Hot Economic Issues 2007
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经济信息周刊Economic Information Weekly 2007年第37期(总第79期) 2007年9月16日财经述评 (1)国际财经述评 (1)纽约市场油价盘中首次突破每桶80美元大关 (1)次级债危机正向全球金融市场蔓延 (2)欧洲中央银行再次向银行系统注资750亿欧元 (3)日本经济第二季度出现负增长 (4)穆迪:美投机级债券违约率明年或增两倍 (4)国内财经评论 (5)部分央企今年试点分红有望用于社保支出 (5)人民币汇率中间价突破7.52关口 (6)8月CPI再创新高食品价格涨幅最大 (7)吴晓灵:资本市场不应恐惧央行调控 (8)全球金融市场一周概览 (9)热点聚焦 (11)聚焦一:央行决定上调金融机构人民币存贷款基准利率 (11)聚焦二我国将开征燃油税替代养路费 (12)专家视角 (17)专家视角一:房地产开发商为何要“捂盘”? (17)专家视角二:市场不要因为调控工具转换而感到恐惧 (20)_______________________________________________________中科院预测科学研究中心暨中科院管理、决策与信息系统重点实验室主办;电话:62565817;传真:62541823本期责任编辑:潘伟、董玉玲、祖垒、程刚、黄德龙、杨杨、陈佳财经述评国际财经述评纽约市场油价盘中首次突破每桶80美元大关受美国原油商业库存大幅下降等因素影响,12日国际市场原油期货价格继续走高,其中纽约市场油价盘中首次突破每桶80美元大关。
分析人士指出,本轮油价上涨的原因除供需矛盾外,期货市场投机资金的炒作因素也不容忽视。
当天,纽约商品交易所10月份交货的轻质原油期货价格盘中一度达到每桶80.18美元,刷新了今年8月1日创下的每桶78.77美元的历史最高盘中价,这也是纽约市场油价历史上首次突破每桶80美元大关。
收盘时,纽约市场油价每桶比前一个交易日上涨1.68美元,收于79.91美元,也刷新了前一个交易日创下的每桶78.23美元的历史最高收盘价。
Davos ForumWorld Economic Forum is acknowledged as the highest rank among non-official international economic forums, which brings together leaders worldwide from all fields to discuss the most pressing issues facing the world. Global Fortune 1000 are also the members of WEF, and these transnational corporations have power over more than 85% world wealth, with annual turnover over 45 trillion US dollars.According to the positioning of World Economic Forum, the Winter Davos Forum held in Switzerland every year is an important platform for the Global Fortune 1000 to have a talk with governments from different countries and districts, mainly discussing over global hot and tendentious issues, and observing new achievements、new theory、and new trend of the world economic development. Besides, it has a certain influence on the trend of the World Economic Development. Based on this, WEF went out of Switzerland for the first time in 2007 to hold “Summer Davos Forum” in China.“Summer Davos in China” focuses on Global Fortune 501—1000, or rather, the Fortune 500 will have a talk with governments from different countries and districts, and growing enterprises with the greatest developing potential. Because the meaning conveyed by the name “Davos” is established by usage, and it is acquainted and acknowledged widely by economic circles and g overnments from different countries and districts, therefore, “Global Industry Summit of World Economic Forum and Annual Meeting of Global Growth Companies” to be held in China will be “Summer Davos in China” for short.The Summer Davos held in China is set up by the joint proposal of chairman of the forum、Prof. Schwab, and Chinese Premier Wen Jiabao, aiming at providing a platform for “Global Growth Companies” to discuss and share experience with those mature enterprises. Because the participants of Summer Davos Forum are mainly concerned about global growth companies, so it is named as “Annual Meeting of New Champions”, which acts as the second mainstay of World Economic Forum, echoing with “Annual Meeting of Winter Davos”This Forum will cooperate with Chinese National Development and Reform Committee, to guarantee the Summer Davos held in Tianjin will further promote people‟s re-thinking、re-devising、and re-constructing about world economy. The prerequisite of Summer Davos gaining success, is to combine the core community of the forum with the relevant deciders from G20, main emerging and developing countries.It is learned that some of the participants will be: 400 global growing companies; chief executive officers、chief technology officers、chief economists and strategists of enterprises (all total 300) from both Forum members and partners; 100 dignitaries, (leaders, and ministers from departments of Energy、Technology and Industry, etc), 100 experts and scholars, and members from Global Agenda Committee, will be invited as thought leaders; 100 media leaders, including publisher、chief editor, famous columnist and finance editors, etc; 60 technologypioneers; 60 outstanding young scientists from all over the world, who achieve breakthrough in their own field.The agenda of this Summer Davos will focus on the ways to: increase the energy efficiency 、reduce carbon emission、develop Green technology、reconstruct infrastructure, in order to promote growth by sustainable development. The agenda will also present an overview systematically on the important developments of economy、industry and technology, which can re-create consumption mode、re-lead flow of financial capital and re-define industrial standard in the foreseeable future.It is learned that the agenda devised in Summer Davos will be centered on the following core questions: how to re-position as “creating future” and predict those unfulfilled future needs; what is the key technology、products and service to promote growth by sustainable development; how does the advanced economy、emerging economy and developing economy work together, to increase energy efficiency、reduce reliance on the natural resources and increase the use of renewable resources; how does government and enterprises can attain main sustainable goal with science and technology circles jointly; how to boost greatly the commercial feasibility of scientific study, in order to achieve the future growth goal; how to make sure financing mechanism and partnership globally, in order to promote Green growth and create Green job opportunity; how to re-devise commercial mode, in order to include it into sustainable value mainstream; how does sustainability enhance the competitive power of country and enterprises globally.The World Economic Forum began life in 1971 as the European Management Forum. It was the idea of a young business school professor, Klaus Schwab. Schwab brought together over 400 participants for a conference in a city in the Swiss alps. Its success was the making of the institution that Klaus Schwab leads today.The mission of the World Economic Forum is expressed in its motto: "committed to improving the stateof the world". It fulfils that mission by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.It was Klaus Schwab who carried forward the vision for a Forum on the principle that economic progress without social development is not sustainable, while social development without economic progress is impossible.It is an independent, international organization, incorporated in Switzerland as a not-for-profit foundation. In 1987, the foundation changed its name to the World Economic Forum, something Klaus Schwab saw as better reflecting the global nature of its activities. Klaus Schwab summed up the Forum as "entrepreneurship in the global public interest".The Schwab Foundation for Social Entrepreneurship developed that theme. Set up in 1998 by KlausSchwab and his wife Hilde, it works to identify, recognize and connect the individuals building strong and sustainable organizations with a strong social purpose. Klaus Schwab also established The Forum of Young Global Leaders - a community of inspiring and dynamic leaders from among the under-40s - to respond to the growing consensus that the challenges confronting the world demand integrated solutions.Klaus Schwab was born in Ravensburg, Germany in 1938. His parents were both of Swiss origin. Klaus Schwab says: “The legacy of the wartime situation had a huge impact on me. I became very interested in reco nciliation and dialogue. We had to create a new Europe based on these two things.”Schwab has two doctoral degrees, one in mechanical engineering, and one in economics and social sciences. Klaus Schwab spent a year at Harvard University and went on to be the youngest professor at the University of Geneva.It was whilst in Geneva, in the emerging field that applied academic analysis to the world of business, that Klaus Schwab developed "stakeholder theory", the underlying principle behind all his future work at the World Economic Forum. The principle that Klaus Schwab outlined is that companies serve not only shareholders but all the stakeholders of their organization. This means all the social groups connected directly or indirectly to the enterprise which are dependent on its success and prosperity, including not just shareholders and creditors but also employees, customers, suppliers, the state and the society in which the enterprise is active.Klaus Schwab himself sees the World Economic Forum as the …glue‟ between different stakeholders in society. He explains: “The World Economic Forum is not a decision-making body. It is a platform for initiatives, programmes and taskforces. It gives each of our participants the possibility to shape their own opinio n based on the latest strategic insights.”Adds Schwab: “I believe fundamentally in the inter-relationship between economic development and social progress. I feel that governments today alone cannot address global challenges nor can business alone and nor can non-governmental organizations.“At the World Economic Forum we have to create platforms for the three main pillars of society, that is, government, business and civil society, to interact and confront the issues which we have on the global agenda,” Klaus Schwab says.。
