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 DEVELOPMENT OF CHINA'S INDUSTRY |
| From the view of translation prices throughout China translation market, as demonstrated by price announcements of Guangzhou, Shanghai and Beijing, prices in southern China basically paralleled with those in northern China. Minor languages in Beijing take advantages, which has something to do with language configuration of language schools in areas like Guangzhou. |
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| STATUS OF FOREIGN INVESTMENT |
| According to people in the translation industry, a translation company¡¯s main cost lies in labor cost, and its operating cost is low. Translation companies usually claim that their profit rate is around 30%, but the profit rate is actually higher than that. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| China made a commitment upon its entry into the WTO that interpretation and translation services could "only be provided through joint ventures, and foreign investors are allowed to hold majority stock right." As far as translation industry is concerned, foreign investors can form joint ventures and have controlling interest thereafter. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| Experts believe the translation industry should be regulated from three aspects: translation service providers, translation process and products. Translation service providers refer to either independent translation workers or translation companies. Translation process means a series of procedures in creating target texts corresponding to source texts. |
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