跪求高手，帮我将下面一段文字汉译英！感激不尽！我百度知道财富值太低了！给不了悬赏！

Question

麻烦商量的大虾们帮帮忙吧！文字如下：
3 建立完善我国地方政府债券发行制度
3.1 完善地方政府债券发行相关的立法及其执法约束
首先必须修改《预算法》第二十八条禁止地方政府举债的条款,以及《担保法》和《破产法》的相关规定内容;其次,要制定《地方政府债券管理办法》,对地方债券的发行、交易、结算、信息披露、资金使用用途、资金使用约束、偿还安排、信用评级、资产抵押和偿还危机等做出全面系统的安排;最后,地方债的发行、交易、结算和信息披露等内容应纳入《证券法》的管理约束范畴。
3.2 强化政府行政监管,建立完善的硬约束机制
首先,地方政府债券的审批权应属于中央政府,中央可以成立地方政府债券审核委员会作为地方政府债券发行审批机构,行政上隶属于国家财政部。地方政府发债的规模除考虑地方需要外,还必须纳入政府举债整体规模预算和国家整体投资规模预算之中;其次,要建立科学测算地方政府发债规模和偿债能力的方法,保持地方政府债券规模与财政收支规模的合理配比,以防地方政府出现债务危机;再次,要明确地方政府债券资金用途,只能用于地方基础设施建设和公用事业发展;最后,明确地方政府责任人并加强地方人大监督。为避免地方政府通过发行地方政府债券搞政绩工程或挪用地方政府债券资金,必须明确地方政府领导人对债券资金使用的责任,而且一旦出现问题这种责任不因领导人个人的职位变动而解除。同时,地方人大要加强对当地政府发债行为的监督,地方政府发债必须经地方人大批准。
3.3 建立地方债券风险防范机制
首先,地方政府发行债券应建立地方居民监督机制。这不仅使债务资金使用透明,而且还使地方居民参与决策,确保债务资金用途符合地方居民需要,因此债务资金建设项目要向社会公布,让地方居民能充分发表意见和建议;其次,要建立地方政府债券信息披露制度。这对地方政府债券的安全运行起到积极的约束作用,它不仅可以约束政府的非理性发债行为,还是中央政府宏观调控的依据和发挥地方居民监督作用的前提。地方政府在发行债券时,必须按规定将债券发行情况及其财务经营状况等向社会公布,其信息披露内容除政府财政收支信息、建设项目本身信息外,债券的批文、规模、用途、期限、利率、偿还保证、发行程序、风险提示等也应及时公布;最后,要建立偿债基金和地方政府债券投资者保护基金,完善地方政府债券违约清偿及政府破产制度。
3.4 进一步深化财政体制改革,确立地方政府相对独立财权
1994年的分税制改革进一步加剧了地方政府事权与财权的不对称,而地方政府事权与财权的对称是地方政府举债核心的法理基础。应根据地方政府所承担的职责的特性来构造地方财权,地方财权应由税权、费权与债权三部分构成。因此,中央政府首先要完善地方税收体系,丰富和增加地方税收税种,切实改变地方缺乏主体税种,收入不足的现状,并适当赋予地方一定的税收立法权,使地方政府发行地方债券具有更加可靠的收入保障;其次,进一步完善政府间转移支付制度,加强和规范专项转移支付制度,完善资金分配办法,监督资金使用,实现政府间财政关系的法制化。最后,中央政府还应允许各地方政府的产权进入市场交易的环节,以解决地方财政困难,保证地方政府发债不会底气不足。
从2009年我国地方政府债券发行情况来看,并不令人乐观,特别是安徽省债券首日还出现“零认购”现象,这说明在我国地方政府债券发行还是一个新生事物,投资者接受应有较长的一个过程,地方政府债券的发行是一项复杂的改革工程,应该在完成严密的制度设计之后再行推开。

