China's leadership told officials to be more transparent in the wake of public outcry over the government's handling of last month's train crash, as the disaster showed further signs of taking its toll on the finances of the state-run railways industry.

　　中國(guó)領(lǐng)導(dǎo)層發(fā)文要求各級(jí)政府提高政務(wù)透明度。此前政府對(duì)上個(gè)月動(dòng)車追尾事故的處理引發(fā)了公眾抗議，并進(jìn)一步呈現(xiàn)影響國(guó)營(yíng)鐵路行業(yè)財(cái)務(wù)狀況的跡象。

　　The statement, published Wednesday on the front page of the official Communist Party newspaper People's Daily, didn't specifically mention the July 23 collision of two high-speed trains, which killed at least 40 people. But it seemed clearly aimed at trying to address complaints that the response has been opaque and arrogant.

　　發(fā)布于中國(guó)共產(chǎn)黨官方報(bào)紙《人民日?qǐng)?bào)》頭版的這份公告并未特別提到7•23動(dòng)車追尾事故，但似乎明顯旨在試圖應(yīng)對(duì)人們對(duì)處理事故的不透明及態(tài)度傲慢的不滿。事故造成至少40人遇難。

　　Officials must “grasp the need to be open about major events of interest to the public, and objectively publicize developments and what the government's doing…and quickly respond to society's concerns,” said the statement.

　　公告說(shuō)，各級(jí)行政機(jī)關(guān)要抓好重大突發(fā)事件和群眾關(guān)注熱點(diǎn)問(wèn)題的公開(kāi)，客觀公布事件進(jìn)展和政府舉措……及時(shí)回應(yīng)社會(huì)關(guān)切。

　　The crash has given rise to a groundswell of popular resentment against the government, and in particular the Railways Ministry, for perceived arrogance and mismanagement. It has also drawn attention to the economics behind one of China's showcase investment projects, which has amassed hundreds of billions of dollars worth of public debt and may require a government bailout.

　　此次事故使得公眾對(duì)政府的憤怒情緒高漲，特別是鐵道部顯而易見(jiàn)的傲慢態(tài)度和處置不當(dāng)。同時(shí)也引起了人們對(duì)作為中國(guó)示范性投資項(xiàng)目之一的高速鐵路背后的財(cái)務(wù)情況的關(guān)注，鐵道部累計(jì)公共債務(wù)達(dá)數(shù)千億美元，可能需要政府救助。

　　On Wednesday, government-owned CSR Corp., which made the trains involved in the accident, said it had delayed a key step in its plan to raise 11 billion yuan ($1.7 billion) of fresh capital. In a statement, CSR, which lists shares in Hong Kong and Shanghai, said it will postpone a shareholder vote on the planned private placement until Sept. 29. It was previously planned for Friday. It will use the extra time to talk with shareholders to “to enable them and the company's potential investors to have a good understanding of the prospects of the company and the industry,” the statement said.

　　周三，政府管理的中國(guó)南車股份有限公司說(shuō)，公司已推遲籌集110億元新資金計(jì)劃的關(guān)鍵步驟。中國(guó)南車是兩列失事動(dòng)車的制造商，同時(shí)在香港和上海上市。公司在一份公告中說(shuō)，會(huì)將審議增發(fā)計(jì)劃的股東投票會(huì)議延期至9月29日。會(huì)議原定于周五召開(kāi)。公告說(shuō)，公司擬在股東大會(huì)召開(kāi)之前與投資者進(jìn)行充分溝通，以使投資者對(duì)公司及行業(yè)發(fā)展前景做出準(zhǔn)確判斷。

　　In June, CSR said it would sell the additional shares to its corporate parent and China's national pension fund, and use the proceeds to boost its production capacity to meet rapidly growing demand. While the company hasn't been accused of wrongdoing in the crash, its Hong Kong shares have tumbled about 26% since July 23.

　　6月，中國(guó)南車說(shuō)將會(huì)向其母公司和中國(guó)國(guó)家養(yǎng)老基金增發(fā)股票，利用所得收益來(lái)增強(qiáng)生產(chǎn)能力，以滿足快速增長(zhǎng)的需求。雖然公司并未被指在事故中有不當(dāng)行為，但其香港股價(jià)自7月23以來(lái)下跌了約26%。

　　Analysts say they now expect CSR and other Chinese railway equipment builders to be less aggressive in bidding for new contracts. And they say broader debt issues in the railway system are likely to slow the high-speed network's further expansion and perhaps result in an overhaul of the Railways Ministry.

　　分析師說(shuō)目前他們預(yù)計(jì)中國(guó)南車及其他中國(guó)鐵路設(shè)備制造商競(jìng)標(biāo)新合約的積極性會(huì)降低。他們說(shuō)鐵道系統(tǒng)更大的債務(wù)問(wèn)題可能會(huì)導(dǎo)致高速鐵路網(wǎng)絡(luò)的進(jìn)一步擴(kuò)張放緩，并且可能會(huì)促使鐵道部的改革。

　　According to a report by the Shanghai Clearing House, the Ministry of Railway's total outstanding debt rose to 2.09 trillion yuan ($324.3 billion) at the end of June, from 1.98 trillion yuan at the end of the first quarter.

　　根據(jù)上海清算所的一份報(bào)告，鐵道部截至6月底的未償還債務(wù)總額從第一季度末的人民幣1.98萬(wàn)億元增至2.09萬(wàn)億元。

　　Although the Railways Ministry is backed by the Chinese government, there's been little demand recently for its bonds on the secondary market, where yields on its debt have risen since the crash.

　　雖然鐵道部有政府支持，但近期二級(jí)市場(chǎng)對(duì)其債權(quán)的需求微乎其微，事故發(fā)生后鐵道部債券的收益率一直在漲。

　　Still, local media moved to ease concerns that the ministry may face higher financing costs in the future. Financial News, a newspaper backed by the People's Bank of China, reported Tuesday that the country's big five commercial banks would continue to cooperate with the Railways Ministry and that the rate of interest they charge wouldn't be affected by the crash.

　　不過(guò)有些中國(guó)媒體卻開(kāi)始緩解鐵道部今后可能面臨更大融資成本的擔(dān)憂。中國(guó)人民銀行主管的《金融時(shí)報(bào)》周二報(bào)道說(shuō)，工、農(nóng)、中、建、交五大商業(yè)銀行會(huì)繼續(xù)與鐵道部合作，利率浮動(dòng)依據(jù)市場(chǎng)而非事故。

　　However, some banks may already be nearing the limits of how much they can lend to rail-sector firms, if not the ministry. In a statement last week, the China Banking Regulatory Commission said that banks need to 'conscientiously deal with the problem of railway network loans' and 'hold firm to the red line,' referring to limits the regulator imposes on lending to any one company or conglomerate.

　　然而，撇開(kāi)鐵道部不說(shuō)，一些銀行能夠向鐵路相關(guān)企業(yè)發(fā)放的貸款或許已經(jīng)在接近上限。中國(guó)銀監(jiān)會(huì)上周發(fā)表聲明說(shuō)，銀行業(yè)金融機(jī)構(gòu)要認(rèn)真處理好鐵路系統(tǒng)貸款問(wèn)題，要堅(jiān)守“紅線”，即銀監(jiān)會(huì)規(guī)定的銀行向企業(yè)或集團(tuán)發(fā)放貸款的限額。