Research on the Application of Interactive T eaching in Economics Courses in Colleges and Universities Yuanyuan WengXianyang Normal UniversityAbstract: With the continuous advancement of education reform, the traditional teaching mode has been out of line with the development of modern economics, and its shortcomings have emerged one by one. In order to better train students' thinking ability and provide a good foundation for students majoring in economics in the future, an interactive teaching method has been put forward. The application of interactive teaching in college teaching has promoted students' better development in humanities, majors and entrepreneurship.Keywords: Interactive; Economics; Institution of higher learningDOI: 10.47297/wspiedWSP2516-250032.202206071. IntroductionIn order to make up for that deficiency of traditional teaching, interactive teach has played an important role in modern teaching and is a very effective teaching method. In the teaching process of Economics, it is necessary to introduce interactive teaching, which can lay a solid foundation for the study of basic courses of economics. As for how to better develop interactive teaching method, teachers should first have a real understanding of its significance, and know how to develop this teaching method to make up for the shortcomings in the past teaching, and to make good use of strengths and weaknesses and adapt to local conditions, so as to achieve better results.2. The Significance of Interactive T eaching MethodInteractive teaching method was put forward by Palincsar in 1982. On the understanding of teaching, Palincsar thinks that the real meaning of teaching is the mutual communication of emotions, information and ideas between teachersAbout the author: Yuanyuan Weng (1981-05) ,Woman,The han nationnality,Xianyang Shaanxi, College of Economic and Management,Associate professor,The rural economy.162Journal of International Education and Development Vol.6 No.7 2022 and students [1]. Teachers and students are the main roles in teaching, and the combination of these two different subjects constitutes teaching. In teaching, teachers mainly play the role of designers of organizing activities and guides of promoting students' participation, and students are the importers and exporters of information in this activity. Then interactive teaching is a kind of teaching method which focuses on students, and teachers guide students to participate in this teaching activity, so as to achieve continuous communication of emotions, information and ideas with students and achieve common goals. Interactive teaching is mainly the improvement of the traditional teaching mode Professor-Example-Practice-Summary. Interactive teaching is mainly based on students, and teachers guide students to realize the interaction of learning methods and skills, so as to promote students' better all-round development.3. Application Strategies of Interactive Teaching in Economics in Colleges and Universities(1) Doing a good job in the interaction between teachers and teaching materials, teachers and studentsIn order to improve the teaching efficiency in class, teachers need to guide students to prepare before class, exchange learning results in class, and expand their knowledge on this basis. When teachers guide students to preview before class, they first need to have an overall understanding of what they have learned and design a good classroom link, sort out the contents that need to be learned in class and issue the problems discussed to students, so that students can have enough time to reach the preview effect by querying information [2]. Students should also pay attention when doing preview. First of all, they should carefully read the contents that need to be learned in this lesson, and carefully think about the problems designed by teachers by consulting the learning materials. Secondly, on the premise of completing the content assigned by the teacher, we should expand our knowledge based on what we have learned. Do a good job in preparing for the preview before class. Teachers and students can exchange the preview results in class. Through the students' performance, teachers can not only know the students' learning results, correct the wrong answers and understandings, but also allow students to discuss independently, learn from each other and grow together. Through this interactive way, teachers can start teaching according to the students' situation and realize efficient teaching.(2) Doing a good job in the interaction between students and textbooks, students and studentsIn the process of preview, students should not only find a more suitable learning method according to the information and questions given by the teacher,163Journal of International Education and Development Vol.6 No.7 2022but also combine the contents of teaching materials and their own situation, so that they can truly understand what they have learned and translate it into their own ideas. They can express their opinions in class and discuss with other students [3]. Teachers are still the guiders in class, and can guide students' learning direction by introducing real-time hot economic issues. We can also find a more suitable study group for students according to their own differences, and explore and discuss with each other within the group, and learn from each other and subsidize each other. The most important thing is that teachers must create a positive, harmonious and happy learning atmosphere, in which students can have passionate discussions and think positively. As a guide, teachers should also take seriously the opinions and problems put forward by students and correct them in time. In the process of learning, students should also take the advice given by teachers seriously, choose their own study groups according to their own situation, take every problem seriously and actively think and discuss, which is a good way to improve their interest in learning. After group discussion, teachers can also organize discussion and study among groups to make students' learning more comprehensive. In view of some key problems, teachers should also participate in the communication between students, so as to promote the all-round development of students and realize interactive learning.(3) Doing a good job in the interaction between teachers, in class and after classBesides the communication between teachers and students, teachers should also communicate with each other. Multi-style teaching can be organized by scientific research rooms and research groups. For example, students can do research according to real-time economic hot issues, different teaching methods can be organized with students as the main body, and innovative teaching mode can bid farewell to traditional teaching, which can not only drive students to study independently, make them more motivated, but also cultivate students' social practice ability and thinking ability [4]. With the continuous progress of the times, the Internet has become popular. Teachers can also make more use of the Internet in teaching, such as correcting students' homework in time, communicating with students at any time, and knowing more about students' study and life in time. This will not only help students to answer their after-class learning questions in time, but also really digest the learning content, and make better use of time, so that more time in class can be given to students to discuss and learn new knowledge. Let the communication between teachers and students on the Internet become more time-effective, and it is not limited by space and location. Whether it's on campus or off campus, whether it's in class or after class, it can make the communication between teachers and students more smooth. Therefore, rational use of the Internet is of great help to the improvement of students' learning efficiency and learning results.164Journal of International Education and Development Vol.6 No.7 2022(4) Setting up situational teachingSituational teaching is an efficient teaching method to improve the interaction between teachers and students. Students can not only experience the development of events in simulated situations, but also find out the problems, analyze and solve them. In this kind of self-practice, students can take the initiative to think and learn, arouse students' initiative and interest in learning, and also improve their thinking ability and problem-solving ability. If the study follows the same pattern every day, students will be bored. In order to make students more active, it is necessary to take care of students' different interests. For example, an athlete of a certain project has the same training content and actions every day, but he still will not feel bored because he loves his career and is full of interest in his own sport. Therefore, it is an effective way to enrich teaching content, improve students' interest in learning and enhance learning efficiency through situational teaching method, so that students can learn actively in real environment and apply what they have learned. It is of great help to improve students' professional quality, cultural quality and humanistic quality.