资料：Rahul Chadha, co-chief investment officer for Hong Kong-based Mirae Asset Global Investments, has a few charts he is particularly fond of when it comes to telling a story about investing in China. One shows income growth in China. Based on the current

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资料：Rahul Chadha, co-chief investment officer for Hong Kong-based Mirae Asset Global Investments, has a few charts he is particularly fond of when it comes to telling a story about investing in China.
One shows income growth in China. Based on the current rate of expansion, he expects the world's second-biggest economy will achieve high income status — defined as income of almost $12,500 per capita — in eight years.The second shows a ratio of household debt to gross domestic product for a number of countries. For thrifty mainland China households, the ratio is 28 per cent. That compares to India at one end of the scale at 15 per cent and the UK at the other with 90 per cent.
So, based on their income and potential to borrow, the Chinese have spending power and the potential to increase it. The growing muscle of Chinese consumers is not, of course, a new investment theme when it comes to Asia. But at a time when wage growth is muted in other large economies, such as the US and the Eurozone, the situation in China is surprisingly overlooked rather than celebrated. Disposable income per household in China rose 7.3 per cent in real terms in the first half of this year. That surpasses the 6.9 per cent pace at which the economy expanded in the period. Moreover, the number of jobs created in urban areas came in at 8.55m in the first seven months of 2017, according to data from JPMorgan, not too far from the year-end target of 11m. In sharp contrast, India is generating roughly 1m jobs a year at a time when it needs to fashion 10 times more to absorb the youth streaming in from the countryside in search of a better living.
It's not just the level of income that is improving in China. Its distribution is too. The government is spending more on a social safety net, and provides more by way of pensions and medicines, including medical care and education.“In a way this is catch up,” Haibin Zhu, chief China economist at JPMorgan, says of the income growth in China. “In a way it reflects the fact that the working age population is declining. But for the past 10 years income is going up for the majority of people steadily and gradually.”
It's an especially notable achievement given that some of the other forces at work in the Chines economy are far from helpful. The expansion of the sharing economy and ever growing role of technology across most sectors is ultimately deflationary. Automation is increasingly displacing manufacturing jobs. At the same time, sophisticated computers are now eliminating low end service jobs.
As investors survey the effects of income growth, it is the new economy, with its emphasis on services and consumption, and private companies in it, that are the beneficiaries as they cater to the appetites of a growing middle class. Mr Chadha, for example, is a fan of companies such as Ctrip, an online travel app, healthcare, insurers such as Ping An, （rather than the state owned behemoths） and internet and e-commerce firms. Ctrip for example has 75 per cent market share in online travel.

What dose the underlined sentence mean?

A.We should resist the trend of automation
B.The growth of the economy and technology brings prosperity
C.Technology is double-edged since some jobs will be eliminated
D.The development of technology is devastating

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第1题：

When it comes to placing an interest hook in your elevator pitch and making it more contagious, you should speak proudly about your story as the listener is experiencing it.()

参考答案：对

第2题：

听力原文：Investors can cope with some investment problems by confining their investments to those that involve only modest risk.

(2)

A．Investors can cope with any problems they may meet.

B．Investors can't cope with problems when they meet with difficulty.

C．Investors can cope with some investment problems by confining their investments to those that involve only modest risk.

D．Investors can cope with easy problems.

正确答案：C
解析：单句意思为“投资者从事风险小的投资活动可以避免一些投资问题。”

第3题：

－ What do you think about this story? －().

A、Thank you for telling me the story

B、Yes, it's a real story

C、I like it very much

参考答案：C

第4题：

Paul has________ friends here, so he often feels lonely. 学科网 A. few B. a few C. som

Paul has________ friends here, so he often feels lonely.

A. few B. a few C. some

正确答案：A

第5题：

听力原文： It's no secret that throughout history common stock has outperformed most financial instruments. If an investor plans to have an investment for a long period of time, then their portfolio should be comprised mostly of stocks ; however, investors who don't have this kind of time should diversify their portfolios. For this reason, the concept of "asset allocation" was developed. Asset allocation is an investment portfolio technique that aims to balance risk and create diversification by dividing assets among major categories. The underlying principle of asset allocation is that the older a person gets, the less risk he or she should face. After you retire you may have to depend on your savings as your only source of income.

28. Throughout history, what kind of stock has outperformed most financial instruments?

29.What is the purpose of asset allocation?

30.What is the principle underlying the concept of asset allocation?

(28)

A．preferred stock

B．common stock

C．concept stock

D．cynical stock

正确答案：B
解析：录音原文一开始就提到It's no secret that throughout history common stock has outperformed most financial instruments，纵观历史，普通股表现优于其他绝大多数金融工具不是秘密。

第6题：

Jackie Chan was born on April 7， 1954 in Hong Kong， China． His parents left mainland China for Hong Kong a short time before he was born． His parents named him "Chan Kang- sang"， which means "born in Hong Kong"． They wanted to celebrate a safe t4ip to ~tng Kong．At first， Jackie's family lived in the French Embassy(大使馆)． His father was a cook，and- his mother was a housekeeper．When Jackie was seven years old， his family moved to Aus- tralia， His father got a job in the American Embassy． Later， back in Hong Kong， Jackie's fa- ther sent him to the China Drama Academy(中国戏剧学院)． Jackie studied and worked 19 hours a day． The students practised Kong Fu(功夫) and learned how to do many stunts(特技表演)thereWhen Jackie was 17， he began to do dangerous stunts for films． In the early 1980s， Jackie went to Hollywood(好莱坞)， but he wasn’t very successful． He went on making films in Hong Kong and had great success． Finally， in 1995， Jackie Chan became famous in the United States． Today， Jackie Chan has both Chinese and American fans， and his films make millions of dollars．

( )21． What is Jackie Chan?

A． He is a cook．

B． He is a singer．

C． He is a film star．

D． He is a housekeeper．

正确答案：C
21.C 【解析】从“He went on making films in Hong Kong and had great success这句可知．

第7题：

He has visited many()placesin China.

A.different

B.difference

C.differentiate

D.differ

正确答案：A

第8题：

---- Could you please tell Jim that I will call him later?

---- Sure. I’ll tell him when he __________.

A. comes B. came C. has come D. will come

正确答案：A

第9题：

He____ me into telling him everything about the new plan.

A、coach

B、fill

C、complain

D、tricked

正确答案:D

第10题：

If at any time the officer in charge of the navigational watch is to be relieved when a manoeuvre or other action to avoid any hazard is taking place，______．

A.the relief of that officer shall be made prior to such action has been completed

B.the relief of that officer shall never be made

C.the relief of that officer shall be deferred until such action has been completed

D.the relief of that officer shall be made by the captain

正确答案：C

资料：Rahul Chadha, co-chief investment officer for Hong Kong-based Mirae Asset Global Investments, has a few charts he is particularly fond of when it comes to telling a story about investing in China.

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