英语新闻短文

英语新闻短文篇一：英语新闻评论阅读

英语新闻评论阅读 1

Passage 1The cost of traffic jams (The Economist 2104-11-3)

FEW things unite cultures more than the frustration of sitting in a line of stationary traffic, with no discernible reason for the blockage and no end in sight. From London to Los Angeles, Berlin to Bangalore, seething anger at standstills is a common

emotion felt by all drivers. The causes of traffic jams are well understood (accidents; poor infrastructure; peak hour traffic; and variable traffic speeds on congested roads). But what is the cost of all this waiting around?

The Centre for Economics and Business Research, a London-based consultancy, and INRIX, a traffic-data firm, have estimated the impact of such delays on the British, French, German and American economies. To do so they measured three costs: how sitting in traffic reduces productivity of the labor force; how inflated transport costs push up the prices of goods; and the carbon-equivalent cost of the fumes that exhausts splutter out. In 2013 the expenses from congestion totaled $200 billion (0.8% of GDP) across the four countries. As road building fails to keep up with the increasing numbers of cars on the road, that figure is expected to rise to nearly $300 billion by 2030. Two-thirds of the costs incurred are the result of wasted fuel and time that could be better spent elsewhere, and the remainder from increased business expenses.

But these numbers mask huge variation within countries. In America the average cost of congestion to a car-owning household is estimated to be $1,700 a year; in France it is $2,500. But traffic is so bad in Los Angeles that each resident loses around $6,000 a year twiddling their thumbs in traffic—at a total cost of $23 billion, the costs are estimated to exceed that of the whole of Britain. But these costs do not take account of the price of carbon-dioxide emissions. In total, over 15,000 kilotons of

needless CO? fumes were expelled last year—which would cost an additional $350m to offset at current market prices. In choked-up Los Angeles $50m alone would have to be set-aside.

Solving congestion is not easy. Building more roads or widening existing ones can encourage more cars on to the roads, says Dominic Jordan, INRIX’s chief data scientist. Indeed, investment, employment growth and buoyant GDP are all

contributors to increased traffic and associated costs: when people feel richer, they splurge on cars and petrol. Smart road networks that charge road users for travelling at busy periods or that nudge drivers, using electronic signs, to drive at a more uniform speed, could help. More electric cars will bring down carbon emissions, while driverless ones could one day consign traffic jams to history. But until then drivers will remain stuck in second gear, and the costs will continue to pile up.

Passage 2 The next Alibaba in China (China Daily) Updated: 2014-9-19

The success of Alibaba, China’s e-commerce giant, is part of the country’s economic miracle and, as the world’s second-largest economy restructures itself to regain growth momentum, there could be more companies in China that turn out to be equally successful as Alibaba in the coming decades.

The company’s white-hot IPO in the US, which is expected to be the biggest stock offering on record, has made the headlines worldwide. Having 80 percent of the vast Chinese e-commerce market, the company has been deemed as a typical success story of how an obscure grassroots company takes the advantage of the Internet wave to become a household name within a short time of 15 years. Now taobao.com, its retail arm, has nearly 500 million registered users, according to the company.

It is miraculous for a small group of people, led by founder Jack Ma, to start from the scratch in a small apartment of Hangzhou 15 years ago, compete head-on with

international giant eBay, and stand out to rule the China market. Entrepreneurship no doubt is behind Ma and his team, who have become the trailblazers and rule makers of the e-commerce sector in China.

The surging e-commerce transactions have profoundly transformed China’s economic landscape. It has helped increase consumption, create jobs, and, perhaps most importantly, unleash the business-doing aspirations of millions of Chinese people. Some college graduates, for example, have opted not to find a job but operate their own e-shops at taobao.com and become quite profitable.

While Alibaba and other e-commerce companies have contributed to China’s economic growth, they have benefited tremendously from an ever more open and liberalized Chinese economy. It is no exaggeration to say that without the back-up of the China market, Alibaba should not have become that popular in its pre-IPO road shows in the US. In other words, investors’ zeal is not only built on the profit-making prospects of the company, but the future of the Chinese economy where it is born and grows up.

As a transitional economy, China has had a long history of rigid economic regulation that forbids private economic elements in the pre-reform era. After it opened up in late 1970s, economic regulation has been gradually liberalized, leading to vigorous

growth of the private sector, which has become a crucial contributor to GDP, taxes and jobs. Still, only a very small number of private companies have gained international clout.

Such lack of Chinese private brands with global weight can be attributable to, among other things, the country’s economic growth pattern that is reliant on quantitative expansion featuring low-end manufacturing and investment. Such a quantity-based model has elevated the country to the second place globally in terms of nominal GDP, but has failed to help the country churn out many big brand names that can be comparable to Coca-Cola and Google.

