Electricity and development in China
中国的电力与未来发展
Lights and action
灯光，开始！注
China is parlaying its hunger for power into yet more economic clout
中国正将对能源的追求转化为经济实力
Apr 29th 2010 | HONG KONG | From The Economist print edition
AFTER a brief blip caused by the global economic slowdown, the electricity business in China is back to normal: in other words, it is buzzing. On April 26th Huaneng Power, the country's biggest utility, began work on a nuclear reactor on the island of Hainan. The week before, the firm had announced that its power output had risen by 40% during the first quarter. The day before that, Datang International Power, the second-largest utility, had said its output was up by 33%. Surges of this magnitude, unimaginable in most countries, are commonplace in China.
全球经济经过短暂调整后，中国电力产业开始重回正轨：或者说正一片喧嚣.4月26日中国最大的电力公司华能国际电力在海南省开建核电站。一周前，该公司宣布其今年第一季度电力输出增长了40%。而此前一天，中国第二大电力公司大唐国际电力称其电力输出增长了3%。如此的增长幅度在其它国家难以想象，而在中国则屡见不鲜。
China's endless power-plant construction boom has accounted for 80% of the world's new generating capacity in recent years and will continue to do so for many years to come, says Edwin Chen of Credit Suisse, an investment bank. Capacity added this year alone will exceed the installed total of Brazil, Italy and Britain, and come close to that of Germany and France. By 2012 China should produce more power annually than America, the current leader.
随着，近几年中国持续的电站建设浪潮，其新增发电量占到世界新增发电量的80%，而且有望在未来数年继续保持此种态势，投资银行瑞士信贷的Edwin Chen如是表示。而今年的新产能就已经超过巴西，意大利，英国现有产能之和，几乎与德国，法国持平。到2012年，中国电力年产能将超过现在世界第一位的美国。
Behind the transformation are myriad forms of government intervention. Although no country has a purely private market for electricity generation, in China the meddling is especially pervasive. Five big state-controlled utilities, including Huaneng and Datang, control 45% of the market and smaller state-controlled entities control another 50%. Most lost money in 2008, made fairly low returns in 2009, and, thanks to a government policy of holding down tariffs, are unlikely to be particularly profitable in the future.
这种转变背后是政府采取的各种行政干预。尽管世界上还没有一个国家的电力市场称得上完全私有化，但在中国，行政干预却尤其普遍。包括华能，大唐在内的五家大型国家控股电厂，其市场份额达到45%，其它小型的国家控股电厂市场份额为50%。绝大多数电厂在2008年亏损，09年亦收益平平，不过由于中国政府压低税率的作法，这些电厂在未来料盈利水平一般。
Nonetheless, again because of government directives, the utilities invest spectacular amounts in capital equipment, financed largely by cheap loans from state-controlled banks. This not only allows utilities in China to produce power more cheaply than those in other developing countries, but also does away with the uncertainty and delay of negotiating guarantees with international development outfits or bilateral export-credit agencies.
不只如此，因为政府指令，这些电厂借助从国家控股银行获取的低息贷款，大手笔购进固定设备。这不光使得中国的电厂可以凭借比其它发展中国家低得多的成本生产电力，同时不必担心市场的变化及与国际开发机构或双方的出口信用保险公司因为就保证条款谈判而可能造成的延迟。
The huge expansion of generating capacity serves many purposes, not least of which is bolstering national pride, especially in rural areas that, not long ago, were consigned to darkness after sundown. Officials are also aware that China's abundant power helps attract investors who are leery of the flickering industrialisation of other emerging markets. Cheap, reliable electricity is one reason why China remains the preferred destination for manufacturing even as its wages rise above those in such countries as Bangladesh, Indonesia, the Philippines and Vietnam.
