Комплект экзаменационных текстов по экономическому переводу

II семестр

(май 2012)

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China Factory Data Suggest Recovery 'Still in First Gear'

Manufacturing activity in China declined in March for the eighth consecutive month as prices and new orders continued to weaken, according to the China Purchasing Managers Index issued Wednesday.

The data, the first broad economic indicator published for March, likely mean that the world's third-largest economy hasn't yet managed to reverse its sharp downturn in growth. Government statistics for March are due to be issued in coming weeks, but data for the first two months of the year show some encouraging increases in bank lending and investment.

"Although China's proactive monetary and fiscal policies are yielding positive results, the country's economic recovery is still in first gear," said Jing Ulrich, chairman of China equities with J.P. Morgan Chase.

A PMI reading below 50 indicates that manufacturing activity is contracting compared with the previous month. March was the eighth month below that level, but it followed three months when the index had risen, a trend that had raised hopes that the rate of decline in manufacturing was starting to bottom out.

The new-order component of the index dropped to 43.6 in March from 44.2 in February. At the same time, downward pressure on prices from idle capacity appeared to worsen. The output prices index dropped to 41.3 in March from 45.6 in February.

Meanwhile, there were some positive signs in export orders and employment. The new export-order index rose to 41.4 in March from 39.5 in February, the most moderate contraction since October. The employment index also rose to 47.1 in March from 46.6 in February, though it marked the eighth straight month of cuts in the work force of China's manufacturers.

The Wall Street Journal April 2009

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Samsung beats hp to pole position

South Korea’s Samsung Electronics has overtaken Hewlett-Packard as the world’s biggest technology company by sales as it forecast that higher memory chip prices would result in record operating profit in the current quarter.

Samsung, the world’s largest maker of memory chips, reported sales for the 2009 calendar year of Won 136,290 bn ($117/8bn), pushing it ahead of HP of the US, which had sales of $114.6bn for its financial year to the end of October.

Samsung is expected to retain top spot this year with 2010 sales forecast at $127bn, compared with $120bn from HP. Direct comparisons are obscured by the volatility of the won and the two companies’ different reporting periods.

“Overall demand would steadily increase in line with global economic recovery,” Samsung said.

The weaker won last year helped Samsung compete with its Japanese rivals, such as Sony and Sharp, in export markets. However, it may face the reverse this year as the yen gradually gets weaker while the won rebounds.

South Korean companies including Samsung and Hyundai Motor have built up market share effectively during the financial downturn. Samsung used its deep pockets to extend its technological lead over rival chipmakers in Taiwan, while Hyundai took full advantage of disarray in the US car industry to build up its global presence.

Samsung plans to strengthen its smartphone business this year by offering new models based on Google’s Android operating system. It only has a 5 per cent market share in this fast-growing subsector, behind Nokia, which reported earlier this week it had lifted its fourth quarter market share to 40 per cent.

The Financial Times January 2010

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