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来源:飞排名快问    发布时间:2019年03月19日 23:34:40    编辑:admin         

A lossmaking Chinese miner is snapping up a British computer games developer in a 0m deal that encapsulates the spirit of China’s frenzied, and often incongruous, debt-fuelled shopping spree. 中国一家亏损矿商将要买下英国一家电脑游戏开发商,这笔3亿美元的交易堪称中国疯狂而往往不协调的、债务助燃的收购热潮的典型代表。 The deal, which will see a fantasy games developer bed down with an iron ore miner, comes as insurer Anbang gatecrashes a bn deal for Starwood Hotels and Resorts; itself barely 24 hours after sewing up a .5bn bid for Strategic Hotels amp; Resorts. 该交易将意味着一家奇幻游戏开发商与一家铁矿石生产商联姻。交易宣布之际,中国保险商安邦(Anbang)刚向喜达屋酒店及度假村国际集团(Starwood Hotels and Resorts)发出130亿美元收购要约,而在这条消息传出的24小时前,安邦刚刚达成65亿美元收购Strategic Hotels amp; Resorts的交易。 A total 2bn of outbound dealmaking has been announced from China so far this year, according to Dealogic, aly almost as much as the record 6bn spent in 2015. Dealogic的数据显示,今年以来中国已宣布总计1020亿美元的境外收购交易,逼近2015年全年1060亿美元的纪录。 Shandong Hongda, the iron ore miner, may be putting down less cash, but the 0m price tag is six times its forecast net loss for last year. 身为铁矿石生产商的山东宏达矿业股份有限公司(Shandong Hongda)也许砸下的资金略少一些,但3亿美元的价码已是其去年预测净亏损的6倍。 After beginning life as a village-owned iron ore mine in the early 1990s, it is bolting on Jagex, UK developer of online role-playing game RuneScape. 上世纪90年代初作为村办铁矿诞生的宏达,将要收购在线角色扮演游戏《江湖》(RuneScape)的英国开发商Jagex。 Incongruous diversification is also part of the Zeitgeist. 不协调的业务多元化也是“时代精神”的一部分。 Old industry, such as steel mills and miners, is weighed down by overcapacity and debts and is turning to new areas of business — from pig farming to property to finance. 受到产能过剩和债务拖累的老工业企业,如炼钢厂和矿商,正在转向新的业务领域,从养猪、房地产,到金融。 For two decades investment surged into China, initially capitalising on cheap labour, and then in an effort to tap the flourishing Chinese market that was growing at near double-digit rates annually. 在长达20年的时间里,大量投资涌入中国,最初是为了利用廉价劳动力,后来是为了挖掘蓬勃发展的中国市场,当时中国经济以年均接近两位数的速度增长。 But China’s slowing growth and the mounting pressure of debts accumulated during the boom has turned the tide, and Chinese corporations are seeking the lower but relatively more stable returns of investments abroad. 但是,中国经济增长放缓、繁荣时期积累的债务所带来的越来越大的压力已经使这股潮流发生了逆转,中国企业正纷纷在境外物色较低、但相对比较稳定的投资回报。 Just as RuneScape players battle monsters in the realm of Gielinor, Shandong Hongda has found itself at the mercy of forces beyond its control. 正如《江湖》玩家在Gielinor奇幻世界对战怪兽,山东宏达也受到自己无法控制的力量的摆布。 Flush with cash during the commodities boom, Chinese miners expanded aggressively, then saw margins shrink as a slowdown in growth pummelled ore prices. 在大宗商品繁荣时期赚得盆满钵满的中国矿商,曾经大举扩张,结果却看到经济增长放缓重创矿石价格,导致它们的利润大幅下降。 /201603/432077。

Can a US consumer internet company ever make it big in China? That question, which has long dogged Silicon Valley, is starting to take on the urgency of a strategic imperative.美国的消费互联网公司能否在中国做大?这个长期困扰硅谷的问题正开始变成一项紧迫的战略任务。It isn’t just that China is a juicy target in its own right. There is a risk to ceding ground to emerging Chinese rivals in their booming home market at a time when those companies are taking their first, tentative steps towards going global. US companies, themselves accustomed to using dominance of a massive domestic market as a launch pad to take on the world, should understand what’s at stake.中国市场本身并非一个诱人的目标。风险在于,美国公司的市场份额可能被中国蓬勃发展的国内市场上的新兴本土竞争对手夺走,后者刚开始迈出走向全球的尝试性步伐。美国公司本身习惯于利用巨大国内市场的主导地位作为走向世界的跳板,他们应理解其中的利害。