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What Chinese banks don't know won't hurt them. This seems to be a guiding principle for some provincial government authorities who are compiling lists of lackluster companies and keeping them secret from regulators and banks who might otherwise refuse to lend.
中国的银行不知者不伤。这似乎成为了某些省政府机构的指导原则，他们正在收集发展不景气的公司名单，并且不让监管部门和银行知道这些名单，否则这些公司就不会再获得贷款。
About 7.5 percent of China's industrial firms are so-called "zombie companies," according to a 2013 survey of more than 800,000 firms by Renmin University economists. Zombies are firms that have trouble refinancing debts or turning profits. Many of these firms are state-owned enterprises, or SOEs, created after China poured 4 trillion yuan into stimulus spending after the 2008 financial crisis, according to the study.
根据人民大学经济学家2013年对80万家公司的调查，中国大约有7.5%的工业公司都是所谓的“僵尸公司”。僵尸公司指那些再融资有困难或难以盈利的公司。该研究表明，很多这样的公司都是国有企业，即SOE，它们是在2008年经济危机后中国投入了4万亿来刺激消费时出现的。
China's state-owned enterprises have benefited from cheap funding. But overcapacity and weak profits at SOEs have driven the country's bad-loan ratios sky-high. The combined non-performing loan ratio of commercial banks rose to 1.81 percent at the end of June, the highest since the 2008 global financial crisis, data from the China Banking Regulatory Commission show.
中国的国有企业都受益于廉价资金。但是国有企业生产能力过剩并且利润微薄，使得我国的不良贷款率极高。中国银行业监督管理委员会的数据显示，截止六月底，商业银行的不良贷款率升至1.81%，是2008年全球经济危机以来的最高数值。
Chinese banks are understandably reluctant to lend to sluggish state-owned enterprises, which worries government authorities pushing for SOE reform. In Jiangxi, where a Bloomberg report said 205 failing coal mines are set to close and the bad-loan ratio is nearly 40 percent higher than the national average, local authorities fear that banks will slam the door on companies discovered to be zombies. The so-called "zombie list" compiled by provincial authorities is kept secret from Jiangxi banks and regulators, including the local branch of the state banking regulator China Banking Regulatory Commission, or CBRC. Representatives from CBRC's Jiangxi branch said at a press conference this month that they compile their own zombie list, which they share with local banks to ensure that promising companies get support.
中国的银行不愿意贷款给萧条的国有企业也是情有可原，这让推进国有企业改革的政府机构颇为担忧。在江西，彭博社报道，205个濒临崩溃的煤矿即将关闭，且不良贷款率比全国平均水平高出近40%，当地政府担心银行会将僵尸公司拒于门外。省级机关拟定的“僵尸名单”并未向江西银行和监管部门公布，包括国家银行监管者中国银监会在当地的分行。本月，中国银监会江西分行的代表在新闻发布会上称，他们会收集自己的僵尸名单并告知当地银行，以确保有发展前景的公司能够得到资助。
Not all provincial governments keep zombie lists. CBRC authorities in Zhejiang Province told Bloomberg said they're collaborating with local officials to create a list. Zombie lists can be used to plan "exits" for zombies, mostly through mergers and restructuring.
并不是所有的省政府都有僵尸名单。浙江省的中国银监会机构告诉彭博社，他们在与地方官员合作共同制造一个名单。僵尸名单可用来让一些僵尸公司通过兼并和重建退出市场。
Zhang Xiwu, vice chairman of the State-owned Assets Supervision and Administration Commission, said in May that the central government plans to reform 345 zombie companies. But in regions where the government refuses to budge, hidden zombie lists could create challenges as banks struggle to simultaneously support SOEs and clamp down on rising bad loan ratios.
国有资产监督管理委员会副会长张喜武五月份称，央行计划改革345家僵尸公司。但是在一些当地政府不愿意服从的地区，被隐藏的僵尸名单可能会带来挑战，因为银行既要资助国有企业，同时又要压制不断上升的不良贷款率。
译文属可可英语原创，未经允许，不得转载。
