美联英语短新闻 韩国总统选举开锣

第一篇：美联英语短新闻 韩国总统选举开锣

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South Koreans are heading to the polls to elect a new leader as they look to make a fresh start two months after former President Park Geun-hye was ousted over a sprawling corruption scandal.韩国人正前往投票站选举新的领导人，在前总统朴槿惠(Park Geun-hye)因一桩不断发酵的腐败丑闻而遭罢免两个月后，他们正寻求翻开新的一页。

Record turnout is expected on Tuesday after Ms Park’s impeachment fuelled citizens’ civic sprit, as voters remain dismayed at the state of the country.朴槿惠被弹劾助长了韩国人的公民精神，周二这天的投票率有望创下纪录。选民们对韩国的现状仍感到失望。

The next president faces the daunting task of restoring trust in political institutions while reviving an economy plagued by surging household debt, high youth unemployment and stagnant wages.韩国下一任总统面临的艰巨任务是，要在振兴韩国经济的同时，重建对韩国政治机构的信任。目前，韩国经济受到不断激增的家庭债务、居高不下的青年失业率及停滞不前的薪资水平的困扰。

According to opinion polls, Moon Jae-in, a liberal candidate with the Democratic party, holds a 20 percentage point lead over his two main rivals — Hong Joon-pyo，a conservative from Ms Park’s party and former provincial governor, and Ahn Cheol-soo, a centrist with the People’s party and former software mogul.民调显示，共同民主党(Democratic Party)自由派候选人文在寅(Moon Jae-in)的支持率领先他的两个主要对手洪准杓(Hong Joon-pyo)和安哲秀(Ahn Cheol-soo)20个百分点。洪准杓是一名来自朴槿惠所在政党的保守派人士，曾任庆尚南道知事。安哲秀是国民之党(People's Party)中间派人士，曾是一名软件业巨头。

A victory for Mr Moon would end nine years of conservative rule by Ms Park and her predecessor Lee Myung-bak.Mr Moon served as chief of staff for late liberal president Roh Moo-hyun but he narrowly lost to Ms Park in the 2012 presidential election.文在寅一旦获胜，将为朴槿惠及她前任李明博(Lee Myung-bak)长达九年的保守派统治画上句号。文在寅曾任已故自由派总统卢武铉(Roh Moo-hyun)的幕僚长，但在2012年的韩国总统选举中，他以微弱劣势败给了朴槿惠。

Mr Moon, a former human rights lawyer and ex-leader of the main opposition party, has vowed to clean up government and big business in the graft-afflicted nation.He has also pledged to improve inter-Korean relations through more active engagement with North Korea, and is pursuing a two-track approach of dialogue and sanctions to resolve Pyongyang’s nuclear problems.文在寅当过人权律师，也是韩国主要反对党的前党首。他承诺要清理这个深受腐败困扰的国家的政府和大企业，还承诺要以更积极的对朝接触来改善韩朝关系。此外，他正寻求通过对

话和制裁双管齐下的方式，解决朝核问题。

Voting stations nationwide opened at 6am local time with voter turnout standing at 14 per cent by 10am, according to the National Election Commission.Broadcasters will release the results of exit polls soon after the vote ends at 8pm, with a winner likely to emerge by 3am on Wednesday.韩国中央选举管理委员会(National Election Commission)称，全国各地的投票站于当地时间早上6时开门，到上午10时投票率达到14%。晚上8时投票结束后，广播电视机构将发布出口民调结果，胜选者很可能会在周三凌晨3时前浮出水面。

Mr Moon, who has been criticised by conservatives for being soft on North Korea, has pledged to reconsider the installation of a US missile shield in South Korea amid an outcry over US President Donald Trump’s remarks that South Korea should pay $1bn for the defence system.韩国保守派批评文在寅对朝鲜态度软弱。文在寅发誓要重新考虑在韩部署美国导弹防御系统的问题。美国总统唐纳德?特朗普(Donald Trump)表示韩国应为该防御系统支付10亿美元，这一说法遭到韩国人的公开抗议。

