Question

请求专业英语翻译~量比较多，拜托了。。。急

人民币汇率制度经历了五个发展阶段：
1.1949-1952，人民币汇率确定阶段。
人民币对外汇率制度，最初在1949年1月18日在天津产生，以后陆续在各大口岸和城市挂牌1950年7月8日国家统一了人民币汇率牌价。
2.1953-1973，固定汇率阶段。
1953年后我国实行经济计划，物价长期稳定，国际上通行布雷顿森林货币体系，主要国际货币的汇率稳定。
3.1973-1993，人民币实行汇率阶段。
随着70年代布雷顿森林体系的崩溃，各国普遍实行了浮动汇率制，人民币汇价也参照国外汇率浮动，并采用盯住“一篮子货币”的方式进行调整。
4.1994-2005，实行市场汇率阶段。
从1994年1月起，人民币汇率实行并轨。官方汇率与市场汇率并轨。人民币汇率根据外汇市场供求状况浮动，货币当局情况通过外汇市场买卖外汇干预汇率。这样，人民币汇率就形成了单一的、以市场供求为基础的、有管理的浮动汇率生成机制，从而基本上实现了从官方汇率向市场汇率的过渡。
5.2005.7.21-现在，进一步完善市场汇率形成机制阶段。
2005年7月21日起，我国开始实行以市场供求为基础、参考一篮子货币进行调节、有管理的浮动汇率制度。人民币汇率不再盯住单一美元，形成了更富弹性的人民币汇率机制。同时，中国人银行负责根据国内外经济金融形势，以市场供求为基础，参考一篮子货币汇率变动，对人民币汇率进行管理和调节，维护人民币汇率的正常浮动，保持人民币汇率在合理、均衡水平上的基本稳定，促进国际收支平衡，维护宏观经济和金融市场的稳定。
从人民币汇率制度的改革历程来看，与人民币利率的市场化历程相似，同时，汇率的市场化也是金融深化的重要内容之一。汇率是影响利率的重要因素之一。同时，国际金融市场的瞬息万变与国内金融市场的变动息息相关，汇率的变动导致国际资本流动，通过影响我国的货币供应关系，从而影响我国货币利率。
我国利率市场化改革主要经历了以下四个步骤：
1.1996年放开银行间同业拆借利率。设置了中国银行同业拆借利率（China Inter-bank Offered Rate, CHIBOR）
2.1997年开放债券市场利率
3.2004年实现“贷款利率管下限，存款利率管上限”。
4.2007年推动货币市场基准利率SHIBOR，形成了目前管制利率与市场利率并存的双轨制利率制度。
搭建市场利率与管理利率的桥梁，畅通货币政策传导渠道，是我国转轨经济时期的必然选择。市场基准利率的形成是核心要素，SHIBOR的推出正式承载了这一历史重任。

Answer 1

The RMB exchange ratesystem has experienced five stages of development:
1.1949-1952,the RMB exchange ratedetermination stage.
RMBexchange rate system,originally in January 18, 1949inTianjin,one after anotherin theport and thecitylisted in July 8, 1950 thenational unityof the renminbi exchange ratequotation.
2.1953-1973,the fixed exchange rateperiod.
In 1953China'seconomic plan,long-termstable prices,international practiceBretton Woods monetary system,stabilizing the exchange rate ofmajor international currency.
3.1973-1993,RMB exchange ratestage.
With the 70'sthe collapse of Bretton Woods system,many countriesadoptedfloating exchange rate system,the RMB exchange ratealsoreference to the foreignexchange rate fluctuations,andbyfocusing on "a basket of currencies"way to adjust.
4.1994-2005,themarketexchange ratestage.
From 1994January,RMB exchange ratesystem.The official exchange rate andthe market exchange rate.The RMB exchange ratebased on thefloatingstate of supply and demand offoreign exchange market,monetary authoritiesthroughthe sale of foreign exchangeintervention in the foreign exchangemarketexchange rate.In this way,the RMB exchange rate hasformed a single,based on market supply and demand,managed floating exchange rateformation mechanism,thusbasicallyrealized thetransitionfrom the officialexchange rateto the marketexchange rate.
5.2005.7.21- now,to further improve themarketexchange rate formation mechanism.
Since July 21, 2005,China began toimplement based on market supply and demand,referenceto a basket of currencies,the managed floating exchange rate system.RMB exchange rate is no longerpegged to the US dollar,the formation ofamore flexible RMB exchange rate mechanism.At the same time,people "s Bank of Chinais responsible for thedomestic and international economic and financial situation,based on market supply and demandwith reference to abasket of currencies,exchange rate changes,management andadjustment of theRMB exchange rate,maintainthe fluctuation of RMB exchange rate,keep the basic stability ofthe RMB exchange rate at a reasonable,balanced level,promote international balance of payments,the maintenance of macroeconomic and financialthe stability of the market.
From the reformof RMB exchange rate regime,similarity,and marketizationof RMBinterest rateat the same time,one of the important contents ofmarketizationandfinancial deepeningexchange rate.Exchange rateis one of theimportant factors affecting therate of.At the same time,vary from minute to minuteandthe domestic financial marketis closely related tothechangesin the international financial market,exchange rate changeslead to international capital flows,theimpact of money supplyin China,thusthe impact of China'scurrency interest rate.
China's market-oriented reform of interest ratesmainly through thefollowing four steps:
1.1996 yearslet go ofinterbank offered rate.Set up theChinainterbank offered rates(ChinaInter-bankOfferedRate,CHIBOR)
2.1997 yearsof openbond market interest rates
3.2004 years to achieve"lower lending rates,deposit rates and cap".
4.2007 years ofpromoting the money market benchmark interest rateSHIBOR,the formation of the currentregulated interest rate andmarket interest ratethe two-track system ofinterest rate system.
Build a bridge ofmarket interest rate andinterest rate,monetary policy transmission channels,is the inevitable choiceof economic transition of our country.The formation ofmarket benchmark interest rateis the corefactor,SHIBORofficially launchedbearingthe historical responsibility.

