billchoa/3036384256-COMP7607-data huggingface dataset:
user: Please translate the following sentence from English to Chinese: USD or US$ means the lawful currency of the United States of America.

assistant: 美元指美利堅合衆國的法定貨幣。
user: Please translate the following sentence from English to Chinese: The Manager accepts full responsibility for the accuracy of the information contained in the Prospectus, the Hong Kong Covering and the Product KFS and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement misleading.

assistant: 管理人對招募說明書、香港說明文件及產品資料概要所載資料的準確性承擔全部責任，並於作出所有合理查詢後確認，就其深知及確信，並無遺漏任何其他事實以致任何陳述產生誤導。
user: Please translate the following sentence from English to Chinese: Amounts contributed by the Group under the Scheme are recognised as personnel expenses when paid.

assistant: 集團所資助的部分在支付時將以人事開支確認。
user: Please translate the following sentence from English to Chinese: Coupon payments are entirely discretionary and may be cancelled by the issuer.

assistant: 息票由發行人全權酌情支付，並可由發行人取消。
user: Please translate the following sentence from English to Chinese: 2. Special resolutions. To be effective, a special resolution shall be made by more than 2/3 (inclusive) of the voting rights held by the attending Unitholders or their proxies.

assistant: 2、特別決議，特別決議應當經參加大會的基金單位持有人或其代理人所持表決權的三分之二以上（包括三分之二）通過方可作出。
user: Please translate the following sentence from English to Chinese: Unitholders will receive written confirmation of entry on the register of Unitholders.

assistant: 單位持有人將收到其已登錄入單位持有人名冊的書面確認。
user: Please translate the following sentence from English to Chinese: A description of the content of each Pricing Supplement, which will include the definitions of certain terms used in the following Terms and Conditions or specify which of such terms are to apply in relation to the relevant Notes, will be included in the relevant Issue Prospectus. References in these Terms and Conditions to “Notes” are to the Notes of one Series only, not to all Notes that may issued under the Programme.

assistant: ㈲關每份定價補充文件（將載㈲若干用於㆘列條款及條件之詞彙之定義或註明㊜用於㈲關票據之該等詞彙）之內容概況，將收錄於㈲關發行章程。 本條款及條件內所指之「票據」，僅指㆒系列之票據，而不㈹表根據計劃可發行之全部票據。
user: Please translate the following sentence from English to Chinese: the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (as amended) and all applicable Central Bank regulations made or conditions imposed or derogations granted thereunder as may be amended from time to time.

assistant: 《2011 年歐洲共同體（可轉讓證券集體投資計劃）規例》（經修訂）以及據此作出的所有適用中央銀行條例或施加的條件或廢除的條文，可經不時修訂。
user: Please translate the following sentence from English to Chinese: Investors must demonstrate that they qualify as Institutional Investors by providing the Company and its Transfer Agent or the local Investor Servicing team with sufficient evidence of their status.

assistant: 此類投資者必須向本公司、過戶代理人或當地投資者服務團隊提供有關其身分的充份證據，證明符合機構投資者的資格。
user: Please translate the following sentence from English to Chinese: 6. Initial Offer Period Not applicable.

assistant: 6. 首次發售期不適用。
user: Please translate the following sentence from English to Chinese: EUR Hedged Class "A" Shares are for all investors.

assistant: 歐元對沖 「A」類股份的發行對象爲所有投資者。
user: Please translate the following sentence from English to Chinese: The Division includes credit risk management, market risk management, quantitative risk management, sovereign risk management and operational risk management. Combining these disciplines facilitates a fully integrated approach to risk management.

assistant: 風險組包括信貸風險管理、市場風險管理、量化風險管理、主權風險管理及營運風險管理。 結合這些規範措施可促進風險管理的全面綜合取向。
user: Please translate the following sentence from English to Chinese: The markets may lack liquidity and exhibit high price volatility meaning that the accumulation and disposal of holdings in some investments may be time consuming and may need to be conducted at unfavourable prices.

assistant: 市場可能缺乏流通性，而價格波幅亦較高，因此或需以較長時間吸納及沽出投資，又或需以不利價格進行交易。
user: Please translate the following sentence from English to Chinese: Our business may be adversely impacted by operational failures or from unfavorable external events.

