1.媒体来源:
彭博社
2.记者署名
Shen Hong, Tongjian Dong and Yuling Yang
(三个小坏蛋，看起来是华人...信用分数要被降低了。)
3.完整新闻标题:
Two China Firms Miss $526 Million Bond Payments as Woes Grow
两间中国公司 5亿两千六百万(美金)的债务付款违约
4.完整新闻内文:
Two Chinese companies failed to repay bonds worth a combined half a billion
dollars on Monday, underscoring rising debt risks in the highly leveraged
nation as the economy slows.
有两间中国公司于本周一，没有对他们的价值5亿（美金）左右的偿还性债卷付款，
这让中国因经济下行而将造成高杠杆操作债务的危机升级，画上了一条底线！很重要！
（我翻得很烂...但是大概就是这个意思，看英文比较好懂。）
Peking University Founder Group was unable to secure sufficient funding to
repay a 270-day, 2 billion yuan ($285 million) bond, according to a company
filing to the National Interbank Funding Center. Tunghsu Optoelectronic
Technology Co. failed to deliver repayment on both interest and principal on
a 1.7 billion yuan bond, according to Shanghai Clearing House.
根据一家公司提交给“全国银行间同业拆借中心（google来的名字）”的资料显示，
北京大学方正集团 无法兑现 一个270天 2亿8千5百万美金（20亿人民币）的债务。
根据上海清算所，东旭光电科技股份有限公司（中国财富420/500强）则是无法兑现
2亿4千1百万美金（17亿人民币）的利息与本金。
The quickening speed of bond defaults in China, especially among ailing
private firms, highlights the growing financial strain triggered by the
country’s worst economic slowdown in three decades and unabated trade
tensions with the U.S. Last week, industrial firm Xiwang Group failed to pay
a 1 billion yuan bond, missing a fresh repayment deadline on an already
defaulted bond.
中国债券违约速度的加快，尤其是在状况不佳的私人公司中，突显了中国30年来最严重
的经济下行和跟美国的贸易战局势引发的越来越严重的金融压力。
上个礼拜，西王集团也 未能兑现 十亿人民币的债卷。
“It’s getting harder for companies to get funding help when facing a debt
crisis, unless they’re centrally-controlled companies and local SOEs that
have great importance to the local economy,” said Yang Hao, fixed income
analyst from Nanjing Securities Co.
南京证券的分析师YANG HAO说：
“除非你是中央控制公司（应该是指国营事业？）
或是 对当地经济超级重要的国有企业，
否则你玩杠杆玩爆了，将很难得到资金帮助。”
Founder’s missed payment on the bond, which has a 15 business-day grace
period, is set to escalate concerns about the weak finances of debt-laden
business arms of Chinese universities. The company and Tsinghua Unigroup Co.,
a top chipmaker run by arch-rival Tsinghua University, have been under the
spotlight in recent months following a tumble in their dollar bonds.
北大方正集团的未偿还债务还有15个工作日的宽限期，
不过，这也加深了人们对负债累累的中国大学们的商业手腕的担忧。
北大方正集团跟他的主要竞争对手清华紫光集团，
在最近几个月，也都因为暴跌的债卷而被关注。
Founder Group’s debt-asset ratio rose to 82.74% as of the end of June from
81.94% at the end of last year, with net losses widening to 1.05 billion yuan
from 867 million yuan in the same period.
方正集团的 资产负债比在六月从去年的81.94% 升高到 82.74%，
同期间也伴随着 从8亿6千7百万 扩大到 10亿5千万人民币 的净损。
*那个...资产负债比到80%
整家公司的资产有80%来自债务，20%来自业主权益...
这公司到底是谁的 XDDDDDDDDDDD
Tunghsu’s five-year paper was originally due December 2021 but investors
recently opted to exercise a put option on it. The electronic display panel
maker has now missed three onshore bond payments in the past month.
Tunghsu failed early repayment on 1.97 billion yuan of principal and interest
on a note on which bondholders similarly exercised a put option. It also was
unable to make good on an interest payment on another local bond.
Tunghsu Group’s financial woes are indicative of China’s sluggish
manufacturing sector, which saw spending only barely above the record low
level hit in September.
上面大概都在讲东旭的债务问题，懒得翻了...
It also highlights the payment struggles faced by the nation’s private
firms, which are being hit harder by the economic slowdown. Their access to
the banking sector remains limited as lenders focus more on politically
influential state-owned companies.
上面这些highlight了，中国的民营公司在遇到经济下行后所面临的还款难题。
而且借款的单位现在也比较focus借钱给治影响力较强的国营企业，
造成这些民营单位的acess有限。
Private sector firms accounted for more than 80% of total defaults this year,
according to Bloomberg-compiled data. Moody’s Investors Service said it
expects 40 to 50 new, first-time defaulters in 2020, compared with 35 so far
this year.
根据彭博的资料显示，多达80%的违约纪录都是来自民营企业。
穆迪也说 预计在2020年将有40～50个新的首次违约者（今年到目前为止为35个）。
The drama is far from ending. Shandong-based Xiwang is slated to repay
interest Tuesday on a 1 billion yuan, 7-year bond due 2022. The corn oil and
steel processor is among a cluster of private firms from the province where
they are well known for vouching for each other’s debt.
好戏还没演完（距离演完还很久。）
总部位于山东的西王集团预计于周二（也就是今天），
偿还一笔为期七年预计2022到期的10亿人民币债券的利息。
这家玉米油和钢铁加工商（应该是指西王）是该省众多民营企业中的一员，
而这些民营企业在山东也以担保彼此的债务而知名...
5.完整新闻连结 (或短网址):
https://reurl.cc/b6xMAE
6.备注:
中国要怎样都不关我的事，只是...80% debt-assest ratio 实在太屌了。