减，而外需恢复尚待时日，面对短期的政策困境及未来的结构调整之路，中国经济急需新的增长动力。"

However, the effectiveness of government investment is degrading, yet overseas demand still needs time to recover. In both confronting the short term (political predicaments) [i'm not sure if they're talking politics here or short term economic policy] as well as structural reforms (for China's growth trajectory) [decent interpretation of "of the way"?], the Chinese economy urgently requires a new growth engine.

"我们认为，尽快启动民间投资，是保持复苏势头，确保经济稳步增长的有效途径。"

We believe that opening up private investment as quickly as possible will protect the momentum of the economic recovery and ensure an efficient path of steady economic growth.

Thanks in advance.

Edited April 5, 2010 at 10:37 AM by mthmchris

[Kenny同志]

"2010年的中国经济或是进入新世纪以来“最为复杂的一年”。全球经济艰难复苏，中国经济强劲回升中难掩不断积累的新风险，前路变数正多。"

The year 2010 is perhaps the most complicated one for China’s economy from the beginning of this century. As the global economy is struggling to recover, there are increasing new risks that are hard to hide in China’s vigorously rebounding economy. The unstable factors are many ahead.

The translation of the last part appears a little awkward.

或是 perhaps

回升中 in the rebounding

难掩 hard to hide or disguise

正 I don’t think it is well used here.

"令人担忧之处在于，若宽松货币政策退出，则过去一年多形成的在建投资项目可能出现“烂尾”现象，甚至损毁经济复苏成果。"

What is worrisome is that if the loose monetary policy withdraws, the investment projects under construction that were formed in the past twelve-odd months will end uncompleted, or worse still, ruin the achievement of economic recovery.

令人担忧之处 what is worrisome or what worries people.

As for 烂尾, you can refer to iCIBA or 维基百科

"2月消费物价指数（CPI）同比涨幅已达2.7%，且涨幅较上月显著扩大，通胀压力不可小觑。"

February's commodity price level index increases by 2.7% compared with the same period last year, moreover, the increase is notably larger than that of last month. Inflationary pressures should not be underestimated.

同比 compared with the same period last year

较上月显著扩大 notably larger than that of last month

"宏观经济政策处于两难境地，亟待破解之策。"

Being in a dilemma, the macroeconomic policy needs a solution badly.

The character 之 is equivalent to 的 in this case and in many others. A literal translation of the second part would be, anxiously waiting for a strategy of solution.

I abandoned strategy because a solution can be a strategy here.

某某带来的通胀（通货膨胀）inflation that is caused by 某某, or literally, inflation that 某某 brings (about).

Edited April 6, 2010 at 02:19 AM by kenny2006woo

[mthmchris]

Thanks, I have a bit more here too. If you can help me with it, great, if not, that's fine too.

"就短期看，启动民间投资可以巩固复苏成果，保持经济增速。"

From a short term perspective, getting private investment going could consolidate the gains from the recovery, and preserve the accelerating economy.

"据中金公司估算，中国尚未放开管制的行业，占全国固定资产投资总量的比重，与房地产业旗鼓相当，其工业产值占比甚至远远高于房地产业。"

According to CICC estimates, China has not yet (released control of their industry) [what in the world does this mean, privatize?], which accounts for a (large share of) [no where does it say large, it just says "总量的比重", which I can't quite interpret] the gross fixed asset investment in the country. In addition, real estate is a similar situation, (but the output value of industrials is far and away higher than that of real estate) [i assume they're saying that the output of industry is higher than that of real estate?].

"由于民间资本往往比国有资本经营得更好，一旦这些领域对民间资本开放，其对经济的拉动将不亚于先前的出口制造业和房地产业。"

Due to the fact that private capital is usually managed better than government-owned capital, once this area vis-a-vis private investment are opened, their influence on the economy will be nothing less than that exports and real estate was previously.

"另一方面，开放民间投资可以抑制资产泡沫。由于投资领域狭窄，大量资本流入资产市场，房价高涨便是其表现之一。"

Another aspect is that opening private investment could suppress asset bubbles. Due to the fact that there are narrow investment channels, a large amount of capital flows into asset markets, of which booming house prices are one manifestation.

"如果放开民间投资，将资本疏导入新的产业领域，可望抑制资产泡沫。"

If private investment is opened, then capital will ease into the new industries, promising to mitigate the asset bubbles.

