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中共国的红色资本怎样影响香港的政治 【中英对照翻译】

新闻来源:hkfp《香港自由新闻》|作者:Heidi Wang-Kaeding;

翻译、简评:Cathy r|校对:1818|審核:海阔天空|PAGE:玄天生;

简评:

红色资本指的是大陆来的资本,并不是权贵资本,所以很宽泛。中共国一直想用“一个国家”的统治模式,利用香港和外国联系的“两种制度”,得到两种制度的好处。过去的二十年中共国一直是这样发展。随着爆料革命的进行,美国对香港的制裁,终于要为这种利用模式画上句号。

原文翻译

Red capital: How Chinese companies exert political influence over Hong Kong

红色资本:中共国公司如何对香港施加政治影响

To Hong Kong’s pro-democracy protesters, the passing of a new US law that removes Hong Kong’s special economic status fits into their scorched earth, or laam caau, strategy. At its core is the protesters’ belief that the Chinese government has rigged the “one country, two systems” model in Hong Kong and that the current economic and political system must be reconfigured.

对于香港支持民主的抗议者来说,美国通过一项新的法律来取消香港的特殊经济地位,符合他们的焦土(laam caau,直译为“揽炒”,意思是与别人同归于尽)战略。其核心是抗议者认为,中共国政府操纵了香港的“一国两制”模式,当前的经济和政治制度必须重新配置。

Protesters are pleased that Hong Kong will no longer be treated differently to other Chinese cities under the new US Hong Kong Autonomy Act, and that the US can now impose economic sanctions on Hong Kong and Chinese officials for human rights violations. The banks doing business with these officials can also be penalised.

抗议者感到高兴的是,根据新的《美国香港自治法》(US Hong Kong Autonomy Act),香港将不再受到与中共国其他城市不同的待遇,美国现在可以对香港和中共国官员的侵犯人权行为实施经济制裁。与这些官员做生意的银行也会受到惩罚。

Hong Kong Stock Exchange. File photo: inmediahk.net.

香港证券交易所. 图片來源:inmediahk.net.

The rationale behind the new law is that the role of Chinese “red capital” in Hong Kong has become more and more political over the past few decades. As a response, the new US law aims to remove the privilege Chinese companies enjoyed by listing in Hong Kong, and deprive China’s authoritarian regime of the financial advantages Hong Kong benefited from due to its special status.

新法律背后的理由是,中共国“红色资本”在香港的作用在过去几十年中变得越来越具政治性。作为回应,新的美国法律旨在取消中共国公司在香港上市所享有的特权,并剥夺中共国专制政权因香港的特殊地位而受益的金融优势。

Red capital flows in Hong Kong

香港的红色资本流动

Red capital refers to money from mainland China. In Hong Kong, much of this Chinese capital flows through companies registered at the Hong Kong Stock Exchange (HKEX), either as what are called red chips or H-share stocks. Red chips are Chinese companies incorporated outside the mainland and listed in Hong Kong, while H-share companies are incorporated in mainland China and are usually also listed on the Shanghai or Shenzhen stock exchanges.

红色资本是指来自中共国大陆的钱。在香港,这些中共国资本大部分通过在香港证券交易所(HKEX)注册的公司流动,被称为红筹股或H股股票。红筹股是在大陆以外注册并在香港上市的中共国公司,而H股公司在中共国大陆注册并通常也在上海或深圳证券交易所上市。

In the 1980s, ahead of the planned handover of Hong Kong from the UK to China in 1997, the Chinese Communist Party tried to slow down the outflow of British capital, entice foreign investors and cultivate mainland capital flows into Hong Kong. The listing of Chinese private companies at the HKEX began to grow moderately from the 1990s. The technology company Lenovo, for instance, was listed in Hong Kong in 1994, three years before the handover. Since 2013, companies from China have made up around half of HKEX-listed stocks.

在20世纪80年代,在计划于1997年将香港从英国移交给中共国之前,中共国共产党试图减缓英国资本的外流,吸引外国投资者,并培育内地资本流入香港。 在香港交易所上市的中共国私营公司从上世纪90年代开始适度增长。例如,联想(Lenovo)科技公司于1994年在香港上市,这是在香港交还中共国前三年。自2013年以来,来自中共国的公司占香港交易所上市股票的一半左右

Photo: Nyker via Shutterstock.

片:Nyker通过水牛头。

In a recent study, my colleague and I categorised 377 mainland companies listed on the HKEX between 1972 and 2017 as state-owned enterprises (SOEs) or private enterprises. There were 298 SOEs – 79% of all the red capital companies listed during this period – covering sectors from the extractive industries, energy, machinery, aviation, telecommunications, transport and real estate.