急剧扩张的电力可以起到多方面作用，尤其重要的是这让中国"民族自豪感"大大提升，要知道还在不久前，中国的农村地区一到晚上还一片漆黑。同时官方也注意到中国的充沛电力帮助吸引了众多投资者，这些投资者对于其它新兴国家落后的电力设施心有疑虑。尽管中国的人工工资水平已经超过诸如孟加拉国，印度尼西亚，菲律宾，越南，但因为具有廉价，稳定的电力供应，中国仍然是外商青睐的生产基地。
This success has come at a cost. Cheap power has fuelled the expansion of energy-intensive heavy industries, such as steelmaking and aluminium smelting, which have made China more dependent on electricity than any other big economy (see chart). That, in turn, has left the Chinese economy ever more exposed to shifts in the prices of coal, oil and natural gas. It also turns China into an international environmental villain, thanks to its billowing emissions of greenhouse gases.
但这种成功是要付出代价的。廉价的电力促使能源密集型的重工业遍地开花，如钢铁制造，铝冶炼，这使得中国比其它经济大国更为依赖电力（见表）。反过来，这又使得中国经济更容易受煤炭，石油，天然气价格波动的影响。同时，因为排放大量的温室气体，中国在国际上又背负了"环境破坏者"的恶名。
Chinese officials, all too aware of these problems, have long been pushing expensive measures to develop alternative forms of generation and cut back on profligate power consumption. The use of power derived from coal will continue to grow in absolute terms (although new coal-fired plants are to be more efficient and cleaner), but its share of total Chinese output will fall from 75% to 65%, estimates Credit Suisse's Mr Chen. Hydropower will expand by more than half, but its share of the total will drop a bit, from 21% to 20%. Wind power will see a big expansion, taking its share from 3% to 7%, as will nuclear, up from 1% to 5%. The rest will come from such niches as solar panels and incinerators.
中国官方对此类问题早已心知肚明，并很早之前就付出巨大代价以寻求替代能源，并力图减少能源使用中的浪费现象。通过燃烧煤炭产生的电力产能，其绝对值将会继续增长（尽管火电厂发电效率会更高，也更清洁），但其占中国电力产出的比率将从75%降到65%,瑞士信贷的Mr. Chen做出上述预测。水力发电量将实现50%的扩张，不过其占电力输出的比率将小幅下降，即从21%降至20%。风力发电量亦会出现大幅增长，同时占电力产能的比率将从3%上升到7%，核电将从1%上升到5%。其它电力产能来自于诸如太阳电池板和垃圾焚烧等系列细分产业。
As with the provision of power in general, the government hopes to capitalise on this transition to spur economic development. Three more state-controlled firms―Shanghai Electric, Harbin Power Equipment and Dongfang Electric―already receive an inordinate number of contracts for electrical equipment from the state-owned generators. The huge volume of orders produces economies of scale which have allowed Dongfang, in particular, to earn spectacular returns.
在能源供给方面，中国政府希望借以促使能源转型达到刺激经济增长。之外三家国家控股公司，上海电力，哈尔滨能源设备和东方电力，业已获得国有电厂电力设备生产的无数订单，。金额巨大的订单形成规模经济，使得一些公司尤其是东方电力获取了丰厚回报。
Suzlon Energy, an Indian wind-turbine manufacturer, is largely blocked from selling into China's booming market. But it makes its turbines in China regardless because similar gains in efficiency, off the back of huge orders won by local firms, have led to very low component prices. Hong Kong-based CLP, one of the few non-local generators allowed to operate in China, says the cost of building power plants has dropped by half in the past decade, thanks mainly to falling equipment costs.
印度的苏司兰能源公司是一家风力涡轮机生产商，但不允许在将商品销往中国这个繁荣的市场。不过其确可以在中国本土生产，因为生产效率的提高（有赖于当地公司接到的大额订单），零部件成本价极低。总部设在香港的CLP公司是为数不多的非本土电力设备生产商。其表示，建造电厂的成本在过去的数十年里下降了一半。这主要归功于持续下降的设备成本。
When foreign suppliers are permitted to sell in China, they are usually required to transfer technology to local firms. China's massive expansion of nuclear power provides a good example. Over the next ten years the authorities plan to spend a trillion-odd yuan ($150 billion or so) to increase its capacity ninefold. The country has 21 nuclear reactors under construction―far more than any other country.