(5) Encouraging students to participate in teaching activitiesLet students take the initiative to participate in teaching activities, which is conducive to enhancing students' self-confidence, overcoming timidity and exercising their language expression ability. All-round development of students' morality, intelligence, physique, beauty and labor is the main task of the current school. Only by all-round development of students can they adapt to this society and become talents needed by the current society. For students majoring in economics, oral communication ability, comprehension ability, expression ability, and adaptability are all very important. Let students participate in teaching activities, which can make students master knowledge more firmly and exercise themselves at the same time. In teaching activities, teachers can give some guidance and help, so that students can finish better.4. ConclusionThrough the exploration of interactive teaching methods, this paper concludes the importance of interaction between teachers and students, students and students, and teachers. We can use situational teaching and encourage students to participate in teaching activities to mobilize students' learning initiative, stimulate students' enthusiasm for learning, and improve students' economic thinking ability, learning ability and innovation ability. In order to cultivate economic talents in an all-round way, teachers should effectively use interactive teaching and improve traditional teaching methods.165Journal of International Education and Development Vol.6 No.7 2022References[1] Zhao Xianghao, Wang Pengfei. “Innovative research on teaching methods ofeconomics courses in colleges and universities” [J]. Encyclopedia Knowledge, 2020,(21):31-32+54.[2] Li Xiaodan. “Analysis of the teaching mode of economics courses in colleges anduniversities from the perspective of ideological and political courses” [J]. Science, Education and Literature (next Xunkan), 2020,(6):105-06.[3] Weng Yuanyuan. “The application of interactive teaching mode in the basic coursesof economics for financial majors in colleges and universities” [J]. Shaanxi Educa-tion (Higher Education), 2020,(6):31-32.[4] Gao Qianhui. “"Ideological and Political Curriculum" as a visual threshold to ex-plore the teaching reform of economics courses in colleges and universities” [J].Education Modernization, 2019,6(8):28-30.166。
Proof reading错误类型词短语句子篇章词名词动词形容词/副词介词限定词词代词(指示/关系/不定/反身)V.ing & V. ed情态助动词名词1. He holds his “readiness-to-rise” post and keeps on holding it.(1997)2. Anxious to check inflation and rising life costs, the federal government appointed a board of grain supervisors (2001)3. ...and brought the birth rate to a twentieth century height after more than a hundred years of a steady decline.(2003)名词4. As we know, life would only be possible on the face of a planet (1996)5. People of all races and languages make rather similar noises in return to pain and pleasure.(2007)6. The desire to use language as a sign of national identity is a very natural one, and in result language has played a prominent part in national moves.(2008)名词7. These give the concentrations on three main pollutants-ozone, nitrogen dioxide and sulphur dioxide (1995)8. …to inform the citizenry and to arouse public interests in national issues. (2004)动词1. His politeness glues his body to the chair and refuses to let him raise. (1997)2. Just as business firms sometimes collude to shorten the rigors of competition, universities collude to minimize the cost to them of the athletes whom they recruit in order to stimulate alumni donations, (2005)3. ...unless he has a means of expressing it in terms able to be seen by another member of his linguistic community; (2006)动词4. …there were proposals that independence should be linguistically accepted by the use of a different language from that of Britain.(2008)形容词1. ...the government appointed the first Canadian Wheat Board, with total authority to buy, sell, and set price.(2008)2. …there is a sharp difference in meaning between “ man is vile” and “the man is vile”, yet “the” is single vehicle of this difference in meaning.(2000)3. Men have often felt the need to cultivate a given language to show that they are distinctive from another race whose hegemony they resent. (2008)形容词4.The marketing of wheat became an increasing favorite topic of conversation.(2001)5. …that is to say, they consider the human infant to be genetic programmed in such a way that it can acquire language. (1998)6. From the 1940s to the early 1960s, Americans married at a high rate and at a younger age than their Europe counterparts. (2003)形容词7. …the poor one’s job prospects, the more sense it makes to reallocate time from the job market to education, in order to make oneself more marketable.(2005)8. Of the remaining fraction, which is somewhat fewer than 1% of the whole, there is 10-20 times as much stored as underground water (1996)9. Increases in size as he grows old, as a result of education and experience. (2006)形容词10. …there are no remote tribes, no ancient records, providing evidence of a language with a large proportion of such cries than we find in English.(2007)副词1. …and it often comes as a shock when we firstly hear a recording of ourselves. (2002)2. We learn quite e arly to recognize a “stranger”, someone who speaks with an accent of a different community—perhaps only a few miles far.(2002)3. It had happened too often that they sold their wheat soon after harvest when farm debts were coming due, just to see prices rising and speculators getting rich.(2001)副词4. A certain number of hydrogen atoms, which are one of the main constitutes of water, are lost by escaping from the atmosphere to out space, but (1996)介词1. The hunter—gatherer tribes that today live as our prehistoric human ancestors consume primarily a vegetable diet supplemented with animal foods.2. …but in central London winter sunshine has increased about 70% since 1958. (1995)3. …these contemporary aborigines live to old ages despite of the absence of medical care.(1999)冠词1. Most committee hearings are open to public and are reported widely in the mass media. (2004)2. A rough and ready difference which may seem the most obvious is that grammatical words have “less meaning”, (2000)3. …these are among most striking of human achieve ments.冠词4. The biggest cost of being in the school is foregoing income from a job ( this is primarily a factor in graduate and professional-school tuition): (2005)5. It is during this very long period in which the human infant is totally dependent on the others that it reveals the second feature which it shares with all other undamaged human infants, a capacity to learn language. ( 1998)冠词6. …to communicate his thoughts and feelings, in a variety of styles, to the other English speakers. (2006)7. It is oft en said, of course, that the language originated in cries of anger, (2007)8. …after more than a hundred years of a steady decline, producing the “baby boom”. (2003)冠词9. …we certainly could using their eating habits as model for healthier diet. (1999)10. W e may say that the cries of pain or chortles of amusement are largely reflex actions, instinctive to large extent, (2007)11. If he were not hesitating, it would only last a fraction of the second. (1997)数量词1. The rest is fresh, but three quarter of this is in the form of the ice at the Poles and on mountains, (1996)2. …we certainly do create a great number of obscurity when we omit them, (2000)代词1.…their marriages remained intact to a greater extent than did that of couples who married in earlier as well as later decades. (2003)2. A business firm chooses the price that maximizes its net revenues, irrespective of fluctuations in income; and increasingly the outlook of universities in the United states is indistinguishable from those of business firms. (2005)代词3. The rise in tuitions may reflect the fact economic uncertainty increases the demand for education. (2005)4. Each of us shares with the community in which we live a store of words and meanings as well as agreed conventions as to the way in which words should be arranged to convey a particular message; (2006)5. …whereas proper language does not consist of signs but of these that have to be learnt and that are wholly conventional. (2007)代词6. …there were proposals that independence should be lingui stically accepted by the use of a different language from those of Britain. (2008)7. …( young animals) compared with the human infant they very quickly grow the capacityto fend for them. (1998)代词8. …our own handwriting is something which we almost alw ays know . (2002)9. As we know, life would only be possible on the surface of a planet had temperatures somewhere within this range. (1996)10. The ways which universities make themselves attractive to students include soft majors, student evaluations o f teachers, (2005)关系代词11. There is no material in any language today or in the earliest records of ancient languages shows us language in a new and emerging state. (2007)V.ing & V. ed1. But this is a rather misled way of expressing the distinction. (2000)2. ...but the government had no wish to become involving, (2001)3. This power is usually delegated to committees—either standing committees, … or joint committees consisted of members of both houses. (2004)V.ing & V. ed4.They say the increases are needed because of a loss in value of university endowments heavily investing in common stock. (2005)5. …our prehistoric human ancestors consume primarily a vegetable diet supplementing with animal foods. (1999)6. Each of us shares with the community in which we live a store of words and meanings as well as agreeing conventions as to the way in which these words should be arranged to convey a particular language;…情态助动词1. Host and guest have been talking for some time, but now the host has an appointment to keep and can get away.(1997)短语形容词短语(介词和形容词的搭配)名词短语(名词和介词的搭配)VP介词短语短语1. Large numbers of us, in fact, remain through out our lives quite unconscious with what our speech sounds like (2002)2. But size is by no mean a good criterion for distinguishing the grammatical words of English, (2000)3. …the temporary decline in divorce did not occur in the same extent in Europe. (2003)短语4. And in rare occasions, to lay the groundwork for impeachment proceedings.