商務英語中級閱讀材料

商務英語中級閱讀材料

　　引導語：下班，小編為大家帶來商務英語中級的閱讀材料，希望可以幫助到大家，謝謝您的閱讀。

　　閱讀材料一

　　When I am interviewed, I am occasionally asked: “What is the secret of business success?”

　　If I knew the perfect answer, I would have made far fewer mistakes over the years; in truth I suspect there are many ingredients. Nevertheless, as an exercise, I have noted below a number of contributing factors that I think matter more than most.

　　1.Work for yourself. To be self-employed can be lonely, and is likely to be hard work. But ultimately you will gain the rewards for your efforts if you are right – as long as you are lucky. You can certainly earn a handsome living working in a big bank or an accountancy firm, but you will never achieve a spectacular capital gain, or change the world in the way that an entrepreneur can by fulfilling their dream.

　　2. Be in the right place. History shows that growing markets, where entrepreneurs are encouraged, offer greater opportunities than places where there is stagnant demand, high tax and lots of regulation. On that basis, anyone with little to lose who is living in the west should emigrate to the east: it's what I advise anyone under the age of 30 to do. This is a harsh verdict, and inevitably there are thousands of exceptions. But it is undeniable that far more new millionaires and billionaires are being minted in countries such as India and China than in Europe. Growing gross domestic product, expanding populations, low costs and modest tax rates offer a powerful combination that the west simply cannot match.

　　3.Learn how to borrow. An ability to find and use debt is a factor in most stories of great wealth. Even if banks are not extending much credit right now, the cycle will turn and eventually they will reopen for business. I was slow to realise the fundamental importance of using debt. Many entrepreneurs overdo it at the top, and end up losing many of their leveraged assets when prices fall. But somehow they rarely go bankrupt, and very often reappear with new bankers in tow when the cycle turns.

　　參考譯文

　　在我接受采訪時，偶爾會有人問我：“企業成功的秘訣是什么?”

　　如果我當初知道正確答案，那么這么多年來我會少犯很多錯誤;實際上，我認為成功的要素有許多。不過，我還是嘗試著列出了以下幾個在我看來最重要的影響因素。

　　1.為自己工作 自己當老板可能會很孤單，而且可能工作繁重。但只要你走運，而又判斷正確，你最終會為自己的付出獲得回報。在一家大銀行或會計師事務所打工，你肯定能生活得不錯，但你永遠不會獲得豐厚的資本收益，或者像企業家那樣實現夢想，改變世界。

　　2.占取地利 歷史經驗表明，相對于需求低迷、稅賦沉重、監管嚴格的市場，鼓勵創業的成長型市場會提供更大的機遇。有鑒于此，所有沒什么可失去的西方人，都應該移居東 方：對30歲以下的年輕人，我都是這樣建議的。這是個粗略的判斷，必然存在諸多例外。但不可否認，印度和中國等國創造的新科百萬富翁和億萬富翁，要遠遠多 于歐洲。國內生產總值(GDP)不斷增長，人口持續增加，成本低廉，稅賦適中，這些因素的強大組合令西方難以望其項背。

　　3.學習如何借債 獲得并利用債務的能力，是大多數巨額財富故事中的一個要素。即使目前各銀行發貸不多，但周期會轉向，銀行最終會再次向商業敞開大門。我花了很長時間才認識 到利用債務的根本重要性。許多企業家在信貸高峰期做得太過火，最終在資產價格下跌時失去了大量杠桿資產。但他們很少破產，往往會在周期轉向時，攜手新的銀 行家卷土重來。

　　閱讀材料二

　　Hong Kong has long attracted attention in the global property world due to the volatility of its real estate prices. Now, however, it has shot into the spotlight for another reason - property derivatives.

　　On the 27th Feb ABN Amro bank and Sun Hung Kai Financial announced that they had traded a property swap based on Hong Kong's residential market, marking the first such transaction ever to be done in Asia.

　　With the ink now dry on the Hong Kong deal, bankers are predicting that a similar deal could take place in Australia in the next three months, followed by another transaction in Singapore in the next six months, and transactions in Japan and Korea towards the end of the year.

