中國股市高頻交易退潮範例

A “traffic-straddling” Chinese bus project that was touted as a solution to road congestion has been scrapped amid allegations of illegal fundraising, with authorities claiming it was used as a lure to sell financial products.
中國一個曾被吹噓爲道路擁堵解決方案的高架巴士項目在非法集資的指控聲中夭折。有關部門稱，該項目被用作一個誘餌，目的是銷售金融產品。

The futuristic bus, known as the “batie”, became an internet sensation last year after it was marketed as a solution to China’s notoriously clogged roads.
這款被稱爲“巴鐵”、具有未來世界風采的巴士，去年在互聯網上轟動一時，被譽爲中國出了名的道路堵塞的解決方案。

However, many people doubted the practicality of an elevated bus that allows lanes of cars to flow underneath it, but was too low for trucks to fit.
然而，許多人當時就懷疑一款高架巴士的實用性，它將讓汽車的車流在其下方流動，但對卡車來說淨空高度仍然不夠。

The project hit a further speedbump when Chinese media alleged that Bai Zhiming — chief executive of the Transit Elevated Bus company — was using the technology as a vehicle to lure investors into buying financial products sold on funding platforms.
中國媒體發表的指控使該項目觸及又一個“減速路障”；這些指控稱，巴鐵公司首席執行官白志明把該技術用作一個工具，吸引投資者購買融資平臺上銷售的金融產品。

On Sunday Chinese authorities said they had launched a probe into the company for alleged illegal fundraising through Huaying Kailai, an online financing platform founded by Mr Bai.
中國有關部門週日表示，白志明創立的在線融資平臺“華贏凱來”涉嫌非法集資，已對其展開調查。

Huaying Kailai had raised Rmb130m ($19m) as of the end of 2016 at a 12 per cent annual interest rate for the development of the bus, Chinese media reported last year. Mr Bai was among 32 people detained over the past week, according to police in Beijing.
據中國媒體去年報道，截至2016年底，華贏凱來打着開發這款巴士的旗號，以12%的年利率籌集了1.3億元人民幣（合1900萬美元）。據北京警方介紹，白志明是過去一週內被拘留的32人之一。

Mr Bai could not be reached for comment and the project’s former chief engineer did not respond to messages.
記者聯繫不上白志明請其置評，該項目的前總工程師沒有回覆留言。

The axing of the elevated bus project comes as Chinese authorities look to crack down on the use of shadow banking products to fund overseas acquisitions.
高架巴士項目被砍之際，中國當局也在打擊利用影子銀行產品爲境外收購提供資金的做法。

Last month, the head of insurer Anbang was detained as regulators warned against the systemic risks posed by high-interest fundraising. The collapse of high-interest Chinese fundraising schemes in 2015, including the Ezubao peer-to-peer lending scheme and the Fanya metals fundraising scheme, prompted investor protests in the streets.
上月，安邦保險掌門人被帶走，同時監管機構就高利率籌資所構成的系統性風險發出警告。2015年中國幾個高利率集資計劃的崩潰——包括e租寶(Ezubao)和泛亞有色金屬交易所(Fanya Metals Exchange)——促使投資者走上街頭抗議。

The elevated bus prototype — an electric vehicle 22m long, 7.8m wide and 4.8m high that could hold 300 passengers — appeared to enjoy some official support.
高架巴士的原型車（一款長22米、寬7.8米、高4.8米，可容納300名乘客的電動巴士）似乎得到了一些官方支持。

It was supposed to be tested in Beidaihe, the seaside resort where China’s top political leaders and retired Communist party elders retreat each summer. The government of Qinhuangdao city, which includes Beidaihe, signed a memorandum of understanding for the company to invest Rmb10bn ($1.5bn) in the project.
該車原計劃在北戴河進行測試，那裏是中國最高政治領導人和已退休黨內老同志的海濱避暑勝地。轄區包括北戴河的秦皇島市政府曾與巴鐵公司簽署戰略合作協議，協議顯示，巴鐵公司將投資人民幣100億元（合15億美元）用於巴鐵項目建設。

Mr Bai purchased the “batie” trademark from its inventor with the intention of entering public-private partnerships (PPP) with local governments, he told the FT last year. But his main business appeared to be online fundraising platforms.
白志明在去年告訴英國《金融時報》，他從發明者那裏買下了“巴鐵”商標，打算與地方政府建立公私夥伴關係(PPP)。但他的主要業務似乎是在線集資平臺。

Another of his organisations, an association founded to facilitate PPP projects, was included in a Ministry of Civil Affairs list of “fake social organisations”.
他名下的另一個組織，一個號稱爲促進PPP項目而成立的協會，早就被中國民政部列入“山寨社團”名單。

The first sign of official action against the project came last month, when pilot tracks in Beidaihe were ripped up.
官方對該項目採取行動的第一個跡象在上月出現，當時在北戴河鋪設的試驗軌道被拆除。