Uber and Airbnb, the yin and yang of the sharing economy, are the latest to try their luck. The ride-hailing app that likes to batter down doors is in a pitched battle with a Chinese local competitor backed by two of those aspiring global players, Tencent and Alibaba. Airbnb, which prefers a less confrontational approach, this week lined upsome influential allies as it seeks its own way in.打车应用优步(Uber)和空中食宿(Airbnb)是共享经济的“阴阳”两面,它们是最新两家想碰碰运气的公司。喜欢直接破门而入的Uber正与中国一家本土竞争对手较劲,后者得到中国两家志向远大的全球竞争者腾讯(Tencent)和阿里巴巴(Alibaba)的持。而喜欢采用对抗性不那么强的策略的Airbnb最近拉到一些颇具影响力的盟友,希望用自己的方式进军中国。“Localisation” figures prominently in both companies’ game plans. Having the right management and local backers and supporters certainly helps. Knowing when to adapt a successful global formula will also be key. The failure in China of eBay, which was outflanked by Alibaba’s free listings for buyers and its introduction of a payment service to reduce fraud risks, is still a case study in how an adaptable local rival can come out on top.这两家公司的通盘计划都把“本地化”放在突出位置。具备合适的管理层和本地后台及持者,肯定会有所帮助。知道何时修改全球成功方程式也很关键。eBay在中国的失利,仍是说明适应性强的本地竞争对手能够胜出的典型案例。阿里巴巴让买家免费展示商品,并引入付务以降低欺诈风险,这些都比eBay高明一些。Uber and Airbnb at least have one advantage over companies like Google and Yahoo, which failed before them: they aren’t directly involved in the online media and communications businesses, making them less obviously targets of an authoritarian state.Uber和Airbnb至少具备一个相对于谷歌(Google)和雅虎(Yahoo)等公司的优势,后两者已在中国折戟:Uber和Airbnb不直接涉足在线媒体和通信业务,这让它们不那么容易成为威权政府瞄准的目标。But any successful internet business is to some extent a challenge to the status quo. China’s latest gesture towards online control — to station police officers physically inside internet companies — is an indication of the outsized influence that the successful internet companies can have, whatever corner of the market they are in.然而,任何成功的互联网公司在一定程度上都是对现状的挑战。中国控制网络的最新姿态(警察进驻互联网公司办公地点)表明,成功的互联网公司可能会具备过大的影响力,无论它们处于哪个市场缝隙。One reason is the amount and range of the data they hold. Amassing a giant database about the movements of a nation’s citizens is a key asset. And that is likely to be only a starting point, as the winning platforms reach into more areas of online (and, increasingly, offline) life.一个原因是它们持有的数据的规模和范围。有关一国公民活动的巨大数据库是一项关键资产。随着各个胜出的平台把触角伸入更多在线(以及越来越多的线下)生活领域,这可能还只是一个开始。Holding the data locally might give authorities greater confidence that they can tap into it when they need: Uber has data centres for its operations inside China. But there is still a question about whether a foreign company could ever be trusted to be as compliant as a local competitor.在本土保管这些数据,可能会让当局更有信心认为,他们能够在需要时利用这些数据:Uber在华业务设有境内数据中心。但仍有一个问题:能否相信一家外国公司像本土竞争对手那样依从?Another factor that weighs on foreign players is the way that competition tends to evolve in internet markets. Many turn into winner-takes-all affairs, with the companies that come out on top ending up as centres of power in their own right.另一个不利于外国公司的因素是互联网市场的竞争演变方式。很多竞争搞到最后成了“赢者通吃”,拔得头筹的公司变成实力中心。The immodest ambitions of a company like Uber highlight what is at stake. It aspires to become an essential part of the infrastructure of any big city, not only supplying personal transport but also handling logistics. Local governments in China may resist foreign control of something so essential, even if Uber promises to help solve some of the problems caused by swelling personal car ownership for China’s polluted and traffic-clogged cities.Uber这种怀有巨大雄心的公司突显了其中的风险。它渴望成为所有大城市不可或缺的基础设施的一部分,不仅提供个人交通,还要染指物流。中国地方政府可能反对外国公司控制如此关键的基础设施,即便Uber承诺帮助中国污染严重且交通拥堵的城市解决私人汽车保有量增加所带来的一些问题。