课程名称： 国际商务（英文）                                      课程代码：3274
第一部分     课程性质与自考本科设置目的
一、课程设置与特点
    “国际商务”（英文）课程是高等教育自学考试国际商务英语专业开设的专业课之一，它是一门用英文讲授的商务管理类课程。本课程旨在用英文向学生传授国际商务管理知识，主要包括：国际商务简介（国际贸易和国际投资理论和实践、国际收支帐户、国际货币体系和国际经济合作）；国际商务外部环境（政治环境、文化环境以及竞争和技术环境）；国际商务前期准备工作（跨国公司简介、国际市场调研和开发国际市场策略）；国际商务管理策略（国际市场营销管理策略、财务管理策略、物流管理和人力资源管理策略）。
二、课程设置的目的和要求
设置本课程是为了：（1）让学生初步了解国际商务知识，以便为今后进一步的学习和研究打下基础。（2）巩固和提高学生在基础英语阶段所学到的语言知识和技能，扩大学生在国际商务领域的英文词汇量，培养学生阅读理解有关国际商务材料的能力和用英语表达有关内容的能力。
通过本课程的学习，要求学生掌握关于国际商务的基本词汇和短语、能够用英文解释国际商务术语、读懂有关国际商务文章、并能够对国际商务词汇、短语、术语和句子进行中英互译，从而提高在国际商务领域英文听、说、读、写、译的综合能力。
三、与本专业其它课程的关系
本课程与其它英语课程的培养目标是一致的。各种英语基础课是本课程的先修课，学生应首先通过基础英语的学习，并应具有较好的英语听、说能力、一定的词汇量和语法知识。鉴于本课程只是国际商务知识的粗略、简要介绍，因此它是其它国际商务英语专业课的先修课。
第二部分     考核内容与考核目标
Unit One     Studying International Business—an Introduction
一、学习目的与要求
    熟悉并了解国际商务活动含盖的两个主要领域：国际贸易和国际投资。掌握有关词语和术语。
二、考核知识点
1．国际商务知识
   1) the definition of
A. international business
B. international trade
C. international investment
   2) international business activities
A. exporting
B. importing
C. merchandise export and import (visible trade)
D. service export and import (invisible trade)
E. foreign direct investments (FDI)
F. joint ventures
G. portfolio investments
H. licensing
I. franchising
J. management contracts
2. 生词与短语
tangible, property, assets, host country, stake, stock, bonds, certificates of deposit,              return, intellectual property, patents, trademarks, copyrights, logos, resources, know-how, merchandise, insurance, portfolio
3. 国际商务术语
international business, international trade, international investment, exporting,       importing, merchandise export and import (visible trade), service export and import (visible trade), foreign direct investment, joint venture, portfolio investment, licensing, royalty payment, franchising, franchiser, franchisee, management contract

Unit 2     International Trade Issues
一、学习目的和要求
熟悉并了解主要国际贸易理论：重商主义、绝对有利条件和相对有利条件，尤其是相对有利条件。掌握有关词语和术语。
二、考核知识点
1．国际商务知识
1) three theories for international trade
 A. mercantilism
 B. absolute advantage
 C. comparative advantage
2) trade barriers
      tariff barriers:
   A. import tariff
   B. export tariff
      non-tariff barriers:
   A. import quotas
   B. subsidies
   C. voluntary export restraints
   D. buy national policies and programs
   E. standards
3) counter trade
   A. barter
   B. counter-purchase
   C. buyback
    D. compensation trade
2. 生词与短语
take for granted, assumption, specialize in, make sense, infant industries, retaliatory, countervailing, impose, regardless, appeal to reciprocal, plant and equipment, tariff, tax
3.  国际商务术语
mercantilism, absolute advantage, comparative advantage, barriers to trade (trade barriers), tariff barriers, import tariffs, countervailing tariff or duty, export tariffs, non-tariff barriers, subsidies, import quotas, voluntary export restraints, buy national policies and programs, standards, counter trade, barter, counter purchase, buyback compensation trade