Answer 1

　　3 establish a sound system of local government bond issuance
　　3.1 improve the local government bond issuance and enforcement of legislation related to constraints
　　Must first modify the "Budget Law" the second eighteen provisions prohibiting local government borrowing, and the "security law" and "Bankruptcy Law" the relevant provisions of the content; Second, to develop "local government bond management measures," the issuance of local bonds , trading, settlement, information disclosure, the intended use of funds, funds constraints, reimbursement arrangements, credit rating, asset-backed and debt crisis to make a comprehensive and systematic arrangement; Finally, the local debt issuance, trading, settlement and information disclosure, etc. should be included in the "Securities Act" management constraint areas.
　　3.2 Strengthen the administrative supervision, establish a sound mechanism for hard constraints
　　First of all, the right of local government bonds should belong to the Central Government for approval, the Central Local Government bonds can be formed Audit Committee for approval as a local government bond issuance, the executive subordinate to the Ministry of Finance. In addition to the size of the local government bond issues to consider local needs, but also must be included in the overall size of government borrowing, the overall investment budget and the scale of national budgets; Second, local governments issue bonds to establish a scientific calculation method of the size and solvency, to keep local government bond size and the size of a reasonable proportion of the revenue and expenditure, to prevent the debt crisis of the local government; again, local government bonds to fund specific purposes, only for local infrastructure and utility development; Finally, the clear responsibility of local governments who and the strengthening of local supervision by the NPC. To prevent local governments through the issuance of vanity projects out of local government bonds Local government bonds or misappropriation of funds, local government leaders must be clear with the responsibility of bond funds, and this responsibility should any problems arise not because of changes in leadership positions of individuals removed. Meanwhile, the local people's congresses should strengthen the supervision of local government bonds act, local governments issue bonds must be approved by the local People's Congress for approval.
　　3.3 The establishment of risk prevention mechanism of local bonds
　　First, local governments issue bonds monitoring mechanism should be established to local residents. This not only makes clear the debt funds, but also enable local residents to participate in decision-making, to ensure consistent use of debt capital needs of local residents, so debt capital construction projects must be made public so that local residents can fully express their views and recommendations; Second, to build local information disclosure system of government bonds. This is the safe operation of local government bonds play an active role in the constraints, it can not only bind the Government bonds of non-rational behavior, or the central government to play a macro basis and premise of the supervisory role of the local residents. When local governments issue bonds to be issued by the provisions of the bond status and its financial operations to the public, the information disclosed in addition to government revenue and expenditure information, building information on the project itself, the bond approval, scale use, the term , interest rates, the repayment, release procedures, risk disclosure, should also be timely disclosure; Finally, to establish a sinking fund and local government bond investors protection fund, and improve local government settlement and government debt default bankruptcy system.
　　3.4 to further deepen financial reform, to establish the relative independence of local government financial authority
　　Reform the tax system in 1994 further exacerbated the financial authority of local government powers and asymmetric, and local government powers and financial authority of local symmetry of the core legal basis for government borrowing. Local government should be based on the characteristics of responsibilities to construct the local property rights, the right of local property rights should be taxes, fees and claims the right of three parts. Therefore, the central government should first improve the local tax system, the rich and increase local tax revenue taxes, to effectively change the local lack of the main taxes, income less than the status quo, and the appropriate legislative powers given to certain tax areas, allowing local governments to issue local bonds with a more reliable income security; Second, to further improve the intergovernmental transfer system, strengthen and standardize the special transfer payment system, improve the allocation of funds, monitoring the use of funds, intergovernmental fiscal relations to achieve the legal system. Finally, the central government should also allow local governments to enter the market transactions of property rights aspects in order to solve the fiscal problems, to ensure that local governments issue bonds not limitations.
　　From 2009 the local government bond issuance of situation, not encouraging, especially the first day of Anhui Province is also notes a "zero-subscription", that means the local government bond issuance in China is still a new thing, investors should be accepted there is a long process of local government bonds is a complex reform project should be completed after the close of the system design re-open.

