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外贸合同中常见词汇的翻译

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2021-01-25 09:53
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2021年1月25日发(作者:9452)

China and India's State-Owned Reinsurers Adopt Divergent
Strategies

February 12, 2012

The state-owned reinsurers of China and India have traveled different paths to
expansion. With its recent investment in a Lloyd's syndicate, China Reinsurance
Group is mapping an international course that leads to Europe, the Americas
and Africa.
In the year ahead, market observers expect the Chinese reinsurer to be more
competitive and to
sufficient capital reserves and regulatory supports following its first overseas
strategic partnership.
China Reinsurance (Group) Corp. started operating a special-purpose Lloyd's
syndicate this year by forming a strategic partnership with U.K.-based Catlin
Group Ltd. to write reinsurance cover for an existing Catlin syndicate. The
Chinese state- owned reinsurer earlier said it and Catlin would provide capital for
Syndicate 2088, which will have a stamp capacity of about 50 million pounds
(US$$78.7 million).

both in the home market and abroad, and to have a greater involvement in
international markets,
the alliance with Catlin will be a
while the new venture will help the reinsurer to gain a better knowledge of
Lloyd's and benefit from its worldwide network (Best's News Service, Nov. 8,
2011).
It will also increase the company's experience of international reinsurance
operations and management and help build a foundation for China Re to grow
into an important player in the world reinsurance market, said Li. The company
intends to continue its
setting up overseas representative offices and branches, and seeks to become a
medium-size international reinsurer by 2015 (Best's News Service, Aug. 9,
2011).
China Re's plan is to
participation in Europe and America, while gradually developing emerging
markets like Latin America and Africa by leveraging on its strong capital base
and positive international credit ratings,
Currently, about two-thirds of China Re's international business is generated
from traditional Asian markets, while the remaining one-third comes from
mature markets like Europe and America. This compares with other regional
reinsurers, such as Korean Re's business ratios of 43% from Asia and 23% from
Europe and America; as well as Japan-based Toa Re's 24% from Asia and 74%
from Europe and America, noted the Chinese reinsurer
.




To further expand in the international market, Li said China Re can either
increase the ceding of part of its own reinsurance business to foreign reinsurers,
or underwrite part of the ceded reinsurance business from overseas reinsurers
in addition to establishing its own overseas branches or subsidiaries, or to
expand through mergers and acquisitions.
Different from relying on a foreign partner to tap further into the global market,
India's state-owned reinsurer -- General Insurance Corporation of India --
entered the overseas market earlier than China Re by opening its own branch
offices in London, Moscow, and most recently, Malaysia. It has also developed as
a reinsurance solutions partner for the Afro-Asian region, and operated
reinsurance programs in the South Asian Association for Regional Cooperation
countries, Southeast Asia, the Middle East and Africa.
During the fiscal year ending March 31, 2011, GIC Re reported year-on-year
premium growth of 20% to 116.81 billion rupees (US$$2.29 billion). Among the
total, foreign business accounted for approximately 40.3%, down from 44.7%
for the previous year
, according to its annual report.
In 2010, China Re noted premium income of less than 1.5 billion yuan (US$$238
million) from overseas ceded reinsurance business, accounting for 6% of the
group's total. Its premium income generated from reinsurance and insurance
business during the year totaled 38.13 billion yuan, including 13.82 billion yuan
from direct insurance and 24.31 billion yuan from reinsurance. The group had
operating income of $$38.8 billion in 2010, with total assets and pretax profits of
99.5 billion yuan and 3.06 billion, respectively.
When focused on the primary insurance market, China and India are both
growth markets, while the Chinese players again are better positioned for global
growth, as limited local insurance business size and smaller domestic market
base have curbed the Indian companies' expansion ambitions.

China, and there is still huge room for growth,
, a Hong
Kong-based partner and head of insurance for greater China at Accenture, an
international consultant.

which is dominated by one mega government- owned insurer
. Thus the
probability of any local insurer in India looking outward is extremely low,
Khor
, who said Indian insurers and the state-owned reinsurer
on their domestic market, instead of overseas expansion.
Low insurance penetration, a vast population and rapid economic development,
however
, would continue to provide a largely untapped potential to be explored
in India, such as traditional property, engineering and marine classes, liability,
oil and energy, aviation, health and nuclear power
, GIC Re's chairman and
managing director Yogesh Lohiya said earlier (Best's News Service, June 29,
2010).