(2004)5. An hour of hunting yields in av erage about 100 edible calories (1999)6. …they consider the human infant to be genetically programmed in such way that it can acquire language. (1998)短语7. Although young animals are certainly in risk, sometimes for weeks or even months after birth, (1998)8. ...the English speaker has in his disposal a vocabulary and a set of grammatical rules which enable him to communicate his thoughts and feeling, (2006)9. It is true that the absence of such evidence does not disprove the theory, but in other grounds too the theory is not very attractive. (2007)短语10. At the end, as everyone knows, the two countries adopted the practical and satisfactory solution of carrying on with the same language as before.(2008)11. T o handle with the crop of 1919, (2001)12. Plant foods provide for 60% to 80% of the Kung diet, (1999)短语13. The fact that such noises are similar on the lips of Frenchmen and Malaysians whose languages are utterly differently, serves to emphasize on the fundamental difference between these noises and language proper. (2007)14. This is only a tiny range compared with the low temperature of some other planets and the hot interior of the earth, let the temperature of the sun.(1996)短语15. Outside expert to assist in conducting investigative hearings and to make out detailedstudies of issues. (2004)16. …after all, as we have seen, speech operates as a means of holding a community and to give a sense of “belongings”. (2002)17.These young adults established a trend of early marriage and relatively large families that went for more than two decades and caused a major but (2003)短语18. This power is usually delegated to committees—either standing committees, special committees set for a specific purpose, or joint committees (2004)19. This is the first act he would make if he were rising. (1997)20. frequently, committees rely outside experts to assist in conducting investigative hearings and (2004)短语21. A business firm chooses the price that maximizes its net revenues, irrespective fluct uations in income: (2005)22…in fact some grammarians have called them “empty” words as opposed in the “full” words of vocabulary. (2000)23. …when we consider that we have lexical words as go, man, say, car. (2000)句子主谓一致语法结构一致成分多余成分残缺时态和语态虚拟语气It-句型句子1. …provided neither of them have been damaged in any way either before or during birth. (1998)2. ... the English speaker has at his disposal a vocabulary and a set of grammatical rules which enables him to communicate his thoughts and feelings,. (2006)3. The way in which university students make themselves attractive to students include soft majors, student evaluations of teachers, giving students a governance role, and eliminaterequired courses. (2005)句子4. The earth’s supply of water probab ly remains quite fairly constant in quantity. (1996)5. It had happened too often that they sold their wheat soon shortly after harvest when farm debts were coming due, (2001)6. Although a word like “the” is not the name of something as man is, it is v ery far away from being meaningless; (2000)句子7. The rise in tuitions may reflect the fact economic uncertainty increases the demand for education. (2005)8. Each of us shares with the community in which we live a store of words and meanings as well as agreed conventions as to the way in which words should be arranged to convey a particular message; (2006)9. At the time the United States split off from Britain, for example, (2008)句子10.. We begin the “natural” learning of pronunciation long before we start learning to read or write, and in our early years we went on unconsciously imitating and practicing the pronunciation of those around us for many more hours. (2002)11. For this reason, biologists now suggest that language be“species specific” to the human race, (1998)12. This is “natural”, therefore, that our speech—sounds should be those of our immediate circle; (2002)篇章逻辑问题( 语义错误或相反)衔接问题(连词或连接性状语的误用)从总体把握时态问题篇章1. He continues to talk to the guest and listen to him, but leans forward and grasps the arms of the chair as about to push himself upwards. (1997)2. Apart from a powerful capacity to pay attention to their helplessness by using sound, there is nothing the new born child can do to ensure his own survival. (1998)3. Wheat prices were generally low in the autumn, so farmers could not wait for markets to improve. (2001)篇章4. There is no material in any language today and in the earliest records of ancient languages which sows us language in a new and emerging state.(2007)5. Less noted but.., the men and women who formed families between 1940 and 1960 nevertheless reduced the divorce rate after a post-war peak; (2003)6. W e begin the “natural learning of pronunciation long before we start learning to read or write, and in our early years we went on unconsciously imitating and practicing the pronunciation of those around us for many more hours (2002)。
黄皮书07年英语作文The Yellow Book, published in 2007, is a comprehensive report on the current state of the economy, society, and politics in China. It covers a wide range of topics, including economic growth, social development, environmental protection, and international relations. The Yellow Book is widely regarded as a valuable resource for policymakers, researchers, and the general public, providing a detailed analysis of the opportunities and challenges facing China in the 21st century.In recent years, China has experienced rapid economic growth, becoming the world's second-largest economy. The Yellow Book provides a detailed analysis of this growth, examining the factors driving it and the potential risks and challenges it presents. It also explores the impact of China's economic development on the global economy, highlighting the opportunities for cooperation and the need for greater international coordination.The Yellow Book also addresses the social and environmental challenges facing China. It discusses theneed for sustainable development, emphasizing theimportance of balancing economic growth with environmental protection and social equity. It also examines the impactof urbanization and industrialization on China's society, highlighting the need for effective policies to address issues such as income inequality, rural-urban migration,and access to healthcare and education.In addition to its analysis of China's domestic challenges, the Yellow Book also provides an in-depth examination of China's foreign relations. It discussesChina's role in the global economy and its efforts to promote international cooperation and multilateralism. It also explores China's relations with other major powers, such as the United States, Russia, and the European Union, as well as its engagement with developing countries in Asia, Africa, and Latin America.Overall, the Yellow Book provides a comprehensive and insightful analysis of China's current state and its futureprospects. It offers valuable insights for policymakers, researchers, and the general public, helping to promote a better understanding of China's opportunities and challenges in the 21st century. As China continues to play an increasingly important role in the global economy and international relations, the Yellow Book serves as an essential resource for anyone seeking to understand the country's development and its impact on the world.。
2007英语1text2Title: Mental Health Crisis: An Urgent Call for Global Attention [2007英语1text2]Introduction:In recent years, there has been a growing concern about the declining state of global mental health. [2007英语1text2] highlights the importance of addressing the issue of mental health and its impact on individuals, families, and societies. This article aims to delve deeper into the subject, focusing on the causes, consequences, and potential solutions for the mental health crisis.Body:1. Definition and Scope of Mental Health Crisis:The World Health Organization defines mental health as a state of well-being in which individuals can cope with the normal stresses of life, work productively, and contribute to their communities. The mental health crisis denotes the increasing prevalence of mental disorders and the inadequate support systems for those affected.2. Causes of the Global Mental Health Crisis:a) Socioeconomic factors: Poverty, unemployment, and economic instability contribute significantly to mental health issues, including depression and anxiety disorders.b) Biological factors: Genetic predisposition and neurochemical imbalances play a role in mental illnesses such as schizophrenia and bipolar disorders.c) Traumatic experiences: Violence, abuse, wars, and natural disasters can lead to post-traumatic stress disorder (PTSD) and other mental health disorders.d) Stigma and lack of awareness: Society's limited understanding and discriminatory attitudes towards mental illness prevent individuals from seeking help.3. Consequences of Ignoring Mental Health:a) Personal consequences: Untreated mental illnesses can lead to poor quality of life, decreased productivity, and a higher risk of suicide.b) Societal consequences: Mental health issues incur enormous economic costs due to loss of productivity, increased healthcare expenses, and strain on families and communities.c) Global consequences: The mental health crisis hampers the achievement of Sustainable