assistant: 我們的業務或會因營運失誤或外界負面事件而受到不利影響。
user: Please translate the following sentence from English to Chinese: Without the impact of the change in the functional currency, our net interest income would have represented 95.6% of our operating income.

assistant: 在不考慮變更記賬本位幣的情況下，本行的淨利息收入佔經營收入95.6%。
user: Please translate the following sentence from English to Chinese: Summaries of the Credit Events are set out under “Summary — Structure and Outline” above but prospective investors should remember that the actual occurrence of a Credit Event would be determined by the Calculation Agent on a strict application of the technical definitions set out in “Credit Events and Underlying Securities Default Events”.

assistant: 上文「概要－結構及大綱」已概述信貸事件，惟準投資者務請緊記，信貸事件實際有否發生將由計算代理嚴格應用有關技術定義（已載於「信貸事件及指定證券失責事況」一節）來釐定。
user: Please translate the following sentence from English to Chinese: Operational risk The Stock Connect provides a new channel for investors from Hong Kong and overseas, such as the sub-fund, to access the China stock market directly.

assistant: 操作風險 滬港通爲香港及海外投資者（例如子基金）直接進入中國股票市場提供了新的機制。
user: Please translate the following sentence from English to Chinese: On 31 December 2016, its paid up share capital amounted to EUR 65.0 million.”

assistant: 於2016年12月31日，已繳付股本爲6,500萬歐元。」
user: Please translate the following sentence from English to Chinese: The investment policies and investment restrictions and guidelines of each Trust may, subject to the approval of the Trustee and/or the Authority and the SFC (as applicable), vary from time to time when the Manager and/or the Sub-Manager considers appropriate in the circumstances.

assistant: 當經理人及／或助理經理人認爲情況合適，各項信託基金的投資政策、投資限制和指引在信託管理人及／或積金局及證監會（如適用）批准的規限下可不時予以修訂。
user: Please translate the following sentence from English to Chinese: Inception date of the Fund is 30 June 1991.

assistant: 基金之成立日期爲一九九一年六月三十日。
user: Please translate the following sentence from English to Chinese: In the segment report, therefore, losses on OTC derivatives are now reported as they are incurred.

assistant: 因此，於分類報告中，場外交易衍生投資產品之虧損現已於彼等產生時入賬。
user: Please translate the following sentence from English to Chinese: The specifications of each Sub-Fund currently available to Hong Kong investors are described in section 3 of this Offering Document.

assistant: 現時可供香港投資者認購的各子基金的說明列載於本銷售文件第3節。
user: Please translate the following sentence from English to Chinese: There is a risk the PRC tax authorities may withdraw the temporary capital gains tax exemption in the future and seek to collect capital gains tax realised on the sale of A-Shares to the relevant Fund without giving any prior notice.

assistant: 中國稅務機關將來有可能撤回暫免資本收益稅，並可能在不發出任何事先通知下尋求向有關基金就出售A股變現所得的資本收益收取稅項。
user: Please translate the following sentence from English to Chinese: Series 18 - Linked to the Shares of Cheung Kong (Holdings) Limited, Henderson Land Development Co Ltd, MTR Corporation Limited and Esprit Holdings Limited

assistant: 系列 18 –與長江實業(集團)有限公司、恆基兆業地產有限公司、地鐵有限公司及思捷環球控股有限公司之股份掛鉤
user: Please translate the following sentence from English to Chinese: The Fund invests primarily (at least 70% of its Net Asset Value) in a diversified portfolio of equity securities or equity related securities of larger capitalisation companies which are listed, traded or dealt in on any of the Regulated Markets worldwide.

assistant: 該基金主要（至少其資產淨值的70%）投資於在全球任何受監管市場上市、交易或買賣的大型企業發行的股本證券或股本相關證券的多元化投資組合。
user: Please translate the following sentence from English to Chinese: or (ii) other share capital or securities granting the right to payment of dividends and/or the proceeds of liquidation and dissolution of the relevant Listed Entity equally or proportionately with such payments to holders of such Linked Stock;

assistant: 或 (ii) 授予該掛鉤股票持有人相等或按比例獲取相關上市實體股息派付及╱或清盤 或解散時所得款項的權利的其他股本或證券；
user: Please translate the following sentence from English to Chinese: 19. FURTHER ISSUES The Issuer shall be at liberty from time to time without the consent of the Noteholders, the Receiptholders or the Couponholders to create and issue further notes having terms and conditions the same as the Notes or the same in all respects save for the amount and date of the first payment of interest thereon and so that the same shall be consolidated and form a single Series with the outstanding Notes.

