Question

请金融或经济专业比较熟悉的高手翻译成英文

三、流动性过剩的潜在危害
（一）流动性过剩加剧银行风险，加大了银行的放贷压力，导致银行盲目扩大信贷规模，增加不良贷款风险。（二）流动性过剩导致资产价格虚高，流动性过剩对我国目前股市和房地产市场的价格快速上涨起到了推波助澜的作用。资金推动型的资产价格上涨特征明显。（三）流动性过剩带来潜在的通货膨胀风险。一般来说，流动性过剩时预期均衡的货币存量没有变化，物价不会出现普遍、持续的上涨。但是，由于实际货币存量已经超过均衡水平，物价水平有可能普遍上涨，从而出现通货膨胀。这中间存在一定的时滞。（四）流动性过剩降低了货币政策的调控能力
为了回收多余的流动性，央行必须采取紧缩性的货币政策，一方面发行央行票据对冲外汇储备导致的货币供给，一方面采取加息和提高存款准备金率的政策。经过2006年和2007年的大力调控，央行回收流动性的政策空间已经很有限了。
四、治理流动性过剩的措施。我认为，对当前的流动性过剩的治理，需要多种措施：（一）加强外汇管理，严格控制热钱流入（二）合理使用外汇储备：将外汇储备划分为流动性部分和投资性部分。（三）适度调整人民币汇率，根据克鲁格曼不可能三角理论，浮动汇率制、资本管制和货币政策的独立性是不可能同时成立的。加大汇率浮动的程度，可以提高货币政策的自主性和独立性。（四）加快国内利率市场化进程。我国利率没有完全市场化，给治理流动性过剩问题带来很大制约。发行央行票据不是解决流动性过剩的长期办法。从长期来看，人民币汇率实现更大程度的浮动，是平衡流动性的一个思路。但是在利率没有完全放开的情况下，汇率的浮动会造成资本的大量流动，进而又造成汇率的剧烈波动。因此，如果进一步放开汇率浮动空间，平衡国内外资本流动压力，就要使利率市场化，利率的变动和汇率的变动搭配进行。
请高手翻译啊，我明天早上就要用，我会追加分数给你的，谢谢啦

Answer 1

Third, the fluidity surplus latent harms (1) fluid surplus aggravating bank risk, enlarged the bank to make loans the pressure, caused the bank blind expansion credit scale, the increase non-performing loan risk.(2) fluidity too much causes the property price empty high, the fluidity too much At present Stock market and the real estate market price rose fast to Our country the function which added fuel to the flames.The fund impetus property rise in price characteristic is obvious.(3) fluidity too much brings the latent inflation risk.Generally speaking, the fluid surplus time anticipated balanced currency storage quantity does not have the change, the price not to be able to appear the rise which universal, continues.But, because the actual currency storage quantity already surpassed the balanced level, the price level had the possibility universal rise, thus appeared the inflation.This middle existence certain time lag.(4) fluidity too much reduced the monetary policy regulative ability in order to recycle the unnecessary fluidity, the central bank must adopt the compactness monetary policy, on the one hand the release central bank bill to flushes the currency supplies which the foreign exchange reserve causes, on the one hand adopts the interest on futures and enhances the bank reserve against deposits rate policy.After 2006 and 2007 vigorously regulation, the central bank recycling fluid policy space already very was limited. Fourth, government fluidity surplus measure.I believed that, to the current fluid surplus government, needs many kinds of measures: (1) enhancement exchange control, controls the hot money to flow in (2) reasonable use foreign exchange reserve strictly: Divides the foreign exchange reserve into the fluid part and the investment part.(3) moderate adjustment Renminbi exchange rate, according to Crue the Gehman not impossible triangle theory, the floating exchange rate system, the capital control and the monetary policy independence is impossible simultaneously to establish.The enlarge exchange rate fluctuation degree, may enhance the monetary policy the independency and the independence.(4) speeds up the domestic interest rate marketability advancement.Our country interest rate completely has not marketed, brings the very big restriction for the government fluidity surplus question.The release central bank bill solves the fluid surplus long-term means.From looked for a long time that, the Renminbi exchange rate realizes the greater degree fluctuation, balances a fluid mentality.But in the situation which the interest rate completely has not let loose, the exchange rate fluctuation can create the capital the massive flowing, then creates the exchange rate the fierce undulation.Therefore, if further lets loose the exchange rate fluctuation space, balances the domestic and foreign capital dynamic pressure, must cause the interest rate marketability, the interest rate change and exchange rate change matching carries on. Question supplement: Invites the master translation, I early morning will have to use tomorrow, I will be able to supplement the score for you, will thank