NEWS ON 03/14

1.SHANGHAI LAWMAKERS RETURN FROM BEJING

两会：上海代表团圆满完成大会各项议程返沪

2.SVB’S COLLAPSE - WHERE IT CAME FROM AND WHAT IT COULD WIND UP MEANING

硅谷银行倒闭与美金融模式之困

3.CHINA STRONGLY OPPOSES AUSTRALIA, U.K., AND U.S. NUCLEAR SUBMARINES PLAN

外交部：中方坚决反对美英澳核潜艇合作计划

-----------------记得点亮右下角的爱心哦-----------------

1.SHANGHAI LAWMAKERS RETURN FROM BEJING

两会：上海代表团圆满完成大会各项议程返沪

Shanghai law-makers attending this year’s National People’s Congress in Beijing returned to the city last night. Tang Xiaofan has more.

出席十四届全国人大一次会议的在沪全国人大代表于昨晚（3月13日）返回上海。记者唐晓帆带来更多报道。

Deputies arrived at Hongqiao International Airport at 8pm yesterday, and took a shuttle bus to Shanghai Exhibition Center, where their Two Sessions journey started.

昨晚8点，代表们抵达虹桥国际机场，随后乘班车，回到两会之旅的起点——上海展览中心。

Shan Weixiang, Deputy to The National People's Congress, Resident Vice President and Director-General of The China Christian Council

单渭祥全国人大代表、中国基督教协会驻会副会长兼总干事

“这次我们很激动，我是第一次（当）代表，所以一切都是比较新鲜。”

"We were very excited. This was my first time to serve as a deputy of the national people’s congress. Everything was new to me."

Chen Da, Deputy of The National People's Congress, Manager of Energy Exhibition Department of Donghao Lansheng Group Shanghai Industrial Commercial Exhibition Co., LTD

陈达全国人大代表、东浩兰生集团上海工业商务展览有限公司能源展部经理

“八天半的会程，让我真切地感悟到了全过程人民民主、人民至上的精神的体现。”

"The Two Sessions lasted eight and a half days, during which I truly grasped the essence of whole-process people’s democracy【民主】 and the spirit of putting people first."

The Shanghai delegation attending this year’s two sessions submitted 13 bills that focused on economic development, urban construction, opening-up, social governance, democracy and the rule of law. The delegation also submitted 117 suggestions on the economy, social issues, culture and ecological protection.

本次大会，上海代表团共提交13项议案，涉及经济发展、城市建设、改革开放、社会治理、民主法治等领域。此外，代表团还就经济、社会、文化、生态保护等问题提交了117条建议。

Mei Bing, Deputy to The National People's Congress and Party Secretary of East China Normal University

梅兵全国人大代表、华东师范大学党委书记

“对我们教育工作者来说，我们的任务就是要思考和践行如何来推进中国式教育现代化，来全面提高人才自主培养的质量。”

"For educators, our task is to explore ways to advance the educational modernization with Chinese characteristics. We should work to improve the overall quality of talent cultivation."

Xu Baoyun, Deputy to The National People's Congress and Chief Engineer of Shanghai Chemical Research Institute Co., LTD

许保云全国人大代表、上海化工研究院有限公司总工程师

“希望在后续的工作中，能够更好地发挥科技创新、支持我们的产业高质量发展方面多作贡献。”

"We will make every effort to allow scientific and technological innovations to flourish【繁荣】, and provide more support to promote high-quality development of the chemical industry."

Deputies also called for advancing reform and opening up, as well as improving residents’ livelihoods.

代表们还提出要推进改革开放，改善居民生活。

2.SVB’S COLLAPSE - WHERE IT CAME FROM AND WHAT IT COULD WIND UP MEANING

硅谷银行倒闭与美金融模式之困

A dramatic bank collapse in the United States Friday morning capped a stunning 48 hours in which Silicon Valley Bank suffered a run on its deposits followed by a capital crisis. California regulators immediately closed down the tech-lender and put its accounts under the control of the US Federal Deposit Insurance Corporation. Our reporter Zhang Shixuan tracks the reasons behind the failure and looks at some potential market impacts.

周五（3月10日）上午，美国硅谷银行突然倒闭。在这48小时内，硅谷银行遭遇了存款挤兑和资本危机。加州监管机构立即关闭了这家银行，并将其账户置于美国联邦存款保险公司的控制之下。记者张诗旋追踪了银行破产背后的原因，并研究了该事件潜在的市场影响。

For the past 4 days, the financial world has been focused on the collapse of Silicon Valley Bank - one of the 20 largest banks in the US. The US Federal Reserve’s fastest rate-hiking cycle in 4 decades has been a scourge【灾难】 to the banks, triggering a plunge in their bond value. The U.S. Total Bond Index lost 13 percent last year.

