2011商务英语阅读复习资料

商务英语阅读复习题

I.Give the full name of the following (5X2’=10’)

1.IMF International Monetary Fund

2.G-7 Group of Seven

3.NYSE New York Stock Exchange

4.FDI foreign direct investment

5.QFII Qualified Foreign Institutional investors

6.ASEAN Association of South East Asian Nations

7.GDP Gross Domestic Product

8.ADB Asian Development Bank

9.PBOC People’s Bank of China

10.AIM Alternatives Investment Market

11.OECD Organization for Economic Cooperation and Development

12.WTO World Trade Organization

13.WWF World Wildlife Fund

14.OTC over-the-counter

15.OPEC Organization of Petroleum Exporting Countries

II.Fill the blanks with the proper forms of the words and expressions given (20x2’=40’)

1.The objective is not to provide a template for a business plan, but to give hints, based on the

experience of those who have already done it, be they entrepreneurs or investors.

2.The higher the discount, the more _incentive buyers have to pay early. Sellers can thus adjust

credit terms to influence when customers pay their bills.

3.The comination of urbanization, demand for new infrastructure, and the rapid expansion of

its manufacturing platform, has had a profound impact on China’s consumption of industrial materials and its impact on global commodity markets.

4.London’s dramatic renaissance as perhaps the world’s leading financial center has been a

well-documented phenomenon in recent years.

5.Protectionist policies do not work and the collateral damage from these policies is high.

6.During the 1980s, creating value through financial techniques (junk bonds, leveraged buyouts,

financial asset repackaging) was tried.

7.The elevator pitch is a one-paragraph description of the business, presented as if you were in

a elevator with an investor.

8.Once, one of the leading-edge high-technology firms in the world, Hewlett-packard began to

lose some of its luster in the mid-1990s.

9.They like catchy titles, tend to read in diagonals, and have a short attention span.

10.Short-term expenditures are incurred regularly in a firm’s everyday business activities.

11.Keep in mind that the first review of a business plan is an elimination process, rather than a

selection process.

12.Don’t underestimate competitor s’ability to catch up and don’t forget bricks-and-mortar

companies moving online.

13.But if reforms enacted in Singapore bolster confidence in the IMF, everybody wins — and

future anniversaries should be happy affairs.

14.Emerging markets remain vulnerable to financial-market turbulence—we saw a mild version

of this in May.

15.China’s voracious appetite for imports – up an astonishing 40% alone in 2003 – underscores

the increasingly powerful trade linkages that China exerts on the rest of the world.

16.There are risks to the global economy posed by mounting trade imbalances, especially the

US’s trade deficit (around 6% of GDP) and the soaring surpluses in emerging Asia, some European economies, and oil-producing nations.

17.Yet China, despite its economic heft, has fewer votes at the IMF than any of the G-7 nations.

18.Like may 5-year-olds, California’s Vycon corporation is going through a growth spurt.

19.But one thing that cannot be ignored is a crisis of consumer trust that has contributed to the

current lackluster performance, at least to a significant extent.

20.Many foreign firms have been aggressively expanding their operations in China over the past

several years, due to deregulation and wider access to the local market than in the past.

21.They tend to view these goods as guaranteeing superior quality and premium services.

22.But AIM’s quality control is outsourced to 85 so-called Nominated Advisers, or Nomads.

23.The Ministry of Commerce issued new rules on mergers and acquisitions, including a number

of vague provisions that appear to give the ministry wide powers to review and halt mergers.

24.China will have no choice but to use whatever methods it has to recoup that lost share and

build up a stable of companies that can be serious competitors on a global scale.

25.What is needed is a workable way to implant entrepreneurial thinking inside the corporate

walls in such a way that wealth can be created on ongoing basis.

26.All of these fads had their moment in the sun, but none have been able to extend the

corporate life cycle appreciably.

27.Many CEOs have more power and influence over their compensation level than they should.

28.They devote more time to managing the company’s stock price (so they can exercise their

stock options) than they do to growing the business through organic growth or strategic expansion.

29.The IMF is also taking steps that address some of the misgivings about the way it has worked

in the past to prevent and resolve financial turmoil.

30.Due to the fact most of the work carried out by middle managers is hands-on, they can kill a

new idea.

31.They would rather look at the coherence of figures and check that they are consistent with

the strategy.

32.Determined never to be at the mercy of foreigners again, many Asian countries have since

built up huge foreign-exchange reserves as a buffer against financial shocks.

33.Some CEOs have encouraged their organizations to take large short-term risks and then

cashed out their options before the long-term problems appear.

34.They spell out previously unclear procedures for foreign purchases of Chinese companies.

35.There is a bias towards promoting those who toe the line which means the status quo

becomes entrenched deeply in the business.

36.In fact, any given manager is likely to be engaged in each of these activities during the

course of the day.

