衰退的領頭羊
The Evergrande Group, once the top-selling property developer in China, recently filed for bankruptcy protection in the US.
曾經是中國銷量最好的房地產開發商的恆大集團最近在美國申請了破產保護。
property developer 房地產開發商sell like hot cakes 暢銷
Although this does not indicate that the company is bankrupt, many are seeing this move as symbolic of China’s widespread property crisis.
雖然這並不表示該公司已經破產，但許多人將這一舉動視為中國普遍房地產危機的象徵。
see A as B 把～視作～=regard A as B=view A as B=think of A as B=consider A (to be) Bsymbol(n.)象徵(be) symbolic of~ 象徵著～widespread(adj.)普遍的
Evergrande filing for protection in the US did not come as a shock to many observers.
恆大在美國申請保護並沒有讓許多觀察人士感到震驚。
come as a shock to sb. 對某人來說是個震撼的消息
In fact, in 2021, the company was found “to be struggling with more than $300 billion in liabilities,” even defaulting on bonds the same year.
實際上，在2021年，該公司被發現「面臨超過3,000億美元的負債」，甚至在同一年出現了債券違約。
liability(n.)負債、累贅、(法律)責任、義務default(v.)違約default on a loan 拖欠借款default on debt 拖欠債務bond(n.)債券
A report from July of this year also revealed that the company experienced more than $113 billion of net loss in 2021 and 2022.
今年7月的一份報告還透露，該公司在2021年和2022年的淨虧損超過1,130億美元。
reveal(v.)透露;揭露conceal(v.)隱藏;隱瞞net loss 淨虧損suffer(v.)遭受
Due to the combination of these factors, Evergrande has been forced to undergo offshore debt restructuring involving “bonds, collateral and repurchase obligations” totaling $31.7 billion.
由於這些因素的綜合作用，恆大被迫進行涉及317億美元的「債券、抵押品和回購義務」的離岸債務重組。
due to 因為;由於=owing to=as a result ofa winning combination 取勝的組合in combination with 聯合;結合undergo transformation 經歷變化offshore(adj.)(公司或銀行)境外的、海外的、離岸的offshore debt restructuring 離岸債務重組offshore investment 境外投資offshore drilling 近海鑽探an offshore island 近海島嶼collateral(n.)抵押品;擔保品obligation(n.)義務
For more than one-and-a-half years, Evergrande has been in negotiations with creditors, offering to swap debts “into new notes issued by the company and equities in two subsidiaries, Evergrande Property Services Group and Evergrande New Energy Vehicle Group.”
在過去一年半的時間裡，恆大一直在與債權人進行談判，提供將債務「轉換為由公司發行的新票據以及恆大物業服務集團和恆大新能源汽車集團兩家子公司的股權」的交換方案。
in negotiations with~ 和某人談判creditor(n.)債權人;貸方debtor(n.)債務人;借方swap(v.)交換note(n.)票據、證明書equity(n.)股份;股權
While this restructuring process is being completed, filing for US protections is a procedural step that will allow Evergrande to avoid creditors suing them or tying up their assets in the United States.
在完成這個重組過程的同時，申請美國保護是一個程序性步驟，將允許恆大避免債權人對他們提起訴訟，或將其資產綁定在美國。
procedure(n.)程序SOP 標準作業程序=standard operating procedureprocedural(adj.)程序(性)的sue(v.)對⋯⋯提起訴訟、控告tie up 束縛、牽制
While this one-time development leader in China falters, the country’s entire “property sector remains in turmoil.”
而在這家曾經的中國開發領頭羊衰退的同時，中國整個「房地產業仍處於動盪之中」。
falter(v.)衰退in turmoil 陷入混亂=in confusion
Over the past several years, developers have not only failed to finish housing projects but have also faced protests and “mortgage boycotts from homebuyers” as a result.
在過去幾年中，開發商不僅未能完成住房項目，還面臨抗議和「購屋者的抵押貸款抵制」等問題。
over the course of~ 在～期間=duringmortgage(n.)抵押貸款boycott(n.)(v.)抵制、杯葛
Despite government efforts that have been labeled as “too little, too late” by some analysts, China’s property crisis has the potential to affect the country’s entire financial system if nothing is done soon.
儘管政府的努力被一些分析人士稱為「為時已晚」，但如果不盡快採取行動，中國的房地產危機有可能影響到整個金融體系。
despite(prep.)儘管=in spite ofeffort(n.)努力=endeavor