如果国外公司想在中国的电力领域从事销售，通常他们需要将技术转移至当地企业。中国不断扩张的核能就是极好的例子。之后的数十年里， 中国政府计划投资上万亿元（约合1500亿美元）以使核电产能增长8倍。中国现有21座在建核反应堆，该数字高于其它任何一个国家。
Naturally, China hopes to acquire lots of nuclear know-how along the way. Half the content of a unit of the Lingao plant, in Guangdong, where construction began in 2005 and is due to be completed at the end of this year, will be made at home; in the next unit, to be completed next year, the share of local content will be 70%. By 2020, China's goal is to build advanced reactors entirely by itself, and to export its prowess abroad. Chinese firms have already built one reactor in Pakistan, are working on another and plan two more. China is harnessing its hunger for electricity, in other words, to increase its economic power.
这样就不难理解，现在中国为什么渴望获得更多的关于核能的专业知识。中国广东省岭澳核电站的一期组件中有一半由国内制造，而预计下一年完工的二期工程组件中"中国制造"部分将达到70%。到2020年，中国的目标是完全自主建造核反应堆，并实现相关技术出口。中国已经在巴基斯坦修建了一座核反应堆，另有一座在建，另外计划再建两座。中国正在"善用"其对电力的强烈需求，换句话说，即达到增强其经济实力的雄心。
注：light, action 可能来自于直播节目时的指令。如：
Ok! Camera, recording and light, action！
来！摄影，录音，灯光，开始
疑问：
1.Capital equipment：字面理解就是资产设备。不过具体指代不明。猜想很可能是指大宗，金额高的机器设备？望达人指教。
2.but also does away with the uncertainty and delay of negotiating guarantees with international development outfits or bilateral export-credit agencies.
negotiating guarantees ?具体指的啥？
中国的电力与未来发展
Lights and action
灯光，开始！注
China is parlaying its hunger for power into yet more economic clout
中国正将对能源的追求转化为经济实力
Apr 29th 2010 | HONG KONG | From The Economist print edition
AFTER a brief blip caused by the global economic slowdown, the electricity business in China is back to normal: in other words, it is buzzing. On April 26th Huaneng Power, the country's biggest utility, began work on a nuclear reactor on the island of Hainan. The week before, the firm had announced that its power output had risen by 40% during the first quarter. The day before that, Datang International Power, the second-largest utility, had said its output was up by 33%. Surges of this magnitude, unimaginable in most countries, are commonplace in China.
全球经济经过短暂调整后，中国电力产业开始重回正轨：或者说正一片喧嚣.4月26日中国最大的电力公司华能国际电力在海南省开建核电站。一周前，该公司宣布其今年第一季度电力输出增长了40%。而此前一天，中国第二大电力公司大唐国际电力称其电力输出增长了3%。如此的增长幅度在其它国家难以想象，而在中国则屡见不鲜。
China's endless power-plant construction boom has accounted for 80% of the world's new generating capacity in recent years and will continue to do so for many years to come, says Edwin Chen of Credit Suisse, an investment bank. Capacity added this year alone will exceed the installed total of Brazil, Italy and Britain, and come close to that of Germany and France. By 2012 China should produce more power annually than America, the current leader.
随着，近几年中国持续的电站建设浪潮，其新增发电量占到世界新增发电量的80%，而且有望在未来数年继续保持此种态势，投资银行瑞士信贷的Edwin Chen如是表示。而今年的新产能就已经超过巴西，意大利，英国现有产能之和，几乎与德国，法国持平。到2012年，中国电力年产能将超过现在世界第一位的美国。
Behind the transformation are myriad forms of government intervention. Although no country has a purely private market for electricity generation, in China the meddling is especially pervasive. Five big state-controlled utilities, including Huaneng and Datang, control 45% of the market and smaller state-controlled entities control another 50%. Most lost money in 2008, made fairly low returns in 2009, and, thanks to a government policy of holding down tariffs, are unlikely to be particularly profitable in the future.
