Text B Updated Policy Will Yield Win-Win Results f...
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自20世纪80年代中后期开始，中国开始采取激励政策，加大对外资的吸引力度。目前外资企业创造了中国约1/3的工业产值，提供了全国超过1/5的税收，雇用了2 000多万名员工。截至2007年11月底全球来华投资的国家和地区已经超过了190个，累计批准设立外商投资企业63万家。实际使用外资金额达7 471亿美元，全球500强已有近490家在中国设立了企业和机构，跨国公司在华设立研发中心超过1 160项。外商投资企业已经成为中国经济和社会发展的重要组成部分。
As part of ongoing efforts to attract foreign capital into China,the Central Government has adopted more open policies toward potential overseas investors.
Compared with its predecessor,the 2011 version of the catalogue for Guidance for Foreign Investment in Industry,effective January 30,increases the number of items in the category of encouraged investment,reduces the number of items in the categories of restricted and prohibited investment and eliminates the limit of shares by foreign investors in some sectors.For the items of encouraged investment,foreign investors will enjoy related favorable policies.For example,in central and western regions,foreign investors can receive a 15-percent corporate income tax break.
“To adapt to the new situation of deepening economic globalization,China will adopt a more active and open strategy,expand more sectors of opening,promote reform and development via opening and create a better investment environment,” said a news release from the National Development and Reform Commission (NDRC).
The Catalogue is an important industrial policy that China uses to guide foreign direct investment.Since its introduction in 1995,it has been revised five times to meet the needs of economic development and opening up.
Ten years have passed since China’s accession to the WTO.Now that China is closely connected with the world economy and its investment environment has improved continuously.As a result,the scale of foreign investment has expanded,ranking second in the world.Foreign investment has played an active role in promoting China’s economic growth,creating jobs,upgrading industrial structures and expanding foreign trade.
However,China still faces various challenges in utilizing foreign investment.According to a release from the NDRC,in China,prices of capital goods rise rapidly and upgrading of industrial structure is urgent.In the international community,the global financial crisis has created the need to make major changes to the global economic structure.These changes require China to further optimize the structure of foreign investment and improve the efficiency of utilizing foreign capital.This is one of the reasons that China is creating a more welcoming environment for foreign investment.
Another reason is that since foreign investment is an important part of China’s opening-up process,the Chinese Government hopes to appropriately readjust its industrial policies for foreign investment by revising the catalogue,actively guiding foreign investment and promoting ongoing economic restructuring,and transforming the country’s economic growth pattern.
Serving the restructuring
In 2012,with the U.S.dollar still relatively weak and the European debt crisis far from over,international capital favors the Chinese market.Facing the growing scale of foreign investment,China must utilize this favorable factor and continue to constantly improve the efficiency of introducing foreign investment.
The catalogue intends to guide foreign investment into high-end manufacturing industries,strategic emerging industries and the recycling economy,which are the key sectors during the restructuring of petroleum and chemical industries,and also pillar sectors of future development of industries.
To promote upgrading of the industrial structure,the NDRC guides more foreign investment into industries such as modern agriculture,new technologies,advanced manufacturing,new energy and modern services to develop a modern industrial system.By expanding the service sector and enhancing coordination of primary,secondary and tertiary industries,the commission encourages transnationals to increase input in research and development (R&D) in China,establishes R&D centers and cooperates with Chinese companies in R&D to improve ties with foreign investors and enhance China’s independent innovation capabilities.
The catalogue also restricts or prohibits foreign-funded projects featuring “high pollution and high energy and resource consumption”.In order to curb access capacity and redundant construction,the catalogue removes industries like polycrystalline silicon and coal chemical from the category of encouraged investment.
Wang Haisheng,an analyst at Huatai United Securities Co.Ltd.,said throughout the world,polycrystalline silicon projects have been excessive.At present,the production capacity of the world’s top five photovoltaic enterprises related to polycrystalline silicon can fully satisfy the market demand.Moreover,the development of Chinese polycrystalline silicon industry has already reached the world level,stifling the need for foreign investment.
Financial leasing allowed
The Catalogue has removed foreign-invested financial leasing companies from the category of limited investment to that of allowed investment.
Financial leasing is called cardiac stimulant during economic recession.In the background of global economic recession and tightened money supply in various countries,bank credit has been unable to satisfy the demand of engineering enterprises,therefore financial leasing has become a big source of funds.
Yang Haitian,Editor in Chief of the Blue Book of China’s Leasing Industry,said in many countries,financial leasing is the second largest financing source after bank credit.In China,financial leasing is still in its infancy.
After China entered the WTO,foreign-invested leasing started development in China,but its growth has been restricted with high requirements on access and business operations.In 2005 China issued Management Measures of Foreign-Invested Financial Leasing Companies.Some Chinese banks and companies also began to enter the financial leasing industry.In 2007,China promulgated Management Measures of Financial Leasing Companies,which covered domestically invested companies.
According to the Blue Book of China’s Leasing Industry,by now there are more than 280 financial leasing companies in China,including 20 bank-invested ones,60 manufacturer-invested ones and 200 independent ones.Among them,66 are domestically invested and more than 200 are foreign invested.However,bank-invested financial leasing companies,all domestically invested,occupy more than 60 percent of the domestic market share,and foreign-invested financial leasing companies have not fully released their strength in China.
