Chinese direct investment offshore is at the beginning of an exponential take-off, according to a report, with the country’s businesses poised to accumulate between $1,000bn and $2,000bn in assets around the world by 2020.

　　一份報(bào)告稱，中國(guó)的海外直接投資正處在一輪指數(shù)級(jí)飆升的起點(diǎn)，到2020年，中國(guó)企業(yè)將在世界各地積累1萬(wàn)億至2萬(wàn)億美元資產(chǎn)。

　　However, the report, published by the Asia Society, which focuses on Chinese investment into the US, says that political antagonism, especially from Congress, could have a "chilling effect" on flows into America.

　　不過(guò)，由美國(guó)亞洲協(xié)會(huì)(Asia Society)發(fā)表的這份主要關(guān)注中國(guó)對(duì)美投資的報(bào)告表示，政治對(duì)抗心態(tài)、尤其是美國(guó)國(guó)會(huì)的對(duì)抗心態(tài)，可能對(duì)流向美國(guó)的投資產(chǎn)生一種“寒蟬效應(yīng)”。

　　Chinese investment into the US is already doubling every year and the failure of the US to capitalise on a wave of future flows will damage its economy and jobs market, the report says.

　　報(bào)告稱，中國(guó)對(duì)美投資已經(jīng)在呈現(xiàn)每年翻倍的增長(zhǎng)，若美國(guó)不能利用未來(lái)將迎來(lái)的大量中國(guó)投資，將不利于美國(guó)經(jīng)濟(jì)和就業(yè)市場(chǎng)。

　　By the end of 2009, the total stock of Chinese investment offshore stood at about $230bn, on a par with Denmark and slightly higher than Taiwan.

　　截至2009年底，中國(guó)大陸海外直接投資的存量總計(jì)約2300億美元，與丹麥相當(dāng)，略高于臺(tái)灣。

　　Although exact figures are hard to come by, Chinese purchases of short-term US financial assets, mainly Treasury bonds and other securities, tower over direct investment and already exceed $1,000bn.

　　雖然難以獲得準(zhǔn)確數(shù)據(jù)，但中國(guó)方面購(gòu)買的美國(guó)短期金融資產(chǎn)（主要是國(guó)債和其它證券）已超過(guò)1萬(wàn)億美元，遠(yuǎn)遠(yuǎn)多于直接投資。

　　Chinese investment offshore began to take-off in the last decade, spurred primarily by the drive to secure resources and a need to deploy productively the huge cash reserves accumulated through exports and profits at home.

　　中國(guó)的海外直接投資是在過(guò)去10年里開(kāi)始起飛的，其動(dòng)機(jī)主要是獲取資源、以及有必要以高成效的方式利用巨大的現(xiàn)金儲(chǔ)備，這些儲(chǔ)備是通過(guò)出口和本土市場(chǎng)的利潤(rùn)積累起來(lái)的。

　　The Chinese already have a business presence in 35 out of the 50 states in the US, with the largest concentration of investments in Texas, New York and Virginia. The largest category by value is industrial machinery.

　　中國(guó)已經(jīng)在美國(guó)50個(gè)州中的35個(gè)州擁有業(yè)務(wù)地盤，其中投資最集中的是得克薩斯州、紐約州和弗吉尼亞州。按價(jià)值計(jì)算，最大的投資類別是工業(yè)機(jī)械。

　　But China remains a relatively small player overall as an investor into the US, with the world’s second largest economy still on a par with New Zealand and Austria.

　　但整體而言，中國(guó)仍是相對(duì)較小的對(duì)美投資者。在這方面，全球第二大經(jīng)濟(jì)體只與新西蘭和奧地利相當(dāng)。

　　The report says that many Americans wrongly believe that the heavy state role in the Chinese economy means that investment is driven largely by political subterfuge rather than the profit motive.

　　報(bào)告稱，許多美國(guó)人錯(cuò)誤地相信，政府在中國(guó)經(jīng)濟(jì)中扮演的重量級(jí)角色意味著，中國(guó)對(duì)美投資的主要驅(qū)動(dòng)因素是政治花招，而非盈利動(dòng)機(jī)。

　　But the authors, Daniel Rosen and Thilo Hanemann, say the Chinese also need to be reminded that the country’s own opaque political system is a barrier to building trust in the US.

　　但報(bào)告作者榮大聶(Daniel Rosen)和赫恩曼(Thilo Hanemann)指出，同樣需要提醒中國(guó)方面的是，中國(guó)自身不透明的政治體制，對(duì)于在美國(guó)構(gòu)建信任是一個(gè)障礙。

　　“Americans can hardly be blamed for wondering what the bottom line is if the top executives of China's state-owned companies are appointed by and beholden to the Communist party, business decisions are routinely subjected to political considerations and firms are larded with loans regardless of their business prospects,” the report says. “

　　如果中國(guó)國(guó)有企業(yè)的高層主管由共產(chǎn)黨任命、需報(bào)共產(chǎn)黨之恩，如果商業(yè)決定經(jīng)常受到政治考慮的左右，如果企業(yè)無(wú)論商業(yè)前景如何都能得到大量貸款，那就很難責(zé)怪美國(guó)方面揣測(cè)一切究竟是怎么回事，”報(bào)告表示。

　　"While this opacity may be about shrouding the profit streams of privileged individuals more than anything else, American screeners [of investment proposals] cannot discreetly avert their gaze and Chinese regulators and bureaucrats do.”

　　“盡管這種不透明也許主要是為了掩蓋特權(quán)人士的利潤(rùn)流，而不是出于其它目的，但美國(guó)方面負(fù)責(zé)審查（投資提議）的人不可能像中國(guó)監(jiān)管者和官僚那樣，識(shí)相地把目光轉(zhuǎn)向別處。”

　　The US and China have long discussed the outlines of a bilateral investment treaty, but it is not expected to be high on the agenda of next week's top-level dialogue between the two countries in Washington.

　　美國(guó)和中國(guó)討論一項(xiàng)雙邊投資條約的框架已有多年，但在下周兩國(guó)于華盛頓舉行高層對(duì)話期間，這個(gè)問(wèn)題預(yù)計(jì)不會(huì)在議程上被列為主要事項(xiàng)。

　　While the Chinese have complained about investment barriers, Beijing recognises raising such complaints would draw a strong push back about what the US regards as multiple obstacles to foreign companies doing business in China.

　　盡管中國(guó)曾對(duì)美國(guó)的投資壁壘提出抱怨，但北京方面意識(shí)到，在會(huì)上提出這樣的抱怨，將引發(fā)美方的強(qiáng)烈反彈：在美國(guó)看來(lái)，外國(guó)企業(yè)在華開(kāi)展業(yè)務(wù)面臨多重障礙。

　　The report says most of the growth of Chinese investment into the US since 2008 has been in manufacturing. Real estate purchases have also been growing, but they are under reported.

　　報(bào)告指出，自2008年以來(lái)，中國(guó)對(duì)美投資的增長(zhǎng)主要是在制造業(yè)。房地產(chǎn)投資也在增長(zhǎng)，但投資額低于外界的報(bào)道。