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The country still attracts more venture capital than any other in Europe. London is an asset in this regard.If your ambition is to build a globally relevant technology company, it helps to start it in a global city. Berlin is cool and cheap, but lacks a world-class university. Paris is pretty, but French labour laws are a pain. London can be an easier place for the footloose entrepreneur to settle-though a lot rests on how post-Brexit visa schemes work.
Where Britain has fallen down is in turning fledgling companies into listed world-beaters.Promising startups reach a certain stage of maturity only to hit a brick wall in terms of funding. They are still too small to be listed, so need private funds to grow. But by and large the bigger cheques are written by American venture-capital firms. Once the board is packed with Americans, it is natural for them to seek an American exit from their investment-either a sale to a bigger company or a listing on the Nasdaq. Many British entrepreneurs are resigned to selling to a foreign buyer.
A recent government-backed review, led by Ron Kalifa, a fintech entrepreneur, proposes a series of reforms to encourage British listings. They include changing London's listing rules to allow for dual classes of shares and smaller free-floats of stock-terms that are offered by New York and Hong Kong. There is also a proposal for a specialist growth-capital fund for pre-IPO businesses, backed by British asset managers. The goal is to turn vicious cycle into a virtuous one, says Ms Glover. The more tech firs list in Britain, the more local analysts and asset managers will take an interest in them, encouraging further listing.
When Britain says it is“open for business”, it is taken to mean that its most promising firs are available to be gobbled up by foreign bidders. If there were local alternatives to such deals, its public markets might begin to look more attractive.
Decline might even be reversed.In any event, though, the gloom has gone far enough.
The case against sterling assets is oversold.
3.Why don't people want to build a company in Berlin?
A.Because the labour laws are too strict in Germany.
B. Because it's hot and the rent is expensive in Berlin.
C.Because there is no world-class university in Berlin.
D. Because the scenery of Berlin is not attractive.
4.What problem does Britain have?
A.It's hard for British companies to be listed.
B. British companies are controlled by Americans.
C.It's hard for British companies to get profit.
D. British companies are always investing the wrong ways.
5.What will British do if there are too many Americans on the board?
A.They may broaden their business scope.
B. They may kick Americans out of the board.
C.They may buy shares from those Americans.
D.They may sell their company to others.
6.Which is Not one of the reforms in the government-backed review?
A.Changing the listing rules in London.
B. Providing the enormous free-floats of stock.
C.Allowing for dual classes of shares.
D.Establishing a special growth-capital fund.
7.What does“open for business”mean?
A.Some promising British firms can develop themselves in other countries.
B. Some promising British firms can attract foreign investment.
C.Some foreign companies can ignore government policies in the UK.
D.Some foreign companies can annex promising British companies.
3.C 【解析】根据第一段中If your ambition is to build a globally relevant technology company, it helps to start it in a global city. Berlin is cool and cheap, but lacks a world-class university.可知人们不想在柏林建立公司是因为柏林没有世界一流的大学。故选C。
4.A 【解析】根据第二段第一句Where Britain has fallen down is in turning fledgling companies into listed world-beaters. Promising startups reach a certain stage of maturity only to hit a brick wall in terms of funding. They are still too small to be  listed, so need private funds to grow.(英国的失败在于将羽翼未丰的公司转变为世界一流的上市公司。有前途的初创公司达到了一定的成熟阶段,却在融资方面碰壁。它们的规模仍然太小,无法上市,因此需要私人基金来成长。)可知英国的问题在于英国公司很难上市,故选A。
5.D【解析】根据第二段中的Once the board is packed with Americans, it is natural for them to seek an American exit from their investment-either a sale to a bigger company or a listing on the Nasdaq.(一旦董事会挤满了美国人,他们自然会寻求 美国人退出他们的投资--要么出售给更大的公司,要么在纳斯达克上市。)可以推出,如果董事会里有太多的美国人,英国人可能会把公司卖给别人,故选D。
6.B 【解析】根据第三段中They include changing London's listing rules to allow for dual classes of shares and smaller free-floats of stock-terms that are offered by New York and Hong Kong. There is also a proposal for a specialist growth-capital fund for pre-IPO businesses, backed by British asset managers.(其中包括改变伦敦的上市规则,允许实行双重股权结构,以及纽约和香港提供的规模较小的自由上市条款。 还有一项提议是,在英国资产管理公司的支持下,为上市前的企业设立专门的增 长资本基金。)可知,改革措施包括ACD 三项,故选B。
7.D 【解析】根据最后一段第一句When Britain says it is“open for business”, it is taken to mean that its most promising firms are available to be gobbled up by foreign bidders.当英国说自己“对商业开放”时,意思就是它最有前途的公司可以被外 国竞购者吞并,即一些外国公司可以吞并有前途的英国公司,故选D。

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