资本支出

资本支出是2002年的三倍。

Capital expenditure was treble the 2002 level .

资本支出可以靠借款，而运营费用不行。

Capital expenditure can be financed by borrowing ; operating expenditure should not .

事实上，依照过去的经验，许多生产国(包括美囯)石油生产部门的资本支出已大幅下降。

In   fact ,   in   line   with   past   experience ,   capital   expenditure   in   the   oil   sector   has   dropped   sharply   in   many   producing   countries ,   including   the   United   States .

绝对战略研究中心（AbsoluteStrategyResearch）的大卫•鲍沃斯（DavidBowers）认为“相对于目前的消费水平，资本支出，存货以及就业实在是太低了”。

" Capital spending , inventories and jobs are too low given the level of consumption ," he argues .

大约有三分之一的受访CEO计划在未来六个月增加公司的资本支出。

About a third of them plan to increase their companies'capital spending during that time .

3G技术最终得以部署，这将带来巨额资本支出。

Third generation technology is , finally , being ramped up and with it big capital expenditure .

瑞士信贷（CreditSuisse）现在预期，中国的资本支出将降低大约25%，降幅几乎比此前的预测大了1倍。

Credit Suisse now expects capex in China to fall about 25 per cent , almost double its previous assumption .

作为竞争对手之一的中国联通（chinaunicom）下跌7.3%，收于12.24港元，因为投资者担心其资本支出计划可能过于激进。

One of those competitors , China Unicom fell 7.3 per cent to HK $ 12.24 as investors feared that its capital spending plans might be too aggressive .

中国移动与中国第二大运营商中国联通（ChinaUnicom）今年均削减了资本支出，使得爱立信在其仅次于美国的第二大市场面临压力。

China Mobile and China Unicom , the number-two operator , have both cut capital expenditure this year , putting Ericsson under pressure in its biggest market after the US .

与此同时，酝酿已久的摆脱过度资本支出（2012年为GDP的48%）的政策正开始实施。

At the same time , the long-discussed swing away from excessive capital spending ( 48 per cent of 2012 GDP ) is now beginning .

分析人士指出，期待已久的3G时代虽然已经来临，但是经济下滑、资本支出剧增以及不断升级的竞争局面却意味着中国的电信行业目前正处于螺旋下降状态。

And intensifying competition , means China 's telecom industry is now on a downward spiral despite the arrival of the long-anticipated3G-era , analysts said .

埃克森美孚像一艘超级油轮一样扬帆前进，而荷兰皇家壳牌石油公司（RoyalDutchShell）已经宣布今年适度削减资本支出，该公司表示，这不是反应过度。

Exxon cruises onward like a supertanker and Royal Dutch Shell has announced only modest cuts to capital expenditure this year , saying that it is not overreacting .

上周，日本消费电子巨头索尼（sony）在将营运利润预期下调57%后，宣布将削减资本支出。

Sony said last week that it would cut capital expenditure after the Japanese consumer electronics giant slashed its operating profit forecast by 57 per cent .

中石油预计，今年的资本支出将为240亿美元，超过了埃克森美孚（ExxonMobil）。

PetroChina expects to spend $ 24bn on capex this year – more than ExxonMobil .

中石化（Sinopec）已成为最新一家削减资本支出的大型石油公司，原油价格暴跌导致该集团2014年利润下滑近三分之一。

Sinopec has become the latest oil major to cut capital expenditure , with the crude slide knocking nearly a third off its 2014 profit .

去年，Facebook的资本支出为收入的30%，达10亿美元，上季度更是达到总收入的近一半。

Capital expenditures amounted to 30 per cent of revenues , or $ 1bn , at Facebook last year , and chewed up nearly half of revenues in the most recent quarter .

这意味着，随着增长放缓以及折旧赶上其真正的资本支出水平，AWS的利润率将出现收缩。

This means that profit margins will shrink for AWS as growth slows and depreciation catches up to its true capex levels .