在过去的4天里，美国最大的20家银行之一——硅谷银行的倒闭一直牵动着金融界的神经。美联储40年来最快的加息周期对银行来说是一场灾难，引发了银行债券价值的暴跌。去年，美国债券总指数下跌了13%。

Since last March, the US Federal Reserve has undertaken 8 interest rate hikes in a row to stem inflation, bringing the country’s headline interest rate to between 4.5 and 4.75 percent. While that high level has raised worldwide concern, it has failed to stem American inflation【通货膨胀】 and few expected it to have this dramatic an impact - the collapse of some of the weakest members of the US banking system - tech-centric banks.

自去年3月以来，美联储已经连续8次加息以遏制通货膨胀，使基准利率达到4.5%至4.75%之间。尽管基准利率之高令世界瞠目，但其仍未能遏制美国的通货膨胀。而且几乎没人预料到它会产生如此巨大的影响，竟导致美国银行体系中的最脆弱的银行——以科技金融业务为中心的银行倒闭。

Jimmy Zhu, Chief Strategist of Fullerton Research

祝浩首席策略师 富乐敦研究公司

"The tech sector is the most sensitive to the tech interest rates among all the different sectors. You see the NASDAQ index, which is all the tech companies are most sensitive to the US Treasury. In the pandemic period in the past 2 years, the Fed cut the interest rate to zero and pushing lots of bond purchases and stimulus into the economy. And when the inflation rises, they still put in the interest rate at zero range and also the large size of the stimulus to there."

“在所有不同行业中，科技行业对利率最为敏感。纳斯达克指数就说明了科技公司对美国国债最为敏感。在过去两年的新冠疫情大流行期间，美联储将利率降至零，并造成大量债券购买，为经济提供刺激。当通货膨胀上升时，他们仍然把利率保持在零，并加大经济刺激。”

Just two days after authorities shuttered SVB, New York-based Signature Bank became the next casualty of banking turmoil, again stemming in part from the FED’s aggressive rate hikes.

就在美国监管机构关闭硅谷银行两天后，总部位于纽约的“签名银行”（Signature Bank）成为银行业动荡的下一个受害者，倒闭部分原因同样是美联储的大举加息。

Fallout from the two bank failures has raised concern about overall leverage in the country’s financial system. At the end of last year, US banks were sitting on 620 billion dollars in unrealized losses.

两家银行倒闭的余波引发了人们对美国金融体系整体杠杆率的担忧。去年年底，美国银行的未实现亏损高达6200亿美元。

The Federal Reserve, the Treasury Department and the Federal Deposit Insurance Corporation have all announced they will safeguard depositors at Silicon Valley Bank and Signature Bank, with a 100-billion-US-dollar Deposit Insurance Fund. But the real worry is, if there’s more to come, will that be able to cover all the losses.

美联储、美国财政部和美国联邦存款保险公司都宣布将为硅谷银行和签名银行的储户提供1000亿美元的存款保险基金。但真正让人担心的是，如果还有更多的资金流入，这些资金能否弥补所有损失。

Jimmy Zhu, Chief Strategist of Fullerton Research

祝浩首席策略师 富乐敦研究公司

"Now the big issue is whether this is the SVB single case or it’s there will be other regional banks faced a similar issue. I think that is the question not many people really aware that different banks, although they have a different situation, different backgrounds, some banks, their stocks is falling recently in the US, but it seems like their portfolio is more diversified compared to SVB so I think the FED is really in a very difficult situation at this moment. This is not very good thing for the market because it raised the policy uncertainties."

“现在最大的问题是，这是硅谷银行的个案，还是会有其他地区银行面临类似的问题。我认为很多人并没有真正意识到，不同的银行尽管情况和背景不同，其在美国的股票最近都下跌。但似乎他们的投资组合比硅谷银行更多样化，所以我认为美联储目前确实处于一个非常困难的局面。这对市场来说不是很好，因为其增加了政策的不确定性。”

While global investment banks and asset managers were expecting another rate hike this month, following this round of turmoil some including Goldman Sachs believe the Fed will now have to back off its anti-inflation plans. The next meeting at which the Fed might make a rate adjustment is just about a week ahead.

尽管全球投行和资产管理公司预计本月将再次加息，但在本轮动荡之后，包括高盛集团在内的一些机构认为，美联储现在将不得不放弃其反通胀计划。美联储可能调整利率的会议就在大约一周之前。

Jimmy Zhu, Chief Strategist of Fullerton Research

祝浩首席策略师 富乐敦研究公司

"If the Federal Reserve paused to raise the interest rate, I think the one very key area is now the inflation in the US is still very high. Even they pause, probably if the crisis is solved, probably there will be still more voices calling for Federal Reserve to continue raise the interest rates. So the environment and the inflation picture will be more complicated. I think it’s also involved with the FED credibility. They also mentioned that they will continue to act to what they can do to curb the inflation towards their 2% target."