"就长期看，放开民间投资则有助于扩大就业、促进经济转型、增强市场活力和提高经济效率。"

From a long term perspective, opening private investment would be helpful in expanding job creation, promoting an economic transition, strengthening market activity and increasing economic efficiency.

"据全国工商联统计，城镇居民的70%以上、农民工85%以上在民企就业。"

According to the National Bureau of Statistics, 70% of urban workers and 85% of rural workers are employed in privately owned companies.

"“十一五”以来，个体私营经济每年新创造1000多万个就业岗位，占城镇新增就业的85%以上。"

Since the eleventh five year plan, the private economy has created ten million new jobs per annum, accounting for over 85% of urban job creation.

"推动民间投资，必会新增大量就业岗位，缓解就业压力。"

Pushing private investment will create a great number of new jobs, helping relieve job creation pressures.

[cerberus]

"就短期看，启动民间投资可以巩固复苏成果，保持经济增速。"

From a short term perspective, getting private investment going could consolidate the gains from the recovery, and maintain growth in the economy.

中国尚未放开管制的行业，占全国固定资产投资总量的比重，与房地产业旗鼓相当，其工业产值占比甚至远远高于房地产业。"

中国尚未放开管制的行业:(Private investment of) Industries in China that have not yet been deregulated, accounts for as large a proportion of total national fixed asset investment as the real estate industry, and it(referring to the non-deregulated industries) has a far higher proportion of industrial output than the real estate industry.

[Kenny同志]

It’s a pleasure if my posts can be helpful. But I am not a native English speaker, so correct me if I am wrong. 

"应对危机期间，大量政府投资向国企倾斜，民企受到冷落，民间投资意愿大幅萎缩。"

In this time of crisis, a huge quantity of government investment is slanted to the SOEs, leaving private companies snubbed, therefore, non-government willingness to invest is largely discouraged.

"个中原因，既有投资回报预期下降，民企主动减少投资，也有资源向国企集中，民企被“挤出”。

Reasons behind are that private companies cut back their investment as the rate of return (ROR) is expected to lower and that private companies are squeezed out as the resources are converging for the SOEs.

"中小企业融资困难，一些民营企业步履艰难。"

SMEs, (mostly privately owned companies) have difficulty in their financing. Some are even struggling to survive.

"然而政府投资的效用正在递减，而外需恢复尚待时日，面对短期的政策困境及未来的结构调整之路，中国经济急需新的增长动力。"

However, while the effects of government investment are gradually fading away, overseas demand still takes time to recover. Faced with the temporary policy predicament and the future task of structural reform, the Chinese economy is in an urgent need of new growth engines.

"我们认为，尽快启动民间投资，是保持复苏势头，确保经济稳步增长的有效途径。"

We believe that unleashing private investment as quickly as possible will be an effective way to keep the momentum of the economic recovery and to ensure steady economic growth.

"就短期看，启动民间投资可以巩固复苏成果，保持经济增速。"

From a short term perspective, getting private investment going could consolidate the gains from the recovery, and keep the speed of economic growth.

"据中金公司估算，中国尚未放开管制的行业，占全国固定资产投资总量的比重，与房地产业旗鼓相当，其工业产值占比甚至远远高于房地产业。"

According to CICC estimates, in China, the industries that are not free from the state’s管制(supervision?) have a similar proportion with the real estate industry in the national gross fixed asset investment. 其工业产值占比甚至远远高于房地产业。(I don’t quite understand this part.)

占比 might be a financial term, but I am not sure.

"另一方面，开放民间投资可以抑制资产泡沫。由于投资领域狭窄，大量资本流入资产市场，房价高涨便是其表现之一。"

On the other hand, opening private investment could suppress asset bubbles. Due to the limitness of investment channels, a large amount of capital flows into asset markets, of which booming house prices are one manifestation.

"如果放开民间投资，将资本疏导入新的产业领域，可望抑制资产泡沫。"

The asset bubbles can be expected to be held in check if we lift the control over private investment and direct (its) capital into other industries.

"就长期看，放开民间投资则有助于扩大就业、促进经济转型、增强市场活力和提高经济效率。"

From a long term perspective, unleashing private investment will be helpful in expanding job creation, promoting an economic transition, strengthening market activity and increasing economic efficiency.

"推动民间投资，必会新增大量就业岗位，缓解就业压力。"

Encouraging private investment will surely create a great number of job opportunities, thus relieving the pressure from finding employment.

Edited April 6, 2010 at 01:04 PM by kenny2006woo