37.Ironically, one of the major reasons for its slide could be traced back to what had once been a

major strength.

38.By 1998, however, problems had become apparent, and no one could quite figure out what

was going on.

39.Mangers, by and large, focus on revenue and asset growth.

40.Consequently, many middle-managers view themselves as the protectors of the corporate

history, particularly in light of the fact that CEOs come and go more rapidly these days. 41.To plan for funding flows, financial managers want to know in advance the amounts of new

accounts payable as well as when they must be repaid.

42.This policy sets standards as to which buyers are eligible for what type of credit.

43. A developer of mechanical energy-storage devices (essentially batteries made of flywheels

rather than chemicals), the firm is beefing up production of some of its gadgets tenfold this year to quench demand.

44.Too tiny to trade on New York City’s NASDAQ, the company focused instead on another

market catering to ambitious upstarts like Vycon.

45.This is why some Chinese firms such as Haier and Lenovo are rapidly eating into their

foreign counterparts’ market share.

46.Eventually, these shoddy practices will catch up with foreign firms.

47.Yahoo! managers then began fashioning alliances with such diverse partners as Reuters ,

Standard & Poor’s, and the Associated Press, RE/Max, and a wide array of information providers specializing in sports, weather, entertainment, shopping, and travel.

48.In the end, it turned out that the problem had nothing to do with quality.

49.Toshiba used to be a high flyer in China’s notebook PC market, and had a firm hold on the

top spot for four consecutive years prior to 2000.

https://www.360docs.net/doc/a912147535.html, markets should accept that the flow of capital is global and will seek out the most

efficient and effective market places.

https://www.360docs.net/doc/a912147535.html,petition for venture capital is fierce and investors look hard at web star-ups, making a

good business plan essential. Joe Tabet and Albert Angehrn offer their advice.

52.If the business relies on building a critical mass of customers, initial investment in client

acquisition should be a priority.

53.Chinese manufacturer Lenovo was quick to jump on this by offering better services. It has

since grabbed the No 1 market position.

54.With his first official visit to China scheduled for this week, U.S. Treasury Secretary Henry

Paulson has been at pains to ease frictions between the world’s two largest trading partners.

55.The IMF puts China’s share in the world economy at 12.7%, well in excess of Japan’s 7.1%

share and India’s 4.8% portion, the next two largest economies in the region.

56.Because they represent a investment in products for which a firm ahs not yet received

payment, accounts receivable temporarily tie up its funds.

57.The game is about speed and scalability. The first one to scale up is most likely to keep the

competitive edge.

58.For example, if you want to offer features that competitors are not offering, but it will take

six months before you start up, competitors — particularly on the web — might by then have added these features.

59.Don’t use small type and never exceed 30 pages, including appendices. If readers want more,

they can ask; if they want less, they don’t know what to leave out.

60.Even if the idea is not unique, you can make a difference in the way you implement it — this

is what investors are looking for.

III.Questions (5’x2=10’)

1.Can you give an account of “China Model”?

“China Model”is a systematic approach to national structure and development that combines dynamic economic growth, a free market energized by a vigorous “non-public” (private) sector, concern for the welfare of all citizens, cultural enrichment, and a synergistic approach to rectify economic imbalances (Scientific Development Perspective) and ensure social fairness - all of which lead, in Hu's vision, to a Harmonious Society.

2.Why are some Chinese firms such as Haier and Lenovo rapidly eating into their foreign

counterparts’ market share?

Over the past several years, many Chinese firms have been aggressively improving their services, but some foreign companies have been slow to raise service levels in accordance with the expansion of their operations. This is why some Chinese firms such as Haier and Lenovo are rapidly eating into their foreign counterparts’ market share. Some have also attributed their rise to low-price strategies, however. Some multinationals are even adopting “double standards”that seem to discriminate against Chinese consumers, especially in terms of after-sales services.

3. What can be called a clear value proposition?

A clear value proposition will answer the following:

1）What kind of business are you in?

2）What do you provide and how?

3）Who are your target customers?

4. Why did Vycon trade on AIM?

Vycon’s executives decided to sell shares to the public. But Vycon is too tiny to trade on New York City’s NASDAQ, the company focused instead on another market catering to ambitious upstarts like Vycon. London’s Alternatives Investment Market (AIM) was a “global market for small companies, and it would put the company in a good light. When the business listed on AIM in March, investors poured in $18 million, fulfilling Vycon’s best hopes.

5. How many basic types of inventories are there? What are they?

1）The supplies that a firm purchases for use in production are its raw materials inventory.

2）Work-in-process inventory consists of goods that have moved partway through the

production process.

3）Finished-goods inventory consists of items ready for sale.

6. What’s the importance of corporate culture?

Corporate culture is a key issue. The culture sets the overall tone for an organization. It specifies which set of values; ethics and experiences will be deemed as desirable for the organization. The culture impacts on the organization’s efficiency in a number of ways, formal and informal.

