OVERALL EConOMIC PERFORMANCE IN 1999
GDP China's GDP grew slightly more than 7 percent in 1999, thanks only to the government's ongoing1 stimulus2 program. With other Asian countries recovering, China's probable WTO accession this year, and a new drive to boost the private sector3, however, both the Chinese government and outside analysts5 predict slightly stronger growth-around 7.5 percent-in 2000.
Investment Investment in fixed6 assets rose 7.8 percent in 1999, and is expected to increase by another 7.8 percent in 2000. Much of the investment came from the government's stimulus plan.
Prices Consumer and retail7 prices fell throughout 1999. Overcapacity in many industries was chiefly responsible for the 27-month deflation, but slack demand caused by consumer worry about job security and education and health cosplayts also played a role. Many economists8 believe that the worst is past, and that deflation will wane9 in 2000.
Notes
performance n.something performed; an accomplishment完成的事；收获
GDP:gross domestic product国内生产总值
thanks n.（与to连用） 因为；多亏
例：It was thanks to John that we won the game.
多亏约翰，大家才赢了这场比赛。
ongoing stimulus program持续持续的刺激计划（手段）
ongoing adj.currently taking place进行中的：目前正在发生的
stimulus n.促进原因, 刺激
program n.程序, 纲要, 计划
WTO:world trade organization世界贸易组织
accession n.access; admittance进入；接收
drive n.energy, push, or aggressiveness干劲、冲动或攻击性
boost vt.to assist in further development or progress刺激增长：辅助长远的进步和进步
例：a bill intended to boost local charities.
一项意在刺激地方慈善事业增长的议案
private sector:non-state sector非国有部门，私营部门
analyst4 n.剖析家
predict vt.to state, tell about, or make known in advance, especially on the basis of special knowledge预测，预测，预告
investment n.投资
fixed assets固定资产（如厂房、机器设施等）
retail price零价格格
overcapacity n.too great a capacity for production of commodities or delivery of services in relation to actual need生产能力过剩：与实质需要相比，过大的生产工业产品能力或过多的服务
例：the problem of overcapacity in many large industries.
很多大型工业存在着生产能力过剩的问题
deflation n.[Economics] a persistent11 decrease in the level of consumer prices or a persistent increase in the purchasing power of money because of a reduction in available currency and credit通货紧缩：因为可获得货币和信贷的降低，致使消费品价格水平的持续降低或货币购买力的持续提升
slack demand需要不旺盛
slack a.lacking in activity; not busy清淡的：缺少活力的；不忙碌的
例：a slack season for the travel business.
旅游业的淡季
job security就业保障
security n.安全；保障
wane vi.亏缺, 衰落
Monetary12 policy China's impressive money-supply growth rates continued in 1999. Deflation-fighting efforts included the issuance of more than *200 billion in new currency last year; the institution in November of a tax on inpidual savings13 deposits; and another round of interest rate cuts. The government also increased its reliance on open-market operations in 1999, after suspending operations through mid-1998. This could be the year Beijing further relaxes its control over loan interest rates.
monetary policy货币政策
money-supply货币供给
deflation-fighting反通货紧缩
issuance n.发行
institution of a tax on inpidual savings deposits对个人储蓄存款征税规范
cut vi.to reduce the size, extent, or duration of; curtail14 or shorten削减：降低的尺寸、范围或持续时间；截短或缩短
例：cut a payroll15; cut a budget; cut the cooking time in half.
削减职员数；削减预算；把做饭时间缩短一半
reliance on open-market operations依靠公开市场操作
suspending operations公开市场操作中止
suspend vi.to cause to sTOP for a period; interrupt暂行一段时期；中断
relax vt.使松驰，缓和
financial reforms金融改革
high-profile moves全方位的调控手段
move n.to attempt to seize control of控制：想要学会控制权
asset-management company资产管理公司