A key question now will be how far the latest US aspirants are prepared to go to become truly “local” to overcome reservations like these. Uber’s funding arrangements for China are the most intriguing. It aly has Chinese investors and is now trying to close a funding round for a separate Chinese unit, bringing outside investors directly into the business.现在的一个关键问题在于,最新一批有志进军中国市场的美国公司,准备在多大程度上变得真正“本地化”,以消除中国方面的疑虑。Uber在中国的融资安排最耐人寻味。该公司已拥有中方投资者,现在正试图为另一家在华公司搞定一轮融资,让外部投资者直接投资Uber的这块在华业务。An Uber spokesperson says the company is also contemplating a local initial public offering, some time in the future, for its Chinese arm, though there are no plans for a one at the moment.Uber发言人表示,该公司还在考虑未来将其在华业务在中国国内上市,尽管目前还没有这方面的计划。Given its huge need for capital and the particularly cut-throat nature of the Chinese taxi app wars, local investors will be useful. A structure like this would also give Uber more flexibility to adapt later — for instance by bringing in local partners or even, if forced, to reduce its stake in the Chinese venture.鉴于巨大的资本需求以及中国打车应用大战尤为激烈,引入本土投资者将是有帮助的。这种结构还将赋予Uber更大灵活性,便于以后调整,例如引入本土合作伙伴,或者甚至(在被迫的情况下)减持在华业务的股权。But for any US internet company, staying in the driving seat will be a priority. Yahoo’s decision to fold its struggling Chinese business into Alibaba a decade ago turned into one of the most successful internet investments ever made. But now, as it gets y to spin out what’s left of that minority stake, Yahoo’s diminished role is all too obvious. That is a fate its successors will be working hard to avoid.但对于任何一家美国互联网公司而言,保持控制权将是优先任务。雅虎10年前决定将其步履维艰的中国业务并入阿里巴巴,而那个决定结果成为史上最成功的互联网投资之一。但如今,在雅虎准备脱手这部分少数股权的剩余股权之际,雅虎的地位下降表露无遗。这是后来者要努力避免的命运。 /201508/395288。

Novas and Supernovas新星和超新星Novas and supernovas are all variable stars created by nova outbursts.During a nova outburst, the brightness may increase over the course of a few days by several thousand or even dozens of thousands of times.Then it will gradually dim, eventually returning to its originai brightness after several or dozens of years.新星和超新星都是由新星的爆发而产生的变星。新星的爆发有时能在几天时间内将这颗星的亮度增强几千到几万倍,随后它又会渐渐暗弱下去,几年或十几年之后最终回到原来的亮度。The outbursts of supernovas are even more spectacular, increasing their brightness by up to hundreds of millions of times. The ancient Chinese people named such celestial bodies ;guest stars;. The earliest record on guest stars in China dates back to as early as in the 14th century , about a nova near the a Star on the Scorpio Constellation.超新星的爆发更加壮观,可以将这颗星的亮度增强到几百万倍,中国古人称这类天体为“客星”。中国最早的客星记载是大约公元前14世纪出现于天蝎座(心宿二)附近的一颗新星。During the period between the Shang Dynasty and the end of the 17th century,78 novas and especially 12 supernovas were recorded in China#39;s historic books.Such a rich and systematic record of supernovas is unique in the world.自商代至17世纪末,中国史书共记载了78颗新星、12颗超新星,这么丰富而又系统的超新星纪事,在世界上是独一无二的。Of all the recorded novas and supernovas, the most brilliant was the superno-va near the Tianguan Star in the Taurus constellation, which lasted two years after its outburst.在中国史书中所记载的新星、超新星中,最精的要算宋至和元年(1054年)出现在金牛座天关星附近的超新星,这颗超新星爆发后达两年之久才变暗。After the birth of the radio telescope in the 1930s, many scholars in the world,in an effort to search for the correspondence beiween the radio source in the Milky Way galaxy and the supernova, carried out detailed research on the ancient re-cords on novas and supernovas. It turned out seven of the twelve supernovas re-corded by ancient Chinese astronomers correspond to the radio source, whichshows the importance of China#39;s records on guest stars to modern astronomic re-search.20世纪30年代射电望远镜问世后,世界上许多学者为了寻找系中射电源和超新星的对应关系,无不对中国古代的新星、超新星记录做详细研究。研究明,在中国古代的12次超新星记录中,有7颗以上对应着射电源。这充分说明中国古代的客星纪事对现代天文学的研究所起的重要作用。 /201511/409359。