第二篇：美联英语短新闻 文在寅当选韩国总统

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文在寅当选韩国总统

South Korea has chosen an advocate of engagement with Pyongyang as its president, in a vote that draws a line under almost a decade of conservative rule but which could also increase tensions with the US.韩国选择了一个主张与平壤接触的人士担任总统，这一选举结果标志着韩国告别近10年的保守派执政，但也可能加剧韩美之间的紧张。

Around midnight local time Moon Jae-in claimed victory when both of his main opponents conceded defeat.Exit polls showed that Mr Moon, a former human rights lawyer, had amassed more than 41 per cent of the vote in Tuesday’s election, almost twice that of his nearest challenger.当地时间午夜前后，在两个主要对手都承认败选后，文在寅(Moon Jae-in)宣布胜选。投票站出口民调显示，曾经当过人权律师的文在寅在周二的选举中获得41%以上的选票，得票率几乎是最接近对手的两倍。

Mr Moon’s rout of his two main rivals, conservative Hong Joon-pyo and centrist Ahn Cheol-soo, put an end to nine years of conservative rule by Park Geun-hye and her predecessor Lee Myung-bak.高票击败两个主要对手——保守派阵营的洪准杓(Hong Joon-pyo)和中间立场的安哲秀(Ahn Cheol-soo)——意味着，文在寅结束了朴槿惠(Park Geun-hye)及其前任李明博(Lee

Myung-bak)持续9年的保守派执政。

“Today’s sweeping victory is the result of our people’s desperate wish for a regime change,” the 64-year-old Mr Moon said as the result become apparent.“I will realise the two main tasks people desire — reform and national unity.” “今天的全线胜利是我国人民迫切希望政权改变的结果，”现年64岁的文在寅在选举结果变得明朗之际表示。“我将实现人民渴望的两大主要任务——改革和民族团结。” The contest was triggered by a corruption scandal that led to the impeachment of Ms Park, the former president, this year.It was closely watched internationally at a time of mounting concern about North Korea’s nuclear ambitions, which the US regards as its number one national security challenge.此次大选是由一场腐败丑闻引发的，这起丑闻最终导致前总统朴槿惠在今年早些时候被弹劾。在各方对朝鲜的核武野心越来越担忧（美国视其为自己的头号国家安全挑战）之际，这场大选也受到国际上的密切关注。

Kim Jong Un, the North Korean dictator, has vowed to develop a missile capable of delivering a nuclear warhead to the US mainland.His isolated nation has recently launched a barrage of rockets into the Sea of Japan.Many expect Pyongyang to test-detonate its sixth nuclear device soon.朝鲜独裁者金正恩(Kim Jong Un)誓言要开发能够携带核弹头打到美国本土的导弹。他掌权的孤立国家近期接二连三向日本海发射火箭。很多人预期，平壤方面不久将进行其第六次核试验。

While Donald Trump, US president, has warned of the risk of a “major, major conflict with North Korea”, Mr Moon, a former special forces operative, has

promised a new approach to North Korea.This will be based on engaging with Mr Kim’s regime as well as increased pressure.尽管美国总统唐纳德·特朗普(Donald Trump)已经警告，有可能“与朝鲜发生极其重大的冲突”，但曾经在特种部队服役的文在寅承诺对朝鲜采取一种新的方针。这种做法将基于与金正恩政权接触，同时加大压力。

On Tuesday, he said South Korea needed to play a more active diplomatic role on North Korea — an issue on which it has been increasingly marginalised by the US and China amid the power vacuum in Seoul.他在周二表示，韩国需要在朝鲜问题上发挥更积极的外交作用——近期在首尔出现权力真空的背景下，韩国在这个问题上日益被美国和中国边缘化。文在寅当选韩国总统.jpg