Unit 3     International Investment Flows
一、学习目的和要求
了解并掌握不同形式的对外投资；熟悉国际投资理论和影响国际直接投资的诸多因素。掌握有关词语和术语。
二、考核知识点和考核目的
1． 国际商务知识
1) Types of international investments
A. portfolio investments
B. foreign direct investment (FDI)
C. joint ventures
2) International investment theories
A. factors of production
  B. international product life cycle
3) Factors influencing foreign direct investment
  A. supply factors
  B. demand factors
  C. political factors
2. 生词与短语
securities, financial assets, entail, diversify, in brief, faculty, pioneering, allocate, motivate, real estate, lobby, incentive, jurisdiction, utility rate, transportation, customer, natural resources, acquisition, capital , infrastructure
3.  国际商务术语
commercial paper, time deposits, certificates of deposit, trade receivables, factors of production, product life cycle economies of scale, logistics, voluntary export restraint, tax reduction, tax holidays, bidding

Unit 4     International Cooperation among Nations (I)
一、学习目的和要求
熟悉并了解世界经济组织及其职能；了解国际经济区域化发展趋势；掌握有关词语和术语。
二、考核知识点
1. 国际商务知识
1) GATT
2) WTO
A. functions of WTO
B. objective of WTO
3) Levels of integration
   A. free trade area
   B. customs union
   C. common market
   D. economic union
   E. political union
4) The European Union
   A. the history of EU
   B. the creation of EU
   C. the governing bodies of EU
2. 生词与短语
under the auspices of, destined, referee, optimal, vis-à-vis, harmonize, surrender, controversial, convert, executive, judicial, mandate, guardian, budgetary, regulation, operate, negotiation, liberalize, bargain, integration, eliminate
3. 国际商务术语
exchange rate, GATT, WTO, free trade area, customs union, common market,                             economic union, political union, Treaty of Rome, Maastricht Treaty, Uruguay Round, multilateral trade, regional trading bloc, monetary policy, full employment, macro-economic situation, sustained economic growth, common external tariff, economic and monetary union, the Council of the European Union, the European Commission

Unit 5     International Cooperation among Nations (II)
一、学习目的和要求
熟悉并了解其它区域贸易集团和主要商品协议。
二、考核知识点
1、国际商务知识
1) other regional trading blocs
   The North American Free Trade Agreement (NAFTA)
   APEC
The Caribbean Basin Initiative (CBI)
The Mercosur Accord
Andean Pact
Association of South East Asian Nations
Southern African Development Coordination Conference (SADCC)
Economic Community of West African States (ECOWAS)
Economic Community of Central African States (CEEAC)
2) International commodity arrangements
    Organization of Petroleum Exporting Countries
    The Multifibre Arrangement
2、生词与短语
Pacific Rim, advocate, provide for, reinvigorate, slash, apparel, exemption, settlement, referee, taxation, fluctuation, capacity, accord, pact, administration
3、国际商务术语
NAFTA, FPEC, The Caribbean Basin Initiative, The Mercosur Accord, Andean Pact, Association of South East Asian Nations, Southern African Development Coordination Conference, Economic Community of West African States, Economic Community of Central African States, cartel OPEC, The Multifibre Arrangement

Unit 6     Balance of Payments Accounts and the International Monetary System
一、学习目的和要求
熟悉并了解国际收支帐户及其主要项目；熟悉并了解国际货币体系的发展以及国际货币基金组织和世界银行。掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Balance of  payments accounts
the current account
the capital account
the official reserves account
errors and omission
2) The international monetary system
   fixed exchange rate
   the gold standard
   floating exchange rate system
   clean float
   dirty float /managed system
3) The IFM and the World Bank
2、生词与短语
bookkeeping, dividends, repatriate, subsidiaries, unilateral, donor, scrutinize, intervene,, convert, denomination, in circulation, fluctuate, disequilibrium, dislocation, entitlement, redress, visible, purchase, merchandise, deposit
3、国际商务术语
    balance of payments, current account, capital account, official reserves account, trade surplus, trade deficit, international monetary system, fixed   exchange rate, gold exchange standard, floating exchange rate system, clean float, dirty float, managed system, market forces, central bank, SDR

Unit 7     The Cultural Environment of International Business
一、学习目的和要求
掌握并了解文化的含义以及文化所含盖的主要方面。掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Definition of culture
2) Main elements of culture
A. language
B. nonverbal language
C. religion
D. manners and customs
E. aesthetics
F. education
G. social institutions
H. social systems
2、生词与短语
aesthetic, innate, stimulus, multidimensional, connotation, condense, identification, mourning, recruit, subordinate, explicitly, implicitly, courting, ritual, kinship, environment, label, executive, prayer, available, trainee, orientation 

