【09.06.29 CNN】中国放松股票发行限制

忧心

【中文标题】中国放松股票发行限制
【原文标题】China eases restrictions on flotations
【登载媒体】美国有线电视新闻网（CNN）
【来源地址】http://edition.cnn.com/2009/BUSINESS/06/29/china.ipo/index.html
【译者】忧心
【翻译方式】人工
【声明】本翻译供Anti-CNN使用，未经AC或译者许可，不得转载。
【原文库链接】http://bbs.m4.cn/thread-176990-1-1.html
【译文】


Guilin Sanjin Pharmaceutical hopes to raise $133 million with its flotation.
桂林三金药业集团希望通过发行股票筹资一点三三亿美元（译者：即4600万股×19.80元／股=九十一亿零八十万元）。

HONG KONG, China (CNN) -- One of the world's hottest spots for raising capital is back in business.

（有线电视新闻网，于中国香港）-- 世界上投资的最热门地区之一强势回归。

Ten months after halting initial public offerings, or flotations, on Chinese bourses, the government has cleared the way for Guilin Sanjin Pharmaceutical, a maker of traditional Chinese medicines, to list on the Shenzhen exchange. The company plans to raise $133 million with the IPO, which offered subscriptions to retail investors Monday.

暂停中国证券交易所的首次公开募股（IPO，即初始股发行）十个月后（译者：中国媒体一般称九个月），政府为桂林三金药业扫清了列入深交所上市公司名单的障碍。桂林三金药业是一家传统中药制造商。该公司计划通过首次公开募股筹资一点三三亿美元，从周一起供个人投资者申购。

The move is good news for global investors, said Jerry Lou, China strategist for Morgan Stanley. "Right now, the investment community is running out of choices. ... Money is running out of targets," he said.

摩根士丹利（Morgan Stanley）中国股票策略师娄刚（Jerry Lou）认为，这一举措对全球投资者来说都是个好消息。 “现在，投资界的选择越来越少，……金钱正在失去目标。”他说。

Global interest in China's moves to reopen its IPO market underlines the growing importance of developing economies to world capital markets. The biggest IPO this year was last week's listing of VisaNet in Brazil, which raised $4.27 billion on the Sao Paulo stock exchange.

针对中国重启初始股市场的举措，全球投资者着重指出发展中经济体对世界资本市场的重要性日益增加。今年最大的一宗首次公开募股，是上周维萨信用及借记卡收单机构（VisaNet）在巴西圣保罗证券交易所的上市，融资规模达四十二亿七千万美元。

Before that, the year's top IPO was China Zhongwang, which raised $1.2 billion when it listed on the Hong Kong stock exchange in April.

此前，年度最佳新股应属中国的中网通讯，它今年四月在香港联交所上市，上市金额十二亿美元。

The biggest IPO on Wall Street this year was the listing of Mead Johnson, maker of Enfamil baby food, which raised $828 million on the New York Stock Exchange in February.

华尔街今年最大的首次公开募股是今年二月安婴儿（Enfamil）婴儿食品的制造商美赞臣在纽约证券交易所的上市，上市金额为八亿二千八百万美元。

"Over time, the relevance of Wall Street will definitely decrease," Lou said. "It used to be that Wall Street made the rules and everyone played by those rules. ... After the financial crisis, I think you will see a multipolar financial world."

“随着时间的推移，华尔街的关键地位肯定会降低，”娄刚说，“过去，华尔街制定规则，每个人都遵守规则。 ……金融危机后，我想你会看到一个多极的金融世界。 ”

Global investors are looking for good news in the anemic IPO market. So far this year, global IPOs are down 85 percent compared with the same period last year, according to Thomson Reuters. Last year, top global IPOs were for credit card processor Visa and China Railway Construction, which raised $19.7 billion and $5.7 billion, respectively.

全球投资者正在贫血的初级股市场中搜寻好消息。据路透社消息，到目前为止，今年全球的初级股发行较去年同期下降了85%。去年，全球两宗最大的初级股发行当属信用卡系统维萨和中国铁道建筑总公司，融资金额分别为一百九十七亿美元和五十七亿美元。

Although the IPO market in China declined last year with the plunging stock markets, China led the world in IPOs, with 127 deals raising $17.9 billion, according to Ernst & Young.

虽然去年中国的初始股市场随着股市的上扬反而出现下降，安永会计师事务所的统计数据表明，中国仍以一百二十七次交易及一百七十九亿美元的上市金额领先于世界初级股市场。

The Chinese government is easing restrictions on IPOs partly to give companies more access to capital in the wake of the financial crisis and China's stimulus package.

中国政府正在部分放宽对首次公开募股的限制，使公司得以在金融危机和政府经济刺激计划里获得更多的资本。

"China has a $4 trillion economy and has (public and private) loans out of $1 trillion," Lou said. "Its loan book is out of balance."

“中国有四万亿美元的经济刺激计划，却有一万亿美元的（国有和私有）贷款，”娄刚说。“借贷表变得不平衡了。”

A restart of IPOs is also essential if China is to position itself as a global financial center, which eventually will mean allowing foreign firms to list on Chinese bourses.

如果中国想让自己成为一个全球性的金融中心，重启首次公开募股也很重要。最终，这将意味着允许外国公司在中国上市。

Right now, foreign firms are not allowed to list on the Shanghai and Shenzhen stock exchanges. "Before they do that, they need to clear the pipeline of domestic firms," Lou said.

现在，外国公司还不能在上海和深圳的证券交易所上市交易。“他们想那么干之前需要与中国国内企业建立关系。”娄刚说。

译者个人允许在给出出处、宣传AC的情况下转载译文。