“如果美联储暂停加息，我认为一个非常关键的事是现在美国的通胀仍然很高。暂停后，危机可能解决了，但还会有更多的声音要求美联储继续提高利率。因此，大环境和通胀情况将更加复杂。我认为这也与美联储的公信力有关。他们还提到，将继续尽其所能将通货膨胀率控制在2%的目标水平。”

Following the SVB collapse, 4 of the US’s biggest banks lost a combined 55 billion US dollars in market value in a single day. Bank stocks have continued to dive, and the banking turmoil and resulting uncertainty have spread concern to markets in Europe and Japan, where the Topix Banks Index fell as much as 7.4 percent today.

硅谷银行破产后，美国最大的4家银行单日市值总计缩水550亿美元。银行股继续下跌，银行业动荡和由此产生的不确定性已引起欧洲和日本市场的担忧。周二，东证银行指数跌幅高达7.4%。

3.CHINA STRONGLY OPPOSES AUSTRALIA, U.K., AND U.S. NUCLEAR SUBMARINES PLAN

外交部：中方坚决反对美英澳核潜艇合作计划

China today expressed its strong opposition to an agreement between Australia, the United Kingdom and the United States to construct a new fleet of nuclear-poweredsubmarines【潜艇】, saying the plan disregards the concerns of the international community and poses risks for nuclear proliferation. Tang Xiaofan has more.

3月14日，中国对澳大利亚、英国和美国达成的核潜艇合作计划表示强烈反对，称该计划无视国际社会关切，并存在核扩散风险。记者唐晓帆带来详细报道。

U.S. President Joe Biden announced a major plan for nuclear submarine cooperation in San Diego along with Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak. Under the AUKUS deal announced in 2021, the United States and the United Kingdom agreed to provide Australia with the technology and capability to build nuclear-powered submarines. Australia is buying three, -possibly up to five, Virginia-class boats as part of deal. Under the AUKUS partnership, a future generation of submarines will be built in Britain and in Australia with U.S. technology and support. Biden emphasized the ships would not carry nuclear weapons of any kind. Chinese Foreign Ministry spokesperson Wang Wenbin said at a regular briefing that the nuclear submarines plan is a typical Cold War mentality and will only help to motivate an arms race.

美国总统乔·拜登在圣地亚哥与澳大利亚总理安东尼·阿尔巴尼斯、英国首相里希·苏纳克共同宣布了核潜艇合作的重大计划。根据2021年美英澳宣布建立的“三边安全伙伴关系”（AUKUS）协议，澳大利亚将借助美英两国技术打造核动力潜艇舰队。作为AUKUS协议的一部分，澳大利亚预计将购买多达5艘美国“弗吉尼亚”级核潜艇。根据AUKUS合作关系，未来一代潜艇将在美国的技术和支持下在英国和澳大利亚建造。拜登强调，这些潜艇上不会有任何类型的核武器。中国外交部发言人汪文斌在例行记者会上表示，核潜艇计划是是典型的冷战思维，加剧了亚太的军备竞赛。

Wang Wenbin, Spokesman for China's Foreign Ministry

汪文斌中国外交部发言人

“美英澳三国核潜艇合作涉及核武器国家，向无核武器国家转让大量武器级高浓铀，构成严重核扩散风险，违反不扩散核武器条约的目的和宗旨。三国声称将遵守最高核不扩散标准，纯属欺世盗名。”

"The nuclear submarine cooperation between the United States, the United Kingdom and Australia involves nuclear-weapon states, and the transfer of large quantities of highly enriched uranium to non-nuclear-weapon states, posing a serious risk of nuclear proliferation and violating the object and purpose of the Treaty on the Non-Proliferation of Nuclear Weapons. The three countries claim that they will abide by the highest nuclear non-proliferation standards, which is pure deception."

Wang said China urges the three countries to listen to the calls of the international community and countries in the region, and refrain from doing things that undermine world peace and stability.

汪文斌表示，中方敦促三国倾听国际社会和地区国家的呼声，不要做破坏地区和世界和平稳定的事。

#热词加油站

democracy /dɪˈmɑːkrəsi/【民主】

flourish /flɜːrɪʃ/【繁荣】

scourge /skɜːrdʒ/【灾难】

inflation /ɪnˈfleɪʃn/【通货膨胀】

submarine /ˌsʌbməˈriːn/【潜艇】

订阅我们，打卡每日精选英语新闻！

不定期投放“精品大咖访谈”

喜欢生肉贴的小伙伴，可以常来逛逛哟～

03/15 TOP NEWS | 上海代表团返沪/硅谷银行倒闭与美金融模式/美英澳核潜艇合作 07:47 Share

魔都英语新闻丨ShanghaiLive

Shownotes Transcript

03/15 TOP NEWS | 上海代表团返沪/硅谷银行倒闭与美金融模式/美英澳核潜艇合作