第五讲 投资指南翻译

合集下载

参考-投资指南相关文字翻译

参考-投资指南相关文字翻译

历史渊源History明代《天工开物》载曰:“古书名锡为贺者”,故贺州“以临贺产锡最盛而得名”。

自汉武帝元鼎六年(公元前111年)始置临贺县治,至今已有2000多年历史。

八步区贺街镇内至今仍保存完好的五代南汉城墙属国内罕见。

临贺县至三国吴黄武五年(公元226年)始置临贺郡,至隋开皇九年改置贺州。

贺州因地处湘粤桂交界处,自古就是中原与岭南经济往来的商业重镇,也是湘粤桂文化交流的岭南边城,还是“海上丝绸之路”黄金路段的中枢城廊。

当历史进入二十一世纪,贺州古城重焕青春。

2002年11月经国务院批准,撤销贺州地区(原梧州地区),成立地级贺州市,辖八步区、钟山县、富川瑶族自治县和昭平县。

Tian Gong Kai Wu, a history book written in Ming Dynasty of China, says, "Tin is named He in ancient books." hence Hezhou "gets its name from the production of tin at Linhe." It has been more than 2,000 years since the establishment of Linhe administration at county level in 6th year of Yuanding of the reign of Hanwu Emperor (111 B.C.). There still exist the city walls of Wudai Nanhan Dynasty which are well preserved in Hejie Town of Babu District, which is rare in China.Linhe was reestablished to be Linhe County i n 5th year of Huangwu of the reign Wu(A.D. 226), the Three-kingdoms Dynasty, and re-established to be Hezhou, which has been a vital strategic place of business, a frontier place of culture for central China with South China as well as a corridor along the "Marine Silk Route" due to its location at the border of Hunan, Guangdong, and Guangxi provinces.The ancient city of Hezhou is revitalized in 21th century. In Nov. 2002, with the approval of the State Council, Hezhou Prefecture (the former Wuzhou Prefecture) was replaced by Hezhou City at prefecture level, which has jurisdiction over Bubu District, Zhongshan County, Fuchuan County, and Zhaoping County.自然概况Naturaral Environment地理位置:贺州市位于广西东部,东与广东省清远市、肇庆市毗邻,北与湖南省永州市接壤,西与桂林市相接,南与梧州市相连。

投资决策的其它方案讲义(英文版)

投资决策的其它方案讲义(英文版)
period Biased against long-term projects Requires an arbitrary acceptance criteria A project accepted based on the payback
criteria may not have a positive NPV
❖ By the time you have discounted the cash flows, you might as well calculate the NPV.
6.4 The Average Accounting AAR A RevteA urB rvanog eRV o rN euakalegIeln oteucfIenovmeestent
投资决策的其它方案讲义(英文版)
6.1 Why Use Net Present Value?
❖ Accepting positive NPV projects benefits shareholders.
✓ NPV uses cash flows ✓ NPV uses all the cash flows of the project ✓ NPV discounts the cash flows properly
❖ Disadvantages:
Does not distinguish between investing and borrowing.
IRR may not exist or there may be multiple IRR Problems with mutually exclusive investments
❖ Another attractive but fatally flawed approach. ❖ Ranking Criteria and Minimum Acceptance

投资学英文课件 (5)

投资学英文课件 (5)
Introduction of the Financial Structure
Financial Markets and Systems
• The Financial System comprises
the mechanisms in an economy that allocate capital (a scarce resource) to its best possible use in order to achieve its growth potential.
What kind of Interest Rates ?
Nominal Interest Rate Real Interest Rate Realized Interest Rate Expected Interest Rate Compounded Interest Rate Risk Free Interest Rate Best Lending Rate Discount Rate Prime Rate Equilibrium Interest Rate Required Rate of Return Yield to Maturity Effective Return Deposit Rate Forward Interest Rate
How to compare investments over different holding periods?
EAR=Effective Annual Rate (annualized holding period return of a T-Bill or zero-coupon bond) APR=Annual Percentage Rate (often for investments < 1yr , also credit cards) Note is T 0, APR becomes continuous compounded