Development Goals by impeding socialprogress and perpetuating the cycle of poverty.4. Potential Solutions:a) Destigmatize mental illness: Promote public campaigns, education, and awareness programs to eliminate stigmas associated with mental health and encourage open conversations.b) Improve access to mental healthcare: Strengthen healthcare systems, especially in low and middle-income countries, by increasing mental health resources, training healthcare professionals, and improving community-based services.c) Integrate mental health into holistic healthcare: Recognize the interconnectedness of mental and physical health and develop integrated healthcare programs that adequately address both aspects.d) Enhance support systems: Establish comprehensive support networks, including psychosocial programs, counseling services, and crisis helplines, to address the diverse needs of individuals affected by mental health issues.Conclusion:The rising global mental health crisis is a grave concern that demands immediate attention. By recognizing the causes andconsequences of mental health disorders and implementing effective strategies, we can collectively work towards a healthier and more inclusive world. A concerted effort from governments, healthcare systems, communities, and individuals is crucial to combat the mental health crisis, ensuring a brighter future for everyone. [2007英语1text2] serves as a timely reminder of the need to prioritize mental health and work towards a more compassionate and supportive society.。
Employment in financial activities: double billed by housing and financial crisesThe housing market crash, followed by the financial crisisof the 2007-09 recession, helped depress financial activities employment; the industry recorded historic monthly job lossesthat persisted even after the recession endedGeorge PrassasGeorge Prassas is an economist in the Office of Employment and Unemployment Statistics, Bureau of Labor Statistics. Email: prassas. **************H istorically, employment in finan-cial activities1 has been affectedlittle by economic downturnsand usually has grown during an entirerecession or started to grow shortly aftera recession began. (See chart 1.) In starkcontrast, employment in financial activi-ties grew more slowly in 2006 and even-tually peaked in December 2006,2 1 yearbefore the official start of the December2007–June 2009 recession.3Even afterthe recession ended, employment in fi-nancial activities continued to decline.(See chart 2.)Leading into the 2007-09 recession,most employment losses in financial ac-tivities were concentrated in industries di-rectly involved in buying and selling homes.However, after the stock market declinedsharply in September 2008, all industrieswithin the financial sector began to cut jobsat unprecedented rates. These employmentlosses were uncharacteristic compared withthose sustained in previous downturns.Prerecession housing crashOver the past decade, employment changesin financial activities were tied closely tothose in construction. (See chart 3.) Between2000 and 2006, roughly 40 percent of thejob growth in financial activities occurred inindustries directly related to the selling andbuying of homes.4 During this period, construc-tion employment grew by 976,000,5 sales of newand existing homes increased by 14 percent and26 percent, respectively,6 home prices in the top20 major metropolitan areas in the United Statesdoubled,7 and mortgage rates reached historicallows.8 In order to continue to qualify consumersfor the purchase of a home, and to help drive thehousing market, lenders offered more creativefinancing options, such as 40-year mortgages,interest-only loans, and jumbo loans, in additionto the typical business practices of offering loansbased on fixed- and adjustable-rate mortgages,refinancing, and lending on the basis of homeequity. According to the Federal Reserve Bankof Dallas, “although low interest rates bolsteredhomebuying early in the decade, the expansionof nonprime mortgages clearly played a role inthe surge of homeownership.”9In 2005, sales of new and existing homesin the United States peaked, and employmentin construction and in several housing-relatedfinancial industries followed. (See chart 4.)Combined, employment in real estate credit,mortgage and nonmortgage brokers, and realestate agents and brokers reached a prerecessionemployment high in April 2006, correspondingwith an employment peak in the constructionindustry, and then declined by 184,000 throughDecember 2007. Real estate credit and mort-gage and nonmortgage brokers respectively lost32 percent and 34 percent of their workforceduring this period. Job losses continued throughThe 2007–09 Recession: Financial Activitiesthe end of the recession, although at a slower pace. Be-tween April 2006 and December 2010, housing-related financial industries lost 348,000 jobs and employment fell to its lowest level since January 1998.By mid-2007, delinquencies in mortgage payments had begun to rise, particularly among consumers hold-ing nontraditional loans.10Depository institutions, such as commercial banks and savings institutions, started to announce job cuts, and many underwent internal restructuring and discontinued nontraditional loan lending. Employment in depository credit in-termediation peaked in September 2007, leading the recession by 3 months. In October 2008, the financial markets experienced large losses, including a 17-per-cent decline in value according to the S&P 500 index.11 Commercial banks substantially decreased new loans and leases in bank credit. Job losses in depository cred-it intermediation accelerated, and employment fell at a record pace until reaching a trough in April 2010.In 2009, loans and leases by commercial banks fell by 10.3 percent.12 Without credit, most firms were in unsustainable budgetary situations and cut payrolls. Employment losses throughout the economy were tied to the inability of firms to attain credit to continue their day-to-day business activities.Financial crisis and job lossesWith ongoing job losses occurring in financial ac-tivities industries related to the housing market crash, a financial crisis that began after the start of the recession pushed losses into other industries within the sector. Em-ployment in the CES series titled “securities, commodity contracts, investments” had been largely unaffected during the first 9 months of the recession, but after the deterioration of the financial markets, job cuts quickly followed: between September 2008 and June 2009, 55,000 jobs were lost. (See table 1.)Employment in insurance carriers and related activities also was unaffected during the first 9 months of the reces-sion. However, year-over-year real personal consumption expenditures in insurance began to decline in April 2008 and accelerated as the recession grew more severe.13 With large layoffs occurring in most segments of the economy, households continued to cut back on personal consumption expenditures; insurance expenditures decreased at an annu-alized rate of 4.7 percent during the fourth quarter of 2008. New individual life insurance premiums, the main revenue stream for life insurance companies, dropped 14 percent that quarter.14 The decline in personal consumption expenditures, followed by contracting credit markets, coincided with large layoffs in insurance carriers.With both households and firms tightening their budgets and the loss of confidence in the market, establishments in rental and leasing services began to shed jobs. Employment in rental and leasing services generally follows the business cycle, because business in this industry is dependent on consumer spending. With personal consumption expenditures slashed and reduced access to credit, firms in automotive equipment rental and leasing and in consumer goods rental cut jobs.The 2007–09 Recession: Financial ActivitiesE MPLOYMENT IN FINANCIAL ACTIVITIES declined by 473,000, or 5.8 percent, during the historic 2007–09 recession. The job loss experienced during that time was the largest in both absolute and percentage terms during a recession in the history of financial activities employment. First the housing market crash, and then the financial market crisis, hit financial activities employment. During 2010, however, employment losses moderated, but the in-dustry continued to lose jobs and employment decreased to levels not seen since 1998.Notes1 This article uses the term “financial activities” to denote the North American Industry Classification System (NAICS; see North American Industry Classification System: United States, 1997 (U.S. Census Bureau, 1997), and North American Industry Classification System, 2002(U.S. Census Bureau, 2002)) industry sectors 52, or “finance and insurance,” and 53, or “real estate and rental and leasing.”2 The data on employment used in this article are from the Current Employment Statistics (CES) survey, a monthly survey of approxi-mately 140,000 nonfarm business and government agencies represent-ing approximately 440,000 individual worksites. For more information on the survey’s concepts and methodology, see “Technical Notes to Es-tablishment Survey Data Published in Employment and Earnings” (U.S. Bureau of Labor Statistics, Feb. 4, 2011), /web/cestn1. htm (visited Apr. 12, 2011). To access CES data, see “Current Employ-ment Statistics - CES (National)” (U.S. Bureau of Labor Statistics, no date), /ces (visited Apr. 12, 2011). The CES data used in this article are seasonally