VOA慢速英語(yǔ)：七月——中國(guó)股市最波折的一月

From VOA Learning English, this is the EconomicsReport.

The last two months have been difficult for investors in China’s stock markets. Major stock indexes, measuresthat track share values, all had big decreases duringthe month. This has many people questioning whatChina’s stock market problems mean for its economyand the world.

對(duì)中國(guó)股市投資商來(lái)說(shuō)，上兩個(gè)月是波折不斷的月份。在那兩個(gè)月內(nèi)，主要股票市場(chǎng)指數(shù)和保留股票市值的措施都有所下降。這使得許多人產(chǎn)生疑問(wèn)：中國(guó)股市的困難對(duì)本國(guó)及其世界經(jīng)濟(jì)的影響。

On July 27th, the Shanghai Composite index droppedmore than eight percent in value, its largest single-daydrop in eight years. In recent weeks, prices droppedalthough the government put a number of measures inplace to keep prices from falling too far.

7.27號(hào)，上海綜合指數(shù)下降超過(guò)8個(gè)百分點(diǎn)，這是八年來(lái)最嚴(yán)重的單日下滑。最近幾周，盡管政府采取一些措施防止股票過(guò)度下滑，但是股票指數(shù)仍在下降

Measures to stop falling prices

防止股票下降的措施

These included lending billions of dollars to stocktrading companies, having pension funds increase stock holdings and threatening short-sellers with legalaction. Short-sellers make a profit by trading stocks that are decreasing in prices.

這些措施有貸給股票交易公司百萬(wàn)美元、提高養(yǎng)老金的股票持有以及以合法舉措限制短期買(mǎi)賣(mài)者。小額買(mǎi)賣(mài)者通過(guò)股票漲價(jià)時(shí)兜售股票從中獲利。

The state China Securities Finance Corporation onTuesday said it will continue to buy stocks to "stabilize" the market. The People's Bank of China also said itwould place over $8 billion into money markets funds,which are considered safe debt investments.

中國(guó)金融證券有限公司周二表示，將繼續(xù)買(mǎi)進(jìn)股票以穩(wěn)定股市。中國(guó)人民銀行也表示，將會(huì)向資金市場(chǎng)注入八億美元，這被認(rèn)為是安全債務(wù)投資。

Companies have also cancelled plans to sell new shares on exchanges and, at one point, more than 1,400 companies requested that trading in theirshares be halted.

各個(gè)企業(yè)同樣取消了在股市上市新股票的計(jì)劃，幾乎同時(shí)，超過(guò)1.400家企業(yè)被要求暫停股市交易、

Will it affect China’s economy and the world?

是否影響中國(guó)及世界經(jīng)濟(jì)

However, China’s stock market is not closelyconnected to its economy. The Associated Press recently reported on a study by the SouthwesternUniversity of Finance in Chengdu, China. It said only 8.8percent of households in China are involved in themarket. That is much lower than the 30 percent ofhouseholds in the U.S. with investment in the market.

然而，中國(guó)股市與其經(jīng)濟(jì)聯(lián)系不是那么緊密。美聯(lián)社有次報(bào)道了中國(guó)成都的西南財(cái)經(jīng)大學(xué)的研究，研究中顯示，中國(guó)有8.8%的家庭投資市場(chǎng)，遠(yuǎn)低于美國(guó)30%的家庭投資數(shù)量。

Many of the companies listed on Chinese markets arestate-owned companies. Investors react to changes ingovernment regulations and to availability of financing for trading. This canmean that share prices do not follow the economic performance of thecompanies that issue them.

中國(guó)市場(chǎng)上的許多上市公司都是國(guó)有企業(yè)。投資商都是根據(jù)政府調(diào)控措施和可用資金進(jìn)行投資。這意味著公司發(fā)行的股票價(jià)格并不隨著公司的經(jīng)濟(jì)運(yùn)行狀況相變化。。

In the twelve months before June, China’s stock market measures gainedabout 150 percent. At the same time, China reported lower economic growthduring the same period.

在六月之前的12個(gè)月里，中國(guó)股市盈利150個(gè)百分點(diǎn)。與此同時(shí)，中國(guó)經(jīng)濟(jì)增長(zhǎng)偏低。

China’s share price drop has had a limited effect on stock exchanges aroundthe world. Stock indexes in Europe and Asia have had decreases in July. But,China limits the number of stocks that foreign investors can buy through a linkcalled the Shanghai-Hong Kong Stock Connection. In the case of China, thatmeans money from foreign investors cannot easily flow in or out.

中國(guó)股市下降對(duì)世界股市影響有限。歐洲和亞洲股票指數(shù)在7月有所增長(zhǎng)。但是，中國(guó)通過(guò)上海——香港股票聯(lián)合限制國(guó)外投資商購(gòu)買(mǎi)股票。在中國(guó)，這意味著來(lái)自國(guó)外投資商的資金并不能輕易流進(jìn)或流出。

Some experts say recent losses could be a sign that Chinese investors areworried that the government plans to reduce its support for the market.

一些專家表示，最近股市下降有可能表明中國(guó)投資商對(duì)政府減少市場(chǎng)扶持的擔(dān)憂。

I’m Mario Ritter.

Mario Ritter wrote this report with additional material from VOA’s WilliamGallo, Reuters and AP. Hai Do was the editor.

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Words in This Story

pension –n. a plan that provides pay to retirees from a company orgovernment which invests money taken from employers and employees

stabilize–v. to become less affected by change or movement; to becomemore stable

households –n. people of one family who are living together

issue–v. to release, give out or sell (example: company officials issued thestock)