Third, is the replacement of capital is far less than the shares of listed companies.

第三，是资本置换，远高于上市公司的股票较少。

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Capital replacement of labor depends on technical factors and changes in relative prices, and it is the inevitable process in a country's industrialization.

资本替代劳动取决于技术因素和两者相对价格的变化，是一国工业化阶段必然经历的过程。

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The expenditure may be for purpose of replacement depreciated capital or for creating new capital.

这项开支可用于补偿被折旧的资本，也可以用于建立新的资本。

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As the hard disk drive and drive component companies start to get back into their factories to access the damage there will undoubtedly be a lot of facility cleanup and repair and likely replacement of some expensive capital equipment particularly when this equipment was on the first floor of a flooded building.

FORBES: Capital Equipment Likely Needed for Thailand HDD Factory Repairs

While venture debt can be an important tool at any stage of development, it is not and should never be seen as the primary source of capital or a replacement to equity provided by the venture capital or private equity.

FORBES: Back to the Future: How To Fund A 21st Century Startup

By buying the property at a fraction of its replacement cost, the KKR venture will have capital to invest in building space for new tenants.

WSJ: Deal of the Week: KKR Catches KC Legends