Translation for your referenceUnit OneWe must be courageous enough to venture on experiments as far as reforms are concerned. A certain amount of risk-taking is necessary. Who dares to claim that he is 100 percent sure of success right from the beginning without taking any risk? There is no such thing as certainty. I have never had such notions as thinking I am 100 percent correct. Every year leaders should review what they have done so as to hold to what works and discard what does not, or take immediate corrective steps. We should lose no time in tackling them whenever new problems arise. No one can afford the luxury of slow decision-making, whether it involves fighting a battle or making a reform. In many cases, you need to take a chance, and correct your mistakes as you go along. I am afraid that it may take another 30 years to establish a set ofmore mature and more consistent system in all fields, under which all policies will be more consistent, too.Translation for your reference for Unit 2 GE is a diversified technology, manufacturing and services company committed to achieving worldwide leadership in each of our 12 businesses. We have a long and proud history of doing business here in China. As early as 1910, GE began to develop trade with China and was considered one of the most active and influential foreign enterprises in China. GE activities included not only product sales, but also manufacturing of light bulbs and investments in power plants. In 1917,GE installed two steam turbines on Chongming Island at the mouth of the Yangtze River. When these machines were finally retired in 1992 after 75 years of service, they were believed to be the oldest operating units in the world.We were there for China then and we are certainly here now. Today, all of GE’s major businesses are active in China partners. GE Power Systems, one business department, has continued to expand its presence with offices in Beijing, Shanghai, Harbin, Chendu, Guangzhou, Shenzhen and Hong Kong. In addition, we have formed valued technology relationships with a number of Chinese companies. Few areas of the world are growing as rapidly as China and with that growth comes an ever-increasing need for the power to fuel it. At GE we want to bethought of not simply a supplier of power equipment and services but as China’s growth partner. We are confident that we have the necessary resources, expertise and most importantly technologies that best position us to serve this broad market.We also recognize that the technologies used in China must not simply provide power but must do so in a manner that is in concert with the goal of preserving her rich natural resources of coal reserves, natural gas and water. As technology leader in steam, gas and hydropower, GE possesses the perfect match for China’s energy needs and environmental goals.GE Power Systems is one of GE’s major businesses and is the world’s leading supplier of power generation technology, energy services and energy management systems. It contributed nearly 10 percentof GE’s $90.8 billion of 1997 revenues. Power Systems is major part of the GE portfolio and employs more than22,000 people staffing our global manufacturing and service network as well as our sales and engineering offices around the world.Today, GE Power Systems continues to strengthen our role as a long time supplier of power equipment for projects in China. For example, during the past two years, GE Power Systems has announced orders in China totaling more than seven gigawatts. Including projects already under construction, new plants featuring GE technology will and more than 12 gigawatts of electrical power capacity in China over the next several years.GE places tremendous value on its role helping to provide clean and efficient power for China. Our relationship goesback many years and has many instances of proud successes in virtually all forms of power generation. We have been working with China for many decades and we have learned just as much from you as you have from us. GE is committed to continuing partnership with China.Unit 31.Brand is a major issue in product strategy. On the one hand, developing a branded product requires a great deal of long-term investment, especially for advertising, promotion, and packaging. Many brand-oriented companies subcontract manufacturing to other companies. Taiwanese manufacturers make a great amount of the world’s clothing and consumer electronics, but not under Taiwanese brand names.If a company treats a brand only as a name, it misses the point. The branding challenge is to develop a deep set of positive associations for the brand. Marketers must decide at which levels to anchor the brand’s identity. One mistake would be to promote only attributes. First, the buyer is not as interested in attributes as in benefits. Second, competitors can easily copy attributes. Third, the current attributes may become less desirable later. The most enduring meanings of a brand are its values, culture, and personality. They define the brand’s essence.2. Tabellae Qingchunbao( Anti-aging tablets)Name of product: Anti-Aging Tablet Effects and Indications:1.Increase mental capacity, soothe nervesand strengthen vigor of thinking;2.Contribute to anti-fatigue, maintainunflagging strength and improve suitability to all ill natural environment;3.Enhance faculties of nonspecificimmunity and build up resistance to diseases;4.Strengthen heart functions, improvenourishment to cardiac muscles, prevent or reduce coronary heart diseases. Notes: The tablets are scientifically and carefully prepared with traditional Chinese herbs on the basis of the prescription of Yongle Imperial Hospital of the Ming Dynasty. No hormone. No undersirable side effects have been observed with constant taking of the tablets.3. Kweichou MoutaiThis Kweichou Moutai 38%(V/V), one of the Kweichou Moutai liquor series, is well known for its top quality in China. It isdistilled with traditional methods combined with advanced scientific processes. It possesses a unique flavor which features fantastically mellow, with a lingering enjoyable aftertaste. To add chilled water or ice to it will not change its crystal clearness. Moutai 3*% V/V enjoys a great fame throughout the world.4. Translate the following sentences1) Guangzhou, the ideal place forgourmets./Guangzhou, a paradise for eating/ East or West, Guangzhou cuisine is the best.2) Applying “Dabao” morning and nightmakes skincare a real delight/ “Dabao”morning and night makes skincare a real delight/ Want to gain an ideal complexion? Use “Dabao”with no hesitation.3) Double Star takes you afar.4) Bird handsets----as powerful as fighters5) Wise men prefer to live near water,Good men near mountains./ Gentlemen prefer the mountain, wise men the fountain. / The benevolent are close to the mountain, the wise are close to the water.Unit 