英语翻译China says it will sell $880 million worth of yuan-denom

英语翻译
China says it will sell $880 million worth of yuan-denominated bonds in Hong Kong,in what analysts say is a first step toward widening the use of the currency outside the country.
Starting September 28,investors in Hong Kong will be able to buy bonds issued by the Chinese government.It marks the first time that the Chinese government is borrowing money offshore and paying it back in its own currency.
The Chinese finance ministry says the bond is meant to encourage acceptance of the yuan in international transactions and to encourage Chinese companies to tap the territory's debt market.
Kevin Lai,an economist at the Daiwa Institute of Research in Hong Kong,says it is a step toward gradually widening the use of the yuan,or renminbi,outside China.Currently,the currency cannot be traded freely outside the country,and its exchange rate is restricted to a narrow trading band.
"The next step will be to increase renminbi liquidity regionally,and in the end a step toward internationalizing the renminbi….The renminbi has to be fully convertible at some stage," Lai explained."Building a bond center,or increase bond issuances for renminbi is just one of those steps."
China's step to internationalize the yuan comes after recent comments from Chinese officials calling for a global alternative to the weakened U.S.dollar as a reserve currency.As a way to diversify its debt holdings,Beijing said earlier this month that it will buy $50 billion worth of bonds issued by the International Monetary Fund denominated in special drawing rights - a unit that is based on a basket of currencies.
China is the United States' biggest creditor and holds hundreds of billions of dollars of U.S.bonds.The dollar's weakness because of the global financial crisis has angered Beijing,because it undermines the value of China's holdings.
But the yuan's exchange rate has long been a sore point between Beijing and Washington,as well as China's other trading partners.They accuse China of maintaining an unfair trading advantage by setting its currency's value too low,making Chinese exports artificially cheap.
Once pegged to the U.S.dollar,the yuan has been allowed to slightly appreciate since 2005.But the U.S.says the yuan's value should be determined by market forces.
Beijing had indicated in the past that Hong Kong will be a center for offshore yuan trading.Five state-owned Chinese banks,including Bank of China and China Construction Bank,have issued yuan bonds in Hong Kong since 2007,when the government began allowing such deals.HSBC,Hong Kong's biggest bank,this year became the first foreign bank to issue yuan-denominated bonds.

中国表示,将出售在说什么分析师8.8亿美元在香港,人民币计价的债券的价值是朝着扩大货币以外的国家使用的第一步.
9月28日起,香港的投资者可以购买我国政府发行的债券.它标志着我国第一次政府借钱支付境外和本国货币回来.
在中国财政部表示,债券是为了鼓励在国际交易中人民币的接受,并鼓励中国企业进军香港的债务市场.
凯文赖,一个在大和研究所的研究在香港经济学家说,这是朝着逐步扩大,人民币,人民币或中国以外的使用步骤.目前,货币不能自由买卖以外的国家,其汇率限制在狭窄的波动区间.
“下一步将是增加人民币的流动性区域,并在结束对人民币国际化.人民币,必须在某个阶段完全可兑换的一步,”赖声川解释.“建设债券中心,或增加发行人民币债券,只是这些步骤之一.”
中国的人民币国际化的步骤之前,从全球替代呼吁削弱美元作为储备货币的中国官员最近的评论.以此来分散其持有的债务,北京本月早些时候表示,将购买500亿美元的国际货币的特别提款权计价的基金 - 这是一篮子货币单位发行的债券的价值.
中国是美国的最大债权国,持有美国债券的数千亿美元.美元是因为全球金融危机的疲软也激怒了北京,因为它损害了中国外汇储备的价值.
但人民币汇率长期以来一直是北京和华盛顿之间痛点,以及中国的其他贸易伙伴.他们指责通过设置保持其货币的价值过低,使得中国出口产品人为低价不公平的贸易优势,中国.
一旦盯住美元,人民币被允许自2005年以来略有升值.但是美国说,人民币的价值应该由市场力量决定.
北京曾表示,在过去,香港将成为离岸人民币交易中心.五大国有银行中,包括中国建设银行和中国银行已在香港发行人民币债券2007年以来,当政府开始允许这样的交易.汇丰银行,香港最大的银行,今年成为第一家外资银行发行人民币计价的债券.