Celadon青瓷Celadon, a famous type of anaent Chinese stoneware, came into be-ing during the period of the Five Dynasties.It is characterizecf by simple but refined shapes,jade-like glaze, solid substance and a distinc-tive shrrle.prototype first emerged as early as the Shang Dynasty, gained the equal fame with white porcelain in the Tang Dynasty. The skills in celadon designing and firing were con-summated in the Song Dynasty due to the con-tributions from five celebrated imperial kilns-Ru, Guan, Ge, Jun and Ding. With five impe-rial kilns paying tributes to the royal court with their fine celadon products, several plebeian kilns, best represented by Yaozhou kiln in North China and Longquan kiln in the south, also prospered with their unique designs in cetadon making.青瓷是我国传统国瓷,始于五代。青瓷的特点是质坚胎薄、线条优美、光泽柔和,从商周的原始青瓷,到唐代“南青北白”,青瓷的技艺在宋代达到颠峰。宋代五大名窑“汝、官、哥、钧、定”,先后都以烧制青瓷而成为宫廷瓷器,形成官窑青瓷的流派;而民间青瓷也是异常繁荣,以北方的耀州窑和南方的龙泉窑为代表,形成独特风格的民窑青瓷的流派。Celadon has long been highly appraised in China mainly due to ifs similarity with jade in coloring and composition.It is mainly colored with ferric oxides and its hardness is somewhere between china and porcelain, so it is usually classified as a type of stone ware.青瓷之所以在中国受推崇,是因为青瓷与玉石类似,它的成色成分和构成物质均与玉石相似,是以氧化铁为主要着色成分,而质地是属于陶与瓷之间的“炻器”状态,也就是常说的火石器。 /201512/410755。

Samsung Electronics has replaced the head of its mobile business for the first time in six years, as it seeks to reverse a recent trend of falling smartphone sales.三星电子(Samsung Electronics)六年来头一次更换其移动业务部门主管,试图逆转近期智能手机销量的下跌势头。Shin Jong-Kyun, who fostered the successful Galaxy smartphone series as Samsung’s head of mobile communications from 2009, will hand the mantle to Koh Dong-jin, head of mobile research and development, the company said on Tuesday.作为2009年以来的三星移动通信部门主管,申宗均(Shin Jong-kyun)曾在其任内推出了极为成功的Galaxy系列智能手机。周二,三星表示申宗均将把这一重任交给移动研发部门主管Koh Dong-jin。Mr Shin, 59, will retain his formal position as one of three co-chief executives, to focus on long-term strategy — but he will “step back from day-to-day operations”, Samsung said.三星表示,59岁的申宗均将保留其作为三名联席首席执行官之一的正式职位,以便把主要精力放在长期战略上,不过他将“退出日常运营”。The move follows extensive speculation — beginning in the lead-up to last year’s reshuffle — that Mr Shin would be sidelined in response to setbacks in the mobile division.在三星这一举措前,去年三星的洗牌之前就开始有大量猜测认为,为回应移动部门所遇的挫败,申宗均或将退出该部门。Samsung remains the world’s leading smartphone producer by sales but its handset profits have fallen since the first half of last year, as it lost share to lower-cost Chinese peers at the low end of the market, and a resurgent Apple at the high end.三星依然是全球销量顶尖的智能手机制造商,不过自去年上半年以来,随着其市场份额在低端输给成本较低的中国对手,高端输给再次崛起的苹果(Apple),其手机盈利已经滑落下来。“In the context of Samsung’s culture, somebody has to be held responsible,” said Daniel Kim, an analyst at Macquarie. “I expected him to resign last year, actually, but he stayed another year and the handset division is still not showing any meaningful sign of improvement.”麦格理(Macquarie)分析师丹尼尔金(Daniel Kim)表示:“按照三星的企业文化,必须由某个人承担责任。事实上,我本来预计他去年会辞职,然而他却又呆了一年,手机部门仍未显示出任何改善的明显迹象。”Mr Shin’s retention as co-chief executive seemed a “mark of respect for his contribution in the past”, Mr Kim said, calling his move “one step towards retirement”.丹尼尔金表示,申宗均留任首席执行官似乎是“表示对其过去贡献的尊重”,并称他的这一变动“离退休更近了一步”。The Galaxy series achieved huge market success from 2011 onwards, spearheading Samsung’s rise to become the world’s leading smartphone maker. But as competition intensified last year, the bloated portfolio of products that cost more than those of Asian rivals failed to attract consumers.2011年以来,Galaxy系列智能手机取得了巨大的市场成功,引领三星崛起为全球头号智能手机制造商。然而随着去年竞争加剧,臃肿的产品组合导致成本高于其亚洲对手,不能吸引客户。This year’s Galaxy S6 flagship won enthusiastic reviews but sales undershot targets.今年推出的Galaxy S6旗舰手机赢得了热情洋溢的评价,销量却未能达到目标。 /201512/413506。