Unit 8     The Political Environment of International Business
一、学习目的和要求
掌握并了解政治风险的含义及其种类；熟悉防范政治风险的措施；掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Definition of political risk
2) Kinds of political risk
acts of violence
government takeovers of the properties
confiscation
expropriation
3) Countermeasures against political risk
   joint ventures
   linkages (backward linkages, forward linkages)
   prearranged disinvestment or domestication
   home government support
2、生词与短语
adversely, consistency, outright, seizure, encroachment, reimbursement, eroding, discretion, assessment, contemplate, mitigate, offset, forestall, vested interest,  relinquish, recoup, dispute, reprisal, sustain, specialize in, takeover, facilities, violence, component
3、国际商务术语
acts of violence, government takeovers of the properties, confiscation, expropriation, prearranged disinvestment or domestication, backward linkages, forward linkages, political risk

Unit 9     The Competitive and Technological Environment (I)
一、学习目的和要求
熟悉并了解竞争环境的概念；了解竞争的来源以及国际市场竞争的特性；了解竞争在产品生命周期不同阶段的特征。掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) The concept of competitive environment
2) Sources of competition
Organizations in both the public and private sectors often compete internationally.
Organizations of differing sizes may compete internationally.
In any foreign market, the competition may be both domestic and international.
Organizations from both the developed and developing nations may compete in any foreign market.
Established companies may find that unexpected new entrants appear internationally.
3) Factors which can affect the nature of competition
   government regulations
   economic conditions
   availability of resources
   cultural practices
4) Degree of competitiveness at the stages of product life cycle
   and the competitive approach
2、生词与短语
domain, entrant, convention, frown upon, revolve around, vie for, refinement, at the expense of , innovation, packaging, merger, distribution, keen, loyalty, expenditure, differentiation, evaluate
3、国际商务术语
   competitive environment, public sector, private sector, preferential treatment, market share, product life cycle, vertical integration, competitive pricing, infant product, potential customer, growth market

Unit 10     The Competitive and Technological Environment (II)
一、学习目的和要求
    熟悉并了解各种竞争策略；知晓技术环境的含义；了解技术革新策略和技术转让策略；了解技术革新是企业在国际市场具有竞争性的关键所在。掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Competitive strategy
Competitive advantage grows out of improvement, innovation, and change.
Competitive advantage involves the entire value system.
Competitive advantage is sustained through relentless improvement.
Sustaining advantage demands that its sources be upgraded.
Sustaining advantage requires a global approach to strategy.
2) Technology covers:
 product technology
   process technology
   management technology
3) Competitive advantage and technology
   developing a competitive technological advantage
   protecting the competitive technological advantage
   using the technological advantage
2、生词与短语
by chance, an array of, established wisdom, vulnerable, sustainability, replicate, duplicate, foster, conscious, pros and cons, acquire, proprietary, sequence, innovation, challenge, dominant, perspective, overtake, modification, upgrade, know-how
3、国际商务术语
competitive strategy, value system, innovative strategy, product technology, process technology, management technology

Unit 11     Multinational Corporations
一、学习目的和要求
熟悉并掌握跨国公司的定义；了解最新的全球50强及其排序。掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Definition of multinational companies by the UN
2) The latest largest global corporations
2、生词与短语
entity, abound for, supranational, quantitatively, qualitatively, ethnocentric, polycentric, holding company

Unit 12     International Business Research
一、学习目的和要求
熟悉并了解从事出口业务和进口业务的国际市场调研；了解搜集第二手资料的不同信息来源；了解搜集第一手资料的不同方式。掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Foreign market opportunity analysis
2) Evaluation of foreign firms
3) Varying sources of secondary data
4) Different methods of conducting primary research
2、生词与短语
mortality rate, highlight, attaché, substructure, directory, newsletter, homogeneity, objectivity, bias, slant, perceptions, attitudinal, shed light on, feasibility, experimentation, causal, accounting, association, evaluate, regulation, consulate, freight forwarder, stimulate
3、国际商务术语
research objective, sources of data, statistical yearbook, trade associations, directories, electronic information services, secondary data, primary research, research technique, objective data, subjective data, per capita GNP, macro information, micro information

