中国放松煤矿工作日限制

 　　China’s top planning body has relaxed working day restrictions¹ on its coal mines after reduced output boosted prices, frustrating² central planners’ desire to control both price and supply of the nation’s most important energy source.

　　中国最高规划机构放松了对煤矿工作日的限制，此前产量下降提升了价格，让中央规划者同时控制煤炭价格和供应的愿望落空。煤炭是中国最重要的能源来源。

　　China’s National Development and Reform Commission said on Thursday that all mines could produce for 330 days each year, after last week extending a production band of 276-330 days through the end of March.

　　中国发改委(NDRC)周四表示，所有煤矿每年可按330个工作日组织生产，此前它在上周延长限产措施，规定煤矿在明年3月底前可以在276天至330天的工作日之间组织生产。

　　Mines had been regulated on how many days they could operate, within the band.

　　煤矿的工作日数量受到监管，不得超出这个区间。

　　The relaxation³ came after output statistics for October showed Chinese coal production had dropped 11 per cent in the first 10 months of 2016 versus⁴ the same period the year before.

　　在发改委放松限制之前，10月产量统计数据显示，2016年头10个月，中国煤炭产量同比下降11%。

　　On a daily basis, output in October was down 1.5 per cent from September.

　　10月日产量环比下降1.5%。

　　The relaxation is likely to hit frothy thermal⁵ coal prices, Fitch Ratings said in a note on Thursday: The strong pricing rebound⁶ since early 2016 is unlikely to be sustained as the Chinese government relaxes its working-day curtailment⁷ policies to manage prices.

　　放松工作日限制可能冲击存在泡沫的热能煤价格，惠誉评级(Fitch Ratings)周四在一份报告中表示：随着中国政府放松工作日限制以管理煤价，2016年年初以来强劲的价格反弹不太可能持续。

　　A prolonged slump⁸ in coal prices has allowed the Chinese state to re-exert control over a sector⁹ that was known for its private capital and ungovernable private mines when the Chinese economy was booming.

　　煤价持续低迷使中国政府得以恢复控制该行业。在中国经济蓬勃发展之际，私人资本大量进入煤炭业，涌现出难以控制的私营煤矿。

　　Many indebted private mines have shut or been absorbed by large state-owned mining companies, leaving Beijing wrestling with a re-nationalised industry in an economy that is more complex than during the heyday¹⁰ of state planning.

　　许多负债累累的私营煤矿已被关闭，或者被大型国有煤矿公司合并，这使得北京方面不得不应对一个重新国有化的行业，而当今的中国经济比计划经济全盛时期更为复杂。

　　Output restrictions on thermal coal had been intended to bolster¹¹ prices and allow China’s chronically¹² bloated state coal miners to repay loans.

　　中国限制热能煤产量的本意是提升价格，并让长期臃肿的国有煤矿偿还贷款。

　　But planners failed to account for the degree to which private miners had also dropped out of the market, and were caught off-guard when investors¹³ profited by the squeeze to drive up futures¹⁴ prices of coking coal, used in steelmaking.

　　但规划机构未能考虑到私营煤矿也大量退出市场，同时没有预料到投资者会利用供应紧张获利，推高焦煤期货价格；焦煤用于炼钢。

　　Coal futures are up roughly 200 per cent year-on-year, even after a sell-off this week as futures exchanges imposed measures to deter¹⁵ speculation¹⁶.

　　煤炭期货同比上涨约200%，这还是在本周因期货交易所采取抑制投机措施而暴跌之后。

　　As recently as November 11 the NDRC had maintained it would stick with the band of working day output restrictions.

　　就在11月11日，中国发改委还坚称要严格执行工作日生产限制措施。

　　The increasing price of coal will not dampen the determination to cut coal capacity, its vice-secretary said at the time.

　　其副主任当时表示：煤价上涨不会打击我们去煤炭产能的决心。

　　The NRDC has also strong-armed state-owned miners to sign supply agreements with state-owned power plants at below-market prices in an attempt to persuade traders that prices have risen too much.