assistant: 19. 增發票據 發行人毋須經票據持有人、憑證持有人或票息持有人的同意，可自由隨時地設立及發行與票據具有相同條款和條件，或除了第一次利息付款的款額及日期之外，其他所有方面相同的進一步票據，使這些票據可與仍未贖回的票據綜合及組成一個單一系列。
user: Please translate the following sentence from English to Chinese: As of end of May 2018, the reference index comprised approximately 12% below investment grade and/or unrated bonds, in which the largest exposure is from China (approximately 33% of the reference index).

assistant: 截至2018年5月底，參考指數約23%爲低於投資級別及／或未獲評級的債券，當中最大配置爲中國（約佔參考指數的33%）。
user: Please translate the following sentence from English to Chinese: To the Issuer as to Cayman Islands law Walkers P.O. Box 265GT Walker House George Town Grand Cayman Cayman Islands British West Indies

assistant: 發行人的開曼羣島法律顧問 Walkers P.O. Box 265GT Walker House George Town Grand Cayman Cayman Islands British West Indies
user: Please translate the following sentence from English to Chinese: The “Trade Order Cut-Off Time” is as of the close of regular trading of the New York Stock Exchange (normally 4:00 p.m. New York City time, 10:00 p.m. Luxembourg time) (the “Valuation Time”) on a Luxembourg Business Day and when the New York Stock Exchange is open for trading (a “Valuation Date”).

assistant: 「交易指令截止時間」指在紐約證券交易所於盧森堡營業日開門營業的日期（「估值日期」），紐約證券交易所正常交易時段結束的時間（通常爲紐約時間下午四時正、盧森堡時間爲晚上十時正）（「估值時間」）。
user: Please translate the following sentence from English to Chinese: Investments in equity related securities do not entitle the investors to the beneficial interest in the underlying securities nor to make any claim against the company issuing the securities.

assistant: 股票相關證券投資不會導致投資者獲得相關證券之受益權益，亦不會使投資者對發行證券之公司提出申索。
user: Please translate the following sentence from English to Chinese: 1.2 Sole Object The sole object of the Company is to place the funds available to it in one or more portfolios of transferable securities or other assets referred to in Article 41(1) of the 2010 Law, referred to as “Funds”, with the purpose of spreading investment risks and affording to its shareholders the results of the management of the Company’s Funds.

assistant: 1.2 單一目標本公司的單一目標爲根據二零一零年法例第41(1)條將其可動用的資金存放在一個或以上稱爲「基金」的可轉讓證券或其他資產投資組合，旨在分散投資風險及向其股東提供管理本公司基金的績效。
user: Please translate the following sentence from English to Chinese: If a prospective investor does not provide the Placement Agent with its relevant personal information, the Placement Agent will not be able to do so. Privacy laws apply to the Placement Agent’s handling of personal information and it will collect, use and disclose personal information in accordance with its privacy policy, which includes details about the following matters:

assistant: 倘準投資者並未向配售代理人提供其相關個人資料，配售代理人將無法開展上述工作。 私隱法律適用於配售代理人處理個人資料，其將根據其私隱政策收集、使用及披露個人資料，包括以下事項的詳情：
user: Please translate the following sentence from English to Chinese: The Sub-Fund’s gross risk exposure to each ELI issuer will not exceed 10% of its Net Asset Value.

assistant: 本分支基金對每一股票掛鉤票據發行人所承受的風險總額不會超過其資產淨值的10%。
user: Please translate the following sentence from English to Chinese: (f) Short sale of securities are presented under “Other liabilities” on the balance sheet

assistant: (f) 沽空證券乃於資產負債表中「其他負債」項下呈列
user: Please translate the following sentence from English to Chinese: The Securities and Futures Commission takes no responsibility for the contents of this Addendum, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Addendum. Ping An of China Select Investment Fund Series – RMB Bond Fund Addendum to the Explanatory Memorandum The Explanatory Memorandum is hereby supplemented as follows:

assistant: 香港證券及期貨事務監察委員會對本增補之內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本增補全部或任何部分內容而產生或因依賴該等內容而引致之任何損 失承擔任何責任。 中國平安精選投資基金系列–人民幣債券基金 註釋備忘錄增補 該註釋備忘錄現補充如下：
user: Please translate the following sentence from English to Chinese: The economies of emerging countries are generally heavily dependent on international trade and have been and may continue to be adversely affected by trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which they trade.

