福山:我们此前一直在交谈,直到谈到刚刚你提及的那类自由化问题,当然,这是指修正人民币的价值,此时我们的脸色都有点难堪。
Fukuyama: we've been talking until we're blue in the face about the kind of liberalization you've just mentioned, and of course about revising the value of the renminbi.
与此同时,如果人民币升值,外汇储备的价值就会应声而落。
The value of foreign exchange reserves, meanwhile, will fall if and when the renminbi goes up.
在此次访问之前,有越来越多的市场参与者正在认为,人民币的价值将在今后六个月内不断攀升。
This visit comes as market actors are increasingly pricing in a renewed gradual appreciation of the RMB over the next six months.
在其他条件不变的情况下,这意味着对人民币的需求增加了,从而抬高了人民币对美元的价值。
All other things being equal, that should mean that demand for yuan rises, driving up the value of yuan relative to dollars.
人民币价值重估是其中之一。
通过两年多的反反复复,本星期双方达成协议。这对夫妇除得到房产外,还有比原来旧房子价值更多的人民币。
After more than two years of wrangling, an agreement was reached this week, giving the couple property and cash worth more in total than their old house.
在我看来,人民币价值并未高估。
中方依然保持人民币低于其市场价值的25% ~ 30%。
It is still holding the renminbi at about 25 or 30 percent below its probable market value.
华盛顿方面对于人民币价值如此重视的行为是可以理解的。
Washington's emphasis on the yuan's value is understandable.
对人民币价值偏低率的估计被定在了15- 40%之间,所提出的这一严谨而精确地数字则取了一个中间值。
This curiously precise figure was the midpoint of a range of estimates (15-40%) of the yuan's undervaluation.
在河南许昌,一套价值人民币14万元的公寓,每月租金是950元。
In Xuchang, of Henan Province, a condo worth Rmb140,000 costs Rmb950 to rent per month.
因此,分析家也没有预测出人民币对美元的价值会有大的变动。
Analysts as a result are not predicting a major change in the yuan's value against the dollar. Here's what BofA Merrill Lynch predicts.
我们的指数表明公允价值率为1美元等于3.54人民币,相比之下目前的汇率为6.78。
Our index suggests that a fair-value rate would be 3.54 yuan to the dollar, compared with the current rate of 6.78.
在从一个邻居那儿得知有关智库教育的信息以后,李曼红夫妇同智库教育签订了一份价值9万人民币的合同,合同中选定了9所美国大学。
After learning about ThinkTank from a neighbor, Ms. Li persuaded her husband to sign a contract for 90,000 renminbi, which focuses on nine selective U.S. schools.
在从一个邻居那儿得知有关智库教育的信息以后,李曼红夫妇同智库教育签订了一份价值9万人民币的合同,合同中选定了9所美国大学。
After learning about ThinkTank from a neighbor, Ms. Li persuaded her husband to sign a contract for 90,000 renminbi, which focuses on nine selective U. s. schools.
这个17岁的小伙子和他的朋友一起偷了108部传呼机,价值超过两万人民币(相当于美金2418元)。
The 17-year-old stole 108 pagers with his friends, making more than 20,000 yuan (US$2,418).
鉴于其大部分成本以人民币计价,这意味着安踏的现金资产价值正稳步受到侵蚀。
As the majority of its costs were in renminbi, this meant that the value of Anta's cash pile was steadily being eroded.
他们也谈论房地产市场,其别墅在当今房市价值人民币几十个亿。
They also talk about the property market, exchanging how much, in tens of millions of yuan, their villas cost now.
按照这种数据先前作出的估计,人民币低于其实际价值的40%。
Previous assessments of such data had found that the yuan was around 40% undervalued.
2005年,莫里斯·金斯登和尼古拉斯·拉蒂计算的结果是人民币低于其应有价值的20- 25%,人民币自那以后开始升值,然而,顺差却加倍了。
In 2005 Messrs Goldstein and Lardy reckoned that the yuan was 20-25% undervalued; it has since risen by that, yet the surplus has doubled.
首先,尽管如果人民币被低估了25%,并且如果真实价值每年升值8- 9%,我们不能得出结论说在三年中,人民币将纠正其价值。
In the first place, even if the RMB is undervalued by 25%, and if it is appreciating by 8-9% a year in real terms, we can't conclude therefore that in three years the RMB will be correctly valued.
我想大家注意到了我在这一部分中没有提到人民币的价值问题。
Notice that I didn't mention the value of the renminbi at all in this account.
摩根·斯坦利只用了4个模型来评估人民币的公平价值,其中间估值显示人民币相对于美元的低估水平只有1%——这可不是国会想要的答案。
Morgan Stanley USES only four models to estimate the yuan's fair value, of which the median valuation suggests it is only 1% undervalued against the dollar-not the answer Congress wants.
摩根·斯坦利只用了4个模型来评估人民币的公平价值,其中间估值显示人民币相对于美元的低估水平只有1%——这可不是国会想要的答案。
Morgan Stanley USES only four models to estimate the yuan's fair value, of which the median valuation suggests it is only 1% undervalued against the dollar-not the answer Congress wants.
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