"类脂物代谢作用" can be translated as "lipid metabolism" in English.
Here, "类脂物" (lèizhīwù) refers to lipids, a broad class of naturally occurring molecules that include fats, waxes, sterols, fat-soluble vitamins, monoglycerides, diglycerides, triglycerides, and phospholipids. "代谢作用" (dàixiè zuòyòng) translates to "metabolism," which is the set of life-sustaining chemical reactions in organisms.
Therefore, combining these two terms gives us "lipid metabolism," which accurately describes the biochemical processes involved in the synthesis, breakdown, and utilization of lipids in living organisms.