assistant: 新興國家的經濟一般倚重國際貿易，而且一直及可能繼續受到其貿易伙伴國家所施加或商議的貿易障礙、外匯管制、調控相對貨幣價值及其他保護措施的不利影響。
user: Please translate the following sentence from English to Chinese: You must already have, or must open, an investment account and a cash account with the appointed distributor(s).

assistant: 閣下必須於指定分銷商擁有或開立一個投資戶口及現金戶口。
user: Please translate the following sentence from English to Chinese: Investors should note that a downgrade in respect of the Company does not of itself equate to, or result in, the occurrence of a Credit Event.

assistant: 投資者謹請留意，該公司的評級下降，並不相等於或導致一項信貸事件。
user: Please translate the following sentence from English to Chinese: These pledged securities, where the counterparty has the right by contract or custom to sell or repledge the financial instruments were approximately $68 billion and $43 billion at May 31, 2007 and November 30, 2006, respectively.

assistant: 於二零零七年五月三十一日及二零零六年十一月三十日，此等已抵押證券（對手方有權以合約或按慣例出售或再抵押該等金融工具）分別約爲680億元及430億元。
user: Please translate the following sentence from English to Chinese: Investment Objective The Fund aims to provide capital growth by investing in equity and equity related securities of small-sized US companies. Investment Policy The Fund invests at least two-thirds of its assets in the equity and equity related securities of small-sized US companies.

assistant: 本基金旨在通過投資於美國小型公司的股本和股本相關證券，以提供資本增值。 投資政策 本基金將最少三分之二的資產投資於美國小型公司的股本和股本相關證券。
user: Please translate the following sentence from English to Chinese: The risks of delays in payments or ultimate non-payment of principal and/or interest will be borne disproportionately by holders of the more junior ranking Class or Classes of Notes as compared to holders of more senior ranking Class or Classes of Notes.

assistant: 與較優先類別票據持有人比較，延遲付款或最終並未獲支付本金及或利息的風險將由較後次序類別的票據持有人不相稱地承擔。
user: Please translate the following sentence from English to Chinese: or (iv) in the event of a product rationalisation decided by the Board of Directors.

assistant: 或 (iv) 董事局決定整合產品。
user: Please translate the following sentence from English to Chinese: The particular Greater China Region may be both a heavy importer of raw materials and a significant exporter of human capital, goods and services.

assistant: 特定大中華地區可能既進口大量原料，又出口相當多的人力資本、貨物及服務。
user: Please translate the following sentence from English to Chinese: Each Shareholder is responsible for making its own decision as to the timing of any redemption it wishes to make.

assistant: 各股東均有責任自行決定其希望作出贖回的時機。
user: Please translate the following sentence from English to Chinese: Direct investment in China A Shares through the QFII quota is limited to 10% of the net assets of the relevant Fund.

assistant: 透過QFII額度直接投資於中國A股以相關基金淨資產的10%爲限。
user: Please translate the following sentence from English to Chinese: They may also have a local dealing cut-off time which is earlier than the dealing deadline described above.

assistant: 其亦可能設置較上述交易截止時間爲早的本地交易截止時間。
user: Please translate the following sentence from English to Chinese: The activities of the management company are supervised and coordinated by the conducting officers.

assistant: 管理公司的活動由執行主任監督及協調。
user: Please translate the following sentence from English to Chinese: Issuing and Paying Agent:

assistant: 發行及付款代理：
user: Please translate the following sentence from English to Chinese: Both the residual capital and coupon are exposed to further credit events. In extreme cases, the entire capital may be lost.

