2021年经济学人 中国政府加大市场监管，教培与科技巨头股票暴跌

The world this week - Business

本周国际要闻——商业

The Chinese government widened its crackdown on businesses that don’t toe the Communist Party’s line, targeting private tutoring, an industry worth $100bn in revenue, which it decreed can now only operate without profit.

中国政府加大了对不遵守党路线的企业的打击力度，将目标对准了教育培训行业。这是一个价值1000亿美元的行业，政府规定，该行业现在只能无利润运营。

Foreign investment will be restricted, no new licences issued, and curbs¹ on teaching hours introduced.

外国投资将受到限制，不再发放新的执照，并引入对教学时间的限制。

The constraints² are harsher in tone than those imposed on the tech industry, but Chinese tech stocks swooned as investors³ wondered whether a broader clampdown was on the cards.

这些限制比科技行业受到的限制更加严厉，但由于投资者不确定是否有可能出台更广泛的打击措施，中国科技股暴跌。

Tencent’s share-price fall was among the steepest; it shed a sixth of its value.

腾讯的股价跌幅是最大的，市值缩水了六分之一。

The Chinese tech giant has suspended new registrations⁵ on its WeChat social network while it upgrades the platform to comply with the government’s latest edicts for the industry.

这家中国科技巨头暂停了微信社交网络的新注册，同时对该平台进行升级，以符合政府对行业的最新规定。

SoftBank is reportedly selling about a quarter of the stake it holds in Uber to offset⁶ the heavy losses from its holding in Didi Global, China’s biggest ride-hailing company.

据报道，软银正在出售其在优步所持股份的四分之一，以抵消其在滴滴全球所持股份的巨额亏损。滴滴是中国最大的打车公司。

Didi’s market value slumped⁷ when Chinese regulators targeted it for investigation⁸ recently.

当中国监管机构最近针对滴滴进行调查时，该公司的市值暴跌。

Meanwhile, China’s securities regulator approved a secondary listing of shares by state-owned China Telecom on the Shanghai stockmarket, which could raise $8.4bn.

与此同时，中国证券监管机构批准了国有企业中国电信在上海股市进行二次上市，可能融资84亿美元。

Zomato’s IPO was a roaring success in Mumbai.

Zomato的首次公开募股在孟买取得了巨大成功。

The food-delivery app is the first of several tech firms in India to whet⁴ investors’ appetite with a market flotation.

这款送餐应用是印度几家科技公司中第一家通过上市来刺激投资者胃口的公司。

Paytm, a fintech firm, is next.

金融科技公司Paytm将是下一个。

Both it and Zomato count Jack⁹ Ma’s Ant Group among their backers.

它和Zomato都将马云的蚂蚁集团列为赞助者之一。

Robinhood, a trading app used by hordes¹⁰ of small investors to buy and sell stocks, not least the “meme” variety, priced its shares at the lower end of its target range ahead of its debut¹¹ on the Nasdaq stockmarket.

Robinhood是一款交易应用程序，许多小投资者使用它来买卖股票，尤其是“meme”股票。在纳斯达克上市前，Robinhood将其股票定价在目标区间的低端。

The unconventional broker¹² has taken an unconventional approach to an IPO, eschewing¹³ the usual boardroom presentations to institutional investors and selling a third of its shares to its customers.

这家非传统券商采取了一种非常规的IPO方式，避免向机构投资者进行通常的董事会演示，并将三分之一的股份出售给客户。

1 curbs   

v.限制，克制，抑制( curb的第三人称单数 )

参考例句：

• In executing his functions he is not bound by any legal curbs on his power. 在他履行职务时，他的权力是不受任何法律约束的。 来自辞典例句
• Curbs on air travel were being worked out and would shortly be announced. 限制航空旅行的有关规定正在拟定中，不久即将公布。 来自辞典例句

2 constraints   

强制( constraint的名词复数 )； 限制； 约束

参考例句：

• Data and constraints can easily be changed to test theories. 信息库中的数据和限制条件可以轻易地改变以检验假设。 来自英汉非文学 - 科学史
• What are the constraints that each of these imply for any design? 这每种产品的要求和约束对于设计意味着什么？ 来自About Face 3交互设计精髓

3 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

4 whet   

v.磨快，刺激

参考例句：

• I've read only the fIrst few pages of her book,but It was enough to whet my appetIte.她的书我只看了开头几页，但已经引起我极大的兴趣。
• A really good catalogue can also whet customers' appetites for merchandise.一份真正好的商品目录也可以激起顾客购买的欲望。

5 registrations   

n.登记( registration的名词复数 )；登记项目；登记（或注册、挂号）人数；（管风琴）音栓配合（法）

参考例句：

• In addition to the check-in procedures, the room clerks are customarily responsible for recording advance registrations. 除了办理住宿手续外，客房登记员按惯例还负责预约登记。 来自辞典例句
• Be the Elekta expert for products registrations in China. 成为在中国注册产品的医科达公司专家。 来自互联网

6 offset   

n.分支，补偿；v.抵消，补偿

参考例句：

• Their wage increases would be offset by higher prices.他们增加的工资会被物价上涨所抵消。
• He put up his prices to offset the increased cost of materials.他提高了售价以补偿材料成本的增加。

7 slumped   

大幅度下降，暴跌( slump的过去式和过去分词 )； 沉重或突然地落下[倒下]

参考例句：

• Sales have slumped this year. 今年销售量锐减。
• The driver was slumped exhausted over the wheel. 司机伏在方向盘上，疲惫得睡着了。

8 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

9 jack   

n.插座，千斤顶，男人；v.抬起，提醒，扛举；n.（Jake）杰克

参考例句：

• I am looking for the headphone jack.我正在找寻头戴式耳机插孔。
• He lifted the car with a jack to change the flat tyre.他用千斤顶把车顶起来换下瘪轮胎。

10 hordes   

n.移动着的一大群( horde的名词复数 )；部落

参考例句：

• There are always hordes of tourists here in the summer. 夏天这里总有成群结队的游客。
• Hordes of journalists jostled for position outside the conference hall. 大群记者在会堂外争抢位置。 来自《简明英汉词典》

11 debut   

n.首次演出，初次露面

参考例句：

• That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。
• The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。

12 broker   

n.中间人，经纪人；v.作为中间人来安排

参考例句：

• He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
• I'm a real estate broker.我是不动产经纪人。

13 eschewing   

v.（尤指为道德或实际理由而）习惯性避开，回避( eschew的现在分词 )

参考例句：

• The company sells direct to customers, eschewing distributors, re-sellers, and dealers. 公司直接向客户销售，避开批发商、分销商和经销商。 来自互联网
• That suggests the Taliban forces are eschewing firefights in favour of terrorist-style attacks. 这表明塔利班武装力量正偏向采用恐怖袭击方式以避免交火。 来自互联网