In terms of IPO scale, Alibaba will become the largest ever in history. Meanwhile, the capitalization of some Chinese Internet companies, such as Baidu and Tencent, has exceeded that of many American giants. But their influence, pitifully, has mainly been limited to the domestic market.

China is now implementing the second-phase economic restructuring as it upgrades its manufacturing sector, promotes the services industries, encourages consumption and, in particular, promotes innovation, especially technical innovation, to sharpen its global competitive edge.

To that end, it is further liberalizing its economic regulation to facilitate business doing and encourage market competition. A typical example is its move to simplify procedures for starting and operating businesses by eliminating approval items or transferring them to the lower-level governments.

If China can stick to such business-friendly stance and the local governments can seriously carry out the central platform, the Chinese economy would become more competitive after some years of painful transition, which will sow the seeds for the exceptional growth of more Alibaba-like grassroots companies.

The next Alibaba will hopefully stand out from those start-ups.

Passage 3 Role of art and literature (China Daily) Updated: 2014-10-16 07:38

From the people, to the people and for the people is what top leader Xi Jinping told a group of luminaries from the world of art and literature at a Wednesday forum. Writers and artists have to go to the people for artistic and creative nutrition and intuition; they can ignore to do so only if they don't care whether their creations are liked or not.

Chairman Mao Zedong delivered a similar speech at the Yan'an Forum in Shaanxi province 72 years ago, emphasizing that the aim of literature and art should be to serve the workers, farmers and soldiers. Given the background of war, Mao's speech could not have had a lighter political tone.

At Wednesday's forum, Xi did talk about patriotism, core socialist values and the role of art and literature in representing the characteristics of the times and social values. But he also emphasized the integration of ideology and artistic values.

Democracy should be promoted in art and literature to create a healthy, relaxed and harmonious atmosphere for the creative minds, he said, stressing that exchange of ideas among different opinion groups and different schools of thoughts is necessary to invigorate the development of art and literature.

Indeed, art and literature cannot develop without political guidance nor can they be allowed just to cater to the vulgar tastes of some people. Good writers and artists across the world know that they do not just entertain their readers and audiences with their works, but also provide them with some mental fare that, in a subtle manner, will inspire or help them distinguish between right and wrong.

However, it would be sad to underestimate the aesthetic tastes of general readers and audiences by overemphasizing the role of ideological guidance in a piece of literary or art work. The majority of readers and viewers will never be attracted to works that contain nothing but moralizing platitudes.

Albeit, works of literature and art that appeal to vulgar tastes will probably gain larger readership and audience for some time, but after an ephemeral life they will end up where they rightly belong - the dustbin of history. That explains why Xi said that works of art should never be slave to the market and coveter of profits.

Good writers and artists must know what they are doing if they want to create works that transcend the times and help inscribe their names in the pantheon of greats. This is the type of writers and artists that China needs today.

Other Views:

Traditional Chinese culture is a dynamic, tolerant system that evolves constantly. For example, it seeks a society where everybody has good manners, yet respects the personality of every individual within the emerging concept of human rights. It praises humankind's efforts to make the natural world support its survival, yet promotes harmony between human and nature when the environment needs protection. It is self-renewal that gives a culture vitality.

Nanfang Daily, Oct 15

Reviving traditional culture does not mean wearing old-fashioned clothes or eating traditional foods; we need to absorb the useful parts from the culture to strengthen the moral principles of today's society. During this process, traditional culture will progress creatively, giving spiritual support to sustain the Chinese nation.

xinhuanet.com, Oct 15

Efforts to combine traditional Chinese culture with contemporary values have been going on since the start of modernization and globalization, yet much more work must be done. In the current phase of social transition, finding ways to use traditional culture to forge a common identity among different social groups remains a challenge. Beijing Post, Oct 15

Different aspects of traditional Chinese culture have met different ends. Elements that conflict with today's concepts of freedom and equality - such as the people's unconditional obedience to the ruling class, and the idea that women are inferior to men - have been abandoned. Principles that are in line with our modern values persist, among them social justice, equality and harmonious relations with other members of society.

zjjnews.cn, Oct 15

Traditional culture must be taught in school so that it becomes firmly rooted in people's hearts. However, problems occur, as many teachers emphasize reciting rather than understanding, or turn cultural teaching into moral persuasion, which tends to be unpopular with pupils. It is necessary to combine the reciting of texts with understanding in traditional culture education so that pupils can grasp what they are being taught and accept it.