Answer 2

RMB exchange rate regime has undergone five stages of development:
1.1949-1952, the RMB exchange rate to determine phase.
Foreign RMB exchange rate regime, initially in January 18, 1949 in Tianjin generated after another in the major ports and cities listed 8 July 1950 the RMB exchange rate premium national unity.
2.1953-1973, a fixed exchange rate phase.
After 1953, China adopted economic planning, long-term price stability prevailing in the Bretton Woods international monetary system, the main international currency exchange rates.
3.1973-1993, the renminbi exchange rate phase.
With the collapse of the Bretton Woods system the 1970s, countries generally has a floating exchange rate regime, the RMB exchange rate is also reference to foreign exchange rate fluctuations, and the use of pegged "a basket of currencies" way to adjust.
4.1994-2005, the implementation of market exchange phase.
From January 1994 onwards, the implementation of the RMB exchange rate unification. The official exchange rate and the market exchange rate unification. RMB exchange rate based on market supply and demand foreign exchange fluctuations, the situation through the foreign exchange market, the monetary authorities intervene in foreign exchange trading. Thus, the RMB exchange rate to form a single, a market-based, managed floating exchange rate formation mechanism, which has basically realized the official exchange rate from the transition to a market rate.
5.2005.7.21-Now, to further improve the market exchange rate formation mechanism of phase.
July 21, 2005, China began to implement a market-based, with reference to a basket of currencies, a managed floating exchange rate system. RMB exchange rate is no longer pegged to the U.S. dollar, the formation of a more flexible RMB exchange rate mechanism. Meanwhile, the Chinese people bank responsible for domestic and international economic and financial situation, market supply and demand with reference to a basket of currencies exchange rate fluctuations, the RMB exchange rate management and regulation, maintaining a normal floating RMB exchange rate, maintain the RMB exchange rate at a reasonable and balanced level the basic stability, the promotion of international balance of payments and safeguard macroeconomic and financial market stability.
The reform of the RMB exchange rate regime from process point of view, with the RMB interest rate marketization process similar to the same time, the exchange rate market is an important part of financial deepening. The exchange rate is one of the important factors affecting interest rates. Meanwhile, the rapidly changing international financial markets and changes in the domestic financial market is closely related to exchange rate movements lead to international capital flows, by affecting the country's money supply relationship, thus affecting our currency rates.
Market-oriented reform of interest rates primarily through the following four steps:
1.1996 was released interbank rates. Set up a China Interbank Offered Rate (China Inter-bank Offered Rate, CHIBOR)
2.1997 open bond market interest rates
3.2004 to achieve "minimum lending rate tube, pipe caps deposit interest rates."
4.2007 push money market benchmark interest rate SHIBOR, formation of the current regulatory and market interest rates interest rates coexist two-track system.
Market interest rates and management structures of the bridge, smooth monetary policy transmission channels, is the inevitable choice during the transition economies. Market benchmark interest rate is the core element of the formation, SHIBOR officially hosted the launch of this historic task.

Answer 3

The RMB exchange rate system has experienced five stages:
1.1949-1952, the RMB exchange rate to determine phase.
RMB foreign exchange rate system, initially in January 18, 1949 in tianjin, after arriving in major ports and cities on July 8, 1950 the national unification the RMB exchange rate.
2.1953 1973, stage of fixed exchange rates.
Our country executes after 1953 economic plan, prices long-term stability, bretton woods monetary system internationally, major international currency exchange rate stability.
3.1973-1993, the renminbi exchange rate.
As the collapse of the bretton woods system in the 70 s, countries generally has a floating currency, the renminbi exchange rate also reference to foreign exchange rates, and USES the peg to a basket of currencies, "the way to adjust.
4.1994 2005, implement market exchange rates.
?
Since January 1994, the RMB exchange rate system. The official exchange rate and the market exchange rate system. According to the foreign exchange market supply and demand the floating of RMB exchange rate, monetary authorities through the foreign currency market buying and selling foreign exchange currency intervention. Single, was formed in this way, the RMB exchange rate based on market supply and demand, a managed floating exchange rate formation mechanism, thus basically realized the transition from the official exchange rate to the market exchange rate.
5.2005.7.21 - now, we will further improve the market exchange rate formation mechanism.
Since July 21, 2005, our country begins to implement based on market supply and demand, reference to a basket of currencies, managed floating exchange rate system. The RMB exchange rate no longer pegged to the dollar, has formed a more flexible yuan
From the point of the reform process of the RMB exchange rate system, similar to the RMB interest rate marketization process, at the same time, the marketization of exchange rate is also one of the important content of financial deepening. Exchange rate is one of the important factors that affect interest rates. At the same time, the international financial market fast changing is closely related to the change of the domestic financial market, exchange rate changes lead to international capital flows, by influencing the money supply relationship in our country, which affects our country currency rates.
Interest rate marketization reform in our country has experienced the following four main steps:
1.1996 years of interbank lending rates. Set up the China interbank Offered Rate (China Intel - bank Offered Rate, CHIBOR)
2.1997 open bond market interest rates
3.2004 in the loan interest rate lower limit tube, the tube cap on deposit interest rates ".
4.2007 years