在最近的一项研究中,我和我的同事将1972年至2017年在香港交易所上市的377家大陆公司归类为国有企业(SOEs)或私营企业。有298家国有企业——占在此期间上市的所有红色资本公司的79%——涉及采掘业、能源、机械、航空、电信、运输和房地产等行业。

Among these SOEs were centrally owned companies such as China Ocean Shipping Company, whose personnel is controlled directly by officials within the Organisational Department of the Chinese Communist Party. There were also SOEs owned by local governments, such as Tsingtao Brewery Co Ltd, owned by the city of Qingdao. Unlike the centrally owned state companies, which have political and diplomatic goals, the business decisions in these locally owned companies are geared towards the fiscal needs of local jurisdictions and so are primarily concerned with maximising profits.

在这些国有企业中,有中共国远洋运输公司(China Ocean Shipping Company)等中央国有企业,其人员由中共国共产党组织部门的官员直接控制。还有一些地方政府拥有的国有企业,如青岛啤酒有限公司(Tsingtao Brewery Co Ltd),属于青岛市。与具有政治和外交目的的中央国有公司不同的是,这些地方国有公司的商业决策是针对地方管辖范围的财政需要,因此主要涉及利润最大化。

Capital as control

资本作为控制

China clearly sees the reshuffle of capital in Hong Kong as a political task. Yet, the flow of capital, regardless of its colour, is difficult to control. This means the “redness” of capital from the mainland into Hong Kong comes from the political control these companies are able to wield over their employees and partners.

中共国显然将香港的资本重组视为一项政治任务。然而,资本流动,无论其颜色如何,都难以控制。这意味着从内地到香港的资本的“红”色来自这些公司可以对其员工和合作伙伴进行政治控制。

Finance Street, Central. Photo: Wikicommons.

中环金融街. 图片:Wikicommons.

There are an estimated 80,000 employees in Hong Kong working for companies controlled by Chinese capital. Political influence happens via various mechanisms and at different levels of seniority, from ordinary employees to the executive board level.

在香港,估计有8万名雇员在中共国资本控制的公司工作。政治影响通过各种机制和不同级别的资历产生,从普通雇员到执行理事会。

In Hong Kong’s 2016 Legislative Council election, recruits from the Bank of China and China Resources Land were instructed to vote for patriotic candidates. The Hong Kong Chinese Enterprise Association also disseminated a list of candidates preferred by Beijing to its members.

在2016年香港立法会选举中,中国银行(Bank of China)和华润置地(China Resources Land)的新成员被指示投票给爱国(党)候选人。“香港中共国企业协会”(Hong Kong Chinese Enterprise Association)还给成员分发了一份由北京推荐的候选人名单

Since then, political control has evolved into other types of coercion. Most recently, employees of Chinese companies in Hong Kong were forced to take a stance on Hong Kong’s controversial new security law: support the legislation or leave. Neutrality was not an option.

此后,政治控制演变为其他类型的胁迫。最近,中共国公司在香港的员工被迫对香港有争议的新《安全法》选择立场:支持立法或离开。中立不是一种选项。

Logic of loyalty

忠诚的逻辑

Those in the higher echelons of red capital companies are managed by the logic of loyalty. It’s common for Chinese companies, especially in the financial sector, to parachute managers from the mainland into Hong Kong. Senior Chinese managers are often rotated or transferred into government and party roles by the Chinese Communist Party, making loyalty key to a person’s career.

红色资本公司高层的人是靠忠诚的逻辑来管理的。中共国企业,特别是金融部门的企业,通常会将管理人员从大陆投送到香港。中共国高级管理人员经常被中共国共产党轮换或转移到政府和政党角色中,这使得忠诚成为一个人职业生涯的关键。

Photo: Holmes Chan/HKFP.

图片:Holmes Chan/HKFP。

China’s leader, Xi Jinping, ordered the introduction of even tighter controls in 2017 through the installation of party cells into the governance structure of all companies operating in China. Before regulators in Hong Kong reached a consensus on how to react, Hong Kong-listed SOEs were already modifying their companies’ constitutions to include party cell staff in decision-making processes.

中共国领导人习近平在2017年下令通过在中共国经营的所有公司的治理结构中安置党的组织,实行更严密的控制。在香港监管机构就如何应对达成共识之前,在香港上市的国有企业已经在修改公司章程,将党组成员纳入决策过程。

Those who don’t display constant loyalty face damage to their careers. This is what happened to Law Ka-chung, the former chief economist at the Bank of Communications, who claimed he was forced to resign due to political reasons in late 2019.

那些表现不出持续忠诚的人面临事业受损的。交通银行(Bank of Communications)前首席经济学家罗家聪(Law Ka-chung)就是这样,他声称,由于政治原因,他在2019年底被迫辞职。

The pervasive influence of red capital in Hong Kong shows the impossibility of putting politics aside when doing business with China. Now, the US’s new Hong Kong Autonomy Act has shattered the illusion of Chinese political and business elites that it is sustainable to take advantage of Hong Kong’s “two systems” when “one country” undermines them.

红色资本在香港的普遍影响表明,在与中共国做生意时,不可能把政治放在一边。 现在,美国新的《香港自治法案》(Hong Kong Autonomy Act)打破了中共国政治和商业精英的幻想,即在“一个国家”破坏香港的“两种制度”时,还可以持续的利用香港的“两种制度”。

编辑 【喜马拉雅战鹰团】