China Education Daily, Oct 15

英语新闻短文篇二：中英双语双语文章

研究：狗也有嫉妒心

Dogs can be jealous, say scientists——

Dogs are prone to complex emotions such as jealousy and pride, according to scientific research that sheds new light on their relationship with humans.

Canines do not like seeing their owners offering affection to other creatures, especially other dogs, and react negatively when their owners bring home new partners, the research found.

Psychologists previously believed most animals lack the "sense of self" needed to experience so-called

secondary emotions such as jealousy, embarrassment, empathy or guilt. These emotions are more complex than feelings associated with instant reaction – such as anger, lust or joy.

Dr Friederike Range, of the University of Vienna's neurobiology department, has shown that dogs feel intense jealously when they spot that they are unfairly treated compared with other dogs. "Dogs show a strong aversion to inequity," she said.

The dog study is the latest into several species, including cows, horses, cats and sheep, which have shown that animals are far more self-aware than was thought.

Dr Paul Morris, a psychologist at the University of Portsmouth who studies animal emotions, told The Sunday Times: "We are learning that dogs, horses, and perhaps many other species are far more emotionally complex than we ever realised. They can suffer simple forms of many emotions we once thought only primates could experience."

In research among dog owners, Dr Morris found almost all of them reported jealous behaviour by their pets. The dog often tried to prise their owner away from a new lover in the early days of a relationship.

Behavioural experts recommend owners keeping their dog's routine as much as possible when a new partner or child comes along in order to prevent jealous activity from the dog such as interruptions with barking or whining.

一项科学研究表明，狗也会产生嫉妒和骄傲等复杂的情感。该研究进一步揭示了狗与人之间的关系。 研究发现，狗不愿意看到自己的主人对其它动物，尤其是其它的狗表现出关注。当主人把新男友或女友带回家时，它们也会表现出抵触情绪。

此前，心理学家认为大多数动物缺乏体会嫉妒、困窘、移情和内疚等高级情感的―自我意识‖。这些情感远比愤怒、欲望或高兴等与即时反应相关的情感复杂。

奥地利维也纳大学的神经生物学博士弗里德里克?朗格称，当狗意识到自己得到的关注不如其它狗，即受到了不公正待遇时，就会表现出强烈的嫉妒情绪。她说：―狗对不公正十分抵触。‖

此前研究人员已对牛、马、猫、羊等动物进行了类似研究，结果表明，动物的自我意识远远超出人的意料。

朴茨茅斯大学从事动物情感研究的心理学家保罗?莫里斯在接受《星期日泰晤士报》采访时说：―我们发现狗、马，可能还有其他很多动物的情感比我们预想的丰富得多，它们同样会表现出多种简单的感情形式，而之前我们以为只有灵长类动物才具有这样的高级情感。‖

此外，莫里斯对养狗人开展的一项调查发现，几乎所有人都称他们的宠物狗有过嫉妒行为。比如，在他们把新男友或女友带回家的最初几天，他们的狗总是想方设法让他们远离对方。

行为学家建议，当家里出现新成员时，尽量不要打乱宠物狗的生活规律，以避免它们因为嫉妒而狂吠或哀嚎。

Dogs are prone to complex emotions such as jealousy and pride, according to scientific research that sheds new light on their relationship with humans.

Vocabulary:

aversion:A fixed, intense dislike; repugnance（反感；厌恶） 总统模拟游戏即将出炉 玩家试当奥巴马

Gamers can pretend to be President Obama

A computer game set to hit US stores the day Barack Obama is sworn in as president challenges players to see whether they can do a better job running the country than he can.

Interactive Gaming Software (IGS) said on Monday it would make Commander in Chief available on January 20, the day of Obama's inauguration.

'Player presidents' will make budget, health, education, military, diplomatic and other decisions in simulated environments and have to virtually live with the ramifications of their choices.

Commander in Chief will give players information from 50 international organizations including the UN, NATO and OPEC.

"You can put your own political theories into action and see the domestic and international domino effect," lead designer Louis-Marie Rocques had said in April.

"Anyone will now be able to develop their own exit strategy for Iraq, reverse the course of the economic recession and attempt to prevent terrorist attacks from Al-Qaeda." Throughout the game there is a threat of terrorist strikes or invasion by foreign troops.

Players will start by selecting cabinet members and then go on to tackle the same social, environmental, economic, energy, cultural and military issues facing Obama's administration.

