Private companies in China are practised at staying one step ahead of their government. Western investors are less sure-footed. A Chinese crackdown on new online lenders extended the selloff in shares of micro-lender Qudian, which listed in the US last month. The stock closed more than a fifth below its listing price on Tuesday.
中國的民營企業都深諳始終比政府先行一步的道理。西方的投資者們卻沒這么有備無患。中國一份停止審批新的網絡貸款公司的通知，令上個月在美國上市的小額貸款公司趣店(Qudian)的股票進一步暴跌。周二趣店股票收盤價較發行價下跌了20%多。
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