The Economist March 12th 2022 China

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coffer (ˈkɒfə) (ˈkɔfər;ˈkɑfər) n.

1.（存放钱或贵重物品的）保险箱，贵重物品箱，银柜

2. (pl.)（某一组织的帐户中可使用的）资金，金库

同义词：strongbox, chest, casket, treasure chest, safe

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That number is, however, misleading. Much of this year’s additional spending will be undertaken by government “funds” that are not included in the headline budget figures. Local governments will also tap money raised in 2021 that was not spent before the year’s end. And state coffers will benefit from 1.65trn yuan of “surplus profits” handed over by state-owned financial institutions and state monopolies, such as China Tobacco, which have not paid dividends to the government since the pandemic struck. (Wei He of Gavekal Dragonomics, a consultancy in Beijing, calls it a “special fiscal operation”.) The largest contributor to this windfall is the central bank, which will transfer to the government about 1trn yuan of profits it has earned on its foreign-exchange reserves. As another rapper once put it, “Money trees is the perfect place for shade.”

然而，这个数字具有误导性。今年的大部分额外支出将由政府“资金”承担，而这些基金并未包含在总体预算数字中。地方政府还将利用2021年筹集的资金，这些资金在去年年底前还没有花完。国库将受益于国有金融机构和中国烟草等国有垄断企业移交的1.65万亿元“盈余”，这些企业自疫情爆发以来一直没有向政府支付红利。（北京咨询机构龙洲经讯(Gavekal Dragonomics)的何伟（音译）称其为“特殊财政业务”。）这笔意外之财的最大贡献者是中央银行，中央银行将向政府转移其在外汇储备中赚取的约1万亿元利润。正如另一位说唱歌手曾经说过的那样，“摇钱树是遮荫的最佳场所。”

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