美国一家游戏公司将于明年奥巴马就职日当天推出一款模拟总统的电脑游戏，在这款游戏中，玩家可以一尝当总统的滋味，与奥巴马一比高下。

美国IGS游戏公司于本周一宣布，他们将于明年1月20日奥巴马就任总统当天推出这款名为―总司令（Command in Chief）‖的游戏。

―模拟总统‖将在游戏模拟的环境中制定预算以及医疗、教育、军事和外交各个方面的政策，并且他们所做的任何决定都会有后续影响。

游戏将向玩家提供包括联合国、北约和欧佩克在内的50个国际组织的信息。

游戏主设计师路易斯-玛丽?若克斯于今年四月称：―玩家可以将自己的政治理念付诸实施，看看会在国内外引起什么样的连锁反应。‖

他说：―每位玩家都可以设计从伊拉克撤军、振兴经济以及?反恐‘等有关各个问题的方针。‖玩家在游戏中还会面临恐怖袭击以及外国军队入侵的威胁。

游戏开始时玩家首先要选择内阁成员，接下来要处理与奥巴马政府所面临的一系列同样的问题，包括社会、环境、经济、能源、文化和军事等各个方面。

Vocabulary:

swear in:宣誓就职

live with:忍受

ramification: A development or consequence growing out of and sometimes complicating a problem, plan, or 男女快乐感有别 男爱钱女重情

Women find happiness is not about the economy, stupid

Men are happier with money, while women find greater joy in friendships and relationships with their children, co-workers and bosses, a new global survey reveals.

The online survey of 28,153 people in more than 51 countries by global marketing and information firm

Nielsen found that as the world grapples with a recession and financial markets remain volatile, many people are reminding themselves that money can't buy happiness.

The Nielsen Happiness Study found that globally, women are happier than men in 48 of the 51 countries surveyed in April 2008, and only in Brazil, South Africa and Vietnam were men found to be happier than women.

"Because they are happier with non-economic factors, women's happiness is more recession-proof which might explain why women around the world are happier in general than men are," Nielsen Vice President of Consumer Research Bruce Paul said in a statement.

Japanese women reported the greatest difference and are 15 percent happier than Japanese men. Women are also more optimistic about the future, scoring higher than men on predictions of their happiness in the next six months.

Women were also more content with their sex lives, the study found. Japanese and New Zealand women reported the greatest difference in satisfaction with their sex lives.

Men are generally happier with their physical health than women, and this is especially pronounced in South Africa. Egypt bucks the trend, with women rating their happiness with their health considerably higher than men.

Globally, men rated their happiness with their mental health higher than women. This was echoed in Belgium, South Korea, Mexico, Norway, Spain, Sweden, Egypt, and Israel.

There are three main drivers of happiness globally, according to the study: personal financial situation, mental health and job/career. Being satisfied with your partner is also important for happiness.

Vocabulary:

grapple with:抓住；扭打（例句：He has been grappling with the problem for a long time. 长期以来他一直努力解决这个问题.）

volatile: Tending to vary often or widely, as in price（易波动的，不稳定的：易于经常或大幅度变化的，如价格）

一项最新的全球调查显示，男人因金钱而快乐，而女人的快乐感更多地源于友情以及与孩子、同事和老板的关系。

这项由尼尔森全球营销信息公司开展的在线调查共有来自超过51个国家的28153人参加。调查结果显示，面临目前的全球经济衰退和金融市场的动荡，很多人开始提醒自己金钱并不能买到快乐。

这项于今年四月开展的―尼尔森快乐感大调查‖表明，在参与调查的51个国家中，有48个国家的女性比该国的男性快乐，只有巴西、南非和越南例外。

尼尔森公司消费者调查部副经理布鲁斯?保罗在声明中称：―由于女性的快乐感更多地取决于非经济因素，所以她们的快乐感不易受到经济危机的影响。这或许可以解释为什么从全球范围来看女性的快乐感总体高于男性。‖

日本女性的快乐感比男性高15%，在被调查国家中差距最大。同时女性对未来更加乐观，对未来六个月快乐感的预期也超过男性。

此外，调查发现，女性对性生活的满意度更高。日本和新西兰的男性和女性对性生活的满意度差距最大。

健康给男性带来的快乐感总体高于女性，这在南非尤其突出。而在埃及正好相反，女性从健康中获得的快乐感大大高于男性。

从全球范围来看，男性从心理健康中获得的快乐更多。比利时、韩国、墨西哥、挪威、西班牙、埃及和以色列的调查结果都反映了这一趋势。

调查表明，从全球范围来看，个人经济状况、心理健康和工作/事业是三大主要的快乐之源。而与伴侣的关系是否和睦对于快乐感也至关重要。

威尼斯发大水 酒店打雨靴促销牌

Venice hotel owners offer free boots for floods

Venice hoteliers are urging tourists to enjoy the tourist mecca despite chronic flooding, offering free rubber boots for guests to slosh around the Renaissance city.

