Chinas Citic Bank is in talks to take a stake in Bear Stearns, a senior Communist party official revealed yesterday.
在中共十七大中央金融系統代表團討論會上，中國銀監會副主席蔣定之不經意間宣布了中信銀行的回收意圖。
Jiang Dingzhi, vice-chairman of the China Banking1 Regulatory Commission, casually2 announced Citics intentions during a presentation on the governments achievements to the countrys TOP financial officials at the 17th Communist Party Congress in Beijing.
中信銀行董事長、中信集團公司副董事長常振明拒絕透露更多具體內容，但他沒不承認上述言論，并在會后表示：（談判）現在尚未獲得實質性進展。
Chang Zhenming, director of Citic Bank and vice-chairman of its parent group, refused to give any further details but did not deny the comments and said after the meeting: There has been no substantive3 progress [in negotiations4].
昨日的這類言論初次正式證實了中信銀行期望購入貝爾斯登的股權。紐約市場午盤，這家美國投資銀行的股價上漲1.6%，至122.63USD。
Yesterdays comments were the first official /confirm/iation5 that Citic wants to buy a stake in Bear. The US investment banks shares rose 1.6 per cent to $122.63 by midday in New York.
自貝爾斯登今年夏天遭到信貸緊縮的沖擊以來，有關該銀行將引入一家少數股權投資者的猜測便日益升溫。因為積極參與了美國抵押擔保證券市場的投資，貝爾斯登第三季度收益降低了61%。
Speculation6 about a possible minority investor7 in Bear has mounted since it was battered8 by the summer credit squeeze which, because of the banks heavy exposure to the US mortgage-backed securities market, led to a 61 per cent drop in third-quarter earnings9.
除此之外，旗下資產管理部門經營的兩只與抵押貸款有關的對沖基金在今年夏天破產，也讓貝爾斯登陷入了尷尬處境。
Bear also suffered the embarrassing collapse10 this summer of two mortgage-related hedge funds run by its asset management unit.
中國的一位銀行人士表示，貝爾斯登去年曾與中國建設銀行就可能的合作進行了談判，但因為一些中國高級官員的反對，談判最后破裂。這類官員感到自己在談判過程中被忽視了。
Last year Bear held talks with China Construction Bank about a potential tie-up, but negotiations fell apart due to opposition11 from senior Chinese officials who felt left out of the process, according to one Chinese banker.
主持那些談判的顯然也是常振明，他當時擔任建行行長。談判內容包含建行購入貝爾斯登的可轉換債券，這類債券可轉換成貝爾斯登低于20%的股權。
Those negotiations were also apparently12 led by Mr Chang, who was president of CCB at the time, and involved the Chinese bank buying convertible13 bonds that could be translated into an equity14 stake of up to 20 per cent in Bear.
在經過一輪重組和初次公開發行后，多數中國大型銀行現在都擁有充沛的現金。今年早些時候，中信銀行在上海進行了IPO，集資54億USD。同時，中國政府一直積極鼓勵國內銀行購入國際金融機構的股權。
Most big Chinese banks are flush with cash after a spate15 of restructurings and initial public offerings. Citic raised $5.4bn in an IPO in Shanghai earlier this year. The Chinese government, meanwhile, has been actively16 encouraging banks to buy stakes in international institutions.