2015年CRI Lord Mayor of the City of London: China's Stock Market ＂Hiccup＂ Part of Market Evolution

Lord Mayor of the City of London: China's Stock Market ＂Hiccup＂ Part of Market Evolution

In a press briefing with journalists on his planned visit to China next week, the Lord Mayor says it is a common episode in any emerging market to have overblown stock bubbles burst at a certain point.

"We are talking about a market which is very very young and I think to archive what they have archived so far in that period of time, inevitably¹ there will be hiccups² and bits of volatility³. We've just been through one, it will stabilize⁴ and so it's about finding ways to actually smoothing the volatility of these markets. "

A specialist in investment banking⁵ and a successful businessman himself, the Lord Mayor explains that the stock market turbulence⁶ is part of a process in China's evolution to an institutional economy.

"Each market goes through processes of evolution, it starts off with individuals, dynasties, companies and families and so on. It's all about the individual in the beginning. But it takes the evolution of the institutional market to take place. The institutional market normally took place actually after a crash like this because people suddenly realize they aren't as good at judging things as individual and therefore they decided⁷ to go and hire professional managers."

Carrying on the annual duty as the Lord Mayor of the City of London, Alan Yarrow will lead a business delegation⁸ to a ten-day trip to Hong Kong and Chinese mainland cities including Beijing and Shanghai.

In October, the Lord Mayor is also scheduled to host a banquet at the City of London in honor of Chinese President Xi Jinping's state visit to the UK. The Lord Mayor says he's looking forward to welcoming the Chinese President in the year which marked the "golden era" in China-UK relations.

"We by definition do 44% of foreign exchange in global trade here in the City of London. We can not afford not to be interested in countries which are growing fast and actually have a very big impact on the world economy. So we are here to support, in partnership⁹, the development to the Chinese economy. And there's a lot we can do to support China. I think we hear more about collaborations in his visit. We are very proactive and we want to be there and be a firm partner of China."

For CRI, I'm Duan Xuelian in London.

1 inevitably   

adv.不可避免地；必然发生地

参考例句：

• In the way you go on,you are inevitably coming apart.照你们这样下去，毫无疑问是会散伙的。
• Technological changes will inevitably lead to unemployment.技术变革必然会导致失业。

2 hiccups   

n.嗝( hiccup的名词复数 )；连续地打嗝；暂时性的小问题；短暂的停顿v.嗝( hiccup的第三人称单数 )；连续地打嗝；暂时性的小问题；短暂的停顿

参考例句：

• I cannot find a rhyme to "hiccups". 我不能找到和hiccups同韵的词。 来自《简明英汉词典》
• Can we rhyme 'hiccups'with 'pick-ups'? 我们能把‘hiccups’同‘pick－ups’放在一起押韵吗？ 来自辞典例句

3 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

4 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 turbulence   

n.喧嚣，狂暴，骚乱，湍流

参考例句：

• The turbulence caused the plane to turn over.空气的激流导致飞机翻转。
• The world advances amidst turbulence.世界在动荡中前进。

7 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

8 delegation   

n.代表团；派遣

参考例句：

• The statement of our delegation was singularly appropriate to the occasion.我们代表团的声明非常适合时宜。
• We shall inform you of the date of the delegation's arrival.我们将把代表团到达的日期通知你。

9 partnership   

n.合作关系，伙伴关系

参考例句：

• The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
• Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。