Unit 13     International Business Entry and Development
一、学习目的和要求
熟悉并了解从事国际商务的不同动机；了解开发国际市场策略以及不同的经营形式；掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Motivations to go abroad
proactive motivations
reactive motivations
2) Entry and development strategies
  importing and exporting
  international intermediaries
  —export management companies
—trading companies
2、生词与短语
motivation, proactive, reactive,  profitability, insight, exclusivity, blaze, trail, retain, head over heels, withdrawal, outlet, inventory, capacity, utilize, saturated, proximity, unwitting, perceive, forge, hurdle, expertise, take title to, tempt, client, reap, disseminate, mechanism, route, palatable, feasible
3、国际商务术语
profit margins, competitive edge, international patent protection, preferential tax treatment, intermediary, commission representatives, distributors, trading company, transportation rates, distribution systems, export management companies, reactive motivation, proactive motivation, business cycle, direct involvement, indirect involvement

Unit 14     International Marketing Management (I)
一、学习目的和要求
熟悉并了解营销的含义以及国际市场营销策略；掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Definition of marketing
2) The marketing mix
product policy
pricing policy
distribution issues and decisions
—international distribution
—channels of distribution
2、生词与短语
orientation, internal environment, external environment, tangible, image, warranties, bulk, customize, preferences, impose, incentives, adaptation, ingredients, palate, disposal, recycling, attribute, opt for, spillover, consistent with, perennial, dilemma, take into account, comptroller, at an arm’s length, cope with, complexities, peculiarities, alleviate, manipulate, pipeline, barge, perishable, voyage, humidity, infiltration, option, toiletries, grocery stores, challenge, optimal, freight
3、际商务术语
marketing, customer value, marketing mix, product policy, credit terms, standardized products, customized products, consumer products, brand names,  revenue, pricing policy, export pricing, dual pricing, market-differentiated pricing, marginal cost, dumping, quotation, price escalation, INCOTERMS, customer behavior, market structure, environmental constraints, uniform pricing, price differentiation, transfer pricing, intracompany pricing, intracorporate sales, end market, import duties, inflationary tendencies, merchandise, modes of transportation, point of origin,  air freight,  carrier, ocean shipping, in transit, order cycle time, channels of distribution, manufacturer, retailer, wholesaler, import agents

Unit 15     International Marketing Management (II)
一、学习目的和要求
熟悉并掌握国际市场营销策略中的促销策略；掌握有关词语和术语。
二、考核知识点和考核目的
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        1、国际商务知识
1) Promotion issues and decisions
advertising
—message
—medium
—global advertising/personal advertising
personal selling
sales promotion
public relations
2、生词与短语
encompass, blend, convey, media, message, globalize, linguistic, them, recreational, means of transportation, cachet, trendy, alter, literacy rate, bilingual, multilingual, eliminate, prompt, outlaw, sponsor, athletic, affiliate, tailor, campaign, TV commercials, in succession, aspect, maintenance, intricacy, norm, associate, compensate, personnel, participate, emblazoned, distrust, pitch, negotiate, encounter, breach, jeopardize, stature, bail, outlet
3、国际商务术语
promotion, personal selling, sales promotion, public relations, global advertising, local advertising, subcontract, sales force, coupons, sampling, direct mail, cooperative advertising, trade fair, negotiate, operating license, trade sanctions stakeholder, medium

Unit 16     Multinational Financial Management (I)
一、学习目的和要求
熟悉并了解国际贸易结算应使用的货币；知晓如何调查客户的资信状况；了解主要的国际贸易支付方式；掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) The currency used for the transaction
2) Credit checking
3) method of payment
—payment in advance
—open account
—documentary collection
—letters of credit
2、生词与短语
transaction, currency, check credit, volatile, stable, reliability, trustworthiness, credit rating, correspondent bank, assessment, sophistication, vulnerable, stipulate, hamper, pursuit, claim, impeccable, default, draw up, instrument, solidity, pretext, unenviable, remedy, pledge, reimburse, collateral, document,
3、国际商务术语
reach agreement, delivery date, check credit, method of payment, payment in advance, open account, documentary collection, draft, bill of exchange, shipping documents, packing list, bill of lading, title to the goods, honor, sight draft, time draft, letters of credit, invoice, Insurance Policy, Export Licenses, Certificate of Product Origin, Inspection Certificate, irrevocable L/C, confirmed, irrevocable L/C, transferable and divisible L/C, L/C without recourse, revolving L/C, Sales Contract