IV.Sentence translation (5X4’=20’)

1.China's largest banks have announced plans in recent months to raise tens of billions of

dollars to meet stricter regulatory requirements and replenish capital after a record lending spree last year. 近月来，中国各大银行都已宣布计划，要筹集数百亿美元资金，以满足更严格的监管要求，并在去年掀起创纪录的放贷热潮后充实自己的资本金。

2.As with many other industries, China is emerging as the great hope for a global tourism

sector beset by challenges from recession to ash clouds and red-shirted uprisings.同其它许多行业面临的情况类似，对备受经济衰退、火山灰肆虐和红衫军起义等挑战困扰的全球旅游业来说，中国正成为巨大的希望。

3.One school of thought has it that the bulk of growth in recent years has been driven by

domestic demand rather than exports. 有一派观点认为，近年中国经济增长大部分是由国内需求、而非出口推动的。

4.Most international hotel groups run extensive training programmes in China but still face

problems finding and retaining qualified people.大多数国际酒店集团在中国都实施了大规模的培训计划，但是在招聘和挽留合格人才方面依然困难重重。

5.In spite of their difficulties in other parts of the globe, most of the world's largest hotel chains

have announced plans in recent weeks to expand significantly their presence throughout China, including in third and fourth-tier cities that most people outside the country have never heard of. 尽管在世界其它地区面临困境，但大部分全球最大的连锁酒店还是在最近几周宣布了大举扩张在华业务的计划。这些计划涵盖了那些外国人从未听说过的中国

三、四线城市。

6.The problems in China's housing market are more severe than those in the US before the

financial crisis because they combine a potential bubble with the risk of social discontent, according to an adviser to the Chinese central bank. 中国央行的一名顾问表示，中国住房市场的问题比金融危机前的美国更为严重，因为中国的问题结合了潜在的泡沫与社会不满的风险。

7.Worsening water shortages and the contamination of underground reservoirs mean that more

than 10 per cent of the country's crops are poisoned with heavy metals and other pollutants, posing a health hazard even to those who avoid drinking toxic water.水资源短缺的问题日益恶化，加之地下水资源遭到污染，意味着中国超过10%的农作物遭到重金属及其它污染物的污染，使那些不饮用污染水的人也受到健康威胁。

8.More than half of China's municipal wastewater is discharged without any treatment

whatsoever, with about 30bn tonnes of raw sewage pumped into lakes, rivers and the sea last year.中国一半以上的城市废水在排放时没有经过任何处理，去年约有300亿吨未经处理的污水排放到湖泊、江河和海洋中。

9.But the most serious threat to human health comes from the shocking levels of air pollution,

the result of the country's reliance on coal for 70 per cent of its energy needs and the desire of many urban residents to own their own car. 但是，对人类健康最严重的威胁来自令人震惊的空气污染程度，这是中国70%的能源需求依赖于煤炭，而且许多城市居民渴望拥有自己的汽车的结果。

10.Factories around the world have so far weathered the storm threatening the eurozone

economy, suggest data released yesterday. 昨日发布的经济数据显示，到目前为止，全球制造业经受住了威胁欧元区经济的风暴。

11.Meanwhile, Star River, another Guangzhou-based property developer, has appointed UBS

and Morgan Stanley to manage a listing expected to raise up to $1bn.同时，另一家总部设在广州的地产开发商星河湾已聘用瑞银和摩根士丹利处理上市事宜，预计将筹集至多10亿美元的资金。

12. A number of privately owned Chinese property developers have listed in Hong Kong recently

and dealmakers say that there are more in the pipeline.近来，许多中国内地私人地产开发商在港上市，投行人士表示，有更多公司正准备上市。

13. A key indicator of the health of US manufacturing showed that it recorded its 10th successive

month of growth and exceeded economists' expectations. 衡量美国制造业的关键指标显示，美国制造业连续第10个月增长，超出了经济学家的预期。

14.That pact would replace the current Kyoto protocol, which scientists say goes only a small

way to produce the emission reductions needed to avert disastrous changes to the climate.这将取代目前的《京都议定书》。科学家们声称，从避免气候发生灾难性变化所需的减排量看，《京都议定书》只是迈出了一小步。

15.In China, where consumer price inflation hit 2.4 per cent in March, the central bank

announced on the weekend that it would raise the amount banks must hold in reserve for the third time this year. 在中国，消费价格指数在3月份达到2.4%，央行在上周末宣布，今年第三次提高商业银行的存款准备金比率。

V.Passage Translation (10’)

