青島希尼爾翻譯公司（theheretical.com）整理發(fā)布2016-01-08

希尼爾翻譯公司（theheretical.com）2016年1月8日了解到：A new year usually implies a fresh start, a chance to set things right, and begin anew.
　　新的一年通常意味新的開端，有機會去改正，一切將從頭開始。
　　For Chinese shares though, the first trading session of 2016 has resulted in more of the same.
　　然而，對于中國股市來說，2016的第一個交易日卻沒有任何讓人期待的新氣象。
　　More panic, more pessimism and more people selling their shares because of - well frankly, other people selling their shares.
　　恐慌上升，悲觀加劇，更多的人在拋售他們的股票，只是因為——坦率地說，因為其他人在拋售他們的股票。
　　So why did Chinese shares fall by 7% today, causing trading to be halted? And what does it say about confidence in the Chinese market and more importantly - the economy?
　　那么，為什么今天的股市會暴跌7%，導致暫停交易至收市？對于中國股市，乃至中國經(jīng)濟的信心，有什么樣的暗示？
　　Here are four things you should know about the stock market falls in China today:
　　對于今天中國股市的下跌，你必須知道以下四點：
　　Weaker manufacturing data
　　疲軟的制造業(yè)數(shù)據(jù)
　　This was what most analysts said was the reason behind why shares fell. Manufacturing data contracted again - for the tenth straight month. The figures are further demonstration of the ongoing narrative about China’s economy, that state led investment into manufacturing is slowing down and that the economy is transitioning into services. China releases services data on Wednesday - which should show things are improving.
　　它是多數(shù)分析家認為今天股市下跌的原因。制造業(yè)數(shù)據(jù)繼續(xù)衰退——連續(xù)第10個月，這個數(shù)據(jù)進一步說明了中國經(jīng)濟當前的局面。由國家主導的對制造業(yè)的投資放緩，經(jīng)濟已過渡到以服務業(yè)為主。星期三將發(fā)布服務業(yè)數(shù)據(jù)——應該能顯示出情況正在轉好。
　　Circuit breakers come into effect
　　融斷機制正式生效
　　This was the first day that China’s new "circuit breaker" came into effect, and that’s why when shares plunged by 5% trading was halted by 15 minutes, and then when trading resumed, and shares continued to fall by 7% trading was suspended altogether. The measures were created last year after the stock market crash in China, but only came into effect today. Circuit breakers in themselves aren’t unusual - lots of countries have them for individual stocks, or for a few minutes - but it is unusual to stop trading altogether for a share fall of 7%. An indication perhaps of just how much the authorities want to avoid another crash.
　　星 期一正是中國新的“融斷機制”生效的第一天，這就是為什么當大盤下跌5%時交易暫停了15分鐘，然后，當交易恢復，大盤持續(xù)走低，當?shù)?%時兩市交易全 部暫停至收市。這個機制是去年中國發(fā)生股災后引入的，卻在1月4日正式啟用。融斷機制本身并沒有什么特別——有很多國家已經(jīng)將其用于個別股票，或者交易中 的幾分鐘暫停，不尋常的是，當大盤跌至7%時，全天所有交易停止。這可能是政府想要避免出現(xiàn)下一個股災的跡象。
　　Yuan weakens again
　　人民幣再次走軟
　　There was a sharp depreciation in the yuan just ahead of the plunge in Chinese shares. China cut the yuan’s value against the dollar, making it weaker than 6.5 for the first time in more than four-and-a-half years. There’s speculation that the People’s Bank of China has abandoned trying to hold the yuan up against the dollar, which means it’s signalling that it won’t step in to shore up the yuan. There are concerns that this indicates money is flowing out of China, and that the fall could get out of control. Some investors may be worried about what would happen if the yuan continues to weaken - and the fact that policy makers are allowing it to weaken shows they’re concerned about the economy’s outlook too.
　　在中國股市大盤跳水前，人民幣曾急劇貶 值。中國下調(diào)了人民幣對美元匯率，使其在長達4.5年的時間里首次降至6.5以下。有人猜測，中國央行或已放棄人民幣匯率"死釘"美元，這意味著它將不會 再介入以支撐人民幣。還有人擔心，這表明資金正在流出中國，這種下降的走勢可能會失控。一些投資者可能在擔心，將會發(fā)生什么情況，如果人民幣持續(xù)走軟—— 以及決策者允許它走軟，表明他們也在擔心中國經(jīng)濟的前景。
　　People are selling because people are selling
　　人們拋售是因為人們在拋售
　　There’s nothing like the herd mentality to get things started for the new year. Retail investors in the Chinese stock market are often driven by sentiment and tend to follow the crowd. When they hear of some bad news from brokers or their friends, and other people start selling - they start selling too. Falling prices attract more people to dump their stocks, and although shares are still above their lows, authorities will be keen to avoid the kind of share market crash we saw last summer.
　　沒 有任何事情像從眾心理一樣，在新的一年就又這樣開始了。中國股市的散戶往往容易受情緒所驅動，而且喜歡隨大流。當他們從經(jīng)紀人或者朋友那里聽到一些不利消 息，看到其它人在拋售股票，——他們也開始拋售。價格下跌吸引更多的人拋售他們的股票，盡管股價仍高于低點，政府已在竭力避免去年夏天的那種股災再次出 現(xiàn)。
　　So what do today’s falls tell you about the fate of the Chinese economy in 2016? Well, nothing you didn’t know already. China is slowing down, people are nervous and that means volatile trading for the rest of the year.
　　因此，今天的大盤跳水，告訴你了2016年中國經(jīng)濟的什么命運呢？其實，你什么都清楚。中國經(jīng)濟正在放緩，人們都很焦慮，這預示了2016全年的震蕩行情。
　　Happy New Year everyone. If the first day of trading is anything to go by, it is definitely going to be an interesting one.
　　祝大家新年快樂。如果新年里第一個交易日就能預示全年的行情，定下全年的基調(diào)，那一定會是非常有趣的。
　　來源:BBC 雙語新聞