Given the economic situation and the expectation of an insurance growth
slowdown, particularly in 2012, Khor said Chinese insurers
focused on their core business in China in the near term,
ways to sustain the growth momentum and improve operational productivity
and efficiency.
The domestic Chinese market still has growth opportunities, which means
overseas expansion is
saturated and challenging, especially in the West.
possibility of Chinese insurers investing in other emerging or developing
markets, for example, in Southeast Asia and Africa, or even taking up a minority
stake in a foreign financial institution entity in a matured market,
.
The China Insurance Regulatory Commission said Chinese insurance companies
have steadily implemented a
China joined the World Trade Organization, which has helped them enhance
their domestic and international competitiveness.
The Beijing-based regulator expects the global financial environment will be
positive in the mid to long term, and the domestic health insurance and pension
markets will provide more opportunities to foreign insurers (Best's News Service,
Dec. 20, 2011).
Eight Chinese insurers have set up 27 operating units overseas, while six
domestic insurers have established eight representative offices overseas.
China Re was jointly founded by the Ministry of Finance of China and Central
Huijin Investment Corp. with 15.09% and 84.91% stakes, respectively. It has
paid up capital of 36.41 billion yuan.
China Re currently has a Best's Financial Strength Rating of A (Excellent). GIC
Re currently has a Best's Financial Strength Ratings of A- (Excellent).
(By Rebecca Ng, Hong Kong news editor:
@
)




CHINA DAIL
Y

India's trade deficit widens as import growth
outpaces exports
Updated: 2012-02-10 07:38
NEW DELHI - India's trade deficit widened to a three- month high in January as
import growth outpaced the climb in exports, the top bureaucrat in the
commerce ministry said.

Merchandise exports rose 10.1 percent to $$25.4 billion last month from a year
earlier, Commerce Secretary Rahul Khullar told reporters in New Delhi on


Thursday. Imports gained 20.3 percent to $$40.1 billion, leaving a trade deficit of
$$14.7 billion, he said.

A trade gap Khullar said may reach $$160 billion in the current fiscal year
threatens to revive pressure on the rupee after it tumbled the most in Asia last
year. Europe's debt crisis has curbed overseas sales by nations from Thailand
to China, and the Reserve Bank of India has signaled interest-rate cuts to
shield growth providing inflation slows further.


exports,
Institute for Public Finance and Policy, said before the report.
pressure on the rupee to weaken.

The slowdown in Europe is weighing on exports, Khullar said, adding the
current-account deficit may reach 3.5 percent of GDP in the 12 months
through March. The next fiscal year will be a tough one for overseas sales, he
said.

India's government two days ago predicted the weakest economic expansion
this year since 2009. GDP will probably rise 6.9 percent in the 12 months
through March from a year earlier, it said. Asia's third-largest economy
expanded 8.4 percent from 2010 to 2011.

Growth has slowed after the reserve bank raised rates by a record amount
from 2010 until October last year to fight price gains and as Europe's turmoil
and policy gridlock deter investment.

The central bank on Jan 24 cut the amount of deposits lenders need to set
aside as reserves for the first time since 2009, seeking to ease a cash squeeze
and bolster expansion. It left the repurchase rate at 8.5 percent for a second
meeting.

Thursday's report showed the climb in exports was the fastest in three months.
At the same time, it fell short of the pace recorded each month from November
2009 through October 2011.

India said it will step up trade with Iran even as international sanctions against
the Persian Gulf state over its nuclear program are tightened.

India, which buys about $$9.5 billion of crude oil annually from Iran, plans to
send a trade delegation to Teheran in a bid to boost exports of goods not
covered by United Nations restrictions, Khullar told reporters in New Delhi on
Thursday.


will snap them up


end of the month to promote our own exports.

India will continue to buy Iranian oil and opposes sanctions on the Islamic
Republic from anyone except the UN, Ranjan Mathai, India's foreign secretary,
said on Jan 17.

India will also keep exporting rice to Iran, its biggest buyer, as the two nations
take steps to clear delayed payments and boost trade.

The country will maintain shipments of basmati rice at 1 million tons a year,
said Vijay Setia, president of the All India Rice Exporters Association.

Iranian buyers defaulted on payments for as much as 200,000 tons of rice in
the past few months, said Setia in a phone interview. India appointed UCO
Bank to open letters of credit in rupees for trade with Iran and that may help
exports to continue, he said.

Export

Bloomberg News

(China Daily 02/10/2012 page17)



The second meeting of the Sino-Indian Strategic
Economic Dialogue will be held in India in 2012
Securities Times, September 26 from the Development and Reform Commission was
informed
that
the
second
meeting
of
the
Sino-Indian
Strategic
Economic
Dialogue
will
be held in 2012 in India.





Blue
Book:
China
and
India
to
carry
out
the
Strategic
Economic
Dialogue
to
promote
bilateral
cooperation in the implementation


Reuters, January 4, 2012, jointly organized by the Chinese Academy
of
Social
Sciences,
Asia
Pacific
and
the
Global
Institute
for
Strategic
Studies, Social Sciences Documentation Publishing House, 2012

experts analyzed the overall development of the 2010-2011 Asia- Pacific
region, predicted in 2012 the trend of development in the Asia-Pacific
region, and officially released the 2012 Asia-Pacific Blue Book