Unit 17     Multinational Financial Management (II)
一、学习目的和要求
熟悉并了解跨国公司从事国际商务可能遇到的外汇风险以及外汇风险管理策略；掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Foreign exchange exposures
—transaction exposure
—translation exposure
—economic exposure
2) Options for responding to transaction exposure
   —go naked
   —buy another foreign currency forward
   —buy another foreign currency in the currency options market
   —acquire an offsetting asset
2、生词与短语
denominate, exposed to, fluctuation, appreciation, obligation, neutralize, assets and liabilities, integrate into, consolidate, with regard to, erode, proceeds, depreciation, expire
3、国际商务术语
foreign exchange, transaction exposure, translation exposure, economic exposure, go naked, buy forward, currency options market, options contract, forward contract, futures contract, hedge, proceeds

Unit 18     International Logistics Management (I)
一、学习目的和要求
熟悉并掌握物流的含义及其范围；了解国际商务经营中的运输问题；掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Definition and scope of international logistics
2) International transportation issues
—transportation infrastructure
—availability of modes (ocean shipping, air shipping)
—the factors that determine the choice of modes
  transit time, cost of transportation, noneconomic factors
2、生词与短语
phase, component, infrastructure, inbound, outbound, land bridges, sea bridges, perishable, appropriate, depot, replenish, lifespan, density, amenable, vessel, bulky
3、国际商务术语
logistics, landed cost, order, liner, tramp, charter service, cargo vessels, container ships roll-on-roll-off vessels. Containers loading , unloading, shipper, carriers, subsidize, transit time

Unit 19     International Logistics Management (II)
一、学习目的和要求
熟悉并了解国际商务中的库存问题、包装问题和货物的存储问题；掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) International inventory issues 
factors which determine the level of inventory
—order cycle time
—customer service levels
inventory as a strategic tool
2) International packaging issues
3) International storage issues
   storage facilities
   foreign trade zones
2、生词与短语
available, variable, bridge the time gap, denote, inflation, devaluation, subject to, employment, spearhead, reassemble, storage
3、国际商务术语
just-in-time inventory policy, order cycle time, placement of an order, gross weight, double packaging, display package, foreign trade zone,

Unit 20     International Human Resource Management
一、学习目的和要求
了解什么是人力资源管理；了解如何招募和管理中层管理人员；了解选择派往国外公司管理人员的标准；了解如何招募、筛选、培训和管理员工；掌握有关词语和术语。
二、考核知识点
1、国际商务知识
1) Definition of human resource management
2) How to manage managers
early stages of internationalization
advanced stages of internationalization
sources for management recruitment
3) Selection criteria for overseas assignments
   competence factors
   adaptability factors
   personnel characteristics
   compensation
4) Managing labour personnel
   recruitment and selection
   training and development
   compensation and performance appraisal
2、生词与短语
dramatically, corporate culture, interact, supervision, troubleshooter, candidate, expatriate, nationals, locals, foster, infusion, impediment, career, empathy, assignment, inherent, appraisal, wage, fire, nucleus,
3、国际商务术语
work force, human resource, documentation, freight forwarder, CEO, managing directors, competence factors, adaptability factors, allowances, premium, productivity
第三部分     有关说明与实施要求
一、考核目标的能力层次表述
本大纲在考核目标中，按照“识记”、“理解”、“应用”三个能力层次规定其应达到的能力层次要求。各能力层次为递进等级关系，后者必须建立在前者的基础上，其含义是：
识记：能知道有关的名词、概念、知识的含义，并能正确认识和表述，是低层次的要求。
理解：在识记的基础上，能进行英文句子和段落的中文翻译及完型填空，是较高层次的要求。
应用：在理解的基础上，能进行中文句子和段落的英文翻译，是最高层次的要求。

二、指定教材
《国际商务英文读本》 师英编著    南开大学出版社     2002年版

三、自学方法指导
1、在开始阅读指定教材某一章之前，先翻阅大纲中有关这一章的考核知识点及对知识点的能力层次要求和考核目标，以便在阅读教材时做到心中有数，有的放矢。
2、阅读教材时，要逐段细读，逐句推敲，集中精力，吃透每一个知识点。阅读中遇到的每一个生词都要查阅词典，知晓意思，对重点生词要求熟记，力求彻底弄清、读懂教材，在头脑中形成完整的内容体系。
3、认真完成书后作业和教师提供的补充练习，消化和巩固所学知识，培养分析问题和解决问题的能力，逐步提高英文的听、说、读、写、译能力。

