新兴产业5.pptx
Emerging Industries,Unit 6,Unit 5 Internet Finance 3,1 Lead in,Chinas cap on deposit rates at banks is causing money to flood into shadow-banking products such as those offered by “trust” companies in search of higher yields. Alibaba, an e-commerce firm, led the charge with Yue Bao, which allows customers to invest money parked in their accounts at Alipay, its online-payment service.,Though launched only several months, it has already attracted some 400 billion yuan. Baidu, an online search firm, and Tencent, which makes online games, have also since entered the fray. Some see these online firms as a serious long-term threat to banks and the governments ability to control the financial sector, prompting noisy demands (mostly by banks) to regulate the upstarts. Regulators have not yet expressed a clear view, but some observers see signals of a looming regulatory crackdown in attacks by the official media.,1 Lead in,2. Dialogue,Ben: Hey, Amy, whats wrong? You look upset today. Amy: Its all about Yue Bao. Ben: Oh no, please dont tell me your account were stolen. Amy: Of course not, I would not be that careless to become a victim of “phishing”. Its just the rate of return that is troubling me. It has been on a steady decline. In the good old days, it was roughly 6%, but these days, it simply stands around 2.5%.Why? Ben: I believe all these online investment services appear to be more directed at attracting users to their payment platforms than generating profits, at least initially when you and I were drawn to Yue Bao. Nowadays, when the economy is under a downward pressure and money is so hard to make, I would say these platforms are generating only slim earnings, if they are profitable at all. The other day I learned from an expert who claimed that in fact these companies are taking money out of their own pocket to give to the customers.,2. Dialogue,Amy: But another friend of mine recommended to me some other similar online Wealth Management Products, and they all offer a much higher rate than Yue Bao does. I am wondering if I should relocate my money into some other more lucrative platforms. Ben: My word of advice is simply “be cautious.” You are new to these fancy things, and it seems like you are not aware of the potential risks. Amy: What are the risks? Ben: Well, firstly, cyber security is always a challenge for online funds, just like every other online services they are all vulnerable to potential theft of a personal identification. Amy: I agree, nowadays, there simply are so many swindlers out there. I watched news the other day. It was said that a poor guy in Beijing lost all his money because he had not been careful enough to secure personal information. As his bank accounts were linked to his online payment platforms, even savings in his bank accounts were stolen.,2. Dialogue,Ben: Well, as I said before, this is going to be a problem that will trouble all online services, not just Alipay or other online payment tools. And even if you think your personal information is 100% secure. There is always other potential risks. Amy: Like what? Ben: Well, didnt you see the news of E-zubao? Amy: Oh yeah, I heard a little bit about it, but can you tell me more? Ben: Sure. In essence, E-zubao is a P2P lending Ponzi scheme. The scheme promised to pay investors around seven times the interest rates that could be obtained by depositing the money into a bank, with interest rates of between 9% and 14.6% being promised. But it turned out that 95% of the investments that were made fake, and that the purpose of the lending platform was to enrich senior executives.,2. Dialogue,Amy: Thats too horrible. I heard that over 900 000 investors were engaged, many of whom were small investors from rural areas and they could not even get their principal back. Ben: See? Just remember this: Where there is a return, there is a risk. Even if those platforms are safe, some funds can still face an increasing risk of default. As the market gets increasingly saturated and online companies compete to attract users with ever-higher yields, the risk of default may grow. Online companies may be padding you from their own pockets, but this is not explicitly guaranteed, if defaults were to occur, its very unclear who would be paying the bill. Amy: You are right. I may need to do some more research.,3.Language conjure up an image of putting a cap on something in your mind, it will not be hard for you to understand its meaning; it is also interchangeable with ceiling. 2.trust 信托 A trust is a financial arrangement in which a group of people or an organization keeps and invests money for someone. 3.yield 收益 A yield means in our context the amount of money or profit produced by an investment.,Language & Knowledge Points,原句：Some see these online firms as a serious long-term threat to banks and the governments ability to control the financial sector, prompting noisy demands (mostly by banks) to regulate the upstarts. 4.upstart 暴富的、暴发户 A upstart is a newly successful person, business, etc. In our context, it refers to Alibaba, Baidu and Tencent mentioned earlier. 原句：Of course not, I would not be that careless to become a victim of “phishing”. Its just the rate of return that is troubling me. 5.phish It is a wordplay of “fish” because it sounds the same as “fish” and it means to request confidential information over the Internet under false pretenses in order to fraudulently obtain credit card numbers, passwords, or other personal data. In Chinese, it is called “网络钓鱼”.,Language & Knowledge Points,6.rate of return In finance, return is a profit on an investment. It comprises any change in value and interest or dividends or other such cash flows which the investor receives from the investment. It may be measured either in absolute terms (e.g., dollars) or as a percentage of the amount invested. Rate of return is a profit on an investment over a period of time, expressed as a proportion of the original investment. The time period is typically a year, in which case the rate of return is referred to as annual return. Yue Baos rate is calculated as 7-day annualized return.,Language & Knowledge Points,原句：Nowadays, when the economy is under a downward pressure and money is so hard to make, I would say these platforms are generating only slim earnings, if they are profitable at all. 7.slim Slim is synonymous with slender, and here it means small or meager. 原句：But another friend of mine recommended to me some other similar online Wealth Management Products, and they all offer a much higher rate than Yue Bao does. 8.Wealth Management Products Wealth Management Products, known as “理财产品” in Chinese, are investments that offer fixed rates of return well above regulated interest rates for deposits and are often used to fund investments in sectors where bank credit is restricted. A key concern about such products is the moral hazard created by a history of banks bailing out unguaranteed WMPs.,Language & Knowledge Points,原句：I am wondering if I should relocate my money into some other more lucrative platforms. 9.lucrative It means producing money and is similar in meaning to profitable. For instance, “Film-making is a lucrative business.” 原句：I agree, nowadays, there simply are so many swindlers out there. 10.swindler A swindler is someone who cheats a person or business, etc. out of money or other assets. 原句In essence, E-zubao is a P2P lending Ponzi scheme. 11.P2P Lending Peer-to-peer lending, sometimes abbreviated P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders directly with borrowers. .,Language & Knowledge Points,12.Ponzi scheme A Ponzi scheme (also a Ponzi game or a Ponzi) is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The scheme is named after Charles Ponzi, who became notorious for using the technique in 1920.,Language & Knowledge Points,原句： Even if those platforms are safe, some funds can still face an increasing risk of default. 13.default In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.有缘学习更多+谓ygd3076考证资料 原句： As the market gets increasingly saturated and online companies compete to attract users with ever-higher yields, the risk of default may grow. 14.saturate It means to cause a substance to unite with the greatest possible amount of another substance, through solution, chemical combination, or the like.,4. Exercise,1) The American legal and political drama television series The Good Fight follows Diane Lockhart, as she is forced out of her law firm after an enormous _ destroys the reputation of her goddaughter Maia and Dianes savings, leading them to join Lucca Quinn at one of Chicagos pre-eminent law firms. A. Panzi scheme B. Ponci scheme C. Panci scheme D. Ponzi scheme 2) According to Credit Suisse, the value of Chinas zhibo or live streaming market in 2016 was over 25 billion yuan, just 3 billion yuan less than Chinese box office revenue, which is really _. A. luscious B. lucrative C. loquacious D. luxurious,