Yang said removing financial leasing from the category of limited investment to that of allowed investment will help promote the development of China’s financial leasing industry,expand financing channels and alleviate the industry’s bottleneck of capital shortages.
Words & Expressions
1.predecessor['priːdisesə，'pre-] n.前任；前辈
2.restricted[ri'striktid] adj.受限制的；保密的
3.prohibited v.禁止；被禁止的（prohibit的过去分词形式）
4.eliminate[i'limineit] vt.消除；排除
5.globalization[，ɡləubəlai'zeiʃən] n.全球化
6.continuously[kən'tinjuəsli] adv.连续不断地
7.optimize['ɔptimaiz] vt.使最优化；使完善
vi.优化；持乐观态度
8.crisis['kraisis] n.危机；危险期；决定性时刻
9.favorable['feivərəbl] adj.有利的；良好的；赞成的；赞许的；讨人喜欢的
10.efficiency[i'fiʃənsi] n.效率；效能；功效
11.catalogue['kætəlɔɡ] n.目录；（美）大学情况一览
12.manufacturing[，mænju'fæktʃəriŋ] n.制造业；工业
13.consumption[kən'sʌmpʃən] n.消费；消耗；肺痨
14.redundant[ri'dʌndənt] adj.多余的；过剩的；失业的；冗长的；累赘的
15.polycrystalline[，pɔli'kristəlain，-lin] adj.［晶体］多晶的
16.silicon['silikən] n.硅；硅元素
17.stifle['staifl] vt.扼杀；使窒息；藏匿
18.leasing['liːsiŋ] n.租赁
19.cardiac['kɑːdiæk] n.强心剂；强胃剂
adj.心脏的
20.stimulant['stimjulənt] n.[药]兴奋剂；刺激物
adj.激励的；使人兴奋的
21.infancy['infənsi] n.婴儿期；幼年；初期
22.domestically[də'mestikəli] adv.国内地；家庭式地；适合国内地
23.bottleneck['bɔtlnek] n.瓶颈；障碍物
24.disposal[dis'pəuzəl] n.清理；处理；支配；安排
25.shale[ʃeil] n.[岩]页岩；泥板岩
Notes
1.NDRC （National Development and Reform Commission国家发展和改革委员会）： The National Development and Reform Commission，formerly State Planning Commission and State Development Planning Commission，is a macroeconomic management agency under the Chinese State Council，which has broad administrative and planning controls over the Chinese economy.
The NDRC’s functions are to study and formulate policies for economic and social development,maintain the balance of economic development,and to guide restructuring of China’s economic system.
2.WTO （World Trade Organization世界贸易组织）： The World Trade Organization （WTO） is an organization that intends to supervise and liberalize international trade.The organization officially commenced on January 1，1995 under the Marrakech Agreement，replacing the General Agreement on Tariffs and Trade （GATT），which commenced in 1948.The organization deals with regulation of trade between participating countries； it provides a framework for negotiating and formalizing trade agreements，and a dispute resolution process aimed at enforcing participants’ adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments.Most of the issues that the WTO focuses on derive from previous trade negotiations，especially from the Uruguay Round （1986—1994）.
The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round),which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world’s population.However,the negotiation has been dogged by “disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a ‘special safeguard measure’ to protect farmers from surges in imports.At this time,the future of the Doha Round is uncertain.”
Exercises
I.Fill in each of the following blanks with the most suitable word given below.Change the form if necessary.
predecessor restricted prohibit eliminate continuously
optimize crisis favorable infancy disposal
1.We should ________the sale of pornographic literature.
2.Surely he can help me,for he has money at his ________.
3.We should ________the composition of the standing committees.
4.Officer: Madam,swimming is ________in this lake.
5.The weather seemed ________for the flight.
6.My present car is much better than its ________.
7.To safeguard our country we must ________strengthen our defenses.
8.The weather seemed ________for the flight.
9.We need a president we can trust in times of ________.
10.If I can ________a defect,I improve my productivity.
II.Decide whether each of the following statements is true (T) or false (F) according to the passage.
1.As part of ongoing efforts to attract foreign capital into China,the Central Government has adopted more open policies toward potential overseas investors.( )
2.Now that China is closely connected with the world economy and its investment environment has improved continuously.As a result,the scale of foreign investment has expanded,ranking first in the world.( )
3.In 2012,with the U.S.dollar still relatively weak and the European debt crisis far from over,international capital will favor the Chinese market.( )
4.The Catalogue intends to guide foreign investment into low-end manufacturing industries,strategic emerging industries and the recycling economy.( )
5.To promote upgrades to the industrial structure,the NDRC will guide more foreign investment into industries.( )
III.Try to fill in each of the following blanks with suitable words.
1.For the items of encouraged investment,foreign investors will enjoy related ________.
2.The catalogue is an important industrial policy that China uses to guide foreign direct investment.Since its introduction in 1995,it has been revised ________times to meet the needs of economic development and opening up.
3.Foreign investment has played an active role in promoting China’s economic growth,creating jobs,upgrading ________and expanding foreign trade.
4.According to a release from the NDRC,in China,prices of ________rise rapidly and upgrading of industrial structure is urgent.
5.After China entered the WTO,foreign-invested leasing started development in China,but its growth has been restricted with high requirements on ________.