?????? 熱錢(qián)（hot money），又稱(chēng)游資（refugee capital），通常定義為追求最高報(bào)酬和最低風(fēng)險(xiǎn)，在國(guó)際金融市場(chǎng)上迅速流動(dòng)的短期投機(jī)性（speculative）資金。在我國(guó)，由于存在資本項(xiàng)目管制，所謂“熱錢(qián)”則指那些純粹以投機(jī)套利為目的、無(wú)真實(shí)貿(mào)易或投資背景的國(guó)際收支交易及跨境資金流動(dòng)。請(qǐng)看Wikipedia里對(duì)此的解釋?zhuān)?/p>

In economics, hot money refers to funds which flow into a country to take advantage of a favorable interest rate, and therefore obtain higher returns. They influence the balance of payments and strengthen the exchange rate of the recipient country while weakening the currency of the country losing the money. These funds are held in currency markets by speculators as opposed to national banks or domestic investors. As such, they are highly volatile and will be shifted to another foreign exchange market when relative interest rates make this more profitable.

?????? 自2010年2月起，國(guó)家外匯管理局（State Administration of Foreign Exchange (SAFE)）在外匯流入量較大的13個(gè)省市，排查累計(jì)金額4400多億美元的跨境交易，現(xiàn)已查實(shí)73.5億美元屬于違規(guī)流入的“熱錢(qián)”。

?????? 對(duì)于“熱錢(qián)”的流向，國(guó)家外匯管理局副局長(zhǎng)鄧先宏表示，從專(zhuān)項(xiàng)行動(dòng)看，“熱錢(qián)”進(jìn)入的重要目標(biāo)就是進(jìn)入股市（equity market, stock market）、樓市（property market）獲取資產(chǎn)價(jià)格上漲收益，這符合“熱錢(qián)”的投機(jī)套利本性。

?????? 請(qǐng)看新華社的報(bào)道：

An investigation into this year's speculative "hot money" inflows uncovered 190 cases involving 7.35 billion U.S. dollars of funds, a senior official of the State Administration of Foreign Exchange (SAFE) said.

In an undated interview with The People's Daily posted on the newspaper's website Monday, Deng Xianhong, deputy director of the SAFE, said the foreign exchange regulator did not find evidence of large amounts of hot money flowing into China.

The SAFE investigation began in February.

The latest figure was unchanged from the May 25 figure.

Most of the speculative and arbitrage capital from overseas wound up in the equity and property markets, Deng told the newspaper without giving further details.

——Excerpt from China uncovers US$7.35 bln of hot money inflows

?????? （來(lái)源：中國(guó)網(wǎng)學(xué)英語(yǔ)頻道）