Moody’s says outlook for lenders is stable as economic growth continues
　　China’s banks made a net profit of 899.1 billion yuan ($137 billion) last year, up 34.5 percent from a year earlier, the fastest pace in three years, the China Banking Regulatory Commission (CBRC) said in a report released on Tuesday. Net interest margin contributed 66 percent to the profit, up by 3 percentage points from 2009, followed by gains from investment, which contributed 21 percent. Net income from fees and commissions accounted for 12 percent of the total profit, it said.
　　"The net interest margin will probably contribute more to the total profit in 2011 on interest rate rises," said Lian Ping, chief economist at the Bank of Communications.
　　He said the rise in the contribution of the net interest margin wouldn’t affect the banks’ resolve to tap other businesses as the scale of credit shrinks because of the current tightening monetary policies, and profit growth rate this year would still be somewhere above 20 percent.
　　At the end of 2010, Chinese banks had total assets of 95.3 trillion yuan, a year-on-year increase of 19.9 percent.
　　Liabilities rose by 19.2 percent from a year earlier to 89.5 trillion yuan, said the report.
　　Moody’s Investors Service said earlier in a report that the outlook for China’s banking system is stable for the next 12 to 18 months, based on the view that the domestic economy will remain strong and provide banks with ongoing opportunities to generate strong earnings.
　　The key credit issue facing the Chinese banking system is the extent to which credit expansion can slow to a sustainable level that checks inflationary pressures, while simultaneously accommodating the government’s 7 to 8 percent real GDP growth target during 2011-2015, it said.
　　"We expect a rise in bank’s non-performing loans (NPLs), which typically follow in the wake of very strong loan growth.
　　Robust earnings, significant loan loss reserves, and additional capital raised from the capital markets will help the banks to tackle challenges in asset quality and to continue growing their balance sheets," said Yvonne Zhang, a Moody’s vice-president and senior analyst.
　　Zhang added that one of the unique features of the Chinese banking system is that it serves as a principal channel for executing monetary and fiscal policy. "Credit growth tends to be counter-cyclical - rising strongly when economic activity is slowing, and moderating once economic growth has recovered."
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　　Moody 摩迪国际集团(MOODY INTERNATIONAL GROUP),全球最大的管理与技术服务机构
　　net profit.
　　净利润
　　net a.remaining after all deductions have been made, as for expenses:
　　纯的：扣除所有开支后剩下的，如开销
　　outlook n.expectation for the future展望：前景
　　例：the long-term outlook for economic growth.
　　经济发展的长期展望
　　margin n.the difference between the cost and the selling price of securities or commodities.
　　盈余：证券或商品的成本与销售价之间的差额
　　contribute v.to help bring about a result; act as a
　　factor贡献：为造成某一结果而作出贡献；促成…的因素
　　gain n. the act of acquiring; attainment获得：获得某物的行为；得到
　　an increase in amount or degree增加：总额或程度的增加
　　例：a gain in operating income.
　　营业收入增加
　　account for v. 说明, 占……
　　resolve n.firmness of purpose; resolution决心：目标的坚定性；坚决
　　tap v.开发
　　shrink vi.to become reduced in amount or value;
　　dwindle缩小：在数量或价值方面变低；减小：
　　例：His savings quickly shrank.
　　他的存款急剧减少
　　ongoing a. currently taking place进行中的：现在正在发生的：
　　accommodate vt. to provide for; supply with提供；供应
　　check vt.the condition of being stopped or held back;
　　restraint抑制：被中断或阻止的状态；克制
　　non-performing loans (NPLs)不良贷款
　　in the wake of adv. 尾随, 紧跟, 仿效
　　robust a.full of health and strength; vigorous健康和有力的；精力充沛的
　　tackle vt.to take on and wrestle with (an opponent or a
　　problem, for example)着手处理：接受（比如一名对手或一个问题）的挑战并与之拼搏
　　moderate vi.to become less violent, severe, or extreme;
　　abate变缓和：变得较不激烈、不剧烈或不极端；缓和

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