41. Today’s marketers, of course, face a few tough decisions. But today’s marketplace is enormously more complex. Domestic markets, at one time safe from foreign invaders, are now happy hunting grounds of giant global corporations as well as global niche specialists. Major strides in technology have considerably shortened time and distance: New products are launched at an astonishing pace and are available worldwide in a short time. Communications media are proliferating.New distribution channels and formats keep appearing. Competitors are everywhere---and hungry.This new world is also characterized by an amazingly rich information environment. Consumers are usually to increase their expectations for product quality and services. More and more people tend to buy goods via the Internet. Consumers will be able to access objective information on competing brands, including costs, prices, features, and quality, without relying on individual manufacturers or retailers. In many cases, they will be able to specify the customized features they want. They will even be able to specify the prices they are willing to pay, and wait for the most eager sellers to respond. The result is a dramatic shift of economic power from sellers to buyers.Savvy companies recognize that a major revolution is taking place in markets and marketing. More companies today are striving for leadership in specific markets instead of accepting second-rate positions in mass markets. Companies are emphasizing retaining customers rather than simply acquiring new ones. Companies are expanding their offering mix in a bid for customers, but not merely for the size of the market share and companies will identify the most profitable customers, and give them them extraordinary service. Companies are basing their decisions on customer lifetime value rather than on immediate profit maximizatioin.2 The Founding of HongyaZhang Weida graduated from Department of Garments. College of Light Industry three years ago and has worked for a textiles company ever since. Highly regarded by his boss for his outstanding performance at work, he got a promotion last year and became a departmental manager. It is likely that he will make another move up the ladder and become a vice president of a division. However, he always felt that he was nobody but a hired hand “making bridal dresses for others.” At a schoolmates’ reunion party, he found that Cheng Hao, the most gifted student of his class and now a deputy division chief of the Municipal Commission of Economy and Trade, was not content with his status either. After several long and in-depth talks, they decided to resign together and set up a fashion shop of their own.They named their shop Hongya, withZhang Weida as President and Cheng Hao Vice President. The start-up capital was 70,000 yuan, of which 30,000 yuan was contributed by Zhang and 10,000 by Cheng, and the balance borrowed/loaned from a bank. They decided to start with retailing. Buying is mainly the responsibility of Zhang, and he often visits Guangzhou and Shanghai for purchasing. Cheng, in charge of selling, basically works in the shop, although occasionally also does some purchasing.Zhang closely follows fashion trends and market demands, and the goods he purchases are sold out as soon as they are brought into the shop. Within 6 months, the two of them have already made 30,000 yuan, enough to pay back the bank loan. Encouraged by the booming business, they have decided to enlarge the business space by taking over/acquiring the tea shop nextdoor whose business is dull/slack. Zhou Husheng, the owner of the tea shop was reluctant to sell his business outright, but agreed to value the shop at 30,000 yuan and invest the money in Honya. Besides, he decided not to take pa rt in Hongya’s day-to-day management, because he is not familiar with the fashion business. In return, however, he asked for 21% of Hongya’s profit, saying that 21% is about half of his share of Hongya’s equity. Having weighed the pros and cons, Zhang and Cheng agree to/consented to Zhou’s request and sign an agreement with him to that effect.After the expansion, Hongya has hired several more shop assistants and had a pretty girl as a shopping guide at the shop entrance. The sales, however, have not gone up as much as expected. Puzzled and eager to find out why, Zhang and Cheng have talked with several customers who used tofrequent the shop. One of them says the shop’s selection follows the trends blindly and has not feature of its own. She adds that sometimes she can find a favorite dress by chance, but other times the shop is full of dresses which have no taste at all and the prices are too low to show class. Another complains that, while the selection is occasionally good, sometimes the prices are on the high end and the designs look weird. Such dresses might be good for fashion shows but are not fit for practical, daily wear. Other customers have expressed similar feelings.The two young owners have become anxious, because they have realized that, in buying merely following the trend or their own intuition cannot guarantee success/does not work any more. But what kind of goods should they buy? Or to put it another way, what kind of customers shouldthey serve?During their college days, they recall, they once took a course called Marketing of Fashions, which somewhat covered issues of a similar nature. The following day, Zhang rushed to the college to consult Mr. Zhao, the teacher of that course.After synthesizing the information they collected and the suggestions from Mr.Zhao, Hongya repositions itself in the market. It will cater to the mainstream customers in design, and price will be set basically within the middle range. But Zhang and Cheng differ in pricing strategy. Zhang believes that the prices should be differentiated even for medium-priced goods. The markup may be 40% for most of the goods, but for a small amount of the goods, the markup could be 60% to 100%. Such a strategy will not only increase theprofit margin, but also enhance the shop’s image, because many customers believe that goods of low price cannot be high in quality and goods of high quality cannot be low in price. There are customers who even feel degraded if they buy goods of low price.Cheng, on the other hand, feels that toda y’s customers are smart shoppers who make their purchase only after careful comparisons of different sellers. Hongya will be in great trouble if it is found ripping–off its customers. Therefore, he believes, the markup should not be too high. In addition, one or two items should be earmarked as the buy of the day and given a lot of publicity in front of the shop in order to promote the sales of other items. If the overall sales grow, the overall profits will also go up.Unit 51 坚持和完善以公有制为主体、多种所有制经济共同发展的基本经济制度，毫不动摇地巩固和发展公有制经济毫不动摇地鼓励、支持和应引导个体、私营等非公有制经济发展。
