China's shadow banks, increasingly wary of lending into a slowing economy, have turned to the stock market, fuelling a surge in unregulated margin lending that has driven the market's dizzying gains over the past year. 中国影子银行对于在中国经济放缓背景下发放贷款日益小心,它们已转向中国股市,令一些没有受到监管的保证金贷款急剧增加。过去一年里,这些保证金贷款推动中国股市疯狂上涨。
Yet this officially sanctioned margin lending, which is tightly regulated and relatively transparent, is only the tip of the iceberg for Chinese leveraged stock investing. 然而,虽然这种官方批准的融资融券业务监管严格而且相对透明,但对于中国杠杆化的股市投资来说,它们其实只是冰山的一角。
Reports that China's two biggest state-owned commercial banks would cut new lending sharply in the second half of the year triggered concerns that both the country's economic recovery and its surging stock market could come under threat. 据报道,中国最大的两家国有商业银行将大幅削减今年下半年的新增放贷。该消息使得人们担心,中国的经济复苏及其飙升的股市都将受到威胁。
The drop was the largest in percentage terms in nine months and appears to reflect concern over government efforts to rein in bank lending that has been diverted to the country's stock and property markets amid an unprecedented credit boom. 昨日股指创下9个月来最大百分比跌幅,似乎反映市场担忧政府力图收敛银行放贷。在空前的信贷繁荣中,部分银行信贷流入了股市和房地产市场。
Given a global crisis triggered by property lending and a halving of China's main stock market index this year, Mr Chow was surprisingly sanguine about spending millions of dollars on an aircraft. 考虑到房地产贷款引发的全球金融危机,以及中国主要股指今年已跌去一半,Chow对花费数百万美元购买一架飞机表现出的乐观态度令人吃惊。
Furthermore, Mr Williams said the impact of the lending in the first half had probably still not been completely felt, either in the real economy or in the stock markets. 威廉姆斯还指出,无论是在实体经济中还是在股市中,上半年放贷的影响力或许均未得到完全体现。
They and their teams are accused of fraud, giving loans to fake companies, lending to businesses they had personal interest in, conspiring with stock brokers to drive up share prices. 他们及其团队被控诉欺诈,为虚假公司提供贷款,向与他们四人利益相关的企业提供贷款,与股票经纪人合谋抬高股价。
The lending nations subscribe toward its capital stock in proportion to their economic importance. 贷款各国就其经济地位按比例认购股份。
Government officials and economists have warned that the flood of bank lending that is funding most of the stimulus package is already generating dangerous new bubbles in the property and stock markets. 政府官员和经济学家已发出警告,为刺激计划提供大部分融资的银行放贷的泛滥,已经在房地产和股票市场催生出危险的新泡沫。
Closing prices are typically used, for example, to set mutual fund net asset values, to settle derivatives contracts, for pricing equity offerings or for lending covenants from banks that have taken stock as collateral for loans. 比如说,收盘价通常被用来计算共同基金资产净值,清算衍生品合约,设定股票发行价,或者银行接受股票作为抵押品的贷款合约的定价。
The surging lending and rising stock market have caught the eyes of investors around the world. 汹涌澎湃的贷款和股票市场上升吸引了投资者眼中的世界各地。
Government banks have been lending at a rapid rate, factory output is rising again and the local stock market is blazing ahead. 政府银行正快速放贷,工厂产出再度升温,国内股市也在冲高。
China's central bank raised interest rates for the second time in less than a month yesterday in an attempt to rein in soaring food prices, excessive bank lending and bubbles in the property and stock markets. 中国人民银行(PBoC)上周五上调利率,以抑制不断飙升的食品价格、过度的银行放贷,以及房地产和股市泡沫。这是中国央行在不到一个月的时间内第二次宣布加息。
The lure of double or even triple-digit interest rates has attracted investors to place their money in underground lending markets or wealth management products, rather than in the stock market, says Mr Xie. 谢国忠表示,两位数、甚至三位数利率的诱惑,吸引投资者把资金投向地下放贷市场或理财产品,而不是股市。
However, lending security is not yet in place in China, which results in a legal dilemma in introducing lending security for stock lending and borrowing. 然而,当前我国法律尚未确立让与担保制度,这就导致了我国按照让与担保模式设定的融资融券担保制度陷入了法律困境。
As long-term investors with low turnover on their stock portfolios, they will be able to make money by lending some of their idle stock holdings. 作为股票资产换手率较低的长期投资者,它们将能够通过借出部分闲置的股票头寸而获利。
Through the research the author has found the increasing of money supply can lead to the rise of the stock price and that the rising of interbank lending rates can also lead to increase of the stock price. 通过分析货币供给和银行间拆借利率对股市的影响,验证了货币供给量增加能导致股价上涨这一货币理论。