However, Mr Moon faces a host of challenges.Domestically, he must restore public trust in political institutions, while reviving an economy plagued by surging household debt, high youth unemployment and stagnant wages.Internationally, he faces growing friction with Mr Trump’s administration, particularly over a US-owned and operated missile shield intended to protect South Korea from threats to the north.不过，文在寅面临着众多挑战。在国内，他必须恢复公众对政治机构的信任，同时重振经济；目前韩国经济受到家庭债务飙升、年轻人失业率偏高和工资停滞的困扰。在国际上，他与特朗普政府之间可能出现越来越大的摩擦，特别是围绕由美国拥有并操作、旨在保护韩国不受

北方威胁的导弹防御系统。

“Moon is arguing for a new approach to both foreign and domestic policy that will signal a departure from the strategies deployed by his more conservative predecessor,” said Liam McCarthy-Cotter, a specialist in East Asian politics at Nottingham Trent University.“文在寅正在主张一种新的内政外交方针，这将标志着告别更为保守的前任所实行的战略，”诺丁汉特伦特大学(Nottingham Trent University)东亚政治专家利亚姆·麦卡锡-科特(Liam McCarthy-Cotter)表示。

Mr Moon has promised to reconsider the missile shield, which is furiously opposed by China, South Korea’s largest trading partner.文在寅承诺过要重新考虑反导系统，该系统的部署遭遇韩国最大贸易伙伴中国的激烈反对。Beijing, which fears the installations will be used to spy on its military progress, has launched economic retaliatory measures, targeting Korean companies operating in China.担心该系统被用来窥探其军事进展的北京方面，针对在华经营的韩国公司采取了经济报复措施

第三篇：美联英语短新闻 德国银行业欢迎中国投资

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The head of BaFin, Germany’s financial watchdog, said he welcomed Chinese investment in the German banking sector, a week after it emerged that Chinese conglomerate HNA had become the biggest single investor in Deutsche Bank.德国联邦金融监管局(Bafin)局长表示，他欢迎中国在德国银行业的投资，一周前有消息称，中国综合企业海航(HNA)已成为德意志银行(Deutsche Bank)最大单一股东。

Chinese investors have spent billions of euros in Germany in the past few years, but have attracted increasing regulatory scrutiny of late, with the government last year stymieing a bid by a Chinese consortium for the chipmaker Aixtron on security grounds.最近几年，中国投资者已在德国投资数十亿欧元，但最近招致监管部门越来越多的审查。去年，德国政府以安全为由，否决了中国一财团对德国芯片制造商爱思强(Aixtron)的收购计划。

Speaking at BaFin’s annual press conference in Frankfurt, Felix Hufeld said he saw Chinese investment as a vote of confidence in Germany’s banking sector.在德国联邦金融监管局在法兰克福的记者会上发表演讲时，菲利克斯?胡费尔德(Felix Hufeld)表示，他认为中国的投资是对德国银行业投下的信任票。

“It is basically a positive story that capital finds it interesting to invest in German

banks and of course [that includes] foreign capital, and of course [that includes] Chinese capital,” he said.“BaFin has no blacklist of which countries can in principle invest here.”

“这基本上是一个正面的故事，说明资本对投资德国银行有兴趣，当然（这包括）外国资本，当然（这包括）中国资本，”他表示，“德国联邦金融监管局对于哪些国家原则上可以在我国投资没有黑名单。”

HNA disclosed last week that it had boosted its stake in Deutsche to 9.9 per cent, putting it ahead of US investment group BlackRock, which has a 5.9 per cent stake.The Qatari royal family holds between 8 and 10 per cent of Germany’s largest lender via two investment vehicles.上周，海航披露，已将其在德意志银行的持股比例增至9.9%，超过贝莱德(BlackRock)所持的5.9%持股。卡塔尔皇室家族通过两个投资工具，持有这家德国最大银行8%至10%的股权。

C-Quadrat, the asset manager through which HNA bought its stake, has made clear that HNA has no intention of raising its stake beyond 10 per cent, the threshold above which BaFin has to approve stake purchases.海航是通过资产管理公司C-Quadrat购入德意志银行股份的。C-Quadrat明确表示，海航无意将其持股比例提高到10%以上；如果达到10%或以上，就必须得到德国联邦金融监管局的批准。

