2008年12月2日星期二

分析:中国富豪风险多 / Gome affair shows risks of wealth


作者:英国《金融时报》杰夫•代尔(Geoff Dyer)和吉密欧(Jamil Anderlini) 2008-11-26


在中国,没几个商人比国美电器(Gome electronics)创始人及董事长黄光裕更加惹人注目。
There are few business people in China with higher profile than Huang Guangyu, founder and chairman of the Gome electronics retail chain.

10月,黄光裕以63亿美元的净资产,被《胡润百富榜》(Hurun Report)评为中国首富,这是现年39岁的黄光裕第三次荣登榜首。《胡润百富榜》对中国最富有的个人进行排名。
In October, Mr Huang was named as the richest person in China, with a net worth of $6.3bn according to the Hurun Report, which compiles lists of the country's wealthy. It was the third time that the 39-year-old had topped the ranking.

两周前接受采访时,黄光裕对于国美不远的将来表现得较为乐观,尽管投资者对于中国经济不断放缓和该公司紧张的财务状况感到忧虑。
In an interview two weeks ago, Mr Huang appeared up-beat about the immediate future for Gome, despite investor concerns about a slowing economy and the company's tight finances.

中国政府出台的财政刺激方案,包括为农民减税的言论,将对国美在农村地区的销售起到巨大的推动作用。他表示:“基本上我认为,这对于我们来说是个很好的消息。”
The Chinese government's fiscal stimulus package, which included talk of tax rebates for farmers, would provide a huge boost to Gome's sales in rural areas. “Basically I think it is very good news for us,” he said.

然而,目前国美的前景似乎远没有那么确定了。国美是中国最大的零售商之一,也是最大的家电销售商。
Yet the outlook for Gome, one of China's largest retailers and the largest seller of home appliances, now appears much less certain.

在国内媒体报道称,黄光裕因涉嫌另一家公司的股价操纵案而被拘后,国美股票停牌。黄光裕是国美的控股股东。
Shares in the company were suspended after local media reported Mr Huang, who is the controlling shareholder, had been arrested in connection to a probe into share price manipulation at another company.

国美发表声明称,没有接到黄光裕被拘的任何法律确认文件,不过一位官员承认,目前不能确定黄光裕的去向。
Gome released a statement saying it had not received any legal confirmation of Mr Huang's arrest, although an official admitted to being unsure of his whereabouts.


面对这样的不确定性,一些业内观察人士表示,黄光裕可能将很快重新现身。实际上,一家国内报纸昨日称,他已经在家中。
Amid such uncertainty, some industry watchers said Mr Huang could quickly re-appear. Indeed, one Chinese newspaper said yesterday that he was already at home.

然而,这一事件让人想到了中国错综复杂的政治和法律形势。中国尚未完成从中央计划经济向市场经济的过渡,成功的企业家们不得不在这种形势下谨慎行事。
However, the episode is a reminder of the complicated political and legal terrain that successful entrepreneurs have to navigate in a country where the transition from centrally planned to market economy has not been completed.

编制富豪榜的胡润(Rupert Hoogewerf)表示:“如果榜单上首富被捕的消息属实,那么这将在所有其他私人企业家中引起巨大反响。”
“If it is true the person who is number one on the rich list has been arrested, then it will have a lot of repercussions for all other private entrepreneurs,” says Rupert Hoogewerf, who compiles the Hurun list.

与十年前相比,私人财富现在不那么令人猜疑。那时许多中国民众认为,有钱的企业家是隐匿了 “原罪”——通常是侵吞国有资产,以及通过不正当手段或私人关系获得融资。
Private wealth is not considered as suspicious as it was a decade ago, when rich entrepreneurs were assumed by many people in China to be hiding an “original sin” – usually an appropriation of state assets, funding through irregular means, or personal connections.

私人企业发展迅猛,一些人估计,它们已经占到了国内生产总值(GDP)的一半以上。不过,企业家们仍抱怨称,如果公司发展得太大,他们很容易成为政治目标。
Private companies have expanded rapidly and under some estimates now account for more than half of gross domestic product. However, entrepreneurs still complain that they become an easy political target if their companies grow too big.

许多商人选择加入中国共产党,并通过疏通,成为与共产党有联系的知名团体的成员,使企业能够顺利发展。
Many business people have chosen to join the Communist party and lobby for membership of prestigious party-linked groups in order to smooth expansion.

胡润富豪榜上逾15%的富人都是全国人民代表大会(NPC)或中国人民政治协商会议(CPPCC)的成员。
More than 15 per cent of the people on the Hurun list are members of either the National People's Congress, the legislature, or the China People's Political Consultative Conference, an advisory body.


国美最大竞争对手苏宁电器(Suning chain)的总裁张进东,是中华全国工商业联合会(All-China Federation of Industry and Commerce)——中国共产党下属的企业家组织——副主席,同时也是中国政协委员。
The president of Gome's biggest rival, Zhang Jindong of the Suning chain, is vice-chairman of the All-China Federation of Industry and Commerce – a party-affiliated group of industrialists – and a member of the CPPCC.

近10年前,当中国首个富豪榜发布时,上榜的多位知名人士很快发现自己受到了调查。
When the first rich lists were published in China nearly a decade ago, several names prominent in the rankings soon found themselves under investigation.

刘晓庆是第一批成为目标的新超级富豪之一,她是上世纪80年代一位著名女演员,后来投身房地产行业。
One of the first of the new super-rich to be targeted was Liu Xiaoqing, a prominent actress in the 1980s who then moved into real estate.

刘晓庆曾被称作是“亿万富姐”,直到她2002年在一场沸沸扬扬的偷税调查中被捕。
She was known as the “billionaire actress” until she was arrested in 2002 in a high-profile investigation into alleged tax evasion.

刘晓庆被拘押了420天,并被勒令补缴近300万美元的税款。
Ms Liu was detained for 420 days and was ordered to pay nearly $3m in back taxes.

两年前,中国当局也对黄光裕控制的一家投资公司进行了调查。
Two years ago, the Chinese authorities also launched a probe into an investment company controlled by Mr Huang.

当时,国内媒体报道称,黄光裕的哥哥黄俊钦也受到了调查。
At the time, local media reported that his brother Huang Junqin was also under investigation.

去年1月份,在宣布调查结束的当日,国美股价大涨12%。
Gome's shares soared 12 per cent one day in January last year when it announced that the investigation had been terminated.

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