"Venetian hoteliers and Mayor Massimo Cacciari reassure tourists who want to come in Venice: Don't worry, there is no danger: high water is a phenomenon that quickly disappears," says an industry website,

www.veneziasi.it.

A special 190 euros (250 dollar) a night package includes "free use of rubber boots to walk during the high water," along with a map showing where special platforms are erected along the canal city's streets during the flooding.

Venice has been under water for nearly two weeks, reaching a 22-year high on December 1 at 1.56 meters (5 feet, 2 inches). Thursday and Friday are expected to see highs of up to 1.30 meters.

The lagoon city was flooded 50 times between 1993 and 2002, but by far the worst incident was on November 4, 1966, when it was submerged by 1.94 metres of water amid catastrophic flooding throughout Italy.

Every new flood revives debate over an elaborate project to place hinged panels at the inlets leading into the lagoon.

Cacciari is among critics of the so-called Moses Project, which was launched in 2003 and is not expected to reach completion until 2012.

Under the scheme, 78 steel panels will lie on the seabed until activated when high tide is more than 1.1 metres above normal.

Compressed air will then force the panels to rise up on their hinges, forming a slanting barrier to the incoming tide from the Adriatic Sea.

Another approa

ch under consideration is to raise the city's buildings.

Under Operation "Rialto", piston-supported poles would be placed beneath each structure and gradually lift buildings by up to a metre.

Vocabulary:

hotelier:旅馆经营者

slosh:在水[泥]中挣扎[乱走]

submerge:Growing or remaining under water（在水中；被淹没）

（意大利）文艺复兴之城、―水城‖威尼斯近日遭遇洪水侵袭，一些酒店利用水涨之机，打起了促销牌，即住店游客可免费使用酒店提供的雨靴，体验水中漫步威尼斯的乐趣。

据意大利酒店业协会网站（www.venezias.it）称：―威尼斯的酒店和市长玛西莫?卡西亚利给想来威尼斯旅游的游客们吃了颗定心丸：别担心，不会有危险：水很快就会退。‖

酒店打出的促销广告是：190欧元（250美元）住店一晚，即可―免费使用酒店提供的雨靴‖和地图，这张地图可让游客们知道沿街哪些地方有可供―上岸‖的平台。

威尼斯的大水已经持续近两周，本月1日的水位达到22年来最高水平，为1.56米（5 英尺2 英寸），本周四和周五预计将达1.3米。

从1993年至2002年，―水城‖威尼斯共发过50次洪水。但是迄今为止最严重的一次洪水发生于1966年11月4日，当时意大利全国遭遇特大洪水侵袭，威尼斯的水位则涨到了1.94米。

为了治理水患，威尼斯正在兴建一个防洪工程，拟在威尼斯通往海洋的入海口处建多个活动闸门，而每次发洪水都会引发有关该工程的争议。

现任市长卡西亚利就是这项工程的反对者之一。这项名为―摩西工程‖的防洪设施于2003年启动，预计将于2012年建成。

该工程计划在海床上建78个钢板，当水位超出警戒线1.1米以上时，挡板就会被启动。

这些挡板在压缩空气力量的作用下会竖立起来，从而形成一个倾斜的屏障挡住来自亚得利亚海的洪水。 还有一个方案是加高威尼斯全城建筑的高度。

按照这项―Rialto‖（里亚托桥，威尼斯最著名的桥）计划，将在建筑物底部置入活塞柱，使建筑物整体增高1米。

美商界女性职业前景看好

No advance for women in top U.S. jobs

Women in 2008 made no significant gains in winning more top US business jobs, according to a study

released on Wednesday, but the head of the study said women are poised to make strides in the year ahead. The number of women who were board directors, corporate officers or top earners at Fortune 500 companies remained essentially unchanged, said the study by Catalyst, a nonprofit group that promotes opportunities for women in business.

英语新闻短文篇三：财经英语新闻文章

2012年03月22日 07:33 AM

捷豹路虎与奇瑞结盟

Jaguar Land Rover?forges China deal

英国《金融时报》 约翰?里德 伦敦报道

Jaguar Land Rover is to form a joint venture with China’s Chery Automobile in the UK premium carmaking group’s first foray into manufacturing in the world’s largest car market, writes John Reed in London.

Indian-owned JLR and Chery said on Wednesday that they had reached

agreement on a proposed joint venture that would build vehicles under the British group’s two brands, as well as those of the joint company itself. The two companies did not disclose financial terms of the deal, which still must be approved by Chinese regulators.