Asked whether BaFin scrutinised investments such as HNA’s that came close to, but did not breach the 10 per cent threshold, Mr Hufeld said BaFin could not change the levels at which it was legally allowed to rule on investments, but stressed that

the watchdog was paying close attention to market developments.在被问及德国联邦金融监管局会否关注海航这样接近，但没有超过，10%持股门槛的投资时，胡费尔德表示，该局无法改变其依法被允许审批投资的门槛，但他强调，该局正密切关注市场动向。

“We have carried out reviews very intensively in a series of cases.We take the owner control process very seriously,” he said.他表示：“我们在一系列个案中进行了非常深入的审查。我们非常认真地对待所有者控制过程。”

“[The arrival of foreign capital] is a general process of internationalisation of the investor base which we are also seeing in other industries, but which in a regulated industry like banking or finance triggers certain reviews?.?.?.?We look at what is happening, we meet such people [who want to invest], we want to get an impression [of them], we want to know who we are dealing with.”

“（外资的到来）是投资者基础国际化这一总体过程的一部分，我们在其他行业也看到了，但在银行业或金融业等受到监管的行业，这会触发某些评估……我们正关注情况的发展，我们见了一些人（他们希望投资），我们希望对（他们）有一个印象，我们希望知道我们在同谁打交道。”

第四篇：美联英语短新闻 马克龙改革成败的意义

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As Emmanuel Macron savours his victory in the French presidential election, he might consider the words of John Maynard Keynes in an open letter, written to Franklin Roosevelt in December 1933.The British economist told the US president: “You have made yourself the Trustee for those in every country who seek to mend the evils of our condition by reasoned experiment within the framework of the existing social system.If you fail, rational change will be gravely prejudiced throughout the world, leaving orthodoxy and revolution to fight it out.”

当埃马纽埃尔·马克龙(Emmanuel Macron)回味此次法国总统大选胜利时，他或许会思考约翰·梅纳德·凯恩斯(John Maynard Keynes)在1933年12月写给富兰克林·罗斯福(Franklin Roosevelt)的一封公开信中的话。这位英国经济学家对美国总统说：“您已经使您自己成为各国有志于在现行社会制度的框架内进行合理的实验以改正我们所面临的弊端的受托人。如果您失败了，合乎理性的变革将在全世界蒙受严重的损失，而听任正统力量与革命去一决雌雄。”

France does not have a global role comparable to the US.But it is certainly true that the success or failure of the new president will matter well beyond France — and even well beyond Europe.If Mr Macron succeeds, the forces of nationalism and political extremism — represented in France by his defeated opponent, Marine Le

Pen — will suffer a setback around the world.But if he fails, populism, nationalism and protectionism will soon be resurgent.法国在全球的角色无法与美国相提并论。但毫无疑问，法国新总统的成败带来的影响将远远超出法国，甚至远超出欧洲。如果马克龙成功了，各种民族主义、政治极端主义势力——在法国以被他打败的对手马琳·勒庞(Marine Le Pen)为代表人物——将在世界各地遭遇挫败。但如果他失败的话，民粹主义、民族主义和保护主义很快将再度泛起。

For while Mr Macron can savour a crushing victory over Ms Le Pen, he also knows that 35 per cent of French voters have just voted for a far-right candidate.The cumulative vote for extremists of the far left and the far right in the first round of the presidential election was closer to 50 per cent.That means that almost half of French voters want to smash “the system”.因为，虽然马克龙可以得意于对勒庞的压倒性胜利，但他也深知，35%的法国选民刚刚把票投给了一位极右翼候选人。在首轮总统选举投票中，极左和极右翼候选人合计得票接近50%。这意味着，几乎一半的法国选民希望砸烂“体制”。

