Financial translation is very sensitive to figures. Any omission will directly lead to great losses, which tests the professionalism of the translation company. Next, let Beijing Translation Company share with you some points needing attention in financial translation.
Although internationalization is the development trend and inevitable requirement of most industries at present, this requirement is particularly prominent for the financial industry. In financial translation, most financial manuscripts are translated from Chinese to English, not from English.
Financial translation requires translators to have a certain professional level, master professional terminology, and be familiar with professional operations. Taking bank credit business as an example, words such as guarantee letter, swap, advance credit and double factoring have fixed English equivalents; other words without standard translation methods require translators to use professional background to understand their connotations in depth and then translate them. At the same time, credit business usually involves automobile, steel, chemical industry, coal, chemical fiber, education and other industries. This requires not only the background of financial knowledge, but also a comprehensive knowledge structure of social sciences.
Translations of financial institutions usually include minutes of meetings, information sheets, annual reports, credit guides and various reports. These documents are usually used for reading, discussion or approval by the board of directors of financial institutions, shareholders'meetings and senior management at headquarters. They are related to the company's business development and investment strategy; especially the annual report, which is more important for listed companies, is a way for investors to understand the company's detailed business, to a certain extent, it affects the investors'investment decisions, and then affects the future performance of listed companies. The translation of this part of the content requires a high level of translation quality and professionalism to ensure the integrity and accuracy of information obtained by overseas investors.
The importance of financial translation content determines its high requirement for translation time. Some manuscripts are usually received on the same day, delivered the next day, or come in the morning or in the afternoon. In the case of large amount of translation and time constraints, translators often need to maintain a high sense of responsibility, work overtime to complete tasks on time and ensure quality.
Financial institutions operate monetary funds, which is also an indispensable material basis for the normal operation of enterprises. Specific financial data can best reflect business decisions of enterprises, which is also the core of competition with the same industry. Therefore, all types of financial data, specific business objectives and the amount of funds involved in the financial report should be kept in good faith and confidential by translators.
Accuracy of financial translation is very important. If you want to know about other projects of Beijing Translation Company, please continue to pay attention to or consult us.