China requires foreign carmakers

wishing to build vehicles locally to form joint ventures and recently began requiring them to establish local brands.

JLR and Chery said that they would also establish a research and development facility in China, build engines, and sell vehicles produced by the joint venture together. JLR, which makes most of its vehicles at three plants in the UK, is a latecomer to manufacturing in China, where its larger premium competitors, Audi, BMW and Mercedes-Benz, have built cars with local partners for years and are recording record sales.

The two UK brands sold 42,000 cars in China in 2011, a 60 per cent rise on 2010 and equivalent to 17 per cent of the group’s global sales, up from just 1 per cent in 2005. China is JLR’s third-largest market, after the UK and the US.

In a country where large vehicles are popular, Land Rover’s 4x4s are selling particularly well. JLR earlier this month

捷豹路虎(Jaguar Land Rover)将与中国奇瑞汽车(Chery Automobile)成立合资公司，这是这家英国高端汽车制造集团首次尝试在全球最大的汽车市场从事生产。

由印度人控股的捷豹路虎与奇瑞周三联合宣布，已就拟议中的合资公司达成协议，合资公司将生产捷豹路虎两个品牌以及合资公司自有品牌的汽车。两家公司没有公布这项交易的财务细节，该交易还有待中国监管当局的审批。

中国规定，希望在本地生产汽车的外国汽车制造商必须成立合资公司，最近又开始要求它们成立本地品牌。

捷豹路虎和奇瑞表示，它们还将在中国成立研发部门，生产引擎，同时销售合资公司生产的汽车。

捷豹路虎的大部分汽车都在位于英国的3家工厂生产，在赴中国从事生产方面属于后来者。其规模更大的高端汽车竞争对手奥迪(Audi)、宝马(BMW)和梅赛德斯-奔驰

(Mercedes-Benz)已经与中国本土合作伙伴一起生产汽车多年，并创下了销售纪录。

捷豹路虎的两个英国品牌2011年共在中国销售了4.2万辆汽车，比2010年增长60%，相当于该集团全球销量的17%，而2005年这一比例仅为1%。中国是位列英国和美国之后的捷豹路虎第三大市场。

在流行大型车的中国，捷豹路虎的四驱车尤其畅销。本月早些时候，捷豹路虎宣布其位于利物浦附近哈利伍德(Halewood)的工厂招募1000

began recruiting 1,000 workers for its plant in Halewood, near Liverpool, which makes the marque’s Evoque and Freelander 2 small sport utility vehicles.

JLR already produces the Freelander in its owner Tata Motors’ home country of India, and is looking to expand operations there. Speaking in Geneva earlier this

month, Ralf Speth, JLR’s managing director, said the carmaker was in discussions with several parties in Brazil about launching manufacturing there.

2012年03月23日 07:17 AM

名工人，该工厂生产其旗下路虎揽胜极光(Range Rover Evoque)和路虎神行者2代(Land Rover Freelander 2)两款小型SUV。

捷豹路虎已经在其母公司塔塔汽车(Tata Motors)的母国印度生产路虎神行者车型，并打算扩大在印度的业务。捷豹路虎首席执行官施韦德(Ralf Speth)本月早些时候在日内瓦表示，该集团正在与多方讨论在巴西生产事宜。

中澳签署310亿美元货币互换协议

China in $31bn currency deal with Australia

英国《金融时报》 欧阳德 香港, 尼尔?休姆 悉尼报道

China has signed a $31bn currency swap agreement with 中国与澳大利亚签署了一项价值310亿Australia, a step towards boosting the renminbi’s profile 美元的货币互换协议，朝着在发达市场in developed markets. 提升人民币形象的目标迈进了一步。 Beijing has established nearly 20 bilateral swap lines in 过去四年，中国政府已达成了近20项双the past four years, but Australia is the biggest economy 边互换协议，但澳大利亚是与之签署此yet to sign such a deal, which analysts said could give 类协议的最大经济体。分析师表示，中a shot in the arm to Beijing’s goal of internationalising 澳货币互换协议可能有助于中国实现人its currency. 民币国际化的目标。 While central banks normally use swaps to provide 尽管各国央行通常在遭遇金融危机时使liquidity to each other in the event of a financial crisis, 用货币互换手段为彼此提供流动性，但China has been using them to lay the groundwork for the 中国却一直利用这一手段为人民币慢慢renminbi’s slow march into global markets. 进入国际市场奠定基础。 In announcing the Rmb200bn/A$30bn deal, the Reserve Bank 在公布这项2000亿元人民币/300亿澳of Australia said: “The main purposes of the swap 元的协议时，澳大利亚央行(Reserve agreement are to support trade and investment between Bank of Australia)表示：“这项互换Australia and China, particularly in local-currency 协议的主要目的是支持澳中两国间的贸terms, and to strengthen bilateral financial 易和投资活动，特别是以本地货币计价co-operation.” 的交易，并加强双边金融合作。” It added that there were “increasing opportunities

澳大利亚央行补充道，“两国之间有越

available to settle trade between the two countries in

来越多的机会以人民币进行贸易结算，

Chinese renminbi and to make renminbi-denominated

以及进行以人民币计价的投资”。

investments”.