China’s campaign of policy restraint was initiated last fall, with an increase in reserve requirements on bank deposits from 6% to 7% announced in late August and made effective in late September. That measure apparently didn’t work in arresting the rapid growth of the real economy. And so Premier Wen has been quite direct in warning that further forceful measures were being prepared to stem the excesses of bank lending. True to his word, the People’s bank of China unveiled a second tightening in late March and then a third action in early April. A failure to arrest the excesses of an overheated economy is perceived to be a recipe for the dreaded hard landing. China cannot afford such a dire outcome. It would have serious implications for unemployment and nonperforming bank loans thereby undermining the very reforms that are at the heart of the China Miracle.中国的政策抑制行始于去年秋季。银行存款准备金率从6%上调到7%的决定在八月下旬宣布，九月下旬开始生效。那项举措显然未能抑制实体经济的快速增长。因此温家宝明确警告将进一步采取措施抑制银行贷款过度的势头。果然，人民银行分别在三月下旬和四月上旬出台了第二和第三次紧缩措施。如果抑制经济过热的措施失败，势必会出现可怕的硬着陆。中国不能出现如此可怕的结果。硬着陆会带来失业和不良贷款的增加，从而直接危及创造了中国奇迹的改革。

Foxconn, the world's largest electronics contract manufacturer, has upped the scope of a planned pay rise for its workers in China by one-third, underscoring the growing pressures for better working conditions in the country's export manufacturing base. Wages for production workers in

all Chinese factories of Foxconn companies were raised by 30 per cent as of June 1, according to Hon Hai Precision, the group's Taiwan-based parent. Last week, Foxconn, which has been thrown into the international spotlight after a series of worker suicides at its manufacturing plant in Shenzhen, said it was planning to raise wages by an average of 20 per cent. Some labour activists had argued that Foxconn's initial increase was not as generous as it seemed. China Labour Bulletin noted that government authorities in Shenzhen, a manufacturing centre where Foxconn operates a large factory complex, would announce a 10-20 per cent hike in the minimum wage on July 1. The pay rise comes amid a surge of debate about pay and other conditions for migrant workers labouring in the Pearl river delta, a manufacturing belt in southern Guangdong province dubbed the “workshop of the world”.全球最大的电子合同制造商富士康(Foxconn)把原计划的中国工人加薪幅度提高了三分之一。此举突显出，在中国的出口制造基地，制造商们正面临越来越大的改善工作条件的压力。富士康的台湾母公司鸿海精密(Hon Hai Precision)表示，从今年6月1日起，富士康在中国所有工厂的生产工人全体加薪30%。由于富士康在深圳的制造厂出现一系列工人自杀事件，该集团已成为国际社会关注的焦点。富士康上周曾表示，它计划把工人的工资平均上调20%。一些劳工维权人士曾辩称，富士康最初计划的加薪幅度不像看上去的那么慷慨。《中国劳工通讯》(China Labour Bulletin)指出，深圳政府部门将宣布，7月1日起当地最低工资上调10%至20%。在深圳这个制造业中心，富士康拥有一个大型厂区。此次上调工资之际，正值人们围绕珠江三角洲农民工的薪酬和其它工作条件展开激烈辩论。珠三角是广东省南部的一个制造业产业带，被外界称为“世界工厂”。

China, the largest automobile market in the world, will launch a pilot programme to wean consumers away from fossil-fuelled vehicles by offering substantial purchase subsidies for green cars and financing for the construction of electric power charging infrastructure in five cities, the ministry of finance website said on Tuesday.Analysts say the high price of alternative-fuel vehicles is one of the biggest barriers to their widespread acceptance in China, where the high proportion of first-time car buyers makes the market very price sensitive. Sales of existing green vehicles such as the Toyota Prius have been very small because of price. Beijing, keen to improve air quality in China's rapidly expanding cities, and eager to reduce oil imports, said yesterday it would offer as much as Rmb50,000 ($7,300) subsidies for the purchase of plug-in hybrid electric vehicles and Rmb60,000 for pure electric vehicles, in Shanghai, Changchun, Shenzhen, Hangzhou and Hefei. 中国财政部周二通过其网站宣布，为使消费者逐步停止使用化石燃料汽车，中国将在五个城市启动一项试点计划，对私人购买新能源汽车提供高额补贴，并对充电基础设施建设提供资金支持。中国是全球最大的汽车市场。分析师们表示，替代燃料汽车价格高昂，是它们难以在中国得到普遍认可的最大障碍之一。在中国购车者中，首次购车者所占比例很高，因此中国汽车市场对价格非常敏感。由于价格因素，市面上现有的新能源汽车（例如丰田普瑞斯(Toyota Prius)）销量很小。中国城市快速发展，政府迫切希望改善空气质量，并减少石油进口。政府昨日表示，将在上海、长春、深圳、杭州和合肥等5城市，向私人购买插电式混合动力乘用车提供每辆最高5万元人民币（合7300美元）的补贴，向购买纯电动乘用车提供每辆最高6万元人民币补贴。