自从中国2009年1月开始发放第三代移动服务牌照以来，三大国有电信运营商加大了资本支出力度，并从各大城市开始，大举铺设3g网络。

After China handed out licences for third-generation mobile services in January 2009 , its three state-owned telecoms operators cranked up capital expenditure and rolled out 3G networks , starting in major cities .

哈佛大学（HarvardUniversity）教授迈克尔礠森（MichaelJensen）后来批评企业集团存在“数十亿非生产性的资本支出和组织效率低下现象”，赞扬了企业朝着“更小、更集中、更高效”的方向演变的趋势。

Michael Jensen , a Harvard professor , later criticised the " billions in unproductive capital expenditures and organisational inefficiencies " at conglomerates , praising the trend toward " smaller , more focused , more efficient " enterprises .

随着资本支出的驼峰成为过去，现金流将大幅改善，券商桑福德伯恩斯坦（SanfordBernstein）在一份简报中表示。

Cash flow will improve dramatically as the capex hump is now behind us , said Sanford Bernstein , the brokerage , in a note .

然而，由于债务重新攀升，EDF近几个月来被迫大幅削减成本，包括削减资本支出。

However , the company has been forced in recent months to embark on heavy cost-cutting , including reductions to capital spending as debt has spiralled again .

这家移动运营商去年的收入增幅达到16%，其ebitda也首次超过了资本支出。

Revenues at the mobile operator picked up 16 per cent last year and EBITDA surpassed capital expenditure for the first time .

2007年，在销量增长放缓之时，台湾厂商仍在竞相建造规模更大的工厂，几乎占到全球dram资本支出的一半。

In 2007 , as volume growth slowed , Taiwanese vendors were still racing to build bigger factories , accounting for almost half of global DRAM capital spending .

但中国移动现在才建立自己的4G网络，今年必须为此投入750亿元人民币，使全年资本支出总额增加五分之一，达到2252亿元人民币。

But China Mobile is only now building its 4G network - a task that necessitates spending Rmb75bn this year , which would bring total capital expenditure up by a fifth to Rmb225.2bn .

分析人士称，中国电信企业之资本支出需求很大，而且还要考虑3G问题，这加大了中国企业进一步向类似SKT等投资者筹资之可能性。

Analysts said Chinese telecom companies had large capital expenditure demands and still had to account for3G , raising the prospect that investors such as SKT would be tapped for further funds .

上周公布的官方采购经理指数（PMI，一项衡量工业活动的指标）显示，中国制造业再次增长，尽管大部分增长来源于国内投资和资本支出。

The official purchasing managers ' index , a measure of industrial activity , last week indicated the manufacturing sector was growing again – though much of the growth came from domestic investment and capital spending .

由于这些都是比较新的技术，所以大多数企业需要利用现有资源进行测试，之后再进行大量的资本支出（CapEx）。

As these technologies are fairly new , most organizations will want to test them with existing resources before realizing a significant capital expenditure ( CapEx ) .

中海油（Cnooc）周二宣布今年削减10%以上的资本支出并减少石油产量，以此回应原油价格暴跌。

China 's Cnooc on Tuesday set out plans to cut capital spending by more than 10 per cent this year and reduce oil production , as it responds to the crude price rout .

美国第二大石油公司雪佛龙（Chevron）上周宣布了公司迄今为止规模最大的资本支出&明年预计投资260亿美元，较2010年增长20%。

Chevron , the second largest US oil company , announced last week its biggest ever capital expenditure , budgeting $ 26bn for next year , up 20 per cent from 2010 .

摩根大通（JPMorgan）大宗商品研究主管科林芬顿（ColinFenton）警告称，在铁矿石价格暴跌之后，矿商纷纷推迟资本支出计划，因此预测大宗商品超级周期结束变得流行起来。

Colin Fenton , head of commodities research at JPMorgan , warned that it had become fashionable to predict the end of the commodities supercycle because of the capex deferrals that followed the collapse in iron ore prices .