A Translation Project Report On The Urban Development Investment Corporations(UDICs) In Chongqing, China(Chapter 1-2)

In the process of China’s urbanization, the urban infrastructure is undergoing a critical period of change and development. The function transformation of central government,local governments, and urban development investment corporations(UDICs) becomes the focus of reform. The UDICs changed the role of government in the development of the urban infrastructure. The UDICs in China can learn from foreign organizations, in particular,the World Bank to implement reform and function transformation. Therefore the translation of the World Bank’s(WB) Investigation from English into Chinese is of practical significance for the self-improvement of the city. The financial sector, the local governments,and the UDICs in Chongqing fully support for the Technical Assistance Report(TAR). Most importantly, this report will advance the liability incorporation of the UDICs and its coordination with the government.The content of the translation report is about the WB’s analysis and recommendations for the technical development of the UDICs. The report presents the recent development of China’s infrastructure, China’s overall situation and the opportunities for Chongqing’s development. It analyzes the policy framework for the UDICs and offers suggestions for the reform. The report is an informative text, written by the commissioners of the Capital Research Institute of National Development and Reform Commission(NDRC) and Standard & Poor’s rating agencies. Through learning from others’ experience in urban development, we exert efforts to achieve function transformation and public-private partnerships to reach the ultimate goal for the public benefits in the course of urbanization.This translation project report places the social needs as priority for the city development.The report employs the Skopostheorie in which the target language must comply with the purpose of the translation. The theory aims to make the translation text closer to the understanding of the readers of the target language by means of additions, subtractions,conversion and so on. In the translation process, the work is under the guidance of the purpose principle and the loyalty principles. The assessment of a good translation can be made by the criteria of appropriation.