adjusted unless otherwise noted.3 Recessions are identified by the National Bureau of Economic Research (NBER), according to which the most recent recession began in December 2007 and ended in July 2009. The previous two reces-sions were from March 2001 to November 2001 and from July 1990 to March 1991, respectively. For a complete list of business cycle dates, see “U.S. Business Cycle Expansions and Contractions” (Cambridge, MA, National Bureau of Economic Research, Apr. 4, 2011), http:// /cycles/cyclesmain.html (visited Nov. 2, 2010).4 The housing-related financial industries are real estate credit, mortgage and nonmortgage brokers, and offices of real estate agents and brokers.5 For an overview of construction employment trends during the December 2007–June 2009 recession, see Adam Hadi, “Con-struction employment peaks before the recession and falls sharply throughout it,” this issue, pp. 24–27.6 The Census Bureau defines sales of new homes on the basis of the condition that “A sale of the new house occurs with the signing of a sales contract or the acceptance of a deposit” (see “Comparing New Home Sales and Existing Home Sales” (U.S. Census Bureau, no date), /const/www/existingvsnewsales.html (visited Apr. 12, 2011).) The house can be in any stage of construc-tion. Data on sales of new homes are found in “Houses Sold by Region” (U.S. Census Bureau, no date), /const/soldreg. pdf (visited Apr. 12, 2011). Data on existing-home sales are found in “Existing-Home Sales” (Chicago, National Association of Realtors, Mar. 21, 2011), /research/research/ehsdata (visited Apr. 12, 2011), and are provided by the National Association of Realtors®, which defines such sales on the basis of the condition that “the majority of transactions are reported when the sales contract is closed.” (See “Comparing New Home Sales,” which also discusses definitional differences between the two series.)7 Data on home prices appear courtesy of the Case-Shiller Home Price Index for the top 20 metropolitan regions, in “S&P/Case-Shiller Home Price Indices” (New York, Standard & Poor’s, no date), http:// /indices/sp-case-shiller-home-price-indices/en/us/?index I d=spusa-cashpidff--p-us----(visited Apr. 12, 2011).8 Data on mortgage rates appear courtesy of HSH Associates, in “Mortgage Rates Trends and Analysis” (Pompton Plains, NJ, HSH, no date), /mortgage_rate_trends/National/30-Year-FRM/2000-01_2011-01.html (visited Apr. 12, 2011).9 See “Insights from the Federal Reserve Bank of Dallas,” in Eco-nomic Letter (Federal Reserve Bank of Dallas, November 2007), http:// /research/eclett/2007/el0711.html (visited Apr. 12, 2011).10 See various charts on residential mortgage foreclosure and de-linquency rates from the Mortgage Bankers Association and Haver Analytics, /banking/markets_trends_ and_statistics/trends/pdf/delinquency_and_foreclosure_rates.pdf (visited Apr. 12, 2011).11 S&P500 index data appear courtesy of Standard and Poor’s. (See “S&P 500” (New York, Standard & Poor’s, no date), http://www. /indices/sp-500/en/us/?index I d=spusa-500-usduf--p-us-l-- (visited Apr. 12, 2011).)12 The Federal Reserve collects data on loans and leases by all commercial banks. To access the data, see “Assets and Liabilities of Commercial Banks in the United States (Weekly) – H.8” (Board of Governors of the Federal Reserve System, Apr. 1, 2011), http:// /releases/h8/current/default.htm(visited Apr. 12, 2011).13 In this article, data on real personal consumption expenditures for insurance are from the Bureau of Economic Analysis. (See “Table 2.4.6U. Real Personal Consumption Expenditures by Type of Product, Chained Dollars,” entry 264 (Bureau of Economic Analysis, Mar. 28, 2011), http:// /national/nipaweb/nipa_underlying/TableView.asp? SelectedTable=18&FirstYear=2009&LastYear=2010&Freq=Qtr& ViewSeries=Yes (visited Apr. 12, 2011).)14 In this article, data on annualized life insurance premiums ap-pear courtesy of the Life Insurance and Market Research Association. (See “LIMRA Reports Sharp Quarterly Drop in Individual Life In-surance Sales” (Windsor, CT, LIMRA International, Feb. 24, 2008), /newscenter/newsarchive/archivedetails. aspx?prid=83 (visited Apr. 12, 2011).)。
高级商务英语系列教材总主编:叶兴国王光林高级综合商务英语1主编:彭青龙(习题答案)外语教学与研究出版社Unit 1 GlobalizationLead-in1. Quiz1) B 2) C 3) D 4) A 5) A2. A Mini CaseSuggested answers:●As Zara continues to expand, it might have to open other distribution centers onother continents. Language, culture, and work relations may vary significantly from the closely-managed operation currently in place in Spain. The company may run into more specific challenges in accommodating customers‘requirements due to a lack of cultural sensitivity. Zara‘s expansion globally may pose the challenge of moving from a more centralized management style to a more global style.●Lorena needs to ensure that she has a truly international team in place withmembers from both multilingual and multicultural background; draw up a plan on how global logistics will support global expansion; start a succession plan and train new logistics managers who could be ready to take on overseas responsibilities; and encourage store managers to include suggestions on cultural specifics which may help in making the final product and brand expansion successful.Text AI.Reading Comprehension1.Determine whether the following statements are true or false. Write a T fortrue, an F for false, and an NG for not given.1) T 2) F 3) T 4) F 5) F 6) T 7) T 8) F 9) T 10) NG2.Essay Questions1)The modern multinational companies have had passed through three phases. Firstcame the 19th-century ―international model‖, with firms based in their home country and selling goods through overseas sales offices. This was followed by the classic multinational firm in which the parent company created smaller versions of itself in countries around the world. And now it has been replaced by a single integrated global entity in which the firm will move people and jobs anywhere in the world, based on the right cost, the right skills and the right business environment.2)The big attractions from emerging markets are low-cost labor, highly skilledpersonnel, and a chance to cooperate with the government as a potential customer.3)They are lacking the management talents who can practice and support businessoperating models that will allow them to generate profitable growth in more mature markets over the long term.4)The single biggest challenge facing Western multinationals is the lack ofemerging-market experience in their senior ranks. Moreover, multinationals have great trouble retaining the managers they do have in emerging markets.―Well-trained, good, honest people are scarce in emerging markets. Multinationals are better at training these people than emerging-market companies, which prefer to poach them once they are trained.‖II.Blank-filling: Complete the following sentences with the words given in the box. Change the form when necessary.1) cutting-edge 2) commoditized 3) aggressive 4) forge 5) benchmark 6) blueprint 7) expatriates 8) deploy 9) ferocious 10) substantial III.Paraphrasing1.Rewriting: Rewrite the underlined part of each sentence in your own words.1) ―In the 97 years of the company‘s history, never had a particular kind of product or merchandise been managed outside the U.S.,‖he says excitedly, noting that ―Latin America now reports to Shanghai.‖2) But the assault on its services business led by a trio of Indian outsourcing upstarts, Tata Consulting Services, Infosys and Wipro, posed a big threat to the field that might be the main sources of growth for the company as expected by Mr. Palmisano.3) In many emerging markets the most attractive potential customer is the government, because of the government‘s urgent needs to improve the infrastructure facilities in a wide range, from the mobile telephone networks to roads, airports and ports, energy and water supply.4) A 2007 study of China‘s top 200 publicly traded companies found that it is still difficult even for the leading companies in China to compete with those global giants.5) American multinationals now have a ―ferocious interest in attracting non-Americans to the board‖, but they can find only a few qualified executives from the European countries, not to mention those from emerging markets.2. Sentence Transformation: Complete the following sentences based on the structures given.1) Because of the fact that hot labor markets in emerging markets are causing extremely high turnover rates, every big multinational is aiming to win the ―war for talent‖ and taking it as one of the most urgent issues.2) It is believed that as a big multinational company it enjoys advantages in recruiting and retaining talented managers than the local competitors.3) Despite the growth of their revenue which increased on the back of China‘s continued economic growth, they could only create half of the value of their global competitors.4) No longer the ―young bucks or retirement-posing types‖as they used to be,nowadays the expatriate managers appointed by multinationals to work in emerging markets are generally of a much higher quality.5) Compared with those old multinationals, the firms in emerging markets are typically lacking the depth of management talent, though the founders are often impressive.IV.Translation1.Sentence Translation1) 这一雄心勃勃的策略是对来自新兴市场的激烈竞争做出的回应。
