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China stocks swung wildly on Thursday after regulators announced new measures designed to stop the market's slide. |
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The Shanghai Composite dropped three percent at the opening bell, but quickly reversed course and jumped into positive territory. |
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The index couldn't hold onto the upward momentum, however, and was flat after roughly an hour and a half of trading. |
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監管機關為了遏止股市下滑而發佈新措施之後，中國股票週四出現了劇烈波動。上海綜合指數在敲鐘開市之後即下跌百分之三，但迅速反彈，跳到上漲的區塊。不過，指數保不住上漲動能，經過一個半小時左右的交易之後又恢復平盤。 |
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Since June 12, the Shanghai Composite has lost an unnerving 32 percent. |
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The Shenzhen market, which has more tech companies and is often compared to America's Nasdaq index, is down more than 40 percent over the same period. |
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自六月十二日以來，上海綜合指數已蒸發了令人驚恐的百分之三十二。包含較多科技公司而且經常被比為納斯達克指數的深圳市場，則在同一段時間下跌了超過百分之四十。 |
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More than half of the companies traded in China have elected to pull their shares as markets continue their crazy roller-coaster ride, according to state media. |
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The number keeps ticking upward. |
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On Thursday alone, more than a hundred firms announced a halt in trading. |
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國營媒體報導指出，隨著股市持續如坐瘋狂雲霄飛車般地波動，在中國交易的公司有半數以上都選擇暫時撤出股市。這麼做的企業不斷增加。單是在週四這一天，就有超過一百家公司宣布暫停交易。 |
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The government is now doing everything it can to rescue the markets. |
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The People's Bank of China has cut interest rates to a record low, brokerages have committed to buy billions worth of stocks and regulators have announced a de facto suspension of new IPOs. |
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政府現在正採取一切努力救市。中國人民銀行降息至創紀錄新低，券商承諾購入價值數十億的股票，監管機關也宣布實質暫停新的首次公開募股。 |
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On Wednesday, government-backed China's Securities Finance Corporation -- known as CSF -- announced that it will lend billions to big Chinese brokerage firms so they can buy more stocks. |
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Controlling shareholders and board members were also barred from reducing share holdings via the secondary market for six months. |
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週三，政府支持的中國證券金融公司宣布將貸放數十億美元給中國大型券商，讓他們可以買下更多股票。主要股東與董事會成員也都禁止在接下來六個月內透過二級市場減少持股。 |
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The most compelling theory why the stock bubble burst: Chinese economic growth is the weakest it's been since 2009. |
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Share prices got way ahead of growth and company profits, which are actually lower than a year ago. |
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針對股市泡沫破裂的原因所提出最可信的理論：中國經濟成長正處於二００九年以來最疲弱的狀態。股價遠高於經濟成長與公司利潤，這兩者其實都比一年前還低。 |
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