assistant: 剩餘的本金和息票會承受更多信貸事件，在極端情況下，投資者甚至會虧損所有資本。
user: Please translate the following sentence from English to Chinese: (XIV) Other Businesses such as Agency Transfer, Non-trading Transfer of the Fund For the units registered in the Shanghai Securities Accounts, the Investors may transfer the designated transactions among the members’ business departments within Shanghai Stock Exchange;

assistant: （十四）基金的轉託管與非交易過戶等其他業務投資者可將登記在上海證券帳戶內的基金份額，在上海證券交易所場內不同會員營業部之間辦理轉指定交易；
user: Please translate the following sentence from English to Chinese: the AUD Hedged Class, the CAD Hedged Class, the EUR Hedged Class, the GBP Hedged Class, the HKD Hedged Class, the NZD Hedged Class, the RMB Hedged Class, the SGD Hedged Class and the USD Hedged Class which are primarily targeted for investors whose base currencies of investment are Australian dollars, Canadian dollars, Euros, Sterling, Hong Kong dollars, New Zealand dollars, Renminbi, Singapore dollars and US dollars respectively.

assistant: 澳元對沖類別、加元對沖類別、歐元對沖類別、英鎊對沖類別、港元對沖類別、紐元對沖類別、人民幣對沖類別、新加坡元對沖類別及美元對沖類別，主要分別以澳元、加元、歐元、英鎊、港元、紐元、人民幣、新加坡元及美元爲其投資基本貨幣的投資者作爲目標。
user: Please translate the following sentence from English to Chinese: The total amount of outstanding commitments may not represent future cash requirements, as commitments may expire without being drawn upon.

assistant: 未償承擔的總金額或不代表未來的現金要求，因承擔或未被使用即已到期。
user: Please translate the following sentence from English to Chinese: Also, illiquid securities may become harder to value especially in changing markets.

assistant: 另外，欠缺流通性的證券可能變得更難估值，特別是在轉變中的市場。
user: Please translate the following sentence from English to Chinese: The Issuer accepts no responsibility whatsoever that such information, if available, is accurate and/or up-to-date, and no responsibility is accepted in relation to any such information by any person responsible for this Programme Prospectus.

assistant: 發行人並不就該等資料(如有)的準確性及/或是否最新資料承擔責任，而對本計劃章程負責的任何人士，亦不就任何該等資料承擔責任。
user: Please translate the following sentence from English to Chinese: The Distributors will accept purchase orders for Notes entirely at their discretion.

assistant: 分銷商將酌情全數接受票據的買盤。
user: Please translate the following sentence from English to Chinese: There are no capitalisation restrictions, and it is anticipated that the sub-fund will seek to invest across a broad range of capitalisations.

assistant: 本附屬基金的投資沒有市值限制，並且預計本附屬基金將尋求投資於多種不同市值的公司。
user: Please translate the following sentence from English to Chinese: Ongoing fees payable by the Fund The following expenses paid by the Fund affect you because they reduce the return on your investments:

assistant: 基金須持續支付的費用以下開支將由基金支付，閣下的投資回報將會因而減少：
user: Please translate the following sentence from English to Chinese: (i) the event which has led to the loss is not the result of any act, omission or default of the Depositary or of one of the Depositary’s delegates;

assistant: (i) 引致損失的事件並非存管人或存管人其中一名受委人的任何作爲、不作爲或違責而造成；
user: Please translate the following sentence from English to Chinese: The prices of financial derivative instruments may move in unexpected ways, especially in abnormal market conditions.

assistant: 金融衍生工具的價格，尤其是在市況不正常的情況下，可能出現出乎意料的波動。
user: Please translate the following sentence from English to Chinese: An Extraordinary Resolution (as defined in the relevant Trust Deed) is a resolution proposed as such and passed by a 75 per cent. majority of the votes cast for and against such resolution.

assistant: 特別決議案（按有關信託契約所界定）爲一項提呈爲特別決議案之決議案，須由就該決議案投贊成及反對票的單位持有人以75%之大多數票通過。
user: Please translate the following sentence from English to Chinese: The maximum global exposure for Emerging Markets Debt Local Currency Fund is monitored according to the Value at Risk calculation methodology, as described under Item 25 below, including, for the Emerging Markets Debt Local Currency Fund, its ability to use derivatives to increase or decrease exposure to asset classes, markets and/or currencies resulting from individual security selection based on its assessment of the risk/return potential of such asset classes, markets, and/or currencies.

assistant: 新興市場債券本地貨幣基金的最高全球曝險根據以下第 25 項所述的風險值計算法監督，包括新興市場債券本地貨幣基金可否使用衍生工具，根據其對資產類別、市場和╱或貨幣的風險╱報酬潛力的估測，並透過個別證券揀選來增加或減少此等資產類別、市場和╱或貨幣的曝險。
user: Please translate the following sentence from English to Chinese: Member of the Nomination Committee, Member of the Compensation Committee.