China now has more than Rmb1.5tn in swap lines with other 目前，中国和其他国家的央行达成了逾central banks, but they have largely been symbolic. Only 1.5万亿元人民币的货币互换协议，但Hong Kong, the hub of offshore renminbi trading, has had 大多数都是象征性的。只有作为离岸人to activate its swap with China, doing so briefly in 2010 民币交易中心的香港，在面临人民币紧

when it faced a renminbi squeeze.

缺时，不得不在2010年短暂启动了与内地之间的货币互换。

不过，瑞穗证券(Mizuho Securities)

Nevertheless, the symbolic steps are beginning to add up 驻香港经济学家沈建光表示，这些象征to something bigger, said Shen Jianguang of Mizuho 性的举动正逐渐形成更大的影响力。Securities in Hong Kong. “It’s quite significant. They “中澳货币互换协议的意义非常重大。haven’t had agreements with such advanced economies. This 中国此前还不曾与这等规模的发达经济will gain momentum,” he said. 体签署货币互换协议。这一趋势将得到

更大的发展。” There has been talk that the Bank of England and the Bank 市场一度传闻，英国央行(BoE)和日本央of Japan could soon be in line for currency swaps with 行(BoJ)可能很快就会和中国签署货币China. 互换协议。 Building up a global pool of renminbi is proving a 建立起全球人民币资金池对中国而言是challenge for China. The currency is permitted only to flow 一个挑战。目前，人民币只能通过受到out of the country through tightly controlled channels, 严格控制的渠道——主要是贸易渠道mainly trade. ——流出境外。 The settlement of trade deals in renminbi grew swiftly from 过去两年，以人民币进行贸易结算的情a low base over the past two years, but it has appeared 况在较低的基数上迅速增多，但近几个to run out of steam in recent months and offshore renminbi 月失去了增长势头，离岸人民币存款也deposits have declined. 出现下降。 Some economists say that until China takes bolder steps 一些经济学家表示，中国只有采取更大to open its capital account, the project of renminbi 胆的步骤开放资本账户，人民币国际化internationalisation will not fulfil its promise. 的目标最终才能得以实现。

远期油价走低引发市场猜测

Oil price discount prompts debate

英国《金融时报》 哈维尔?布拉斯 伦敦报道

Oil contracts for delivery in three to five years’ 3至5年后交割的石油合约相对于现货的价格time are trading at their biggest ever discount to spot 折扣达到有史以来最大程度，由此引发一场辩论：prices, prompting a debate about whether the era of 三位数油价的时代是否只是短期现象。

triple-digit oil prices will be a short-term

phenomenon. Spot oil prices have rallied nearly $20 since the 今年以来，石油现货价格已经上涨了近20美start of the year and traded above $125 a barrel 元，昨日每桶交易价超过125美元，原因是供应中yesterday, on the back of supply disruptions and 断以及伊朗核问题引发的地缘政治担忧。同期，geopolitical fears over Iran. Over the same period, oil 2018年12月交割的石油价格上升了1美元，至95for delivery in December 2018 has risen by $1 to about 美元上下，这意味着石油现货与五年期合约出现逾$95, opening a record gap of more than $30 between spot 30美元的创纪录价差。

and five-year contracts.

“The market has the perception that oil supply 大宗商品经纪商Marex Spectron能源期货主will increase in the future and that is holding back the 管马克?托马斯(Mark Thomas)表示：“市场认为，price of forward contracts,” said Mark Thomas, head of 未来石油供应会增加，这种看法拉低了远期合约的energy futures at commodities brokerage Marex Spectron, 价格。”他指出，预期伊拉克、巴西、美国和加拿citing expectations of higher output in Iraq, Brazil, 大的产量都将提高。

