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 今日主題：China's consumers-- Still kicking  中國的消費大軍--依舊活躍 (中)

 康康精選GRE&GMAT會考的主題，堅持每天精讀一定會進步的哦!!
 MP3音檔 (按右鍵可下載聽)：喜歡的同學，幫忙推或按讚哦~~
http://xia2.kekenet.com/Sound/…/05/ecob051222_5030355GjF.mp3

 只有音檔怎夠，聽不懂地方，不用怕，康康幫你準備好中英文稿了：

 中英文稿：
JD, its main local rival, saw revenues leap by nearly 58%.
京東作為阿里巴巴主要的競爭對手，它的年收入增長也有將近58%。

Chinese are still spending heavily abroad.
中國人依舊有較高的境外支出。

Their international tax-free shopping shot up 58% last year, according to a new report from Global Blue, a big operator of duty-free shops.
據環球藍聯新公佈的一份報告顯示，在2015年，國際免稅購物額激增58%（環球藍聯是一家較大的免稅店運營商）。

Overall, Chinese tourists spent 215 billion on outbound travel last year, a rise of 53% on the previous year.
總體來說，在去年，中國遊客的境外旅遊支出達2150億美元，同比增長53%。

Ctrip, a big online travel firm partly owned by Baidu, a Chinese internet search giant, saw its revenues jump by nearly half last year, to 10.9 billion yuan.
攜程一家線上旅遊公司，其股東之一是百度（中國的搜尋引擎巨頭），其年收入為109億人民幣，同比增加近一半之多。

As with cars, screens and travel, so with consumption generally.
消費跟汽車、螢屏以及旅遊是一樣的。

All retail sales across the economy, adjusted for inflation, rose by 9.6% during the first quarter, compared with the same period a year ago.
與去年同期相比，今年第一季度的零售銷售額增長率為9.6%（排除通貨膨脹因素的影響）。

The services sector, which caters to the growing demands of the middle class, has been rising by 8% a year in real terms since 2012.
服務業滿足中產階級日益增長的需求，從2012年開始，其銷售額就已經增加了8%。

Services made up 57% of economic output in the first quarter; electricity consumption in services rose by some 10%, but was as flat for industry.
在第一季度，服務輸出占經濟總輸出的57%；服務業用電量增長近10%， 但是工業用電量呈現平穩趨勢。

Not every market is as bouncy as it once was.
並非所有市場都能一如既往地充滿活力。

A cooling economy and an official anti-corruption drive have squeezed luxury goods, sales of which fell by 2% year on year in 2015, to 113 billion yuan.
經濟趨冷以及國家反腐行動已對奢侈品造成壓力，其2016年年銷售額為1130億人民幣，同比下降了2%。

But some firms are doing well.
但有些公司表現得不錯。

Remy Cointreau, a premium liquor brand offering tamper-proof bottles on the mainland (near field communications tags tell your smartphone if the booze has been diluted), saw global revenues rise by nearly 10% last quarter and credited improving trends in greater China.
人頭馬君度—一個高檔烈性酒品牌，它向中國大陸提供一種NFC酒瓶（近場通訊技術標識會使得智慧手機得以分辨出該酒是否已被稀釋），其2015年第四季度收入增長近10%，並被譽為大中華地區日益盛行的潮流。

According to Bernard Arnault, the boss of LVMH, a luxury goliath: Analysts underestimate the Chinese economy… the fundamentals are good. Household spending is still increasing.
奢侈品巨頭路易?威登集團的老闆貝爾納?阿爾諾說道：分析員們低估了中國經濟……基本情況是好的。家庭支出仍在增加。

The two Chinas
兩個中國

Can consumption remain resilient given the troubles of the country's state-dominated industrial economy, ranging from vast overcapacity to record levels of debt?
考慮到這個國家國企主導的工業經濟陷於困難之中，具體表現在生產能力過剩和負債達到新高，這個國家的消費還能保持彈性嗎？

One temporary source of comfort is the fact that the state sector may now itself be stabilising, thanks to a massive, debt-fuelled government stimulus.
但比較令人寬慰的是，國有部門現在正穩定下來，這要歸功於政府大規模的債務刺激。

But greater reassurance comes from the fact that even a big shakeout in heavy industry would be unlikely to derail the Chinese consumer.
即使重工業嚴重跌落也不會使中國消費脫軌失控，這才是最大的信心來源。

By one estimate, if 30% of capacity is slashed across China's most bloated state industries, perhaps 3m workers will lose their jobs over the next three years.
根據一項評估，如果中國那些過度膨脹的國有工業30%的生產力被削減，那麼在未來三年裡將會有三百萬的工人失業。

But thanks largely to the private sector, the country created 64m jobs between 2011 and 2015, with more than 13m emerging in the past year alone.
幸好私營企業在2011年至2015年期間為中國創造了六千四百萬的工作崗位，僅去年一年就增加了一千三百萬。