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为什么阿里巴巴在香港IPO或预示中国投资者撤出华尔街

Why Alibaba's Hong Kong IPO May Signal a Chinese Retreat From Wall Street

为什么阿里巴巴在香港IPO可能预示着中国投资者撤出华尔街

Clay Chandler here, filling in for Adam from rainy Hong Kong where everybody is buzzing about Alibaba.

这里是克莱·钱德勒,来自多雨的香港,为亚当代班。现在香港人人都在谈论阿里巴巴。

As we briefly mentioned on Tuesday, the Chinese tech behemoth is mulling a secondary listing on the Hong Kong exchange to raise $20 billion later this year. The company isn’t commenting.

正如我们周二曾简要提到的那样,这家中国科技巨头正考虑在香港交易所进行二次上市,希望在今年晚些时候募集200亿美元。该公司没有对此发表评论。

But in this city, where finance floats nearly everyone’s boat in one way or another, a deal that rich would be cause for jubilation—and a huge coup for Hong Kong Exchanges & Clearing (HKEC), which operates this city’s bourse. In 2014, when Alibaba first sought to go public, Jack Ma and other founders snubbed Hong Kong because HKEC refused to allow dual-class shares granting different voting rights for different stocks. Alibaba listed instead on the New York Stock Exchange, where it raised a record $25 billion. (HKEC has since dropped the dual-class ban.)

但是在这个金融以各种方式跟所有人密切相联的城市里,一笔如此高额的交易会引起人们的欢呼——对香港交易所来说也是一个巨大的成功。2014年,当阿里巴巴首次寻求上市时,马云和其他创始人放弃香港,原因是香港交易所不允许双重股权对不同股票赋予不同的投票权。阿里巴巴最后选择在纽约证券交易所上市,在那里筹集到了创纪录的250亿美元。(香港交易所后来取消了双级禁令。)

And yet Alibaba’s return to Hong Kong also reflects the tempestuous state of U.S.-China relations. As we noted in Data Sheet last week, the escalating trade war between the two nations is morphing into a tech war. Word of Alibaba’s Hong Kong IPO—which comes days after a move by the Trump administration to forbid American firms from selling technology to Huawei Technology—has inspired a new fear: that tensions are spreading to capital markets, too.

然而,阿里巴巴重返香港也反映出美国的动荡状态中美关系。正如我们在上周的数据表中所指出的,两国之间不断升级的贸易战正在演变成一场科技战争。阿里巴巴香港首次公开募股的消息引发了一种新的担忧:紧张局势也开始蔓延至资本市场。几天前,特朗普政府禁止美国公司向华为出售技术。

The Financial Times warns that Alibaba, after setting the record for world’s richest IPO, “is about to set a new standard for a politically motivated one.”

英国《金融时报》警告称,在创下全球最高额IPO纪录之后,阿里巴巴“即将为具有政治含义的IPO设定一个新标准”。

Alibaba’s New York debut was hailed by many as a milestone in the integration of the U.S. and Chinese economies. In the years that followed, scores of Chinese companies emulated Alibaba’s example, bypassing Hong Kong to raise hundreds of billions of dollars on American exchanges. If Alibaba does float shares in Hong Kong later this year, its IPO could mark the beginning of a Chinese retreat from The Street.

阿里巴巴在纽约的首次亮相被许多人誉为中美经济一体化的里程碑。在随后的几年里,数十家中国企业效仿阿里巴巴的做法,绕过香港,在美国交易所筹集了数千亿美元的资金。如果阿里巴巴今年晚些时候真的在香港上市,其IPO可能标志着中国人开始从华尔街撤退。

美国雅虎网站读者评论:

译文来源:三泰虎           译者:Joyceliu

外文链接:https://finance.yahoo.com

tom

As new big international brands comes out Asia, they will present their IPOs in Asia by passing Wall Street. This wave of protectionism has scared many foreign investors. Bond markets already showing this.

随着亚洲培养出了新的大型国际品牌,它们将绕过华尔街,在亚洲上市。这波保护主义浪潮吓坏了许多外国投资者。债券市场已经证明了这一点。

 

edward l

why would Jack Ma wants to pays million of dollars to wall street if they are all against china access to capital market.

如果华尔街都反对中国进入资本市场,马云为什么还要向他们支付数百万美元呢?

 

Richie

Thank the dotard for scaring away more and more giant tech companies from the NY stock market!

感谢那个老糊涂把越来越多的科技巨头从纽约股市吓跑了!

 

Kevin

Thanks Jack!

I'm in.

谢谢杰克!

我跟定你了。

 

CK

"Its IPO could mark the beginning of a Chinese retreat from The Street." Good riddance!

Hope it will retreat from the Wall Street. American exchanges thrives for hundreds of years without Alibaba and it will continue to do so for generations to come.

“它的IPO可能标志着中国人开始从华尔街撤退。”终于解脱了!