Answer 2

3 establishing and perfecting the system of local government bond issue
Improving the local government bond issue 3.1 related legislation and enforcement constraint
First must modify the budget law article 28 local government banned the clauses, and debt guaranty law and the relevant provisions of the "bankruptcy law content, Secondly, to formulate the measures for the administration of local government bonds, on local bond issuance and trading, settlement, the information disclosure, fund is used for the use of fund and constraint, repay arrangement, credit rating, assets mortgage payments and crisis such as a comprehensive system arrangement; Finally, the local debt issuance and trading, settlement and information disclosure content should be included in the "securities law" management constraints category.
3.2 strengthening the government administrative supervision, establish and improve the hard restriction mechanism
First, the local government bonds of examination and approval power should belong to the central government, central may establish a local government bonds audit committee as local government bond issuance examination and approval organization, on administration affiliated to the national Treasury. The size of the local government issuer except the consideration places need outside, still must be included in the government debt whole scale budget and the country's overall investment budget discourse; Secondly, to establish scientific measurement local government debt issuing scale and solvency method, keep local government bonds scale and the budgetary revenues and expenditures of reasonable matching, to prevent the scale of local government appears debt crisis, Again, must be clear about the local government bond funds USES, can only be used for local infrastructure construction and utilities development; Finally, the local government responsible persons and strengthen the clear place National People's Congress supervision. To avoid the local government through the issuance of local government bonds make achievements engineering or misappropriate the local government bond funds, must be clear about the local government leaders to bond funds use responsibilities and once appear problem this responsibility not by the leaders of personal position change and remove. Meanwhile, the place National People's Congress to strengthen the supervision of the local government debt issuing behavior, the local government issuer must be approved by the place National People's Congress for approval.
3.3 establish the local bond riskguard mechanism
First, the local government bonds shall establish local residents supervision mechanism. This not only gives debt financing, use transparent, but also make local residents to participate in the decision, ensure debt financing, use complies with local residents require, therefore debt capital construction projects shall publicize and make local residents can express their opinions and Suggestions, Secondly, to establish the local government bonds information disclosure system. The local government bonds will exert positive safe operation of the constraint function, it can not only constraint government behavior, the irrational issuer or the central government macro-control gist and bring local residents the supervisory role of the premise. Local government bonds, must according to regulations will bond issuance and financial manasement so as to the public, the information disclosure by the government financial revenue and information content of construction project, itself information outside, bond hereon, scale, USES, term, interest rates, repay assurance, issuing procedures, Suggestions on risks should be timely published; Finally, to establish a sinking fund and local government bond investor protection funds, improving the local government bonds default liquidation and government bankruptcy system.
3.4 further deepening the reform of public finance system, establish the local government relatively independent property
The 1994 tax reform further intensifies the local government conform with two asymmetric, and the local government conform with two symmetry is local government debt core of legal principles. According to the local government should undertake duty to construct the characteristics of local property, local property shall be made by FeiQuan and the obligee of taxation, which is composed of three parts. Therefore, the central government should first improving the local tax system, enrich and increasing the local tax tax to actually change local lack of duty, income insufficient situation, and appropriate gives local certain tax legislation, so that the local government bond issue local with more reliable income protection; Secondly, to further improve the intergovernmental transfer payment system, strengthen and standardize the special transfer payment system, perfect capital allocation and use fund supervision, realizing the legalization of the intergovernmental financial relationship. Finally, the central government has allowed the local governments of property right into the market trade links to solve local financial difficulties, guarantee the local government debt issuing not definitively if.
From 2009 of local government bond issuance situation, is not satisfactory, especially in anhui province bonds, the first also appeared "zero subscribe" phenomenon, this explains in our local government bond issuance or a new thing, investors accept should have a longer a process, the local government bond issuance of is a complicated reform project, should be in complete strict system design poste push away after.

