在去年十一月召開的中央經(jīng)濟工作會議上，決定今年要實行穩(wěn)健的財政政策和貨幣政策，這標(biāo)志著實施已近7年的積極財政政策調(diào)整了取向。對于“穩(wěn)健的財政政策和貨幣政策”的英譯，許多媒體都是用prudent fiscal and monetary policies 來表達(dá)的：

1. A high-level meeting of the Community Party of China (CPC) held Wednesday set the tone for China's economic policy next year, declaring that China will exercise prudent fiscal and monetary policies in 2005.

2. The policy shift from 'proactive to prudent' fiscal and monetary policies was made 'to conform with changes in China's macro-economic situation and consolidate the achievements of macro-control,'

3. China's proactive fiscal policy, in place since 1998, has resulted in seven years of world-stunning economic growth. A prudent policy is the logical choice to curb overheating of the economy, maintain steady development and improve the efficiency of the economy.

4. China has begun to shift to a prudent financial policy for economic development after having adopted a proactive fiscal policy for securing sustainable growth during the past seven years.

5. In line with the prudent policy, the Chinese government will cut budget deficit and public investment, reform expenditure structure and push financial reform while carrying out macro-control measures, he said.

　　但是，prudent（謹(jǐn)慎）有消極保守的意思：Definition of PRUDENT: careful and sensible; marked by sound judgment; "a prudent manager"; "prudent rulers"; "prudent hesitation"; "more prudent to hide than to fight"

1. US prudent policy about climate change：（謹(jǐn)慎且消極的態(tài)度）The US Administration has come under criticism within many European countries and within the American community of environmentalists for adopting what is considered to be too relaxed a view toward the question of global climate change, more particularly toward the prospect of a substantial warming of the surface of the earth sometime during the next century.

2. Prudent fiscal policy spells economic recovery （帶動經(jīng)濟的復(fù)蘇）

　　“謹(jǐn)慎的財政政策”的說法在國外也能找到依據(jù)。例如，“謹(jǐn)慎的財政政策是新加坡經(jīng)濟管理的重要特征。雖然有更大的開支壓力和較緊的預(yù)算，但我們必須保持這個謹(jǐn)慎的財政政策。”

　　那么，穩(wěn)健的財政政策是什么呢？財政部長金人慶支出：“實行穩(wěn)健的財政政策（也就是經(jīng)濟學(xué)講的中性財政政策），主要是要服從服務(wù)于改革發(fā)展大局，服從服務(wù)于中央宏觀調(diào)控大局，宏觀上既要防止通貨膨脹的苗頭繼續(xù)擴大，又要防止通貨緊縮的趨勢重新出現(xiàn)；既要堅決控制投資需求膨脹，又要努力擴大消費需求；既要對投資過熱的行業(yè)從緊，又要著力支持經(jīng)濟社會發(fā)展中的薄弱環(huán)節(jié)。政策核心是松緊適度，著力協(xié)調(diào)，放眼長遠(yuǎn)。具體說來，要注重把握'控制赤字、調(diào)整結(jié)構(gòu)、推進(jìn)改革、增收節(jié)支'十六個字。”

　　中性是指有增有減，有保有壓，松緊適度，既不過快也不過慢，既不過高也不過低，這是穩(wěn)健財政政策的重要特征。國家發(fā)改委宏觀經(jīng)濟研究院副院長王一鳴說：“我理解的穩(wěn)健是它既不同于過去的積極財政政策那樣的擴張，也不同于緊縮型財政政策那樣一種收縮，而是從過去積極財政政策的軌道上逐步地退下來，也就是說要逐步減少它的擴張力度。……經(jīng)濟保持一種穩(wěn)定發(fā)展的格局，既不過快也不過慢，既不過高也不過低。…… 穩(wěn)健的財政政策并不是從擴張轉(zhuǎn)向緊縮，也不意味著對經(jīng)濟支持力度的減弱，它的核心是松緊適度，促進(jìn)經(jīng)濟健康平穩(wěn)運行。”

　　英語中sound policy的含義：If sound policy is to be formulated, the issues will be decided on the basis of three criteria: Is the proposed matter feasible? (Can it be done?) Is it advisable? (Should it be done?) Is it efficient? (What is the cost-benefit ratio?) The policy will be sound if those questions are answered affirmatively, or if a satisfactory compromise based on the criteria is made.

　　從以上的解釋不難看出，英語中的sound policy同漢語中的“穩(wěn)健政策”是比較吻合的。因為它是以可行性、必要性和效益性這“三性”要求為前提的。

Sound Monetary Policy Supports a Healthy Economy.

Sound Fiscal Policy Spurs Economic Growth

European Central Bank president Jean-Claude Trichet said that sound fiscal policies would help the ECB to keep interest rates relatively low.

The governor has highlighted the main objectives of any sound monetary policy - the maintenance of price stability and stability of the external value of the domestic currency.

A sound monetary and fiscal policy framework has to be complemented by structural policies that make the economy more flexible and dynamic.

　　積極的財政政策和穩(wěn)健的貨幣政策也可以帶動經(jīng)濟的復(fù)蘇，而不是促進(jìn)經(jīng)濟的增長或發(fā)展，例如：China's pro-active fiscal policies and sound monetary policies have contributed to the overall recovery of economy. 實施積極的財政政策和穩(wěn)健的貨幣政策對我國經(jīng)濟的全面復(fù)蘇的促進(jìn)作用。

Sustaining Economic Recovery through Sound Monetary Policy

　　由此看來，“穩(wěn)健”（sound）和“謹(jǐn)慎”（prudent）是可以交替使用的，只是前者更為可取。孫學(xué)工在他的《財政赤字政策的選擇》一文中指出：“應(yīng)根據(jù)我國具體情況并參照相應(yīng)的國際經(jīng)驗，建立起適合中國國情的、滿足當(dāng)前發(fā)展階段需要的、且又是充分謹(jǐn)慎的財政政策規(guī)則。…… 其實更應(yīng)改為"謹(jǐn)慎的財政政策”。政府之所以選擇“穩(wěn)健”，只是為了尋求一種平衡與引導(dǎo)，從中可以看到政府的用心良苦，其實怎么說都是無所謂的，大家知道怎么做就是了。”

　　順便提一下，在互聯(lián)網(wǎng)的語料庫里，Sound policy 的例子比較多，Prudent policy的例子比較少，而Cautious policy的例子則很難找到。