融资租赁中英文对照外文翻译文献.docx

融资租赁中英文对照外文翻译文献.docx

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融资租赁中英文对照外文翻译文献

中英文资料外文翻译

附录1：

（原文）

TheDeterminantsoftheLeasingofSmallCompanies

1,internationalforsmallandmedium-sizedcompanieswerediscussed

Atthebeginningofthe20thcentury,appearwithfordmotorasarepresentativeofthemassproductionmethods,peoplebelievedintheenterpriseoflarge-scalebusinessisthetrendofTheTimes.Butlastofthetwentiethcenturyagoineconomicsleadingviewalsothinkbigenterpriseisefficient,thescalebecomethepronounofefficiency,enterprise'seconomicdevelopmentoflarge-scalebecomedirection.Yetthecenturyinthe1970s,akindoftraditionalideasbeganchallenged.In1973,theBritishscholarschumacher（E.F.Schumacher）publishedasmallisagoodbook.Quicklyandhascausedagreatecho.Theauthorthinksthatthewesterncountriesspecialization,large-scaleproductionpatternlooksissolved"productionproblem",butactuallyisanillusion.Thismodeofproductioncausedeconomicinefficiency,environmentalpollution,resourceexhaustion,andfosteredmanysocialproblems.Therefore,mustchooseagainadevelopmentpatternorway.Schumacherpointedoutthedevelopmentoflarge-scaleandautomationerror,advocatedthedevelopmentofsmallandmedium-sizedintermediatetechnology.Hethinks.Tomakethesociety"enduring"development,mustgominiaturization,amongthedevelopmentofroads,especiallytothedevelopmentofsmallandmedium-sizedenterprisesand"intermediatetechnology".BritishprimeministerTonyBlairalsoputforwardby2005tothedevelopmentofsmallbusinessesofBritishconstructionbecomeheaven".

2,smallandmedium-sizedenterprisesinChina'seconomycontribution

Smallandmedium-sizedenterprisesisanimportantmeansoftechnicalinnovation.Beforeworldwarii,thecenturywithdifferentsincethe1960sand1970sgraduallyarisenoninformationtechnologyandbiotechnologyasthecoreofthenewtechnologyrevolutionismainlyinsmallandmedium-sizedenterprises,andatleastinlotsofsmallandmedium-sizedenterprisestodydevelops.Inthemiddleofthecenturyago,richeconomiesintheproportionofsmallandmedium-sizedenterpriseshasbeendecliningtrend;Inthemiddleofthecenturyespeciallyafterthe1960sand1970s,andsmallandmedium-sizedenterprisesandstartedmassdevelopment（seeStorey,D.J.,1994）.Thissuggeststhatsmallandmedium-sizedenterpriseistoadapttothisnewtrendoftechnologicalprogress.Accordingtostatistics,sofar,smallandmedium-sizedenterprisesinChinahasmorethan800thousand,accountsfortheenterprise99%ofall.Insince1960sofrapideconomicgrowth,industrialoutputvalueofnew76%aboveiscreatedbysmallandmedium-sizedenterprises.Smallandmedium-sizedenterpriseoutputandrealizeprofitstaxhaveaccountedfor60%ofthenationalrespectivelyand407.,inrecentyearsinthetotalexport,smallandmedium-sizedenterprisesaccountedforabout60percent."nodoubt,smallandmedium-sizedenterpriseshasbecomethenewgrowthpointofboostingthenationaleconomy,promotingChina'seconomicboomisthemaindrivingforceofuplink.Aboutsmesinthecountry'seconomy,theimportanceofroughlyboilsdownto:

First,provideemploymentopportunity,absorbingsurpluslaborforce.Comparedwithlargeenterprisesandsmallandmediumsizedenterprisesareusingmorelabor-intensivetechnology,sothedevelopmentofsmallandmedium-sizedenterprisescanhelpalleviatecurrentemploymentpressure.Infact,althoughsmallandmedium-sizedenterpriserolefarmorethanthat,butitissmallandmedium-sizedenterprisesofthisfeature,tomediumandsmall-sizedenterprisesforpeopleincreasinglyattention.Ourcountrytheindustryandcommerceregistrationofsmallandmedium-sizedenterprises,morethan1,500million,accountsforthetotalenterprisesninety-ninepercent,tobetownprovidesseventy-fivepercentofthejobs.

Second,createthemainstayofGDP.Accordingtotheaboveinformation:

smallandmedium-sizedenterprisesinthenationalindustrialoutputaccountforabout60,realizeprofitstaxofupto40%.Table3-1forourindependentaccountingindustrialenterprisesin1995-2000somedata,includingvarioustypesofenterpriseofgrossindustrialoutputandtheproportionoftotalassets,valueaddedofindustryandtheproportionoftotalassetsandprofittaxamounttototalassetsratio（namelyfundLiShuiLv）.Wecanfindthat,regardlessofintheoutputvalueontheproportionsstillinproportionofsmallandmedium-sizedenterprisesaresuperiortolargeenterprises.Thisshowsthateveryunitfundofsmallandmedium-sizedenterprisesthanlargeenterprisecreatesmoresocialwealth.But,inadditionto2000,smallandmedium-sizedenterprisesoutsidethecapitalLiShuiLvbelowlargeenterprises.So,inproportionwithcapitalvalueLiShuiLvappearsbetweensomecontradictions.Becausethelatterreflectstheformerdistributionrelationship,thisisbecauseofhardtogetthebanklow-interestloanstosmallandmedium-sizedenterprisestousecapitalinterestofproportionofthoseenterprises.