It is Mr Macron’s job to show that the system can work better.If he fails, then, as Keynes put it in the 1930s, “rational change will be gravely prejudiced throughout the world”.马克龙肩负着如下责任：向民众证明这一体制能够运行得更好。如果他失败了，那么——正如凯恩斯在上世纪30年代所言——“合乎理性的变革将在全世界蒙受严重的损失”。The chances of failure are quite high.Mr Macron has simultaneously to reinvigorate the French economy and the “European project”.Both are notoriously difficult to reform and face deep structural challenges that might defeat even the most

imaginative and dynamic politician.马克龙失败的可能性相当高。马克龙必须同时重振法国经济和“欧洲计划(European project)”。两者都是出了名的难以改革，还面临着深层结构性挑战，这些挑战甚至可能让最具想象力、最有活力的政治家没招。

The tasks of reform at home and in Europe are linked.Unless he can demonstrate to the German government that France is genuinely changing, then the Germans are unlikely to take the risk on the much-deeper EU integration that Mr Macron thinks(probably correctly)is necessary to make the European single currency work.法国国内改革与欧洲改革的任务是相互关联的。除非马克龙能够向德国政府证明法国真的正在变革，否则，德国人不大可能冒险推进更深层次的欧盟一体化，而马克龙认为（他很可能正确）只有这样做才能使欧洲单一货币成功。

At home, the challenges he faces are pretty obvious.The French state is abnormally large, with government spending accounting for 56 per cent of gross domestic product.The private sector is over-regulated and the public finances are over-stretched.Reducing the size of the state and making the labour market more flexible should help to generate jobs and economic growth.But any efforts at neoliberal reforms will inevitably face passionate resistance from the far left, the far right, the unions and a large part of the political establishment.Street demonstrations have stopped previous efforts at economic reform in their tracks for 20 years and more.在国内，马克龙面临的挑战更显而易见。法国政府异常庞大，政府支出占国内生产总值(GDP)的56%。私营部门受到过度监管，公共财政不堪重负。缩小政府规模、让劳动力市场更具

弹性应该有助于创造就业和推动经济增长。但是，任何新自由主义改革努力都将不可避免地遭到来自极左、极右、工会以及大部分政治建制力量的强烈抵制。在不止20年时间里，街头示威已经一次次扼杀此前的经济改革努力。

Mr Macron’s domestic political base is also fragile.He is, in some ways, an accidental president whose victory was achieved partly because the traditional centre-right and centre-left parties chose unelectable candidates, hamstrung either by extremism or by personal scandal.There is a strong chance that Mr Macron’s new political movement, En Marche!, may not gain enough seats in parliamentary elections in June to allow the new president to get his agenda through, without forming an unstable coalition.马克龙在国内的政治基础也比较脆弱。在某些程度上，他是一位意外当选的总统，他的胜选部分是因为传统的中右翼和中左翼政党选出了不太可能当选的候选人——要么是因为秉持极端主义，要么是因为个人的丑闻。马克龙的新政治运动“前进”(En Marche!)很可能无法在6月的议会选举中赢得足够席位，除非他组建联合政府（联合政府是不稳定的），否则他将无法让议会通过他的议程。

But Mr Macron’s position as a political newcomer could also be an advantage if he can carve out a new space in the political centre-ground.As a former minister in a Socialist government, Mr Macron could send a bold signal by appointing a prime minister from the opposite political tribe, the centre right.If he can pull in enough support from the right, while retaining the support of the reformist wing of the Socialist party, he could yet create the backing he needs to push through reforms — for example to the country’s 35-hour working week.但如果马克龙可以为中间派开拓出一块新空间，他作为政治新手的角色可能也是一项优势。曾经在社会党政府担任部长的他，可能通过从对立的中右翼阵营中任命一位首相来发出一个大胆的信号。如果他可以从右翼获得足够支持，同时依然拥有社会党改革派的支持，他可能会赢得推动改革（比如改革法国的35个小时工作制）所必需的支持。

The problem of opposition on the streets will be real and will have to be faced down.An early pay increase for the police, many of whom will have voted for Ms Le Pen, might be advisable.反对者走上街头的问题是切实存在的，必须强硬面对。提早为警察加薪（很多警察可能把票投给了勒庞），或许是明智之举。

