I. Phrase TranslationSection One: Tr anslate five of the following terms into Chinese and define them briefly in Chinese. Write your answers on the ANSWER SHEE? (15 points, 3 points each).
1. barriers to entry 进入壁垒是影响市场结构的重要因素，是指产业内既存企业对于潜在进入企业和刚刚进入这个产业的新企业所具有的某种优势的程度。换言之，是指潜在进入企业和新企业若与既存企业竞争可能遇到的种种不利因素。进入壁垒具有保护产业内已有企业的作用，也是潜在进入者成为现实进入者时必须首先克服的困难。
2. car pooling 共乘汽车；拼车? 为节省汽油费邻居们轮流开车,互相搭乘的乘车方式
3. current account ：经常帐户? 一个国家货品及服务出口及转口总值与进口总值的差额。经常帐户差额的计算不包括金融资产及负债的交易
4. export credit：出口信贷? 出口信贷是一种国际信贷方式，它是一国政府为支持和扩大本国大型设备等产品的出口，增强国际竞争力，对出口产品给予利息补贴、提供出口信用保险及信贷担保，鼓励本国的银行或非银行金融机构对本国的出口商或外国的进口商（或其银行）提供利率较低的贷款，以解决本国出口商资金周转的困难，或满足国外进口商对本国出口商支付货款需要的一种国际信贷方式。
5. quota：配额? 配额是指一国政府在一定时期内对某些敏感商品的进口或出口进行数量或金额上的控制，其目的旨在调整国际收支和保护国内工农业生产，是非关税壁垒措施之一。
6. special drawing rights：特别提款权?? 特别提款权（special drawing right,SDR)是国际货币基金组织创设的一种储备资产和记帐单位，亦称“纸黄金(Paper Gold)”。它是基金组织分配给会员国的一种使用资金的权利。会员国在发生国际收支逆差时，可用它向基金组织指定的其他会员国换取外汇，以偿付国际收支逆差或偿还基金组织的贷款，还可与黄金、自由兑换货币一样充当国际储备。但由于其只是一种记帐单位，不是真正货币，使用时必须先换成其他货币，不能直接用于贸易或非贸易的支付。因为它是国际货币基金组织原有的普通提款权以外的一种补充，所以称为特别提款权（SDR）。
7. tertiary industry 第三产业? 第三产业指不生产物质产品的行业，即服务业。第三产业，又称第三次产业，是英国经济学家、新西兰奥塔哥大学教授费希尔1935年在《安全与进步的冲突》一书中首先提出来的。第三产业是指除第一、二产业以外的其他行业(又称第三次产业)Section Two: Translate five of the following terms into English and define them briefly in English. Write your answers on the ANSWER SHEET (15 points, 3 points each).(共15分，一个3分）
全面二孩：universal two-child policy ? A two-child policy is a government-imposed limit of two children allowed per family or the payment of government subsidies only to the first two children. It has previously been used in Vietnam. In British Hong Kong in the 1970s, citizens were also highly encouraged to have two children as a limit (although it was not mandated by law), and it was used as part of the region’s family planning strategies. It’s also a policy in China since 2016.[
—带一路：One Belt and One Road? The Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as The Belt and Road (abbreviated B&R), One Belt, One Road (abbreviated OBOR) or the Belt and Road Initiative is a development strategy and framework, proposed by Chinese paramount leader Xi Jinping that focuses on connectivity and cooperation among countries primarily between the People’s Republic of China and the rest of Eurasia, which consists of two main components, the land-based “Silk Road Economic Belt” (SREB) and oceangoing “Maritime Silk Road” (MSR). The strategy underlines China’s push to take a bigger role in global affairs, and its need for priority capacity cooperation in areas such as steel manufacturing.
It was unveiled in September and October 2013 in announcements revealing the SREB and MSR, respectively. It was also promoted by Premier Li Keqiang during the State visit in Asia and Europe.
.灵猫六国： CIVETS? The CIVETS are six favored emerging markets countries – Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa. These countries are favored for several reasons, such as “a diverse and dynamic economy” and “a young, growing population”.This list is comparable to the Next Eleven, devised by Jim O’Neill of Goldman Sachs.
跨太平洋伙伴关系协定:Trans-Pacific Partnership Agreement (TPP)：The Trans-Pacific Partnership (TPP) or Trans Pacific Partnership Agreement (TPPA) is a trade agreement among twelve of the Pacific Rim countries—notably not including China. The finalized proposal was signed on 4 February 2016 in Auckland, New Zealand, concluding seven years of negotiations. It is currently awaiting ratification to enter into force. The 30 chapters of the agreement aim to “promote economic growth; support the creation and retention of jobs; enhance innovation, productivity and competitiveness; raise living standards; reduce poverty in the signatories’ countries; and promote transparency, good governance, and enhanced labor and environmental protections.
