1. 写在前面
据业内观察人士称，中国恒大集团通过房地产为其财富管理产品制定的还款计划已经启动，但这家债台高筑的房地产巨头抵御当前清偿危机的前景依然黯淡。今天我们来了解一下具体内容。原文来自Global Times
后台对话框回复“恒大”获得原文全文。
2. 学习要点
1. 第一部分概述事件
2. 第二部分进行具体介绍
3. 第三部分指出社会影响
精读1：事情概述
据业内观察人士称，中国恒大集团通过房地产为其财富管理产品制定的还款计划已经启动，但这家债台高筑的房地产巨头抵御当前清偿危机的前景依然黯淡。
If investors demand for repayment for their investments through property assets, they may contact their investment consultants or go to the local reception sites with their identification cards and investment contracts for consultation and transaction, Evergrande's wealth management unit said late Saturday.
恒大财富管理部门周六晚间表示，如果投资者要求通过房地产资产偿还投资，他们可以联系投资顾问或持身份证和投资合同到当地接待处进行咨询和交易。
据业内观察人士称，中国恒大集团通过房地产为其财富管理产品制定的还款计划已经启动，但这家债台高筑的房地产巨头抵御当前清偿危机的前景依然黯淡。
debt-ridden [ˌdet'ridn] 用作形容词，表示Debt-ridden countries, companies, or people owe extremely large amounts of money.「负债累累的」
例：...the debt-ridden economies of Latin America.... 拉丁美洲负债累累的经济。
weather [ˈwɛðə] 用作动词，表示If you weather a difficult time or a difficult situation, you survive it and are able to continue normally after it has passed or ended.「经受住」
例：The company has weathered the recession.公司度过了萧条期。
精读2：具体介绍
这是恒大就其财富管理产品逾期付款问题提供的三个选择之一。此前数百名来自全国各地的投资者连夜前往公司深圳总部要求偿还总额超过400亿元人民币（合61.9亿美元）的投资。
Evergrande's liquidity problem is believed to have stemmed from the previous credit bubble, which led to the developer's aggressive expansion into a multiple number of sectors. Yet, after the regulators tightened the rules and supervision over the financing channels to rein in irregularities, its capital chain has become strained with liquidity.
恒大的清偿问题被认为源于此前的信贷泡沫，该泡沫导致开发商积极扩张至多个行业。然而，在监管部门加强对融资渠道的监管以遏制违规行为后，其资金链出现清偿紧张。
The company has been bogged down in a liquidity crisis in recent weeks, with a reported estimate of more than $300 billion in liabilities and defaults on several debts.
该公司在最近几周陷入清偿危机，据报道负债预计超过3000亿美元，并有几笔债务违约。
① This is one of the three options Evergrande offered on the overdue payment of its wealth management products after hundreds of investors from across China headed to the company's headquarter in Shenzhen overnight to demand the repayment of their investments which could add up to over 40 billion yuan ($6.19 billion).
这是恒大就其财富管理产品逾期付款问题提供的三个选择之一。此前数百名来自全国各地的投资者连夜前往公司深圳总部要求偿还总额超过400亿元人民币（合61.9亿美元）的投资。
option [ˈɒpʃən] 用作名词，表示An option is something that you can choose to do in preference to one or more alternatives.「供选择的东西」
例：He's argued from the start that the US and its allies are putting too much emphasis on the military option.他从一开始就争论说美国及其盟国过于看重军事这个选项。
常见词组
keep your options open表示If you keep your options open or leave your options open, you delay making a decision about something.「暂不做决定」。例：I am keeping my options open; I can decide in a few months.我保留选择的权利；我可以几个月后再作出决定。
overdue [ˌəʊvəˈdjuː] 用作形容词，表示An overdue library book has not been returned to the library, even though the date on which it should have been returned has passed.「逾期未还的」
例：...a library book now weeks overdue.…一本逾期数周尚未归还的图书馆藏书。
② Evergrande's liquidity problem is believed to have stemmed from the previous credit bubble, which led to the developer's aggressive expansion into a multiple number of sectors. Yet, after the regulators tightened the rules and supervision over the financing channels to rein in irregularities, its capital chain has become strained with liquidity.
恒大的清偿问题被认为源于此前的信贷泡沫，该泡沫导致开发商积极扩张至多个行业。然而，在监管部门加强对融资渠道的监管以遏制违规行为后，其资金链出现清偿紧张。
liquidity [lɪˈkwɪdɪtɪ] 用作名词，表示In finance, a company's liquidity is the amount of cash or liquid assets it has easily available.「资产折现力」
例：The company maintains a high degree of liquidity.这个公司保持着很强的资产折现力。
stem [stɛm] 用作动词，表示If a condition or problem stems from something, it was caused originally by that thing.「起源于」
例：All my problems stem from drink.我所有的问题都是酗酒引起的。
stem的常见义用作动词，表示If you stem something, you stop it spreading, increasing, or continuing.「阻止」
例：Austria has sent three army battalions to its border with Hungary to stem the flow of illegal immigrants.奥地利已派遣3个营到达与匈牙利接壤的边境处，以阻止非法移民的流入。
rein in用作动词词组，表示「控制；放慢；止住」
例：We need to rein back public spending.我们需要严格控制公共开销。
strained [streɪnd] 用作形容词，表示If someone's appearance, voice, or behaviour is strained, they seem worried and nervous.「紧张的」
例：She looked a little pale and strained.她看上去面色有点儿苍白，神情紧张。
精读3：社会影响
总部位于北京的投资银行香颂资本(Chanson & Co.)董事沈萌表示：“恒大仍有庞大的资产足以支付其负债，因此，除了帮助金融机构展期部分贷款外，政府在现阶段没有必要干预。”
"Evergrande needs to solve its debt problem by itself, even if it may suffer some losses by selling some assets. It needs to lower its leverage ratio urgently," Shen said.
沈萌表示：“恒大需要自己解决债务问题，即使它可能因出售部分资产而蒙受损失。它迫切需要降低杠杆率。”
① "Evergrande still has huge assets enough to cover its liabilities, so except for helping financial institutions to roll over some loans, there is no need for the government to intervene at the current stage," noted Shen, director of Beijing-based boutique investment bank Chanson & Co.
总部位于北京的投资银行香颂资本(Chanson & Co.)董事沈萌表示：“恒大仍有庞大的资产足以支付其负债，因此，除了帮助金融机构展期部分贷款外，政府在现阶段没有必要干预。”
intervene [ˌɪntəˈviːn] 用作动词，表示If you intervene in a situation, you become involved in it and try to change it.「干预」
例：The situation calmed down when police intervened.警察干预后，局势平静了下来。
boutique [buːˈtiːk] 用作名词，表示A boutique is a small shop that sells fashionable clothes, shoes, or jewellery.「时尚精品小店；精品店」
② "Evergrande needs to solve its debt problem by itself, even if it may suffer some losses by selling some assets. It needs to lower its
leverage ratio urgently," Shen said.
沈萌表示：“恒大需要自己解决债务问题，即使它可能因出售部分资产而蒙受损失。它迫切需要降低杠杆率。”
leverage ratio用作词组，表示「杠杆率；杠杆借贷比率」。例：Like other banks, Deutsche also argues that a simple leverage ratio is not much use in assessing the risks that lenders take.与其他银行一样，德行也争论道，说简单杠杆率在评估贷方承担的风险时并无大用。
今日练习
原文始发于微信公众号（时光暖流）：恒大要完了？| 外刊精读
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