　　中国发改委还要求国有煤矿以低于市场的价格与国有发电厂签订供应合同，此举旨在让交易者相信，煤价涨得太高了。

　　Power plant supply agreements that were set too low was one of the factors that deterred¹⁷ state coal mines from expanding two decades ago, opening the door for private entrepreneurs to capitalise on strong spot demand for coal as economic growth took off.

　　价格过低的电厂供应合同是20年前阻止国有煤矿扩张的因素之一，随着经济开始腾飞，这为私营企业利用强劲的现货需求进入煤炭业打开了大门。

1 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

2 frustrating   

adj.产生挫折的，使人沮丧的，令人泄气的v.使不成功( frustrate的现在分词 )；挫败；使受挫折；令人沮丧

参考例句：

• It's frustrating to have to wait so long. 要等这么长时间，真令人懊恼。
• It was a demeaning and ultimately frustrating experience. 那是一次有失颜面并且令人沮丧至极的经历。 来自《简明英汉词典》

3 relaxation   

n.松弛，放松；休息；消遣；娱乐

参考例句：

• The minister has consistently opposed any relaxation in the law.部长一向反对法律上的任何放宽。
• She listens to classical music for relaxation.她听古典音乐放松。

4 versus   

prep.以…为对手，对；与…相比之下

参考例句：

• The big match tonight is England versus Spain.今晚的大赛是英格兰对西班牙。
• The most exciting game was Harvard versus Yale.最富紧张刺激的球赛是哈佛队对耶鲁队。

5 thermal   

adj.热的，由热造成的；保暖的

参考例句：

• They will build another thermal power station.他们要另外建一座热能发电站。
• Volcanic activity has created thermal springs and boiling mud pools.火山活动产生了温泉和沸腾的泥浆池。

6 rebound   

v.弹回；n.弹回，跳回

参考例句：

• The vibrations accompanying the rebound are the earth quake.伴随这种回弹的振动就是地震。
• Our evil example will rebound upon ourselves.我们的坏榜样会回到我们自己头上的。

7 curtailment   

n.缩减，缩短

参考例句：

• The usage based allocation method and the curtailment based allocation method are discuss. 在责任分摊法中，阐述了使用程度分摊法和裁减量分摊法。 来自互联网
• In transaction curtailment study, different transaction curtailment models using different types of curtailment objectives. 在交易裁减的研究中，不同的交易裁减模型采用了不同类型的裁减目标。 来自互联网

8 slump   

n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌

参考例句：

• She is in a slump in her career.她处在事业的低谷。
• Economists are forecasting a slump.经济学家们预言将发生经济衰退。

9 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

10 heyday   

n.全盛时期，青春期

参考例句：

• The 19th century was the heyday of steam railways.19世纪是蒸汽机车鼎盛的时代。
• She was a great singer in her heyday.她在自己的黄金时代是个了不起的歌唱家。

11 bolster   

n.枕垫；v.支持，鼓励

参考例句：

• The high interest rates helped to bolster up the economy.高利率使经济更稳健。
• He tried to bolster up their morale.他尽力鼓舞他们的士气。

12 chronically   

ad.长期地

参考例句：

• Similarly, any pigment nevus that is chronically irritated should be excised. 同样，凡是经常受慢性刺激的各种色素痣切勿予以切除。
• People chronically exposed to chlorine develop some degree of tolerance. 人长期接触氯气可以产生某种程度的耐受性。

13 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

14 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

15 deter   

vt.阻止，使不敢，吓住

参考例句：

• Failure did not deter us from trying it again.失败并没有能阻挡我们再次进行试验。
• Dogs can deter unwelcome intruders.狗能够阻拦不受欢迎的闯入者。

16 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

17 deterred   

v.阻止，制止( deter的过去式和过去分词 )

参考例句：

• I told him I wasn't interested, but he wasn't deterred. 我已告诉他我不感兴趣，可他却不罢休。
• Jeremy was not deterred by this criticism. 杰里米没有因这一批评而却步。 来自辞典例句