Hot Economic Issues 2007As a reform research institution based in Hainan, China Institute for Reform and Development (CIRD) has been providing intellectual services for the Boao Forum for Asia over the past six years. These services include recommending key topics for and drafting comprehensive summary reports on its annual conferences as well as drafting minutes for its annual board meetings and annual member conferences. The following selections are CIRD opinions on this year's hot economic issues:RMB patience is a virtueThe renminbi exchange rate has always been a sensitive issue, but judging from recent exchange rate reforms, decision makers in the Chinese Government have reached consensus for reform. The general posture is that a market-oriented and more flexible exchange rate mechanism should be further improved, but since this reform covers a wide range of issues and has far-reaching influences, patience is required.According to the established mechanisms, the renminbi exchange rate may appreciate at an annual rate of less than 5 percent during 2006-10. While reform of the renminbi exchange rate has been incorporated into the 11th Five-Year Plan (2006-10), the major problems China now faces are an excessive trade surplus and the rapid increase of foreign exchange reserves.As regards the latter, China has to expand its money supply. The government work report delivered by Premier Wen Jiabao at the Fifth Session of the 10th National People's Congress states that, "effectively addressing the problem of excess liquidity in the banking system" is among the major tasks of the Chinese Government. In order to relieve excess liquidity, the central bank has increased the reserve requirement ratio twice since the beginning of the year.The government also strengthened its efforts at reigning in excess liquidity following the Spring Festival---when banks rush to supply loans---hoping to control growth of loans and fixed assets investments within reasonable limits by raising the reserve requirementratio. In this respect, if excess liquidity is not reduced by raising the reserve requirement ratio, the renminbi would face heavier pressure to appreciate, and vice versa. Moderate renminbi appreciation is generally beneficial to the Chinese economy. First, it helps relieve excess liquidity and pressure from over-heated investments and housing price hikes. Second, if companies have expectations about stable renminbi appreciation--although it may influence the exports of some companies--this can force them to improve internal management practices and push them to transfer price advantages into new competitive advantages, aiding the economy in the end. Third, appreciation can correct distorted exchange rates, preventing Chinese companies from producing so-called cheap products through consuming massive resources.Moderate renminbi appreciation is beneficial to other Asian nations. It increases the competitiveness of Asian exports; and in turn, China imports more from across Asia. Renminbi, if allowed to appreciate at a moderate rate, also benefits the global economy. Moderate appreciation will not be serious economic disturbances in China and the economy will retain a steady growth rate, in essence buoying the growth of the global economy.Financial reforms gain paceFinancial reform has recently quickened in China, with the banking, securities and insurance sectors leading the way. The introduction of the shareholding system instate-owned commercial banks has led several state-owned commercial banks to list on overseas stock exchanges. The reform of the shareholder structure is close to completion. Other reform success has occurred within the property rights system, corporate governance and with internal control mechanisms. Since the reform of the exchange rate in 2005, the renminbi exchange rate has gained flexibility. An insurance sector reform blueprint has been formulated and rapid development is expected in this arena.The national financial work conference, occurring once every five years, was held on January 19th, 2007 in Beijing. Four days later, the Political Bureau of the Central Committee of the Communist Party of China met to discuss a strategic plan for financialreform. The Chinese financial industry is at an important turning point and a crucial development stage. Momentum towards its reform is expected to continue.In the latest government work report, Premier Wen Jiabao laid out six tasks developed to accelerate financial reform in 2007. The following summarizes Premier Wen's remarks: The first task is to deepen reform of state-owned banks. This will be led by transforming state-owned commercial banks to joint-stock companies. Shareholding systems will be introduced with the Agricultural Bank of China. Additional reforms will focus on the China Development Bank.Second, reform of the rural banking system will accelerate. A system of rural financial organizations with a proper division of work, diversified investment and a full range of functions that provide efficient services will be established. The Agriculture Bank of China and the Agricultural Development Bank of China will serve as the backbone of rural banking. Rural credit cooperatives will be reformed and the role of the China Postal Savings Bank in serving agriculture, rural areas and farmers will be strengthened. Controls will be relaxed on the establishment of rural financial institutions, with banking functions and investment in rural financial institution form varied sources of capital encouraged. New types of financial organizations suitable for rural areas will be explored, and efforts to innovate financial products and services will be strengthened, eliminating difficulties farmers encounter in obtaining loans.Third, development of capital markets will be a priority. The development of a multi-level system for capital markets will be promoted, and the amount and proportion of direct financing will be increased. The development of the stock market, the accelerated development of the bond market and the active yet prudent development of the futures market will be encouraged. Basic market systems will be further strengthened, reforms of the system for issuing stocks and bonds will continue to make it more responsive to market conditions, effectively raising the quality of listed companies and strengthening market oversight.Fourth, reform of the insurance sector will deepen. Expanded insurance coverage and improved services will be provided by insurance companies. Their ability to handle risk will be addressed.Fifth, the financial sector will further open to foreign competition.Sixth, strengthening and improving financial oversight, improving mechanisms for coordinating oversight and effectively guarding against and defusing financial risks will be developed in order to maintain China's financial stability and security.Reigning in housing pricesOver the past year, rising real estate prices have been a hot topic across China. A survey conducted last year by the Social Survey Institute of China querying residents of over 16 cities found that 75.3 percent of respondents were concerned about the high cost of real estate.While it will be difficult to reverse these trends in 2007, government intervention is attempting to control the rapid increase of housing prices.In recent years, the government has put stabilizing housing prices at the top of its list of priorities. At the beginning of 2007, Premier Wen Jiabao stressed the importance of attending to this area and reiterated that securing and improving the livelihood of the people is the basic function of the government. Hence, regulation measures by the Central Government will be strengthened, instead of weakened, in 2007.In his government work report, Premier Wen pointed out that the real estate industry plays a major role in developing the economy and improving the housing conditions of the people, and the government must promote the industry's sustained and sound growth. The following summarizes Premier Wen's remarks:In 2007, the government will attempt rational regulation of the real estate sector. Taking into consideration the fact that China has a large population and relatively little land available for building housing, as well as the current level of its economic development, appropriate plans are needed. Environmentally friendly buildings that conserve energyand land, and development of a Chinese model for housing consumption, are important goals.Second, the real estate industry should focus on developing affordable housing for ordinary people. The government will pay particular attention to addressing the housing problems of low-income families by increasing fiscal and tax policies supporting and setting up a sound system of low-rent housing. Improving and standardizing the system of affordable housing is important in this respect.Third, the proper use of both government regulation and market forces to maintain a reasonable scale of real estate investment, while improving the supply of commercial housing, strengthening oversight and regulation of housing prices, preventing overheating in housing prices and keeping prices at a reasonable level should be aimed for.Fourth, efforts will intensify to ensure order in the real estate market, strengthen oversight over it, and uphold laws and regulations in all facets of the real estate industry, including development, sales and real estate agencies. Local governments at all levels must assume their full share of responsibility for regulation and oversight of local real estate markets.Transforming the energy sectorIn the government work