BEIJING， Aug. 18 （Xinhua） —— The People's Bank of China （PBOC）announced on Friday that it will raise the one-year benchmark interest rates by 27 basis points from August 19.
The one-year deposit rate is raised to 2.52 percent and the one-year loan rate to 6.12 percent， according to PBOC， or the central bank.
摘要： 中國人民銀行決定，自2006年8月19日起上調(diào)金融機構(gòu)人民幣存貸款基準利率。金融機構(gòu)一年期存款基準利率上調(diào)0.27個百分點。
The central bank raised the loan rates by the same margin in late April but did not change the deposit rates.
China's economy surged by 10.9 percent in the first half of 2006， the fastest in a decade， driven by fast credit loans growth and excessive use of land for industrial projects.
The central bank raised commercial banks' deposit reserve ratio earlier this week by 0.5 percent to rein in excessive bank lending.
To allow market forces a bigger role in deciding the interest rate for housing mortgage loans， the central bank decided to lower the bottom line of housing mortgage loans from 0.9 times the benchmark interest rate to 0.85 times.
For other commercial loans， the bottom line will remain 0.9 times the benchmark rate.
Raising the interest rate will help rationalize the growth of investment and loans， force businesses and financial institutions of properly assess risks， maintain price stability and promote the change of the country's growth model， a spokesperson from the central bank said.
China's urban fixed asset investment soared by 30.5 percent in the first seven months， up 3.3 percent on the previous year， driving the economy to the verge of overheating.
Preventing the economy overheating has become the priority of China's economic planners in recent months.
To rein in the investment， the government has， in addition to raising the interest rate and deposit reserve of banks， launched a nationwide crackdown on irregularities in land supply and project approvals.
注釋：benchmark：n. 基準
deposit：n. 存款
surge：v. 澎湃
mortgage：n. 抵押
rationalize：v. 合理化
verge：v. 瀕臨
crackdown：n. 壓迫
The one-year deposit rate is raised to 2.52 percent and the one-year loan rate to 6.12 percent， according to PBOC， or the central bank.
摘要： 中國人民銀行決定，自2006年8月19日起上調(diào)金融機構(gòu)人民幣存貸款基準利率。金融機構(gòu)一年期存款基準利率上調(diào)0.27個百分點。
The central bank raised the loan rates by the same margin in late April but did not change the deposit rates.
China's economy surged by 10.9 percent in the first half of 2006， the fastest in a decade， driven by fast credit loans growth and excessive use of land for industrial projects.
The central bank raised commercial banks' deposit reserve ratio earlier this week by 0.5 percent to rein in excessive bank lending.
To allow market forces a bigger role in deciding the interest rate for housing mortgage loans， the central bank decided to lower the bottom line of housing mortgage loans from 0.9 times the benchmark interest rate to 0.85 times.
For other commercial loans， the bottom line will remain 0.9 times the benchmark rate.
Raising the interest rate will help rationalize the growth of investment and loans， force businesses and financial institutions of properly assess risks， maintain price stability and promote the change of the country's growth model， a spokesperson from the central bank said.
China's urban fixed asset investment soared by 30.5 percent in the first seven months， up 3.3 percent on the previous year， driving the economy to the verge of overheating.
Preventing the economy overheating has become the priority of China's economic planners in recent months.
To rein in the investment， the government has， in addition to raising the interest rate and deposit reserve of banks， launched a nationwide crackdown on irregularities in land supply and project approvals.
注釋：benchmark：n. 基準
deposit：n. 存款
surge：v. 澎湃
mortgage：n. 抵押
rationalize：v. 合理化
verge：v. 瀕臨
crackdown：n. 壓迫