The first meeting of the Sino-Indian Strategic Economic Dialogue
held in Beijing on September 26, 2011, which is Asia's two neighbors on
their own economic situation, macroeconomic policy and the related
fields of industrial policy and pragmatic cooperation, the first
exchange and dialogue. China-India relations go beyond the bilateral
scope and is increasingly global and strategic significance of the
strategic
economic
dialogue
beyond
the
economic
sphere,
with
the
global
strategic significance.
The Blue Book points out, the context of major concern in India,
the first meeting of the Sino-Indian Strategic Economic Dialogue is no
doubt focus on resolving India's growing trade deficit in the trade
imbalance gradually. However, China and India each other's economic
situation and macroeconomic policy dialogue, bilateral
the more widely in relation to the development of each other within the
framework of, and not a
to treat This is indeed an important symbol of the bilateral relations
have entered a rational stage of development. At present, the world
economic outlook is uncertain, the increased uncertainty in the
international political situation, in the context of the United States
as the representative of the Western developed countries, economic
recovery difficult, as a close neighbor of the two emerging economies
through
the
establishment
of
the
strategic
economic
dialogue
mechanism,
strengthen The country's macroeconomic policy coordination, to jointly
cope with the problems and challenges in each other's economic
development, not only is timely and necessary.
The Blue Book also pointed out that the pragmatic cooperation of
China
and
India
first
strategic
economic
dialogue
between
China
and
India
to build a platform,


established in April 2009 compared to the former issue is still very
limited, Many cooperation from the implementation of the

the
Strategic
Economic
Dialogue
in
China
and
India
can develop into a
many factors, but this is undoubtedly the direction of the bilateral
efforts.
Overall, the 2011 Sino-Indian relations is stable. Indian Navy to
strengthen the presence of the South China Sea and India's involvement
in the South China
Sea disputes
event
also shows that
since 2010 India's
stance on China to show the hard-line trend in the further development.
India
hope
to
expand cooperation
with
China
on
development
issues
on
the
one hand, a positive but cautious attitude; the other hand, India has
misgivings on the enhancement of the strength of China's development
process,
as
well
as
the
South
Asian
region. Can
be
predicted
that
India's
ambivalence
will
continue
to
exist
in
the
future
for
a
long
period
of
time,
the stable development of and relations between the two countries have
a
certain
impact.
Tentatively
for
India,
confrontational
behavior,
Indian
scholars
believe
that
the
tough
stance
taken
by
India
on
the
issue
of
close
to its core interests seems to have paid off. However, this tentative
confrontation is unwise. Hard-won good situation of the Sino- Indian
good-neighborly and friendly relations. China's positive attitude to
conform to the expectations of India, through the establishment of a
strategic economic dialogue mechanism to solve the development problems
facing
each
other,
is
based
on
efforts
to
safeguard
the
overall
interests
of a stable and healthy development of bilateral relations. In this
regard, the Indian policy-makers should have a clear understanding. The
two
countries
should not
only
effectively take
care
of
each
other's
core
concerns
and
do
not
want
to
own
unreasonable
demands
imposed
on
the
other
side, this requires not only wisdom, skill, need to mind.





/
Foreign
Direct
Investment
in
India

s
Single and Multi-Brand Retail

New
opportunities
and
developments
lie
in
store
for
foreign
retailers



By
Chris
Devonshire-Ellis
and
Ankit
Shrivastava,
Dezan
Shira
&
Associates
Feb. 2

As India has liberalized its single brand retail industry to
permit
100
percent
foreign
investment,
we
take
a
look
at
the
regulatory
issues
and
legal
structures
pertinent
to
establishing
operations in this new dynamic market. That India should be well
on
the
radar
for
foreign
retailers
was
recently
supported
by
A.T.
Kearney,
whose
2011
Global
Retail
Development
Index
ranks
the
nation as fourth globally.
India

s
retail
industry
is
estimated
to
be
worth
approximately
US$$411.28
billion
and
is
still
growing,
expected
to
reach
US$$804.06 billion in 2015. As part of the economic liberalization
process
set
in
place
by
the
Industrial
Policy
of
1991,
the
Indian
government
has
opened
the
retail
sector
to
FDI
slowly
through
a
series of steps

India’s Per Capita Income Rises 16.9%

Feb. 1

India

s average income for the fiscal year 2010-2011 rose
16.9
percent
to
reach
a
US$$1,000
average
for
the
first
time,
according
to
data
released
by
the
Central
Statistics
Office
this


week.

Real GDP growth is outstripping population growth so per capita
income has been on the rise,

stated D.K. Joshi, chief economist at
Crisil.

India
Further
Liberalizes
FDI
Policy,
Drops
Mandatory Lock-In Period
Jan.
26


The
Indian
government
is
loosening
its
foreign
direct
investment
regulations
and
is
now
allowing
foreign
investors
the
opportunity
to
repatriate
their
original
investment
before
the
expiration of a three-year lock-in period from the day it completes
its minimum capitalization norm for the sector.
While
the
Department
of
Industrial
Policy
and
Promotion
has
expressed misgivings about the policy change, the government has
contended that this restriction can be done away with if the investor
offers an acceptable reason for not making the investment.



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