VOA慢速英語：七月——中國股市最波折的一月

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.

對中國股市投資商來說，上兩個月是波折不斷的月份。在那兩個月內，主要股票市場指數和保留股票市值的措施都有所下降。這使得許多人產生疑問：中國股市的困難對本國及其世界經濟的影響。

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，上海綜合指數下降超過8個百分點，這是八年來最嚴重的單日下滑。最近幾周，盡管政府采取一些措施防止股票過度下滑，但是股票指數仍在下降

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賣者。小額買賣者通過股票漲價時兜售股票從中獲利。

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.

中國金融證券有限公司周二表示，將繼續(xù)買進股票以穩(wěn)定股市。中國人民銀行也表示，將會向資金市場注入八億美元，這被認為是安全債務投資。

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.

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

Will it affect China’s economy and the world?

是否影響中國及世界經濟

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，中國股市與其經濟聯(lián)系不是那么緊密。美聯(lián)社有次報道了中國成都的西南財經大學的研究，研究中顯示，中國有8.8%的家庭投資市場，遠低于美國30%的家庭投資數量。

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.

中國市場上的許多上市公司都是國有企業(yè)。投資商都是根據政府調控措施和可用資金進行投資。這意味著公司發(fā)行的股票價格并不隨著公司的經濟運行狀況相變化。。

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個月里，中國股市盈利150個百分點。與此同時，中國經濟增長偏低。

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.

中國股市下降對世界股市影響有限。歐洲和亞洲股票指數在7月有所增長。但是，中國通過上海——香港股票聯(lián)合限制國外投資商購買股票。在中國，這意味著來自國外投資商的資金并不能輕易流進或流出。

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投資商對政府減少市場扶持的擔憂。

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)