If Mr Macron can demonstrate that he is really reforming France, he might then gain the credibility to go to Berlin and demand reforms to the EU.The government of Angela Merkel has been understandably wary of French calls for a loosening of austerity in Europe or for the issuing of common EU debt, believing that they ultimately come down to a desire that thrifty German taxpayers should fund the profligate French state.But there is also a growing awareness in some parts of the German government(the foreign ministry more than the finance ministry)that a failure to give some ground to France and Italy could ultimately prove disastrous for Germany itself, if it means that reformists like Mr Macron fail, and are replaced by radical populists such as Ms Le Pen.如果马克龙可以证明他真的在改革法国，那他可能得到足够的可信度，能够前往柏林，要求

对欧盟进行改革。出于可以理解的理由，安格拉?默克尔(Angela Merkel)政府一直对法国的如下呼吁心存警惕：在欧洲放松紧缩；发行欧盟共同债务。默克尔政府认为，这些呼吁归根结底是希望节俭的德国纳税人来资助肆意挥霍的法国政府。但德国政府部分部门也日益认识到（外交部的体会比财政部更深），如果不向法国和意大利做出一些让步——如果这意味着像马克龙这样的改革派失败了，被勒庞这样的激进民粹主义者取而代之——可能最终对德国本身带来灾难性后果。

The election of Mr Macron will also be greeted warily in London, where it is feared that his passionate defence of the EU will translate into a particularly tough line on Brexit.But a more confident France and a revived EU might be less inclined to see Brexit as a mortal threat, and so more willing to strike a win-win deal that keeps markets open and alliances intact.伦敦方面也将谨慎地欢迎马克龙的当选，前者担心马克龙保卫欧盟的热情可能转化为对英国退欧的强硬立场。但一个更自信的法国和一个复兴的欧盟，可能会不那么倾向于把英国退欧视为致命威胁，因而更愿意敲定一份双赢的协议，来保持市场的开放和联盟关系的完好无损。There really is a lot riding on the success of President Macron — and not just in France.法国总统马克龙的胜利确实关系着很多事情——不只是在法国。

第五篇：美联英语短新闻 国际投资者关注中国坏账市场

小编给你一个美联英语官方免费试听课申请链接： http://m.meten.com/test/waijiao.aspx?tid=16-73675-0 美联英语提供：英语短新闻 国际投资者关注中国坏账市场

ShoreVest Capital Partners says it has launched a $750m fund targeting bad debt in China as foreign interest builds in a market known for frustrating outside investors.新岸资本(ShoreVest Capital Partners)表示已推出一支7.5亿美元的瞄准中国坏账的基金。这个以令外部投资者受挫而著称的市场，正引起外国投资者越来越大的兴趣。

The Guangzhou-based firm said it has already raised cash from sovereign wealth funds and pension funds, tapping into still-nascent demand from global investors for non-performing loans in China.这家总部位于广州的公司表示，利用全球投资者对中国正在萌生的不良贷款的需求，该公司已从主权财富基金和养老基金中筹集到资金。

At least three other global investors have moved into the market for China’s bad debt this year.今年至少还有其他三家国际投资机构进入了中国坏账市场。

The country’s opaque legal system and problems connected to owning state assets have made recovering returns from bad debt in China a complicated task.Some foreign investors that have waded into the market in recent years have found local courts reluctant to allow foreign investors to restructure companies if jobs were at stake.中国不透明的法律制度以及拥有国有资产所涉及的问题，令从中国坏账中获取回报成为一项复杂任务。近年来一些涉足这个市场的外国投资者发现，如果就业受到威胁，地方法院不愿让外国投资者重组企业。

The level of bad debt in China, however, has surged since 2013, bringing a surplus of NPL deals to the market and adding pressure on Beijing to resolve the problem.Moody’s recently downgraded China’s sovereign rating for the first time in 25 years in part over concerns regarding surging corporate debt levels.然而自2013年以来中国坏账水平激增，导致该市场不良贷款交易过剩，也增加了北京方面解决这一问题的压力。最近，穆迪(Moody’s)25年来首次下调了中国的主权信用评级，部分原因是出于对不断飙升的公司债务水平的担忧。