哈萨克斯坦阿斯塔纳投资指南

哈萨克斯坦阿斯塔纳投资指南

Guide to InvestmentAstana阿斯塔纳投资指南目录1Investment climate of Kazakhstan 哈萨克斯坦的投资环境 (4)2Astana:the city of the future阿斯塔纳的未来 (6)2.1General information概况 (7)2.2Astana’s competitive advantages阿斯塔纳的竞争优势 (7)3International investment forums国际投资论坛 (11)4EXPO 2017 international specialized exhibitions 2017年世界博览会 (11)5State support 国家支持 (12)5.1Special economic zone: Astana- A new city经济特区:阿斯塔纳-一个新的城市13 5.2Investor’s Service Center投资者服务中心 (15)5.3Investor 2020 program投资者2020项目 (17)5.4Business road map 20202020年业务路线图 (18)5.5Export 2020 program2020出口计划 (18)5.6Productivity 2020 program生产力2020计划 (19)6Strategic sectors of Astana’s economy阿斯塔纳经济战略部门 (20)6.1Mechanical engineering and metalworking机械工程和金属加工 (20)6.2Construction建设 (21)6.3Transport运输 (21)6.4Medicine and pharmaceuticals医学和制药 (22)6.5Tourism and sport旅游与体育 (23)6.6Information technologies and telecommunications信息技术和电信 (23)6.7Innovation革新 (24)7Public-private partnership 公共合作关系 (25)Page2Asta n a is the most intensively developing city of Eurasia. Its economy demonstrates sustainable growth. Since 2000, the gross regional product (GRP) of Astana has grown more than 24-fold, GRP per capita over 14-fold, reaching USD26.8 thousand, which is on par with some of the European Union nations.阿斯塔纳是欧亚大陆发展最繁忙的城市,它拥有可持续增长的经济能力。

国际投资C5ppt课件

国际投资C5ppt课件
26
跨国公司自身的因素
1.竞争优势。当跨国公司拥有工业产权与知识产权优势时, 一般会选择在东道国建立独资企业,这样既能保护其新技 术和产权,也可以获得超额利润。反之,若转移到东道国 的技术、产品已相对过时,往往不会考虑独资的方式。如 果跨国公司拥有在东道国从事经营所必需的主要资源,就 不会选择与别人分享股权的方式;如果以利用当地的资源 为主,那么大多会采取合资方式。
8
9
2 跨国经营集中化
6.3万家跨国公司(2001) 100家 FDI占1/3 75家 来自美英法德日 10家 占总资产的1/4
10
2008年全球10家最大的非金融业跨 国公司
11
2009年财富500强 前10名
2009排 名
2008排 名
公司名称
1
3
Royal Dutch Shell
2
2 Exxon Mobil
25
东道国方面的因素
当地合伙人情况主要看其是否有市场、营销渠 道、融资能力、与政府的关系,以及与跨国公 司的经营目标和理念是否一致等。跨国公司在 当地找到合适的合伙人时,往往会采取合资形 式,通过谈判确定股权份额,甚至会先与合伙 人以非股权安排的方式进行合作,待条件成熟 再考虑合资等方式。 3.社会文化因素。语言、价值观、生活方式及对 外来文化的接受能力和接受程度等。
有利于FDI 80 79 101 108 106 98 135 136 13l 147 974
不利于FDI 2
1 2 6 6 16 9 9 3 61
22
三、跨国公司对外投资的类型和方式
(一)类型 资源导向型投资 出口导向型投资:维护、拓展出口市场(规避贸易壁垒、中
间品出口) 降低成本型投资:廉价劳动力、运费、优惠政策 研究开发型投资:打破技术垄断封锁、获得先进技术;产品

