Translate the article into Russian orally. China services sector key to growth
China services sector key to growth
Banking, tutoring and healthcare are the holy grail both for China’s policymakers and its international investors. As Beijing looks to services to rev up slowing economic growth, private equity and others are buying into hospitals, English schools and consumer lenders.
Property sales and factory construction are slowing but people in China are eagerly availing themselves of healthcare, tutoring and movie tickets. Beijing’s slow-burning bid to rebalance the economy towards consumption has received a boost from services, which account for 51% of GDP, up from 44% in 2011.
The economy is on track for its weakest full-year growth in a quarter of a century. Without rapid expansion in financial services, education and healthcare, among other services, the overall slowdown would have been much worse.
While financial services moderated in the third quarter, overall services growth accelerated from 8.3% in the first half to 8.6% in the third quarter, well above the 6.9% growth of the broader economy.
The fastest growth came from “other” services, a broad category that includes healthcare, education, entertainment and culture, science and research, business services and utilities — fully 20% of the economy.
Foreign investors are betting the services growth story is real. Domestic companies are also positioning themselves to target the service sector.
Dalian Wanda Group, parent of China’s largest commercial property developer, is branching out into theme parks, online retail and financial services.
Services are also key to Beijing’s goal of reducing reliance on debt-fueled investment and generating more growth from consumption. Li-Gang Liu, China economist at Australia and New Zealand Bank, estimates that services account for about 30% of China’s consumer price index, which aims to reflect the typical consumer’s spending patterns.
The Financial Times, December 6th, 2015
NOTES
1. the Holy Grail –1)the bowlbelieved to have been used by JesusChrist at the Last Supper 2) any desired ambition or goal, something that is extremelydifficult to find or get – СвященныйГрааль, обозначениекакой-либозаветнойцели, частонедостижимойилитруднодостижимой
2. to be on track -making progress and likely to succeed – произойтисвысокойстепеньювероятности
USEFUL TERMS AND EXPRESSIONS
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· torevup –увеличивать, наращивать (обороты,, темпы)
· privateequity –сектор прямого частного инвестирования
· toavailoneselfof –использовать, воспользоваться
· a bid –стремление, попытка
· torebalance –восстанавливать равновесие, изменять соотношение сил
· to accelerate –ускорять, форсировать
· tobet – быть уверенным, делать ставку
· tobranchout – начать новое дело, распространяться, разветвлять
· themepark – парк отдыха и развлечений
· debt-fueledinvestment –инвестиции с использованием заемных средств
TEXT 6
Translate the article into Russian orally.
U.S. Shale Producers Face Reality, Cut Output
Some of America’s biggest shale producers are beginning to ratchet back oil and gas production for the first time in years, bending to the reality that a global glut will keep prices depressed.
The production cuts, announced as shale companies reported dismal earnings in recent days, stand in stark contrast to the past year, when many U.S. drillers kept the taps turned on even as oil prices plunged from nearly $100 a barrel to about $30. American oil satisfies 10% of the world’s daily needs, putting U.S. production on par with output from Russia and Saudi Arabia.
The Organization of the Petroleum Exporting Countries continues to pump at full tilt, further pressuring higher-cost operators such as U.S. shale producers. Last week, Saudi Arabia oil minister Ali al-Naimi bluntly told energy executives in Houston that the supply problem will only be resolved when low prices force companies to stop producing the oil that is most expensive to extract and sell.
Soafter years of boosting oil and gas flows across Oklahoma, Texas and North Dakota,Continental Resources Inc.,Devon EnergyCorp.andMarathon OilCorp.say they plan to pull roughly 10% less from the ground in 2016 than they did last year
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One hurdle to throttling back production in the U.S. is that shale drillers have become more efficient, tapping wells faster, for less money, and coaxing more fuel out of each one. But other companies have been forced to keep pumping just to bring in cash so they could make interest payments on their heavy debt loads.
One way companies are trying to puta lid on production this year is by waiting to pump wells they have already drilled. That trend is creating a large inventory of oil and gas wells that will be ready to turn on when crude prices finally do rebound.
IHS, the consulting firm, is forecasting that U.S. oil outputcould fall from more than 9 million barrels a day to as little as 8.3 million barrels a day by this summer.
If that drop does materialize, it could boost crude prices back to the $40-a-barrel range, according to IHS.
One risk, though, is that as prices move higher, some producers may be tempted to turn on the spigot once again, a move that could in turn drive prices back down. If that happens, prices could collapse even below current levels, said Jamie Webster, senior director of oil markets for IHS.
The Wall Street Journal, February 29th, 2016
NOTES
ifthatdropdoesmaterialize; whencrudepricesfinallydorebound -глагол do служит для выделения сказуемого и передается словами: «действительно», «же», «все же», «ведь» и др.
USEFUL TERMS AND EXPRESSIONS
· shaleproducer –компания, занимающаяся добычей сланцевого газа/нефти
· to ratchet back –сдерживать, притормаживать
· tobendto –смиряться, покоряться, подчиняться
· dismal –удручающий, бедственный, катастрофический
· onpar– наравне, на одном уровне, сопоставимо
· topump –качать, добывать (нефть)
· atfulltilt –полным ходом, изо всех сил
· driller –буровая компания
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· hurdle –препятствие, проблема, трудность
· tothrottleback – уменьшать обороты, сбрасывать газ, притормаживать
· a well –скважина
· totap – вскрывать (пласт, залежь, месторождение)
· to coax –выкачивать, вытягивать
· interest payment –процентный платеж
· toputalidonsth – приостановить, положить конец
· to turn on a spigot –открытькран
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