Leasefinancingbackgroundissocializedproductiondevelopedmarketeconomydevelopmenttoahigherlevel,industrialproducts,developedcountriesanditsrelativesurplusofindustrialcapitalseekanddevelopnewmarket,thereforeintheinvestigationofitsfunctionandadvantages,cannotbeseparatedfromthehistoricalbackground.Onlyunderstandthishistoricalbackground,cananswerfinancingleasewhyproducedinthe1950sandtoworldwidedevelopment,ratherthancreatinganddevelopinginothertimeperiods.Financingleaseimprovedsocialreproductionpace,accelerationofcapitalgoodscirculationandconsumption,driveinvestmentdemandandthefellowshipdemandexpanded.Eventuallyhaveapromotionaggregatedemandgrowth,andthustopromotefullemploymentandeconomicdevelopment.

3.Moveinvestmentdemand

Britishleaseexperts,thebottwhospeciallyintheworldontheleaseyearbookofliterarytheoryandtheeffect.Hesaid:

"infact,somegovernmentsareshiftinginfull-scaleleasetostimulatedomesticinvestment.Theymovedtoincreaseemploymentdesirefroman"'.HeininvestigatingtheGermanandBritishexamples.Conclusion:

leaseindustryinensuringtheroleofmaindomesticinvestmentwasprofound.Governmentsalsoencourageleasingcompanyforcapitalequipmentfinancetoexpandexports,inordertoimprovetheirproducersintheinternationalmarketcompetitioninposition.Leasefinancingareabletoexpanddomesticdemand,increaseemploymentinplaysauniquerole,reasonmainlyhastwosides,thefirst,thefinancingleaseoftheequipmentsuppliedwhateverislocatedwhererequiressomepersonnel,thisundoubtedlywillincreaseemployment;Second,governmentsforleaseprovidespreferentialtaxreducedleasingcompaniesandenterprise'sfinancingcost,thusmakemanyenterpriseswanttouseleaseformtocarryonaninvestment,investmentincreaseisapparent.

4ourexperience

Ourcountryeconomyinthe1990s,hasmaintainedastronggrowthmomentum.Duringthisdecade,thereareeightyearsistheClintonadministrationoffice.China'sPresidenteconomiccommissionchairmanis2001NobelPrizewinnerJoseph.SiDiGeLiCiashedied,butalsobytheNobelPrizewinner,lemon,theauthorofthearticleGeorgegramroveladyjanet"Aaron,whicharebothasanewKeynesianrepresentativefigures,theyadvocateinformationasymmetrytheorythatcompletelyonmarketeconomicregulationisnotsolveallproblems.Asafreeeconomydoesnotguaranteeduringthetradeinformationsymmetry,causingsomeareasofadverseselection（viciouscircle）andmoralhazard（creditcrisis）,thisshowsthatourcountrywasinclinedtoconditionallygovernmentinterventionandcontrolthemarket.Ourcountrygovernmenttousetaxandinterestrateleveragetoregulatethemarket,withinvestmentpolicycausedinvestmentdirection.Theseagainandleasehaveinternalrelations.Ourso-calledtuyuhunequipmentleasingthefinancingleaseofbythefinancinginvolvingrates,strongcityinthepolicyhasledto$risinginterestratestoleasebringtheopportunityofthedevelopment.Ourtaxonrentalindustryhascertainpreferential,whilerentalindustryismorerelyingontalentadvantageandcontroltheownershipoftheleaseobjectslegalstatus,makefulluseofourcountrytoencourageinvestmentpreferentialpolicies,anddesignedthesystem"lease",suchas:

"leveragedlease","taxleasing",etcinaccordwiththegovernmentencouragesinvestmentdirectionleasemodes,enlargedpolicyefforts,promotetheeconomicdevelopmentofourcountry.Fromourleasedatacanbefoundinadecadeagoourleasepermeability（leasingforeheadoccupiesequipmentinvestmentproportion）is32%,leasetheforeheadis$120billion,after10years（1999）,theleasingofstatisticaldata,thelease34.4%permeabilityistheforeheadis2260billiondollars.Leaseleasefrontaldoubled.Itseconomicpermeability（rentalamountofGDP）30%oftheproportionofGDPofChinaaccountsforalmostathird.LeasewiththeChinaeconomicdoubleforehead,butnomajorpermeabilitychangesshowthatleaseisnotomnipotent,justaeconomiclevers,fromourownexperience,leaseforeconomicdevelopmentintheabilitytomovearound."Leasehassomagicalfunction,itmainlyintheoperationoftherealrightsanduse"separation"conceptinaction,propertyandrightsseparationgaveleaseactivitiestoenlargegovernmentcontrolofthewill,becomemarketbetweengovernmentandmarketbetweeneffectivemacro-controlmeasures.Fromsince9/11,ourcountryandtakeseveralratecutsandtaxadjustmentpolicy,aswellasexpandaccesstowar,layparticularstressongovernmentinputcontroleconomy