🎓原文：Stimulus has reset the mood in markets｜带音频👀来源：经济雪仁20241005期
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IF CHINESE RETAIL investors had
their way they would forgo the seven-day National Day holiday that ends on October 7th. An aggressive
stimulus package, announced in Beijing on September 24th, has unleashed the biggest weekly stockmarket rally the country has witnessed in more than 15 years. Major indices have
soared more than 25%; the Shanghai stock exchange has suffered glitches under the volume of buying activity. The prospect of halting for a full week
has made netizens anxious: “We must keep trading; we must cancel National Day,”
one young investor screamed
into a video widely shared on WeChat, a
social-media platform.
forgo： [fɔːrˈɡoʊ]
v. 放弃
Sacrifice：牺牲，舍弃
Relinquish：放弃，撤离
unleash：[ʌnˈliːʃ]
v. 揭开…束缚，解除，发泄
Release：释放，放松，解雇
glitch：[ɡlɪtʃ]
n. 小过失，差错，故障。这个小故障时9月27日上午开盘后上交所股票交易系统出现既无法卖出也无法撤单的情况。
Screamed into a video：在视频中尖叫
A股情况描述：9月最后一周股市大涨，交易量暴增。一周左右上证综合指数上涨超过25%。导致一些投资者甚至希望国庆期间继续开放故事交易。
The package, unveiled by top
regulators, included a policy-rate cut, mortgage-rate cuts and 800bn yuan
($114bn) in support of the stockmarket.
Two days later a meeting of the Politburo, a group of China’s 24 most
senior leaders, drove
the point home by using phrases such as “action
comes first”, rather than the passive verbiage repeated in recent years. At
another high-level meeting on September 29th LQ, premier, pledged to speed up the implementation of easing measures.
Drove
the point home：把重点讲清楚了，说得透彻。
Drive除了“驾车”还有“驱逐，迫使”等意思。Home做副词有“深深地，深入地”等意思。理解了这些，就不会把drive home翻译成“驱车回家”了
Home free：成功在望
例：That was the hardest part. We're home free now。
Home and dry：大功告成
例：We just have to finish this section, then we're home and dry.
verbiage：[ˈvɜrbiɪdʒ]
n. 用语，冗词
关于货币财政政策：本段大意是高层一改过去的克制消极的货币政策，开始释放大礼包，一是policy-rate cut，也就是存款准金率下调0.5个百分点；二是降低存量房贷款利率；三是8000亿股市支持资金。
Some 2trn yuan in fiscal spending
for consumer handouts and local-government refinancing, as well as 1trn yuan to recapitalise banks, have been reported but not announced formally. Debate over the
effectiveness and scale of this long-awaited bail-out has raged.
But local and foreign investors agree on one point: XX has
finally woken up to the severe problems ailing China’s economy and changed his
approach to fix them.
handout：政府拨款(为促进商业活动)，救济品，传单。
rage：[reɪdʒ]
v/n. 愤怒，狂怒
ail： [eɪl]
v. 困扰，使患病，使不适
distress：使悲伤，使苦恼
bother：操心; 使苦恼
trouble：使烦恼，使忧虑
资金大礼包：有小作文认为会释放2万亿的用于消费和地方政府再融资，1万亿注资到商业银行（降低存款准备金0.5个百分点带来的）
The effect has been to instantly
lift the gloom that has hung over the country after hopes of a strong
post-pandemic recovery faded in mid-2023. One article circulating on September
30th told how a young retail
trader made 520,000 yuan that very morning. Stock-picking tips have flooded social media
even though most stocks listed in China and Hong Kong have surged. All the
while investors have ignored gloomy economic news, such as data released on September 27th that showed industrial
profits tumbling by almost 17%, year on year, in August. Even as ChiNext, the Shenzhen stock
exchange’s main index, surged by 15% on September 30th, a survey of purchasing
managers suggested that manufacturing activity continued to contract.
Retail trader：散户，股市里的零售商就是散户嘛
Stock-picking：选股
gloomy： [ˈɡluːmi]
adj. 悲观的，前景暗淡的
tumble
by：暴跌了，骤降了
热火朝天的大A与不景气的经济对比：一系列的政策大礼包迅速驱散经济不景气的阴郁气氛，年轻人一早就赚了52万，各种选股技巧等关于股票投资的消息开始满天飞。股市一片热火朝天的景象，但经济却比较悲观，工业产业利润同比下降了17%。
Few companies have performed
poorly enough to be left out of the rally. Although China’s securities brokers
have been slammed by probes and restrictions for several years, the share price of CiticSecurities, one of China’s biggest brokers, has doubled since the stimulus was
announced. Shimao Group, one major developer that faced liquidation earlier
this year, has more than quadrupled.
Listed education firms have jumped. Tech analysts even make out a reset for China’s biggest internet firms, such as Alibaba and Tencent, the
share prices of which have more than halved since 2021. This revaluation of China writ
large is bound to continue when trading resumes on October 8th. Just days ago the world was short on everything China-related,
says Stephen Jen of EurizonSLJ Capital, an asset manager. “Could the bingeing on Chinese equities be complete
in one week?” he asks. “I doubt it.”
slam：[slæm]
n. 猛烈的抨击，谩骂
probe：[proʊb]
n. 详细调查，探究
v. 盘问，探查
quadruple： [kwɑːˈdruːpl]
adj. 四倍的
Triple：三倍的
Make out：理解，填写/开具（支票、收据或订货单)
halve： [hæv]
v.把…分成两半; 把…减半
Writ
large：夸大了的，明显的
Be
bound to：一定，注定，势必
resume：(中断后）继续，恢复席位/地位
binge：[bɪndʒ]
n/v. 大吃大喝，（短时间）狂热行动，纵情狂欢
例：They went on a binge last
night
大A普涨景象：本段讲述了大A股票普涨的情况，一片狂欢。即使一些出现资金链断裂风险，业绩不佳的股票，都出现了2倍、3倍甚至4倍的增长。
本文是整篇文章的上半篇，下半篇待分享。
上期回顾传送门
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