the US and Canada. US oil production has surged to a 10-year peak after 美国石油产量已飙升至10年来最高水平，原companies tapped so-called shale reservoirs, using a 因是企业利用水力压裂(fracking)技术开采所谓technique called hydraulic fracturing or “fracking”. 的页岩储层。能源银行家和分析师认为，投入页岩Energy bankers and analysts believe that forward 油革命的美国企业的远期销售，压低了石油期货价selling by US companies tapping into the shale 格。 revolution has contributed to low future prices. But many in the industry remain sceptical about a 但是业内很多人士依然怀疑未来石油供应会future supply surge. “In our view, oil prices will be 否大幅上升。巴克莱(Barclays)大宗商品研究部门significantly higher in the coming years than those 主管保罗?霍斯内尔(Paul Horsnell)表示：“我们implied by the forward curve,” said Paul Horsnell, head 认为，未来石油价格将显著高于远期曲线的预期。”

of commodities research at Barclays. The International Energy Agency, the western 西方国家石油监督机构国际能源署(IEA)去年

countries’ oil watchdog, also warned last year that 也警告称，美国石油产量增加“不太可能对全球石increased oil production in the US is “unlikely to 油供应格局产生重大影响。”

affect the dynamics of global oil supply

significantly”. While the oil price rally partly reflects a tight 尽管此轮油价上涨在一定程度上反映了实物physical market, the difference between spot and 市场供应紧张，但目前现货和远期的价差大于以往forward prices is bigger than in previous tight markets, 市场供应紧张（如2008年和2004年）时的水平。

such as 2008 and 2004.

分析：盈利前景恶化 中国股市承压

China: investors turn jittery over profit concerns

英国《金融时报》 斯蒂芬?瓦格斯蒂尔 报道

It does not take much to knock confidence in the 如今不需要很多就能击垮中国股市的信心。昨Chinese stock market these days. Yesterday it was a 日，法国兴业银行(Société Générale)发表的一篇bearish report from Société Générale cutting its 2012 将2012年大中华地区企业利润增长预期下调至零profits growth forecast for greater China to zero, 的看空报告，就让中国股市大跌。

writes Stefan Wagstyl.

The Shanghai Composite index fell 2.6 per cent, its 上证综指下滑2.6%，这是自去年11月以来的largest daily fall since November, as investors added 最大单日跌幅。投资者在担忧中国经济放缓之余，profit concerns to other worries about the coming 又开始担忧企业利润下滑。凑巧的是，中国最大的slowdown in the Chinese economy. Right on cue, Jiangxi 铜生产商江西铜业(Jiangxi Copper)报告净利润下

Copper, the country’s biggest producer, posted an 18 per cent drop in net profits, which took 5.5 per cent

off its shares. SocGen said that Chinese industrial profits (according to official government data) proved “surprisingly weak” for January and February, with a 5.2 per cent decline, compared with the same months in 2011. Profits at state-owned enterprises dropped 10.9

per cent. This followed a 25.4 per cent rise in industrial profits last year, though the growth rate was already

tailing off in the last months of 2011.

降18%，导致其股价重挫5.5%。

法国兴业银行表示，政府数据显示，今年头两个月中国工业企业利润“意外疲弱”，同比下降

5.2%，其中国有企业利润下降10.9%。

去年中国工业企业利润同比增长25.4%，尽管在2011年最后几个月增速已经趋缓。

SocGen did not see a repeat of 2009, when the global 法国兴业银行并未预计2009年的情形会再次crisis brought a 20 per cent plunge in Chinese 上演——当时全球危机导致中国工业企业利润骤industrial profits. But the bank did forecast a 5 per 降20%。但该行的确预计2012年中国工业企业利润cent decline for 2012 in overall industrial profits. 总额将下降5%。 SocGen said that this could translate into a flat profit performance in the companies making up the Hang Seng China Enterprises index, which tracks Hong Kong-listed mainland companies in which international investors can easily invest. That does not sound too bad until you remember that the consensus is for 11 per cent

profit growth.

法国兴业银行表示，这可能意味着恒生中国企业指数(Hang Seng China Enterprises Index)成分股企业的利润将持平。这听起来还不错，但别忘了，市场共识预测是盈利将增长11%。恒生中国企业指数跟踪在港上市的中国内地企业，国际投资者

可以方便地投资于这些企业的股票。

SocGen therefore brought forward its forecast for 因此法国兴业银行预计今年恒生中国企业指a drop this year in the HSCEI – saying it could fall 数将会下跌，该行表示，到4月底，该指数可能会

from 10,700 now to 10,200 by the end of April. 从目前的10700点跌至10200点。 Like other emerging markets, China has seen a sharp 继全球股市年初上涨之后，与其他新兴市场一sell-off in March following the new year global equities 样，中国股市3月大幅走低。与3月2日达到的2012rally. The Shanghai Composite has dropped 7.1 per cent 年高点相比，上证综指已下跌7.1%。市场担心，随

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