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虽有未知数，但阿里巴巴IPO或创纪录

The huge Chinese e-commerce company Alibaba is set to offer its stock to the public for the first time later this week, an action that may raise more than $20 billion for the company. This Initial Public Offering may turn out to be the largest ever.

中国电子商业公司巨头阿里巴巴预计本周上市，融资或超过200亿美元。阿里巴巴的首次公开募股（IPO）可能为全球历来最大的一次。

Alibaba handles around 80 percent of on-line commerce by China's more than 600 million Internet users.

在中国，超过6亿网民的网上消费有约80%是通过阿里巴巴完成的。

Headed by Jack¹ Ma, (NAT SOT) the firm profits from transaction fees, and payments from advertisers who want to reach its rapidly-growing throngs² of customers. Alibaba also has a payment system that can replace credit cards for some purchases.

阿里巴巴由马云创立，其主要盈收来源为交易费以及广告费，商家希望接触阿里巴巴快速增长的客户群，因此愿意支付广告。阿里巴巴还有一套支付系统，在某些交易中可以取代信用卡。

The head of a company that sells business information to firms doing business around the world, says Alibaba is set to grow more and even faster. Panjiva's Josh Green spoke³ via Skype.

向世界各地的公司出售商业信息的“磐聚网”（Panjiva）负责人乔许?格林说，阿里巴巴预计会发展更大、更快。

"As you look at the next 10-20 years, there is no question that we are going to see the rise of a really powerful, really vibrant⁴ middle class in China. And there is no company that is better positioned to benefit from that rise of the Chinese middle class than Alibaba," said Green.

他说：“展望今后10到20年，毫无疑问，我们将会看到一个真正强大又富有活力的中产阶层在中国崛起。没有一个公司能像阿里巴巴那样具备良好的条件，可以在中国中产阶层中获益。”

Alibaba's Jack Ma could use the money raised by the IPO to reward people who backed the firm in its early days and to expand operations.

阿里巴巴的马云可以用首次公开募股的资金回报那些在早年支持这个公司的人，并扩展业务。

Alibaba can continue to expand in China, and has made overseas investments that could aid international expansion. But a new poll by Reuters and Ipsos shows most Americans have never heard of Alibaba. Green says growing globally means Alibaba would have to build the kind of connections, brand recognition, and trust that have helped the firm in China.

阿里巴巴可以继续在中国扩展，其海外投资可以帮助他们拓展全球。但是路透社和全球市场调查公司（IPSOS）一项新的民调显示，大部分美国人从来没听说过阿里巴巴。格林表示，全球发展意味着阿里巴巴必须建立关系，提升品牌认知度和信赖度，这些都是阿里巴巴在中国成功的因素。

Experts say Alibaba has a corporate⁵ structure that gives shareholders⁶ less influence over the firm than is normal in a publicly held company.

专家称，与一般上市公司相比，阿里巴巴的公司结构使其股东对公司的影响小于正常水平。

A University of Michigan business professor says investors⁷ will need to exercise the same caution with this company as they would with any investment in an emerging market like China.

密西根大学商学教授普耐特?曼杉达说，投资者对投资中国这样的新型经济体要保持谨慎，对阿里巴巴也不应例外。

"It’s a very convoluted⁸ financial transaction, you are buying shares in an entity⁹ that is registered in the Cayman Islands, and exactly how this will filter through in terms of transparency and in terms of investors having a say in what the company is doing is not very clear," said Manchanda.

他说： “这是非常错综复杂的金融交易，你买的是一家在开曼群岛注册的公司股票，企业透明度如何，投资者对这个公司在做什么有无发言权等等，这些问题如何落实，还不是很清晰。”

Alibaba's top executives have met with major investors around the world to make a case for their company.

阿里巴巴的高层主管已与世界范围内主要投资商会面，解释阿里巴巴公司的相关事宜。

That may be why concerns about the firm are not hurting demand for Alibaba shares before they formally go on sale. Reports in the financial press say so many investors want to own part of this company that managers of the IPO are raising the price.

这也许解释了为什么对阿里巴巴的担忧并未影响到正式交易前投资者对其股票的需求。金融媒体的报道指出，很多投资者都希望能拥有一杯羹，这使首次公开募股管理人员开始提升阿里巴巴的股票价格。