这种转变背后是政府采取的各种行政干预。尽管世界上还没有一个国家的电力市场称得上完全私有化，但在中国，行政干预却尤其普遍。包括华能，大唐在内的五家大型国家控股电厂，其市场份额达到45%，其它小型的国家控股电厂市场份额为50%。绝大多数电厂在2008年亏损，09年亦收益平平，不过由于中国政府压低税率的作法，这些电厂在未来料盈利水平一般。
Nonetheless, again because of government directives, the utilities invest spectacular amounts in capital equipment, financed largely by cheap loans from state-controlled banks. This not only allows utilities in China to produce power more cheaply than those in other developing countries, but also does away with the uncertainty and delay of negotiating guarantees with international development outfits or bilateral export-credit agencies.
不只如此，因为政府指令，这些电厂借助从国家控股银行获取的低息贷款，大手笔购进固定设备。这不光使得中国的电厂可以凭借比其它发展中国家低得多的成本生产电力，同时不必担心市场的变化及与国际开发机构或双方的出口信用保险公司因为就保证条款谈判而可能造成的延迟。
The huge expansion of generating capacity serves many purposes, not least of which is bolstering national pride, especially in rural areas that, not long ago, were consigned to darkness after sundown. Officials are also aware that China's abundant power helps attract investors who are leery of the flickering industrialisation of other emerging markets. Cheap, reliable electricity is one reason why China remains the preferred destination for manufacturing even as its wages rise above those in such countries as Bangladesh, Indonesia, the Philippines and Vietnam.
急剧扩张的电力可以起到多方面作用，尤其重要的是这让中国"民族自豪感"大大提升，要知道还在不久前，中国的农村地区一到晚上还一片漆黑。同时官方也注意到中国的充沛电力帮助吸引了众多投资者，这些投资者对于其它新兴国家落后的电力设施心有疑虑。尽管中国的人工工资水平已经超过诸如孟加拉国，印度尼西亚，菲律宾，越南，但因为具有廉价，稳定的电力供应，中国仍然是外商青睐的生产基地。
This success has come at a cost. Cheap power has fuelled the expansion of energy-intensive heavy industries, such as steelmaking and aluminium smelting, which have made China more dependent on electricity than any other big economy (see chart). That, in turn, has left the Chinese economy ever more exposed to shifts in the prices of coal, oil and natural gas. It also turns China into an international environmental villain, thanks to its billowing emissions of greenhouse gases.
但这种成功是要付出代价的。廉价的电力促使能源密集型的重工业遍地开花，如钢铁制造，铝冶炼，这使得中国比其它经济大国更为依赖电力（见表）。反过来，这又使得中国经济更容易受煤炭，石油，天然气价格波动的影响。同时，因为排放大量的温室气体，中国在国际上又背负了"环境破坏者"的恶名。
Chinese officials, all too aware of these problems, have long been pushing expensive measures to develop alternative forms of generation and cut back on profligate power consumption. The use of power derived from coal will continue to grow in absolute terms (although new coal-fired plants are to be more efficient and cleaner), but its share of total Chinese output will fall from 75% to 65%, estimates Credit Suisse's Mr Chen. Hydropower will expand by more than half, but its share of the total will drop a bit, from 21% to 20%. Wind power will see a big expansion, taking its share from 3% to 7%, as will nuclear, up from 1% to 5%. The rest will come from such niches as solar panels and incinerators.