四、对社会助学的要求
1、应熟知考试大纲对课程提出的总要求和各章的知识点。
2、应掌握各知识点要求达到的能力层次，并深刻理解对各知识点的考核目标。
3、辅导应以大纲为依据，指定教材为基础，不要随意增删内容，以免与大纲脱节。
4、辅导时，应对学习方法进行指导，宜提倡“认真阅读教材，刻苦钻研教材，主动争取帮助，依靠自己学通”的方法。
5、辅导时，要注意突出重点，对学生提出的问题，不要有问即答，要积极启发引导。
6、注意对学生自学能力的培养，要引导学生逐步学会独立学习，在自学过程中善于提出问题，分析问题，作出判断，解决问题。
7、要使学生了解试题的难易与能力层次高低两者不完全是一回事，在各个能力层次中会存在着不同难度的试题。
8、助学学时：本课程共4学分，建议总课时72学时，其中助学课时分配如下：
章次 课程内容 助学学时
Unit 1 Studying International Business—an Introduction 3
Unit 2 International Trade Issues 4
Unit 3 International Investment Flows 3
Unit 4 International Cooperation among Nations ( I ) 3
Unit 5 International Cooperation among Nations ( II ) 4
Unit 6 Balance of Payments Accounts and the International Monetary System 4
Unit 7 The Cultural Environment of International Business 4
Unit 8 The Political Environment of International Business 4
Unit 9 The Competitive and Technological Environment ( I ) 4
Unit 10 The Competitive and Technological Environment ( II ) 4
Unit 11 Multinational Corporations 3
Unit 12 International Business Research 3
Unit 13 International Business Entry and Development 3
Unit 14 International Marketing Management ( I ) 4
Unit 15 International Marketing Management ( II ) 4
Unit 16 Multinational Financial Management ( I ) 4
Unit 17 Multinational Financial Management ( II ) 4
Unit 18 International Logistics Management ( I ) 4
Unit 19 International Logistics Management ( II ) 4
Unit 20 International Human Resource Management 4
 总计 72

五、关于命题考试的若干规定
1、本大纲各章提到的内容和考核目标都是考试内容。试题含盖到章，适当突出重点。
2、试卷中对不同能力层次的试题比例大致是：“识记”为10%、“理解”为30%、“应用”为60%。
3、试题难易程度应合理：易、较易、较难、难比例为2：3：3：2。
4、每份试卷中，各类考核点所占比例约为：重点占65%，次重点占25%，一般占10%。
5、本课程采用的基本题型包括连线排序英文单词、词组/短语英译中、专业词组英文解释、段落英译中、完型填空、句子/段落中译英。
6、考试采用闭卷考试，考试时间150分钟，采用百分制，60分为及格。

六、题型示例 （样题）
1. Match the words and expressions on the left with the explanations on the right.
(1) acquisition     a) an individual or organization that makes a purchase
(2) Customer        b) the act of acquiring
2. Put the terms/phrases into Chinese.
Portfolio investment
3. Explain the terms in English.
Product life cycle
4. Put the passages into Chinese.
A stock Market in China
China’s first stock market opened in Shanghai in September of 1986, trading both shares and bonds of about 1500 issuers. The $60.4 million capitalization of the market was small by international standards. Many of the share issues were restricted in that they could be purchased only by employees, a restriction designed to link employee rewards with company performance. The remaining shares were quickly purchased by the public.
Although the concept of a stock exchange in a communist country raises a number of difficult questions, the resulting competition for funds was expected to raise efficiency and productivity. There was no direct foreign involvement in the new market. However, Chinese firms used the capital raised to form joint ventures with foreign companies in Hong Kong and the Philippines.
5. Fill in each of the blanks with a suitable word.
In its early years, the Reagan administration pushed up the v__________ of the dollar to the point where American export became noncompetitive on the world market. US. Manufacturers decided, in the great majority, to try to m__________ profit margins rather than market standing. They i__________ their foreign prices to yield the same dollar income. As a result, within two years, they lost sales, market standing and p__________. A few years later, when the Reagan administration decided to push down the value of the dollar so as to make it d__________ for the Japanese to flood the American market, the Japanese decided to sacrifice profit m__________ to maintain their market standing. As a result, Japanese s__________ in the United States did not go down. They continued to go up and within 18 months the Japanese had recouped their profit margins, and were, in fact, making larger yen profits in the United States than they had m__________ before when the dollar-yen exchange r__________ was much more favorable to them. And the Germans, who followed the Japanese example in the U.S. market, h__________ obtained the same results.
6. Translate the sentences in English.
二手资料的获得即快又便宜，它是其它机构已经获得的信息。