China's leadership told officials to be more transparent in the wake of public outcry over the government's handling of last month's train crash, as the disaster showed further signs of taking its toll on the finances of the state-run railways industry.

　　中国领导层发文要求各级政府提高政务透明度。此前政府对上个月动车追尾事故的处理引发了公众抗议，并进一步呈现影响国营铁路行业财务状况的迹象。

　　The statement, published Wednesday on the front page of the official Communist Party newspaper People's Daily, didn't specifically mention the July 23 collision of two high-speed trains, which killed at least 40 people. But it seemed clearly aimed at trying to address complaints that the response has been opaque and arrogant.

　　发布于中国共产党官方报纸《人民日报》头版的这份公告并未特别提到7•23动车追尾事故，但似乎明显旨在试图应对人们对处理事故的不透明及态度傲慢的不满。事故造成至少40人遇难。

　　Officials must “grasp the need to be open about major events of interest to the public, and objectively publicize developments and what the government's doing…and quickly respond to society's concerns,” said the statement.

　　公告说，各级行政机关要抓好重大突发事件和群众关注热点问题的公开，客观公布事件进展和政府举措……及时回应社会关切。

　　The crash has given rise to a groundswell of popular resentment against the government, and in particular the Railways Ministry, for perceived arrogance and mismanagement. It has also drawn attention to the economics behind one of China's showcase investment projects, which has amassed hundreds of billions of dollars worth of public debt and may require a government bailout.

　　此次事故使得公众对政府的愤怒情绪高涨，特别是铁道部显而易见的傲慢态度和处置不当。同时也引起了人们对作为中国示范性投资项目之一的高速铁路背后的财务情况的关注，铁道部累计公共债务达数千亿美元，可能需要政府救助。

　　On Wednesday, government-owned CSR Corp., which made the trains involved in the accident, said it had delayed a key step in its plan to raise 11 billion yuan ($1.7 billion) of fresh capital. In a statement, CSR, which lists shares in Hong Kong and Shanghai, said it will postpone a shareholder vote on the planned private placement until Sept. 29. It was previously planned for Friday. It will use the extra time to talk with shareholders to “to enable them and the company's potential investors to have a good understanding of the prospects of the company and the industry,” the statement said.

　　周三，政府管理的中国南车股份有限公司说，公司已推迟筹集110亿元新资金计划的关键步骤。中国南车是两列失事动车的制造商，同时在香港和上海上市。公司在一份公告中说，会将审议增发计划的股东投票会议延期至9月29日。会议原定于周五召开。公告说，公司拟在股东大会召开之前与投资者进行充分沟通，以使投资者对公司及行业发展前景做出准确判断。

　　In June, CSR said it would sell the additional shares to its corporate parent and China's national pension fund, and use the proceeds to boost its production capacity to meet rapidly growing demand. While the company hasn't been accused of wrongdoing in the crash, its Hong Kong shares have tumbled about 26% since July 23.

　　6月，中国南车说将会向其母公司和中国国家养老基金增发股票，利用所得收益来增强生产能力，以满足快速增长的需求。虽然公司并未被指在事故中有不当行为，但其香港股价自7月23以来下跌了约26%。

　　Analysts say they now expect CSR and other Chinese railway equipment builders to be less aggressive in bidding for new contracts. And they say broader debt issues in the railway system are likely to slow the high-speed network's further expansion and perhaps result in an overhaul of the Railways Ministry.

　　分析师说目前他们预计中国南车及其他中国铁路设备制造商竞标新合约的积极性会降低。他们说铁道系统更大的债务问题可能会导致高速铁路网络的进一步扩张放缓，并且可能会促使铁道部的改革。

　　According to a report by the Shanghai Clearing House, the Ministry of Railway's total outstanding debt rose to 2.09 trillion yuan ($324.3 billion) at the end of June, from 1.98 trillion yuan at the end of the first quarter.

　　根据上海清算所的一份报告，铁道部截至6月底的未偿还债务总额从第一季度末的人民币1.98万亿元增至2.09万亿元。

　　Although the Railways Ministry is backed by the Chinese government, there's been little demand recently for its bonds on the secondary market, where yields on its debt have risen since the crash.

　　虽然铁道部有政府支持，但近期二级市场对其债权的需求微乎其微，事故发生后铁道部债券的收益率一直在涨。

　　Still, local media moved to ease concerns that the ministry may face higher financing costs in the future. Financial News, a newspaper backed by the People's Bank of China, reported Tuesday that the country's big five commercial banks would continue to cooperate with the Railways Ministry and that the rate of interest they charge wouldn't be affected by the crash.

　　不过有些中国媒体却开始缓解铁道部今后可能面临更大融资成本的担忧。中国人民银行主管的《金融时报》周二报道说，工、农、中、建、交五大商业银行会继续与铁道部合作，利率浮动依据市场而非事故。

　　However, some banks may already be nearing the limits of how much they can lend to rail-sector firms, if not the ministry. In a statement last week, the China Banking Regulatory Commission said that banks need to 'conscientiously deal with the problem of railway network loans' and 'hold firm to the red line,' referring to limits the regulator imposes on lending to any one company or conglomerate.

　　然而，撇开铁道部不说，一些银行能够向铁路相关企业发放的贷款或许已经在接近上限。中国银监会上周发表声明说，银行业金融机构要认真处理好铁路系统贷款问题，要坚守“红线”，即银监会规定的银行向企业或集团发放贷款的限额。