中国官方对此类问题早已心知肚明，并很早之前就付出巨大代价以寻求替代能源，并力图减少能源使用中的浪费现象。通过燃烧煤炭产生的电力产能，其绝对值将会继续增长（尽管火电厂发电效率会更高，也更清洁），但其占中国电力产出的比率将从75%降到65%,瑞士信贷的Mr. Chen做出上述预测。水力发电量将实现50%的扩张，不过其占电力输出的比率将小幅下降，即从21%降至20%。风力发电量亦会出现大幅增长，同时占电力产能的比率将从3%上升到7%，核电将从1%上升到5%。其它电力产能来自于诸如太阳电池板和垃圾焚烧等系列细分产业。
As with the provision of power in general, the government hopes to capitalise on this transition to spur economic development. Three more state-controlled firms―Shanghai Electric, Harbin Power Equipment and Dongfang Electric―already receive an inordinate number of contracts for electrical equipment from the state-owned generators. The huge volume of orders produces economies of scale which have allowed Dongfang, in particular, to earn spectacular returns.
在能源供给方面，中国政府希望借以促使能源转型达到刺激经济增长。之外三家国家控股公司，上海电力，哈尔滨能源设备和东方电力，业已获得国有电厂电力设备生产的无数订单，。金额巨大的订单形成规模经济，使得一些公司尤其是东方电力获取了丰厚回报。
Suzlon Energy, an Indian wind-turbine manufacturer, is largely blocked from selling into China's booming market. But it makes its turbines in China regardless because similar gains in efficiency, off the back of huge orders won by local firms, have led to very low component prices. Hong Kong-based CLP, one of the few non-local generators allowed to operate in China, says the cost of building power plants has dropped by half in the past decade, thanks mainly to falling equipment costs.
印度的苏司兰能源公司是一家风力涡轮机生产商，但不允许在将商品销往中国这个繁荣的市场。不过其确可以在中国本土生产，因为生产效率的提高（有赖于当地公司接到的大额订单），零部件成本价极低。总部设在香港的CLP公司是为数不多的非本土电力设备生产商。其表示，建造电厂的成本在过去的数十年里下降了一半。这主要归功于持续下降的设备成本。
When foreign suppliers are permitted to sell in China, they are usually required to transfer technology to local firms. China's massive expansion of nuclear power provides a good example. Over the next ten years the authorities plan to spend a trillion-odd yuan ($150 billion or so) to increase its capacity ninefold. The country has 21 nuclear reactors under construction―far more than any other country.
如果国外公司想在中国的电力领域从事销售，通常他们需要将技术转移至当地企业。中国不断扩张的核能就是极好的例子。之后的数十年里， 中国政府计划投资上万亿元（约合1500亿美元）以使核电产能增长8倍。中国现有21座在建核反应堆，该数字高于其它任何一个国家。
Naturally, China hopes to acquire lots of nuclear know-how along the way. Half the content of a unit of the Lingao plant, in Guangdong, where construction began in 2005 and is due to be completed at the end of this year, will be made at home; in the next unit, to be completed next year, the share of local content will be 70%. By 2020, China's goal is to build advanced reactors entirely by itself, and to export its prowess abroad. Chinese firms have already built one reactor in Pakistan, are working on another and plan two more. China is harnessing its hunger for electricity, in other words, to increase its economic power.
这样就不难理解，现在中国为什么渴望获得更多的关于核能的专业知识。中国广东省岭澳核电站的一期组件中有一半由国内制造，而预计下一年完工的二期工程组件中"中国制造"部分将达到70%。到2020年，中国的目标是完全自主建造核反应堆，并实现相关技术出口。中国已经在巴基斯坦修建了一座核反应堆，另有一座在建，另外计划再建两座。中国正在"善用"其对电力的强烈需求，换句话说，即达到增强其经济实力的雄心。
注：light, action 可能来自于直播节目时的指令。如：
Ok! Camera, recording and light, action！
来！摄影，录音，灯光，开始
疑问：
1.Capital equipment：字面理解就是资产设备。不过具体指代不明。猜想很可能是指大宗，金额高的机器设备？望达人指教。
2.but also does away with the uncertainty and delay of negotiating guarantees with international development outfits or bilateral export-credit agencies.
negotiating guarantees ?具体指的啥？
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