证券投资中英文对照术语

证券投资中英文对照术语

《证券投资学》英文词汇实物资产real assets金融资产financial assets资产负债表balance sheet现金流量表statement of cash flows损益表income statement会计收入accounting earnings帐面价值book value流动比率current ratio速动比率quick ratio酸性测试比率acid test ratio资产周转率asset turnover (ATO)应收帐款平均收款期或应收天数average collection period or day’s receivvables 积极管理active management积极型资产组合active portfolio美式期权、欧式期权American depository \ European depository看涨期权call option看跌期权put option套利arbitrage套利定价理论arbitrage pricing theory资产配置决策asset allocation decision资本配置决策capital allocation decision银行贴现收益率bank discount yield银行承兑汇票banker’s acceptance基差basis基差风险basis risk二叉树模型binomial model布莱克舒尔斯顶界公式Black-Scholes formula大宗交易block transactions普通股common stock优先股preferred stock债券bond面值par value公司债券corporate bonds可赎回债券callable bond可卖回债券put bond可转换债券convertible bond信用债券或无担保债券debenture or unsecured bond现金/债券选择cash \ bond selection经纪人市场brokered market佣金经纪人commission broker牛市、熊市bullish \ bearish经济周期business cycle赎回保护期call protection资本利得capital gains资本市场capital market资本市场线capital market line (CML)现金交割cash delivery现金等价物cash equivalents清算所clearinghouse交易所exchanges股票交易所stock exchanges场外交易市场over-the-counter market抵押品collateral有担保的抵押债务collateralized mortgage obligation封闭型(共同)基金closed-end (mutual) fund整个资产组合complete portfolio固定增长模型constant growth model或有债权contingent claim交叉持股cross holdings经常项目current account衍生资产derivative asset衍生证券derivative security红利折现模型discounted dividend model (DDM)红利支付率dividend payout ratio可分散风险diversifiable risk分散化diversification有效分散化efficient diversification道氏理论Dow theory久期duration有效率边界efficient frontier欧洲美元Eurodollars超额收益excess return名义利率nominal interest rate真实利率real interest rate实际复利realized compound yield汇率exchange rate汇率风险exchange rate risk(利率的)预期假定expectations hypothesis (of interest rates) 预期收益expected return面值face value因素模型factor model金融资产financial assets金融中介financial intermediary财政政策fiscal policy固定收益证券fixed-income security浮动利率债券floating-rate bond外汇市场foreign exchange market外汇互换foreign exchange swap利率互换interest rate swap远期合约forward contract远期利率forward interest rate期货合约futures contract期货期权futures option期货价格futures price基本面分析fundamental analysis套期保值hedging持有期收益holding-period return指数模型index model指数期权index option通货膨胀inflation首次公开发行initial public offering内部信息inside information内幕交易insider trading清偿价值liquidation value(企业的)内在价值intrinsic value(of a firm)期权的内在价值intrinsic value of an option投资银行investment bankers投资级债券investment-grade bond垃圾债券junk bond投资组合investment portfolio一价定律law of one price流动性liquidity流动偏好理论liquidity preference theory流动性溢价liquidity premium市场或系统风险market or systematic risk非系统风险nonsystematic risk交易所的会员或席位membership or seat on a exchange 最小方差边界minimum-variance frontier最小方差资产组合minimum-variance portfolio最优风险资产组合optimal risky portfolio现代资产组合理论modern portfolio theory (MPT)资产组合管理portfolio management货币政策monetary policy货币市场money market抵押担保证券mortgage-backed security转手证券pass-through security单因素模型single-factor model单指数模型single-index model多因素CAPM模型multifactor CAPM共同基金mutual fund开放型基金open-end fund纳斯达克Nasdaq消极投资策略passive investment strategy 消极管理passive management消极型资产组合passive portfolio消极策略passive strategy波峰peak市盈率price-earnings ratio市盈率效应P/E effect公司利润再投资率plowback ratio溢价premium原生证券primitive security衍生证券derivative security一级市场primary market二级市场secondary market本金principal利润率profit margin公开发行public offering私募private placement随机漫步random walk资产收益率return on assets (ROA)股本收益率return on equity (ROE)销售收益率return on sales (ROS)风险套利risk arbitrage风险厌恶risk-averse风险中性risk-neutral风险偏好者risk lover无风险资产risk-free asset无风险收益率risk-free rate风险溢价risk premium风险资产risk asset证券化securitization证券分析security analysis证券市场线security market line证券选择security selection有效市场假定efficient market hypothesis 强有效市场假定strong-form EMH半强有效市场假定semistrong-form EMH弱有效市场假定weak- form EMH资产分割separation property短期利率short interest rate空头头寸short position套期hedge卖空short sale投机speculation投机级债券speculative-grade bong即期利率spot rate股票选择上stock selection股票拆分stock split止损指令stop-loss order对敲straddle技术分析technical analysis基本分析利率期限结构term structure of interest rate时间价值time value三级市场third market国库券treasury bill中长期国债treasury bond or note承销underwriting波动性风险volatility risk认股权证warrant周末效应weekend effect充分分散化的资产组合well-diversified portfolio 收益率曲线yield curve到期收益率yield to maturity零息票债券zero-coupon bond零投资组合zero-investment portfolio欢迎您的下载,资料仅供参考!致力为企业和个人提供合同协议,策划案计划书,学习资料等等打造全网一站式需求。