report, Premier Wen Jiabao stated that the country fell short of targets for cutting energy consumption by about 4 percent per unit of GDP, and by 2 percent on the total discharge of major pollutants. However, he also pointed out that meeting these two mandatory targets in the 11th Five-Year Plan is very important. The targets cannot be revised, so working resolutely to reach them is a major goal.Since conserving energy and reducing energy consumption is so important to the transformation of economic growth patterns, the State Council has established detailed targets for every province, autonomous region and municipality. Leaders in these localities are tasked with working out objectives and plans in varying stages and creating objectives for accomplishing them.Judging from circumstances in China, it is increasingly urgent to improve the energy structure. At present, the reliance on coal as the major energy source ensures stable development of the world's most important economic system, and helps growth of global trade. At the same time, it also leads to low efficiency of energy utilization, heavy pressure on the environment and high costs of social management. To change the structure away from using coal as the major energy source will be the only road for China to transform its economic growth pattern.From a sustainable development point of view, gas will likely become the most important energy source, along with simultaneous development of gas, petroleum and coal resources. This could be the most ideal road for China's modernization of energy structureConservation and environmental protection keys for 2007According to requirements stipulated in the 11th Five-Year Plan, by 2010, China must cut energy consumption by 20 percent per unit of GDP and reduce emissions of major pollutants by 10 percent. These are binding goals. However, an official from the State Environmental Protection Administration (SEPA) said that emissions of major pollutants in 2006 had increased and according to the National Development and Reform Commission (NDRC), the national goals of conserving energy and reducing energy consumption in 2006 had not been reached. Statistics showed that only provinces or municipalities such as Guangdong, Shandong, Beijing, Shanghai and Tianjin accomplished their goals last year.Now is a crucial time for China to conserve energy, reduce energy consumption and promote the transformation of economic growth patterns through conservation and reduction of consumption. President Hu Jintao stressed late last year the urgency of building an environmentally friendly, energy conserving society and doing the utmost in conserving energy and reducing energy consumption. The NDRC released a document at the end of 2006 requiring local departments responsible for energy consumption to verify energy reports and plan for energy conservation of 1,000 enterprises within prescribed time limits. As of January 1, 2007 they are also tasked with carrying outaccession and examination of energy conservation in fixed assets investment projects. Projects that are not carried out or fail to pass examination shall not be approved and permitted for construction.As for environmental protection, the SEPA and the People's Bank of China declared on January 9, 2007 that the incorporation of environmental protection information from enterprises will be added into the corporate credit information system as of April 1. This will require commercial banks to consider whether the enterprises abide by environmental protection laws as important grounds when considering granting loans. That is to say, enterprises that break environmental protection laws will not receive loans. To China, the ultimate way to establish an economical and environmentally friendly society is to promote market reform and enhance scientific and technological innovation. Since property rights reform of enterprises has lagged behind, some enterprises do not care about environmental costs and don't see the point in conserving energy and reducing energy consumption. Moreover, market reform of resource prices has also lagged behind, meaning prices do not reflect scarcity. Accelerating technological innovation can lead China out of a growth pattern that depends on exhausting resources and the environment; the sooner the better.The growth of SMEs as an economic focal pointAt present, China is witnessing rapid growth of small- and medium-sized enterprises (SMEs). These are playing an active role in strengthening economic growth, expanding employment channels, opening the economic system, optimizing ownership structure, improving industrial competitiveness and promoting urbanization and industrialization. Further, SMEs are a major force in technological innovation.By the end of October 2006, the number of SMEs in China had reached 42 million. This accounts for 99.6 percent of the total number of enterprises in the country. SMEs contributed 58.5 percent to the county's total value of final products and services, 59 percent to the retail sales of total commodities that the country produced, 48.2 percent to taxes and 75 percent to job opportunities. At present, 65 percent of the country's invention patents and 80 percent of new products are developed by SMEs. A largenumber of new technologies are utilized for industrial production by SMEs. This sector is also promoting adjustment of the economic structure, with many developing businesses in fields such as infrastructure, mechanical, electrical manufacturing and services. Expanding consumption provides a vast market for SMEs. Improvement in policies supporting and providing a beneficial environment for SMEs is occurring. Economic globalization, innovation in science and technologies, as well as industrial restructuring worldwide, will provide ample opportunities for the development of SMEs during the coming years.In the future, China will strive to promote the transformation of SMEs in four aspects, improving their quality and competitiveness all round: transforming from quantity-oriented to quality-oriented; transforming from extensive growth to sustainable development; transforming from sole ownership to entering into partnerships; and transforming the motive of economic benefit by focusing on both economic benefits and social responsibilities.The Chinese Government, based on the idea of allowing market mechanisms to work, will ensure practical policies providing more effective services to SMEs. Relaxation of regulations on market access for SMEs, with principles of equal access and fair treatment, will improve the environment for business start-ups. Every effort will be made to relieve difficulties in accessing financing, and mechanisms will be established for protocols of initial investment and exit. Improvement of social services and strengthened efforts in technological innovation, as well as human resource development, will also help promote healthy development of SMEs.Prospects for China-ASEAN relationsSince the establishment of the dialogue mechanism in 1991, China and the Association of Southeastern Asian Nations (ASEAN) have carried out continuous communication and cooperation. Bilateral relations have developed into close and strategic cooperation in multiple fields. China and the ASEAN members are all developing countries. Although there are differences and competition between the two parties, they are also complementary to each other in many fields.ASEAN is China's fifth largest trading partner, the nation's fifth largest exporting destination and its fourth largest importing source. According to statistics from the Ministry of Commerce, since 1991, bilateral trade between China and ASEAN countries has been increasing at an average annual rate of more than 20 percent. Many ASEAN members have trade surpluses with China. In 2006, China's trade deficits from ASEAN nations totaled $18.22 billion, with $11.94 billion from the Philippines, $10.04 from Malaysia and $8.2 from Thailand.Renminbi appreciation strengthens this trend and will bring huge opportunities to ASEAN members. ASEAN not only needs Chinese products, it also needs Chinese technologies, experience and capital. Huge potential exists in terms of bilateral cooperation. Increasingly, Chinese companies are attentive to and willing to cooperate with ASEAN members. China's three petroleum companies have established four energy development areas in the world, one of which is located in Southeast Asia with Indonesia, Malaysia and Brunei as the key areas of concentration.At the Commemorative Summit marking the 15th Anniversary of ASEAN-China Dialogue Relations in October 2006, Premier Wen declared that China-ASEAN relations are now in their best stage of development. The average tariff between China and ASEAN will fall to 6.6 percent in 2007 and 2.4 percent in 2009. By 2010, 90 percent of the products China imports from ASEAN countries will be tariff free.In January 2007, China and ASEAN signed a free trade area, service trade agreement. Starting from July 2007, China will further open its market in 26 fields within five service sectors: environmental protection, construction, commerce, sports and transportation. The aim of this is to expand trade exchanges between the two partners. At the same time, ASEAN will also open its markets in education, tourism, construction and finance to China, allowing ASEAN to establish sole proprietorship companies or joint ventures. Stock-holding restrictions will also be reduced.。