中國平安保險(Ping An Insurance)股東昨日通過了一項備受爭議的170億美元再融資方案，這一方案被指責(zé)為是引發(fā)中國內(nèi)地股市大跌的因素之一。
Shareholders in Ping An Insurance yesterday approved a controversial $17bn fundraising plan that has been partly blamed for triggering a slide in Chinese stock prices.
平安保險此次的再融資行動將成為中國內(nèi)地股市迄今規(guī)模的融資，融資所得將用于海外和國內(nèi)收購，其中可能包括收購保誠保險(Prudential)等英國保險公司。
The fundraising, which would be the biggest fundraising so far in the mainland Chinese stock market, would pay for offshore and domestic acquisitions that could include British insurers such as Prudential.
不過，平安保險的可轉(zhuǎn)債和股票增發(fā)計劃仍需得到監(jiān)管部門的批準，許多分析師和市場人士認為，政府將要求平安保險縮減其再融資規(guī)模。匯豐(HSBC)持有平安保險16.8%的股份。
But Ping An, which is 16.8 per cent owned by HSBC, still needs regulatory approval for the convertible bond and secondary share sale and many analysts and market participants believe that it will be required by the government to scale back the plan.
市場普遍擔(dān)心中國內(nèi)地股市的股票供應(yīng)過剩，這是基準的上證綜指從去年10月高點累計下跌30%的主要原因。
Widespread concern about an oversupply of shares in the mainland equity market has been the main reason behind the 30 per cent decline in the benchmark Shanghai composite since its peak last October.
許多其它大型中國企業(yè)也在計劃進行大規(guī)模增發(fā)，其中包括花旗集團(Citigroup)部分持股的上海浦東發(fā)展銀行(Shanghai Pudong Development Bank)。
A number of other large Chinese companies, including Shanghai Pudong Development Bank, which is partly owned by Citigroup, are also planning large secondary share offerings.
同時，作為2005年中開始的政府牽頭的股改計劃的一部分，以前多數(shù)由政府持有的非流通股正開始流入市場，這加大了股票供應(yīng)可能過剩的壓力。
At the same time, previously non-tradable, mostly state-owned, shares are starting to enter the market as part of a government-led reform plan that began in mid-2005, adding to the potential overhang of shares.
國家媒體上未經(jīng)證實的報道昨日稱，中國政府試圖通過推行2005年實施的一項規(guī)定，減小市場對股票增發(fā)的波動性反應(yīng)，該規(guī)定要求上市公司必須在年報中披露未來一年的融資計劃。
Unconfirmed reports in state media yesterday said that the government intended to reduce volatile market reactions to secondary share sales by enforcing a regulation introduced in 2005 that requires listed companies to disclose fundraising plans for the year ahead in annual reports.
Shareholders in Ping An Insurance yesterday approved a controversial $17bn fundraising plan that has been partly blamed for triggering a slide in Chinese stock prices.
平安保險此次的再融資行動將成為中國內(nèi)地股市迄今規(guī)模的融資，融資所得將用于海外和國內(nèi)收購，其中可能包括收購保誠保險(Prudential)等英國保險公司。
The fundraising, which would be the biggest fundraising so far in the mainland Chinese stock market, would pay for offshore and domestic acquisitions that could include British insurers such as Prudential.
不過，平安保險的可轉(zhuǎn)債和股票增發(fā)計劃仍需得到監(jiān)管部門的批準，許多分析師和市場人士認為，政府將要求平安保險縮減其再融資規(guī)模。匯豐(HSBC)持有平安保險16.8%的股份。
But Ping An, which is 16.8 per cent owned by HSBC, still needs regulatory approval for the convertible bond and secondary share sale and many analysts and market participants believe that it will be required by the government to scale back the plan.
市場普遍擔(dān)心中國內(nèi)地股市的股票供應(yīng)過剩，這是基準的上證綜指從去年10月高點累計下跌30%的主要原因。
Widespread concern about an oversupply of shares in the mainland equity market has been the main reason behind the 30 per cent decline in the benchmark Shanghai composite since its peak last October.
許多其它大型中國企業(yè)也在計劃進行大規(guī)模增發(fā)，其中包括花旗集團(Citigroup)部分持股的上海浦東發(fā)展銀行(Shanghai Pudong Development Bank)。
A number of other large Chinese companies, including Shanghai Pudong Development Bank, which is partly owned by Citigroup, are also planning large secondary share offerings.
同時，作為2005年中開始的政府牽頭的股改計劃的一部分，以前多數(shù)由政府持有的非流通股正開始流入市場，這加大了股票供應(yīng)可能過剩的壓力。
At the same time, previously non-tradable, mostly state-owned, shares are starting to enter the market as part of a government-led reform plan that began in mid-2005, adding to the potential overhang of shares.
國家媒體上未經(jīng)證實的報道昨日稱，中國政府試圖通過推行2005年實施的一項規(guī)定，減小市場對股票增發(fā)的波動性反應(yīng)，該規(guī)定要求上市公司必須在年報中披露未來一年的融資計劃。
Unconfirmed reports in state media yesterday said that the government intended to reduce volatile market reactions to secondary share sales by enforcing a regulation introduced in 2005 that requires listed companies to disclose fundraising plans for the year ahead in annual reports.