Chinese financial officials have started a global roadshow topersuade foreigners to invest in the country’s stock market, ahighly unusual move that reflects concerns that investors areturning their backs on China as its economy slows.
中國(guó)金融官員展開了一場(chǎng)全球“路演”,勸說(shuō)外國(guó)投資者投資中國(guó)股市,這一非同尋常的做法反映出有關(guān)方面對(duì)投資者隨著中國(guó)經(jīng)濟(jì)放緩而紛紛撤離的擔(dān)憂。
Officials from the Shanghai and Shenzhen stock exchanges are touring Europe, the US and Japanto meet institutional investors, according to three people briefed on the program.
三位消息人士指出,上交所和深交所的官員們正在歐洲、美國(guó)、日本訪問(wèn),會(huì)晤機(jī)構(gòu)投資者。
The attempt to drum up interest in China’s markets is a remarkable U-turn from just a couple ofyears ago when Beijing restricted overseas investors under a strict quota system, worried theywould swamp China with cash.
這一鼓動(dòng)人們對(duì)中國(guó)市場(chǎng)感興趣的努力是一個(gè)巨大的轉(zhuǎn)變,就在兩年前,中國(guó)政府還通過(guò)嚴(yán)格的配額體系來(lái)限制海外投資者,擔(dān)憂外資洪流沖擊中國(guó)。
Foreign institutions were allowed to invest a combined total of no more than $30bn in China’scapital markets until April this year when the limit was lifted to $80bn. The securities regulatorhoped the higher ceiling would lead to a big jump in applications from investors, but it has beensurprised by the relative quiet, according to a government adviser.
在今年4月份之前,外國(guó)機(jī)構(gòu)在中國(guó)的投資最多不能超過(guò)300億美元,4月份這一限制被提高到了800億美元。一位政府顧問(wèn)表示,證券監(jiān)管機(jī)構(gòu)本來(lái)預(yù)計(jì),較高的上限會(huì)帶來(lái)大量的投資申請(qǐng),但相對(duì)冷清的狀況令其吃驚。
“They think it is mainly because of the global economic slowdown, but they also think that China’sown growth prospects are having an impact,” he said. Even before the economy’s currentslowdown, Chinese shares had been among the world’s worst investments.
他說(shuō):“他們認(rèn)為這主要是因?yàn)槿蚪?jīng)濟(jì)放緩,但認(rèn)為中國(guó)自身的增長(zhǎng)前景也有影響。”即使是在中國(guó)經(jīng)濟(jì)此輪放緩之前,中國(guó)股票也是世界最糟糕的投資之一。
The Shanghai Composite Index, the country’s main stock index, dropped 14 per cent in 2010 and 23 per cent in 2011. It has retreated a further 6 per cent this year.
2010年,中國(guó)主要股指上證綜指下跌14%,2011年跌幅為23%,今年迄今進(jìn)一步下跌6%。
Foreign investors and analysts say that a big part of the problem is that China’s stock marketoperates like a rigged casino, with rampant insider trading and weak corporate governance. GuoShuqing, who was appointed China’s chief securities regulator late last year, has set out to reformthe country’s markets.
外國(guó)投資者和分析師表示,主要的問(wèn)題是,中國(guó)股市就像一個(gè)受到操縱的賭場(chǎng),內(nèi)幕交易猖獗,公司治理不力。去年被任命為中國(guó)證監(jiān)會(huì)主席的郭樹清已著手對(duì)中國(guó)股市進(jìn)行改革。