Private funds reach one trln yuan in China

时间：2007-04-06 01:50:31

（单词翻译:单击）

Chinanews, Beijing, Apr. 5 – “In China, private fund is somewhat like a man's mistress. It is not officially recognized by society and is not protected by law,” Mr. Lv, a deputy general manager from a private funding company, recently used this metaphor1 to explain the situation of private funds in China to a reporter from the China Economic Herald2.

 

According to Li Yafang, a CPPCC National Committee member, there is about one trillion yuan of private funds in China. By April 3, capitalization in Shanghai and Shenzhen stock exchanges had exceeded 13 trillion yuan and private funds accounted for 8% of the total capitalization. While large amounts of private fund help activate3 the securities market, they might also contain great risks. The largest risk is that transactions of private funds are not protected by law.

 

Chinese legal system has not covered private funds so far. The transactions are not recognized by law and consequently, buyers might bear great legal risks. The relationship between investors4 and trustees is based on an unlawful contract. Once there a dispute arises between them, investors will find it hard to seek legal protection. This may lead to some form of social instability, said Zhang Yu, a lawyer from the Shanghai Newhope Law Firm.

 

An official from the China Securities Regulatory Commission said recently that supervision5 of private funds would become a major task for them in the next stage.

 
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1 metaphor o78zD     
n.隐喻，暗喻
参考例句：
  • Using metaphor,we say that computers have senses and a memory.打个比方，我们可以说计算机有感觉和记忆力。
  • In poetry the rose is often a metaphor for love.玫瑰在诗中通常作为爱的象征。
2 herald qdCzd     
vt.预示...的来临，预告，宣布，欢迎
参考例句：
  • In England, the cuckoo is the herald of spring.在英国杜鹃鸟是报春的使者。
  • Dawn is the herald of day.曙光是白昼的先驱。
3 activate UJ2y0     
vt.使活动起来，使开始起作用
参考例句：
  • We must activate the youth to study.我们要激励青年去学习。
  • These push buttons can activate the elevator.这些按钮能启动电梯。
4 investors dffc64354445b947454450e472276b99     
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
5 supervision hr6wv     
n.监督，管理
参考例句：
  • The work was done under my supervision.这项工作是在我的监督之下完成的。
  • The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

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