投资学博迪中文版

投资学博迪中文版

12-13
套利限制和一价定律
? 股权拆分上市 – 3Com 公司和子公司 Palm – 套利限制是无法卖空子公司的股票了
? 封闭式基金 – 在资产净值基础上折价或溢价出售 – 也有其理性预期收益的解释
12-14
泡沫与行为经济学
? 泡沫在结束后才更容易被发现。
– 互联网泡沫 – 房价泡沫
12-15
是利用任意数字算出的股票收益。 ? 图12.9 描述的是图12.8对应的每周股价变化,
可以看出其明显的随机性。
12-27
图12.8 52周真实股价和模拟价格
12-28
Figure 12.9 52 周真实股价和模拟价格波动
? 模型风险:
– 你可能使用了错误的模型,而实际上的股票价 格可能是正确的。
12-11
套利限制和一价定律
? 连体双婴公司 – 皇家荷兰的股票售价是壳牌运输 的1.5倍。 – 其相对价值在很长一段时间内都 偏离了这个比例。 – 基本面风险的例子
12-12
图12.2 皇家荷兰与壳牌运输的价格比值 l (与平价比率的偏离 )
4. 忽视样本规模和代表性 : 投资者基于小样本过快 地推出一种模式,并推 断出未来的趋势。
12-5
行为偏差
? 即使信息处理过程非常完美,人们也不 能利用这些信息进行完全理性的决策。
例如: 1.框定偏差:
– 风险是如何描述的,是“面临有风险的可 能损失”还是“面临有风险的可能收益”, 可能会影响到投资者的决策。
12-20
趋势和修正: 移动平均
? 在一定期间内指数的 平均水平。
? 牛市信号:股票价格 从低位上穿突破移动 平均线,购买股票的 时机。
? 熊市信号:股票价格 跌到移动平均之下, 出售的时机。

宏观经济学之投资和储蓄 Investment and saving(精品PPT课件共68页)

宏观经济学之投资和储蓄 Investment and saving(精品PPT课件共68页)

Financial capital
• The funds that firms use to buy and oprate physical capital
investment
Investment
• Is the purchase of new capital goods and additions to inventories(存货).
SS
实际利率下降
均衡
ID
储蓄短缺—— 实际利率上升
0
4
6
8
10
世界储蓄与世界投资(1992年万亿美元)
/
解释实际利率的变动
学习目标(续)
解释政府如何影响实际利率、储蓄 解释如何决定国际借贷
政府的作用
部分资本存量来自政府投资。 投资由总储蓄而筹资,总储蓄包括私人
储蓄和政府储蓄。 因此,政府行为影响投资、储蓄和实际
世界经济的均衡
如果两个风险相同的国家利率不同,人 们就会在利率较低的国家借款,并贷给 利率较高的国家。 两个国家的利率会很快变得相等。
世界资本市场的均衡
实际利率
(百分比/年)
a
4
b
6
c
8
投资
储蓄
(1992年万亿美元)
8
5
6
6
4
7
世界资本市场的均衡
12
实 际
10
利率8(ຫໍສະໝຸດ 百 分6比
年4

2
储蓄过剩——
What people owns ≠ what they earn People earn an income,which is the amount
they receive during a given time period from supplying the services of the resources they own.
  1. 1、下载文档前请自行甄别文档内容的完整性,平台不提供额外的编辑、内容补充、找答案等附加服务。
  2. 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
  3. 3、如文档侵犯您的权益,请联系客服反馈,我们会尽快为您处理(人工客服工作时间:9:00-18:30)。

第五讲:投资指南的汉英翻译原则
Part I: 小组讨论,指出英语译文中存在的各种错误。

前途无量的经济技术开发区
大亚湾开发区是当今中国最具发展潜力的国家经济技术开发区之一,很少有哪一个地区能够像她一样,同时拥有以下五个方面的发展优势:一是自然条件得天独厚。