assistant: 提名委員會成員，賠償委員會成員。
user: Please translate the following sentence from English to Chinese: The Sub-Advisor applies bottom-up, fundamental analysis to select property securities.

assistant: 代理顧問應用由下而上基礎分析挑選物業證券。
user: Please translate the following sentence from English to Chinese: The Manager has discretion to select Dealing Periods referable to each Valuation Day. Dealing Periods will be selected for each location at which applications to subscribe for or realise Units may be received in order to be dealt with at a particular valuation.

assistant: 管理人將就可接受認購及變現單位申請之每個地點釐定交易期，以便認購或變現可按指定之估值辦理。
user: Please translate the following sentence from English to Chinese:  At the date of this document, neither the Directors nor any connected persons have any direct or indirect interest in the share capital of the Company or any options in respect of such capital.

assistant: 截至本文件發表日期，概無任何董事或任何關連人士在本公司股本或該股本的任何認購權中擁有任何直 接或間接權益。
user: Please translate the following sentence from English to Chinese: Profits Tax.

assistant: 利得稅。
user: Please translate the following sentence from English to Chinese: In the event any Director or officer of the SICAV may have in any transaction of the SICAV an interest conflicting with the interests of the SICAV, such Director or officer shall make known to the Board such conflicting interest and shall not consider or vote on any such transaction, and such transaction and such Director’s or officer’s interest therein shall be reported at the next succeeding general meeting of Shareholders.

assistant: SICAV任何董事或高級職員若於SICAV的任何交易中佔有與 SICAV利益構成衝突的權益，該董事或高級職員則須向董事會董事乃於股東大會上由股東選出；
user: Please translate the following sentence from English to Chinese: The directors of the Company believe that the aggregate liability, if any, resulting from these proceedings will not materially prejudice the financial position of the Company and have been provided for where deemed necessary.

assistant: 本公司董事相信，該等法律訴訟可能產生的負債總額（如有）將不會對本公司的財務狀況構成重大損害，並已在視爲必須時作出撥備。
user: Please translate the following sentence from English to Chinese: In adverse situations, this may result in significant or total loss to the relevant Fund(s).

assistant: 在不利的情況下，可能導致相關基金蒙受重大或全部損失。
user: Please translate the following sentence from English to Chinese: A change in the prepayment rate may negatively impact the net asset value of the subfunds.

assistant: 提前還款率的變化可能對附屬基金的資產淨值產生負面影響。
user: Please translate the following sentence from English to Chinese: As part of its launch, a Portfolio may receive a subscription from an Affiliate as a seed investment, which may be substantial.

assistant: 種子投資 作爲投資組合推出的一部分，投資組合可接受聯營公司以種子投資形式作出可能屬大額的認購。
user: Please translate the following sentence from English to Chinese: Please refer to the “Risk” section below for further details in this respect.

assistant: 有關此方面的詳情，請參下文「風險」一節。
user: Please translate the following sentence from English to Chinese: A substantial portion of the Company’s transactions are executed with and on behalf of institutional investors, including other brokers and dealers, mortgage brokers, commercial banks, government agencies, mutual funds, hedge funds and other financial institutions.

assistant: 本公司大部分交易與機構投資者進行（包括其他經紀與經銷商、按揭經紀、商業銀行、政府機構、互惠基金、對沖基金及其他金融機構）。
user: Please translate the following sentence from English to Chinese: Other Investment Policies As a temporary defensive measure, or to provide for redemptions, the Portfolio may, without limit, hold cash, cash equivalents, or short-term fixed-income obligations, including money market instruments.

assistant: 其他投資政策 作爲暫時性的防守策略，或爲準備資金贖回證券，本基金可無限制地持有現金、現金等價物或短期固定收益債務（包括貨幣市場工具）。
user: Please translate the following sentence from English to Chinese: The CNH rate may be at a premium or discount to the exchange rate for onshore RMB in China (the “CNY”) and there may be significant bid and offer spreads.

assistant: C N H 匯率可能是中國在岸人民幣匯率（「C N Y」）的一項溢價或折讓，而且可能有顯著的買賣差價。