While the official rate of NPLs at Chinese commercial banks hovers below 2 per cent of total assets, analysts say the true figure could be as high as 15 per cent.ShoreVest estimates that China’s stock of bad debt has hit $3tn and the government has incentivised banks to deal with the load.虽然中国各商业银行的官方不良贷款率低于2%，但分析师认为真实数字可能高达15%。新岸资本估计中国的坏账存量已达3万亿美元，政府已鼓励银行对这些坏账进行处理。Global banks started investing in China’s bad loans more than a decade ago and several succeeded in striking profitable deals.More recently, the number of transactions pulled off by outsider investors has remained small.At the same time, local distressed debt funds have sprung up, adding some competition at auctions for bad loan portfolios.国际银行从十多年前开始投资中国的不良贷款，有多家曾成功达成交易并实现盈利。最近外

部投资者完成的交易数量仍然很少。同时本土不良债务基金纷纷涌现，给不良贷款组合的拍卖增加了一些竞争。

Despite the generally tepid sentiment on distressed debt investing in China, ShoreVest says some large global investors are coming around to the market.尽管对中国不良债务的总体投资热度不高，但新岸资本表示一些大型国际投资者重新回到了该市场。

“When I raised our first fund 10 years ago, the only LPs [limited partners] interested in Chinese NPLs were those who were open to sophisticated niche strategies,” said Benjamin Fanger, ShoreVest managing partner.The asset class has since attracted a wider range of larger global investors, he said.新岸资本管理合伙人方杰明(Benjamin Fanger)表示：“10年前我筹建我们的第一支基金时，对中国不良贷款感兴趣的有限责任合伙人(LP)只有那些能接受复杂利基策略的。”他说，该资产类别后来吸引了更广泛的大型国际投资者。

Last week Bain Capital said it had bought a portfolio of bad loans from a Chinese asset management company for $200m, its first foray into bad debt in China.ShoreVest is acting as the master servicer for the acquisition, according to Bain.贝恩资本(Bain Capital)上周表示，已斥资2亿美元从一家中国资产管理公司收购了一个不良贷款组合，这是该公司首次涉足中国坏账市场。据贝恩资本表示，新岸资本是这笔收购的总服务商(master servicer)。

In early 2017, US private equity firm Lone Star and Hong Kong peer PAG began buying non-performing loan portfolios in China, according to several people familiar with the matter, marking the first time in years that new global investors

have pushed into the market without a large mainland partner.At the time, PAG said the volume of NPL deals coming on to the market was increasing significantly.据多位知情人士透露，2017年初，美国私募股权投资公司孤星(Lone Star)和香港同行太盟投资集团(PAG)开始在中国购买不良贷款组合，标志着多年来首次有新的国际投资者在没有大型内地合作伙伴的情况下进入该市场。太盟投资表示，目前进入该市场的不良贷款交易数量正在显著增加。

ShoreVest began buying NPL portfolios in China in November.The group was formed by Mr Fanger, a long-time China distressed debt investor, after the split-up of an earlier fund.新岸资本从去年11月份开始在中国购买不良贷款。该集团由长期投资于中国坏债的方杰明在早前一支基金分拆后创建。

Some consultants expressed scepticism on the level of global interest in China’s toxic loans and say that, as many investors have long feared, the returns on such investments have continued to fall below expectations.一些咨询顾问对中国不良贷款吸引的国际投资意向不看好，他们表示，正如许多投资者长期以来所担忧的，这种投资的回报仍持续低于预期。

“I actually don’t think it is increasing right now,” Ted Osborn, a partner at PwC in Hong Kong, said of the overall sentiment for investments in distressed debt in China.“There are six to eight funds that have dedicated some people to finding deals but they aren’t actually finding much.Returns just aren’t there at the

moment.”

普华永道(PwC)驻香港合伙人区兆邦(Ted Osborn)在提到中国不良贷款投资的整体情绪时表示：“实际上我并不认为整体环境正在升温。有6到8支基金配备了一些人手去找交易，但他们实际找到的并不多。眼下根本没有什么回报。”