退貨信貸 的英文怎麼說
中文拼音 [tuìhuòxìndài]
退貨信貸
英文
credit for returned goods-
After 1989, the increase of demand slowed down and facing the complexion of low degree of industrial concentration of product market and financial strain of medi um and small - sized enterprises caused by the circulating trap of " credit squeeze - - - bad loan ", the advantageous enterprises " " wallow in money ", specifically, those listed companies that could finance from the stock market, began to take predatory pricing strategy in succession and tried to enlarge market share and obtain high return by squeezing medium and small - sized enterprises out of the market after 1998, the vicious circle of deflation and " credit grudging " of banks in product and credit markets, overcapacity, the difficulty of retreating of loss - incurring enterprises in some industries from the market for institutional reasons and over - competition in some industries, led to the incessant decrease of enterprises " global income, persistent increase of rate of debts and constant rise of ratio of bad assets of banks, which further intensified the vicious circle of deflation and " credit grudging " of banks
如在改革開放初期，在產品市場需求旺盛和信貸市場預算軟約束的情況下，各類企業的最優決策就是採用高負債、高擴張的「負債的有限責任效應」策略來搶占市場並獲得高回報； 1989年以後，需求增速開始放緩，面臨產品市場產業集中度較低和信貸市場「信貸緊縮-不良貸款」循環陷阱導致的中小企業資金緊張的局面， 「錢袋鼓鼓」的優勢企業（尤其是那些可以通過股票市場融通資金的上市公司）紛紛採用掠奪性定價策略，試圖通過把中小企業擠出市場來擴大市場份額並獲得高收益； 1998年以後，產品市場和信貸市場形成了通貨緊縮和銀行「惜貸」惡性循環的狀況。產品市場上部分行業生產能力嚴重過剩，且由於體制等原因導致虧損企業無法退出，因此這些行業中出現了過度競爭的現象，企業總體收益的不斷下滑、負債率不斷提高以及銀行不良資產率的持續上升，又進一步加強了通貨緊縮和銀行「惜貸」的惡性循環。The causes are as follows : financial institutions do not pay enough attention to county economies in transforming their operating mechanism ; reforms of financial control system lags behind, resulting in impeded transmission of the central bank ' s monetary policy in county economies ; the deterioration of the credit function of state - owned commercial banks seriously weakens their support for county economic development ; the impact of the state industrial policy ; limitations of the qualifications of financial firms ; and weak social credit climate in county economies
形成原因主要有金融機構經營方式轉化上對縣域經濟重視不夠；金融管理體制改革滯后，導致央行貨幣政策在縣域傳導不暢；國有商業銀行信貸功能退化，嚴重削弱了對縣域經濟發展的支持力度；國家產業政策的影響，金融企業本身素質限制以及縣域社會信用環境差等。
分享友人