英文翻译器翻译。

Answer 3

Trouble consult prawn people help! Words are as follows: 3 establishing and perfecting the system of local government bond issue Improving the local government bond issue 3.1 related legislation and enforcement constraint First must modify the budget law article 28 local government banned the clauses, and debt guaranty law and the relevant provisions of the "bankruptcy law content, Secondly, to formulate the measures for the administration of local government bonds, on local bond issuance and trading, settlement, the information disclosure, fund is used for the use of fund and constraint, repay arrangement, credit rating, assets mortgage payments and crisis such as a comprehensive system arrangement; Finally, the local debt issuance and trading, settlement and information disclosure content should be included in the "securities law" management constraints category. 3.2 strengthening the government administrative supervision, establish and improve the hard restriction mechanism First, the local government bonds of examination and approval power should belong to the central government, central may establish a local government bonds audit committee as local government bond issuance examination and approval organization, on administration affiliated to the national Treasury. The size of the local government issuer except the consideration places need outside, still must be included in the government debt whole scale budget and the country's overall investment budget discourse; Secondly, to establish scientific measurement local government debt issuing scale and solvency method, keep local government bonds scale and the budgetary revenues and expenditures of reasonable matching, to prevent the scale of local government appears debt crisis, Again, must be clear about the local government bond funds USES, can only be used for local infrastructure construction and utilities development; Finally, the local government responsible persons and strengthen the clear place National People's Congress supervision. To avoid the local government through the issuance of local government bonds make achievements engineering or misappropriate the local government bond funds, must be clear about the local government leaders to bond funds use responsibilities and once appear problem this responsibility not by the leaders of personal position change and remove. Meanwhile, the place National People's Congress to strengthen the supervision of the local government debt issuing behavior, the local government issuer must be approved by the place National People's Congress for approval. 3.3 establish the local bond riskguard mechanism First, the local government bonds shall establish local residents supervision mechanism. This not only gives debt financing, use transparent, but also make local residents to participate in the decision, ensure debt financing, use complies with local residents require, therefore debt capital construction projects shall publicize and make local residents can express their opinions and Suggestions, Secondly, to establish the local government bonds information disclosure system. The local government bonds will exert positive safe operation of the constraint function, it can not only constraint government behavior, the irrational issuer or the central government macro-control gist and bring local residents the supervisory role of the premise. Local government bonds, must according to regulations will bond issuance and financial manasement so as to the public, the information disclosure by the government financial revenue and information content of construction project, itself information outside, bond hereon, scale, USES, term, interest rates, repay assurance, issuing procedures, Suggestions on risks should be timely published; Finally, to establish a sinking fund and local government bond investor protection funds, improving the local government bonds default liquidation and government bankruptcy system. 3.4 further deepening the reform of public finance system, establish the local government relatively independent property The 1994 tax reform further intensifies the local government conform with two asymmetric, and the local government conform with two symmetry is local government debt core of legal principles. According to the local government should undertake duty to construct the characteristics of local property, local property shall be made by FeiQuan and the obligee of taxation, which is composed of three parts. Therefore, the central government should first improving the local tax system, enrich and increasing the local tax tax to actually change local lack of duty, income insufficient situation, and appropriate gives local certain tax legislation, so that the local government bond issue local with more reliable income protection; Secondly, to further improve the intergovernmental transfer payment system, strengthen and standardize the special transfer payment system, perfect capital allocation and use fund supervision, realizing the legalization of the intergovernmental financial relationship. Finally, the central government has allowed the local governments of property right into the market trade links to solve local financial difficulties, guarantee the local government debt issuing not definitively if. From 2009 of local government bond issuance situation, is not satisfactory, especially in anhui province bonds, the first also appeared "zero subscribe" phenomenon, this explains in our local government bond issuance or a new thing, investors accept should have a longer a process, the local government bond issuance of is a complicated reform project, should be in complete strict system design poste push away after.