希望它能从华尔街撤走。在没有阿里巴巴的情况下,美国的交易所已经繁荣了数百年,而且在未来几代人的时间里,它还将继续繁荣下去。

 

RanGoon

Lot of Chinese fluent in the English language commenting here.

很多中国人在这里用地道的英语发表评论。

 

Tom

The Wall Street may already be infected with so much non economic virus and politics that its future is now also threaten . Real economic gurus should intervene to prevent a man from wrecking the institution .

华尔街可能已经被许多非经济病毒和政治因素感染了,以至于其未来也受到了威胁。真正的经济大师应该出手干预,防止有人摧毁这个机构。

 

des

An expensive lesson, all thanks to Trump who revealed the true colours of US at this early stage. Losses to China wouldn't be that much and neither will the economic pain be that long. Never take the easy way out by relying on US tech and dominance. You'll be trapped.

这是一个代价高昂的教训,所有这一切都要感谢特朗普,他在这个早期阶段揭露了美国的真实面目。对中国的损失不会那么大,经济阵痛也不会那么长。永远不要依靠美国的技术和主导地位,走捷径。你会陷入困境的。

 

No

soon China will no 1

很快中国就会成为老大了。

 

Dave

Why stay or associate if one is not welcome....

Good for Jack Ma. We only want your money had wear out..... Move out of US, and Australia for that matter....

如果一个人不受欢迎,为什么还要为他逗留或与他交往?

这对马云来说是好事。我们只想让你把钱花光……搬出美国,还有澳大利亚……

 

Milkdud

trump is gaming the Amerikan stock market and getting his rocks off as he has his friends, family and proxies rake in the cash. In your face insider trading by the trump crime family

特朗普正在利用美国股市大捞一笔,让他的朋友、家人和代理人大赚特赚。特朗普犯罪家族的内幕交易绝对令人震惊。

 

Jim

Does it make trump comfortable?

这让特朗普舒服吗?

 

James

is it the time that they're prepare to take over the top seat?

是他们准备接管最高位置的时候了吗?

 

No

USA wall street is regional witout

美国的华尔街是地域性的。

 

Gaby

Amazon back in time was 20 dollars, Alibaba had a good run too, MercadoLibre grew in Latin America, now is your last chance, Jumia is the Alibaba of Africa, little invested money can grow 100 times

亚马逊(股价)曾经才20美元,阿里巴巴也涨的不错,拉丁美洲的紫游市场也在增长,现在是你最后的机会,Jumia就是非洲的阿里巴巴,投资很少的钱就能增长100倍。

 

Newengland2

We all known no one is trust their accounting system. Good for investors.

我们都知道没有人相信他们的会计制度。这对投资者是件好事。

 

DJ

Good riddance. China is a major problem that everyone has complained about but REFUSED to confront. Trump is the ONLY one who had the sack to do anything about it!!

We’ve had to listen to ALL of these countries complain for YEARS about their THEFTS yet nobody confronted them.

终于解脱了。中国是一个每个人都抱怨但不敢面对的。

多年来,我们一直听到这些国家抱怨中国的偷窃行为,但没有人与他们正面交锋过。

 

Patriot

It is better to get rid of most Chinese companies from Wall Street. They are not trust worthy investments.

最好把大多数中国公司从华尔街赶走。它们是不值得信赖的投资。

 

Green

Any Chinese business would a fool to have it's assets within reach of the US go nment. Don't be surprised if you see hundreds of billions of dollars own by the Chinese move out of the US and in to Russia. Maybe in the long term this trade war will benefit the US or maybe not but not matter what the outcome there will be significant pain.

任何一家中国企业都不会愚蠢地把自己的资产放在美国政府伸手可及的范围内。如果你看到中国人把拥有的数千亿美元从美国转移到俄罗斯,不要感到惊讶。或许从长期来看,这场贸易战会让美国受益,或许不会,但无论结果如何,都将带来巨大的痛苦。

 

James

Good. Keep your com ism and extreme socialism away from free markets.

好。请你们远离紫游市场。

 

steve

king kong jack ma wants his fight in china not usa. usa sucks because of trump the isolationist

金刚马云想在中国拼搏,而非美国。美国烂透了,因为特朗普是孤立主义者。

 

priest

USA can buy from Vietnam,Thailand, Cambodia, Laos, Philippine.

美国可以从越南、泰国、柬埔寨、老挝、菲律宾采购。

 

Fre

all chinese pls retreat back to your cheatna

所有的中国人请回你们的国家去。

 

idontlikeitatall

These trade hawks are full of shxxxt. China is the 2nd largest economy in the world. Their money in our finance market worth billions. This will kill our wall street and the people will suffers.

这些贸易鹰派都是一派胡言。中国是世界第二大经济体。他们的钱在我们的金融市场上价值数十亿美元。这将置我们的华尔街于死地,美国人民将深受其害。

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