国际收支平衡表：Balance of payments?? The balance of payments, also known as balance of international payments and abbreviated BoP, of a country is the record of all economic transactions between the residents of the country and the rest of the world in a particular period (over a quarter of a year or more commonly over a year). These transactions are made by individuals, firms and government bodies. Thus the balance of payments includes all external visible and non-visible transactions of a country.
首次公开募股：IPO; initial public offering? An initial public offering (IPO) is the first time that the stock of a private company is offered to the public. IPOs are often issued by smaller, younger companies seeking capital to expand, but they can also be done by large privately owned companies looking to become publicly traded. In an IPO, the issuer obtains the assistance of an underwriting firm, which helps determine what type of security to issue, the best offering price, the amount of shares to be issued and the time to bring it to market.
投资组合理论：Theory of Portfolio Investment；Modern portfolio theory? Modern portfolio theory (MPT), or mean-variance analysis, is a mathematical framework for assembling a portfolio of assets such that the expected return is maximized for a given level of risk, defined as variance. Its key insight is that an asset’s risk and return should not be assessed by itself, but by how it contributes to a portfolio’s overall risk and return.II Passage Translatron (120 points)Section One: Translate the following English passage into Chinese. Write your answers on the ANSWER SHEET (60 points).
Pursuing the goals while managing the risks
Improved client services—that will ultimately help the World Bank Group deliver on
its goals—can only happen within a strong risk management culture and framework
that preserves the Bank Group’s reputation and financial sustainability in an increasingly
uncertain and challenging environment. The Bank Group’s approach involves
actively taking, while carefully managing, risks in pursuing its objectives. It seeks to
ensure that risks are adequately assessed, measured, monitored, and reported so
that corrective action, if necessary, can be taken in a timely manner and impacts
mitigated. As the environment changes and as new risks emerge, this process will
The Bank Group faces a variety of risks related to development impacts, environmental
and social safeguards, integrity, and financial management. It manages them
through a customized risk rating and regular monitoring system as well as through
engagement with clients. It manages other risks, including financial and operational
risks, using leading industry practices and standards adapted to the Bank Group’s
The external challenges are many. They include a low interest rate environment,
which affects income; the impact of low oil prices on some country clients; geopolitical
tensions, which affect some of the Bank Group’s areas of operation; the risks
of economic slowdown, which are facing some developing countries; and policy
normalization in developed markets, which can heighten volatility in currencies and
capital flows to some emerging market economies. Finally, the Bank Group continues
to face operational risks, including the growing threat of data and information
security breaches and external events that can impact business continuity and the
physical security of its staff.
As both a development and a financial institution, the World Bank Group faces
special challenges in the current environment. Initiatives in 2015 on financing for
development, the Sustainable Development Goals, and climate change will affect
the development agenda for years to come. The emergence of new multilateral
development institutions creates both opportunities and challenges for creative
partnerships and requires fresh thinking about the financial structure of the World
These changes are occurring against a backdrop of major internal organizational
reform and an uncertain external environment. Internal reform is being stabilized,
although the impact on staff and program delivery still needs to be carefully managed.
Budgeting effectively and securing resources for financial sustainability will
also be key components of building stability.(选自 World Bank Annual Report 2015 mtizt.com注）
A. Render the following sentences into English (10 points)：
Facing the vast ocean that embraces thousands of streams, let us set sail now that the wind is fair.
When united with one heart and mind, success is secured.
To take others’ concerns as one’s own and offer timely assistance when others are in need is how the Chinese conduct themselves.
B. Render the following passage into English (50 points)：
“区域全面经济伙伴关系协定”（RCEP）是亚洲地区参与成员最多、规模最大的贸易协定谈判，是对既有成熟自贸区的整合。RCEP具有较强的包容性，符合亚洲产业结构、经济模式和社会传统实际，采取循序渐进方式，兼顾成员国不同发展水平，不排斥其他区域贸易安排。 (李克强总理在博鳌亚洲论坛2014年年会开幕式上的主旨演讲 mtizt.com注）
We will give full support to initiatives that help strengthen maritime cooperation. We will not accept acts that undermine stability in the South China Sea. We Chinese believe in repaying kindness with kindness and meeting wrongdoing with justice. We value friendship and never treat friends unfairly, and we also stand by principles and firmly uphold our fundamental position.
we should maintain the general environment of peaceful development and build an Asian community of shared responsibilities. Regional turbulence courts disaster while stability in the neighborhood brings prosperity.
In the age of economic globalization, no Asian countries can achieve development in isolation from each other, still less can they pursue development as a “zero-sum game”. Rather, with our interests closely entwined, we the Asian countries need to seek mutually beneficial cooperation where “one plus one can make more than two” and even produces a multiplying effect in which “two plus two makes more than four”.
The negotiation on the Regional Comprehensive Economic Partnership (RCEP) is the largest trade agreement negotiation with the most extensive participation in East Asia, and the RCEP is integration of existing mature free trade areas. Being highly inclusive and based on Asia’s industrial structure, economic model and social tradition, the RCEP is a phased-in arrangement that accommodates member countries at different levels of development, and it does not exclude other regional trading arrangements.