　　That means that in a few months' time an investor may potentially be able to "buy" an office in Sydney, "sell" a retail store in London and "buy" a residential property in Hong Kong by placing just one phone call, bankers say.

　　If so, this will mark a striking turnround for a sector that some bankers believe could soon be an exciting new frontier for financial innovation, not just in Hong Kong but around the world.

　　參考譯文

　　長期以來，香港一直因其房地產價格的波動性而吸引著全球地產界的目光。而如今，香港卻由于另一個原因而舉世矚目--房地產衍生品。

　　2月27日，荷蘭銀行(ABN Amro)和新鴻基金融(Sun Hung Kai Financial)宣布，雙方以香港住宅市場價格為基礎，進行了一筆"房地產掉期"交易，這是亞洲首筆此類交易。

　　隨著香港此筆掉期交易的完成，銀行業人士預測，未來3個月，澳大利亞可能會出現類似交易，而未來6個月同樣的情況將出現在新加坡，今年年底前，日本和韓國也將出現類似的交易。

　　銀行業人士表示，這意味著幾個月后，投資者可能只需撥打一個電話，就可以"買進"悉尼的一間辦公室，"賣出"倫敦的一家零售商店，或是在香港"買進"一處住宅地產。

　　果真如此，這將標志著房地產行業一個引人注目的轉折點。一些銀行業人士認為，該行業可能很快將成為一個令人興奮的新金融創新領域，不僅是在香港，也是在全球。

　　閱讀材料三

　　Until a couple of years ago, property derivatives existed only in theory. But in recent months the sector has started to grow rapidly: in the UK, which barely had a market two years ago, there have been more than 300 deals worth in total close to ￡5bn, according to figures from Investment Property Databank, the research firm. A number of transactions have been completed in the US and continental Europe, and bankers expect this to grow.

　　The inaugural transaction in Asia, at less than HK$100m ($13m), is small by global standards. But it comes amid growing appetite among cash-rich investors for new ways to invest in some of the world's fastest growing property sectors - that can also be alternatives to property stocks or real estate investment trusts, for example.

　　"Property is one of the hottest games in town and the potential for growth of property derivatives in Hong Kong is huge," says Philip Ljubic, a director of property derivatives at ABN Amro, which completed on the 27th Feb's transaction with Sun Hung Kai Financial.

　　In the Hong Kong transaction, traded as a one-year "price return swap," ABN Amro - the buyer of the derivative - gains exposure to the city's housing market by receiving the annual change in the HKU-HRPI, an index measuring the price of Hong Kong Island residential property. This index is one of the subsets of a series developed by the University of Hong Kong partly for this specific transaction.

　　參考譯文

　　數年前，房地產衍生品還只是存在于理論上。但研究機構Investment Property Databank公布的數據顯示，最近幾個月，房地產衍生品市場已開始迅速發展：在兩年前市場剛剛形成的英國，迄今已達成逾300筆此類交易，價值近 50億英鎊。美國和歐洲大陸也已達成了大量此類交易，銀行業人士預計，此類交易數量將繼續上升。

　　亞洲第一筆掉期交易價值不到1億港元(合1300萬美元)，以全球標準衡量規模較小。然而，此筆交易達成之際，正值現金充裕的投資者對于投資全球一些增長最快的房地產領域的新方式興趣日增之時。例如，這些新方式可以替代房地產股票或房地產投資信托。

　　荷蘭銀行房地產衍生品主管菲利普o柳比奇(Philip Ljubic)表示："房地產是香港最熱門的游戲之一，香港房地產衍生品的增長潛力巨大。"荷蘭銀行與新鴻基金融完成了2月27日的亞洲首筆房地產掉期交易。

　　香港這筆房地產掉期交易屬于一年期"價格回報掉期"。荷蘭銀行--此款衍生品的買家--通過獲得HKU-HRPI年度變動率，得以投資香港住宅市場。 HKU-HRPI是衡量香港住宅房地產價格的指數。該指數是由香港大學(University of Hong Kong)開發的一系列指數的分項指數，一定程度上特為此筆交易而開發。

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