既可以建设世界级的大型深水良港,又拥有大面积的尚未开发的腹地,而且旅游资源和淡水资源都很丰富,单从发展临海型工业和海滨明星城市的先天条件来看,在中国沿海是不多见的。

二是区位优势非常明显。

紧靠香港特别行政区和深圳经济特区,可以接受他们多方面的牵引和幅射;同时,又属于珠江三角洲经济区和京九铁路线经济带的一部分,是中国和广东省要优先发展的地区之一。

三是大型项目相对集中。

除了举世瞩目的南海石化项目外,还有东风汽车生产基地、天然气发电厂等特大型项目以及一批与南海石化项目相关的大型项目。

四是战略地位极其突出。

南海石化项目作为技术领先型的原材料企业和迄今最大的中外合资项目,必将成为中国石化工业的“火车头”,并大幅度提高广东省利用外资的水平:而大亚湾作为广东省重要的基础工业基地,不仅将促进本省产业结构的优化和升级,还将直接成为广东省今后促进经济增长的主要引擎和带动区域经济发展的核心地区之一。

五是投资环境十分优越。

机场、铁路(国家已批准建设)、港口俱全,公路网四通八达,供水、供电、通讯事业超前发展,生活环境比较舒适,高素质、低成本的劳动力资源丰富:享有相当于经济特区的优惠政策,政府部门思想解放,熟悉市场经济的国际惯例,服务意识强,办事效率高,等等。

总之,大亚湾开发区集中展现了中国沿海地区的综合优势,确实是一方不可多得的投资宝地。

我们热诚欢迎国内外朋友来大亚湾开发区参观、考察和投资发展事业,并诚心诚意为投资者提供广泛的发展领域和便利条件,以及文明、优质、高效的服务,特别是对基础设施建设和高新技术项目,我们将尽可能给予政策上最大的优惠。

我们愿意和广大投资者一起,共同创造大亚湾美好的明天。

原译:
DAY ABAY——APROMISING ECONOMIC DEVELOPMENT ZONE Daya Bay. Development Zone is one of the most promising Its state economic and technological development zones in present China. V ery few zones can compare with advantages as following;
A: Its excellent natural conditions where large deepwater berths of world level can be built with a large area of under-developed hinterland rich in tourist and fresh water resources as well. It has few competitors along the Chinese coastline concerning alone the natural conditions to develop the coastal-type industries and the coastal star city.
B: The obvious geographic advantage. It is adjacent to Hong Kong and Shenzhen Economic Special Zone whose influence is immense upon Daya Bay Zone. Meanwhile ahe is one of the pearl River Delta Economic Zone and one part of the Beijing- Kowloon Railway Economic Belt and also one of the priority development regions of Gusngdong province.
C: A good concentration of large items is present here. Except for world-famous South-China sea patrol Chemical project, there are still Dongfeng Automobile Production Base, Natural Gas power plant here and other large relevant enterprises in relation with South China Sea petrol Chemical projects:
D: Its strategically prevailed location is extraordinary outstanding As a manufacturer of technologically advanced raw materials and the largest Chinese and foreign joint venture, South China Sea Petrol and Comical Project will certainly be the locomotive of Chinese petrol and chemical industry which will largely update the level of utilization of foreign capital in Guangdong province. As a major base industrial base of the province Deya bay will help promote the industrial structure renovation and update. It will directly makes itself the leading engine of the provincial economic growth and one of the kernels of the region in terns of economic development.
E: Daya Bay enjoys an excellent investment environment. Airport, railway (approved already by state for construction), good port facilities and a good net of highways, water and power supply and telecommunication service are excellently developed Here you can enjoy a good living condition and a good supply of high-educated, low cost labour force, As we enjoy a good the favorable policies of economic zone, our government officials are open minded and know well the running of market economy and international practice. We are redocted to our good service and high efficiency.
After all Daya Bay Development Zone can show you a synthetic privilege of Chinese near sea regions and proves herself to be an excellent investment land. We sincerely welcome you, abroad or at home, to visit us for your survey and investment. We will offer you a wide development field and convenient conditions. With civilized, excellent and efficient conditions. With civilized, excellent and efficient service we will try our best to offer you most favorable policies, especially in terms of basic facilities and high-tech items.
Let’s put our efforts together and create a better tomorrow.。

相关文档
最新文档