The killing of a technician by an industrial robot at a Volkswagen plant in Germany sparked a social media storm this week and raised fears about human safety in the coming era of robotics.本周,大众汽车(Volkswagen)德国工厂一台工业机器人导致一名技师丧生的事件,在社交媒体上掀起了一场风暴。这件事还让不少人担心,在即将到来的机器人时代中,人类自身的安全会受到威胁。But experts on artificial intelligence and automation said the incident near Kassel should be understood as an extremely rare industrial accident, rather than a warning about future threats. The accident, in which the robot crushed the man against a metal plate, occurred during installation and involved a fast-moving first-generation robot designed to operate inside a cage, well away from human workers.但人工智能和自动化专家表示,卡塞尔市(Kassel)附近发生的这起事件,应被理解为一起极为罕见的工业事故,而不是关于人类未来会面临哪些威胁的一次警告。这起事故是在技师装配机器人的过程中发生的,机器人把技师挤到了一块金属板上。涉事的是一台快速移动的第一代机器人,从设计上说,这种机器人是在笼子里工作的,远离人类员工。“With present technology we cannot ‘blame’ the robot,” said Blay Whitby, artificial intelligence expert at the University of Sussex. “Robots are not yet at a level where their decision-making allows us to treat them as blameworthy.萨塞克斯大学(University of Sussex)人工智能专家布莱#8226;惠特比(Blay Whitby)表示:“就现有的技术而言,我们不能‘将责任记在’机器人头上。机器人还没到发展到那种程度,我们不应认为它们能为其所做的决策承担责任。”“This unfortunate accident is technically and morally comparable to a machine operator being crushed because he didn’t use the safety guard,” he added. “In this case it’s more complex and therefore more forgivable because ‘the safety guard’ [at Volkswagen] was provided by computer software and he was in the process of setting it up.”他补充说:“从技术和道德角度说,这起不幸的事故相当于一名机械操作员因未采取安全防护而被挤死了。具体到这个例子,情况要更复杂一些,因此也更值得原谅,因为(大众的)‘安全防护’是由电脑软件提供的,而他当时正在配置这一软件。”The next robotic generation — known variously as “workplace assistant robots”, “collaborative robots” or just “cobots” — are designed to operate uncaged alongside people. They incorporate sensors and other safety features to limit the force they can exert and prevent them running amok.下一代机器人被称为“工作场所助理机器人”、“协作机器人”或简称“Cobot”(collaborative robot的缩写——译者注)。从设计上说,这种机器人是不在笼子里而是在人们身边工作的。这种机器人拥有传感器及其他安防措施,能够限制它们的力气并防止它们横冲直撞。“Unfortunately people have exaggerated expectations and exaggerated fears about robots,” said Professor Alan Winfield of the Bristol Robotic Laboratory in southwest England. “They have been oversensitised by sci-fi movies and stories in the media.”英格兰西南部布里斯托机器人实验室(Bristol Robotic Laboratory)的艾伦#8226;温菲尔德(Alan Winfield)教授表示:“很遗憾,人们对机器人的期望和恐惧都过了头。他们被科幻电影和媒体报道弄得过于敏感。”Professor Sandor Veres, head of Sheffield University’s Autonomous Systems and Robotics Research Group, pointed out that there have been very few fatal accidents with caged industrial robots since the manufacturers began installing them in the 1970s.谢菲尔德大学(Sheffield University)自主系统和机器人研究小组(Autonomous Systems and Robotics Research Group)主管尚多尔#8226;韦赖什(Sandor Veres)教授指出,自上世纪70年代制造商开始装配在笼中工作的机器人以来,这种致人死亡的事故极其罕见。Since the first recorded robot killing, in a US Ford factory in 1979, such incidents have occurred at a rate of less than one a year — making up a minuscule fraction of all deaths in industrial accidents.第一起记录在案的机器人致人死亡事件,发生在1979年的福特(Ford)美国工厂。自那以来,这类事件每年发生不到一起,在所有致人死亡的工业事故中只占极小的比例。Indeed robotic automation has probably cut the overall death rate in factories, because more people would have been killed through a range of other industrial accidents doing the work replaced by robots.事实上,机器人自动化很可能降低了工厂中的整体死亡率,原因是假如由人力来做机器人所做的工作,本会有更多的人在一系列工业事故中丧生。 /201507/384167。