4:27
老虎、富途、长桥：国家为什么要管买股票的软件
Tiger, Futu, Longbridge: Why China Is Stepping In on Trading Apps
This is an HSK 2 Chinese listening episode that runs about 4 minutes. The full Mandarin script is shown with tap-for-pinyin and a line-by-line English translation, so you can listen and read at once — comprehensible input in the sense of Stephen Krashen's i+1 theory. It teaches 12 key vocabulary words such as 钱、公司、手机 and walks through 4 grammar patterns, each explained in English with examples. The same news story is retold at 4 difficulty levels — use the level selector above to find the version that is challenging but still understandable for you.
今天我们说一个，
Today we'll talk about
关于钱的新闻。
a news story about money.
这个新闻，
This news
和买股票有关。
is related to buying stocks.
我们先说一下"股票"。
Let's first talk about "stocks."
一个公司，
A company
可以分成很多小块。
can be divided into many small pieces.
每一小块，
Each small piece
就是一张股票。
is one stock.
你买了一个公司的股票，
If you buy a company's stock,
你就是这个公司，
you become a very, very small
很小很小的一个主人。
owner of that company.
公司赚钱了，
If the company earns money,
你的股票就更值钱。
your stock becomes worth more.
公司不好了，
If the company does badly,
你的股票就不值钱。
your stock is not worth money.
很多人买股票，
Many people buy stocks
是想让自己的钱变多。
because they want their money to grow.
有的人，
Some people
买中国公司的股票。
buy the stocks of Chinese companies.
也有很多人，
And many people
想买外国公司的股票，
want to buy the stocks of foreign companies,
比如美国的大公司。
for example big American companies.
怎么买外国的股票呢？
How do you buy foreign stocks?
以前，
In the past,
这件事很麻烦。
this was very troublesome.
后来，
Later,
有了一些手机软件，
some phone apps appeared,
事情就变简单了。
and it became simple.
今天新闻里的三个软件，
The three apps in today's news
就是这样的。
are exactly this kind.
它们叫老虎、
They are called Tiger,
富途和长桥。
Futu, and Longbridge.
用这三个软件，
With these three apps,
可以买美国、
you can buy American
香港的股票。
and Hong Kong stocks.
用手机就能买，
You can buy with just a phone —
非常方便。
very convenient.
所以这些年，
So in recent years,
很多中国人都在用。
many Chinese people have been using them.
但是，
But,
五月二十二号，
on May 22,
情况变了。
the situation changed.
中国有一个部门，
China has a department
专门管股票市场。
that specially manages the stock market.
它的名字，
Its name,
我们一般叫"证监会"。
we usually call it the "CSRC."
这一天，
On this day,
证监会说：
the CSRC said:
老虎、富途、长桥，
Tiger, Futu, and Longbridge
做了违法的事。
have done something illegal.
"违法"，
"Illegal"
就是做了，
means doing
法律不让做的事。
what the law does not allow.
这三家公司，
What did these three companies
做错了什么呢？
do wrong?
在中国，
In China,
帮别人买卖股票，
helping others buy and sell stocks
是一种生意。
is a kind of business.
做这种生意，
To do this kind of business,
必须先得到国家的同意。
you must first get the state's consent.
国家给你一个"许可"，
The state gives you a "license,"
你才可以做。
and only then may you do it.
但是这三家公司，
But these three companies,
没有这个许可，
without this license,
就在中国，
went and did this business
做了这个生意。
in China.
所以证监会说：
So the CSRC said:
这是违法的。
this is illegal.
证监会还说，
The CSRC also said
它们这样赚到的钱，
the money they earned this way
要被全部收走。
must all be taken back.
而且，
And furthermore,
它们还要被严厉地处罚。
they will be severely penalized.
这个消息一出来，
As soon as this news came out,
这三家公司，
these three companies
马上遇到了大麻烦。
immediately ran into big trouble.
其中两家，
Two of them
是上市公司。
are publicly listed companies.
它们的股票，
Their stocks
一天就跌了很多，
fell a lot in a single day —
有的跌了三成以上。
some fell more than thirty percent.
"三成"，
"Three-tenths"
就是百分之三十。
means thirty percent.
那么，
So,
为什么国家要管这件事？
why does the state manage this matter?
这里有一个重要的原因。
There is an important reason here.
在中国，
In China,
钱出国，
money leaving the country
是有规定的。
is subject to rules.
一个普通人，
For an ordinary person,
一年能换多少外国的钱，
how much foreign money they can exchange in a year
是有数字的。
has a set figure.
用这些软件，
Using these apps
买外国股票，
to buy foreign stocks
其实一直在一个，
has, in fact, always been in a
不太清楚的地方。
not-very-clear place.
不能说完全可以，
You can't say it is fully allowed,
也不能说完全不行。
nor that it is fully forbidden.
这一次，
This time,
国家把话说清楚了。
the state has stated it clearly.
那么，
So,
已经在用这些软件的人，
the people already using these apps —
要担心吗？
should they worry?
国家说了：
The state has said:
不用太担心。
no need to worry too much.
你账户里的钱，
The money in your account
还是你的。
is still yours.
你买的股票，
The stocks you bought
也还是你的。
are also still yours.
没有人会强行拿走。
No one will forcibly take them away.
但是以后，
But from now on,
你只能卖，
you can only sell;
不能再放新的钱进去。
you cannot put new money in.
而且国家说，
And the state said
要用两年的时间，
it will use two years
把这种违法的生意，
to completely stop
完全停掉。
this kind of illegal business.
我看了这个新闻，
I read this news,
想了一个问题。
and I thought of a question.
一个东西很方便，
Something is convenient,
很多人都在用——
and many people use it —
但这不等于，
but that does not equal
它就一定是对的。
it being definitely right.
方便和规定之间，
Between convenience and rules,
有时候，
there is sometimes
是有矛盾的。
a contradiction.
最后我问你：
Finally I ask you:
如果是你，
If it were you,
你会想买外国的股票吗？
would you want to buy foreign stocks?
你想一想。
Think about it.
好。
Okay.
今天就说到这里。
That's all for today.
明天再聊。
Talk tomorrow.
Money. The episode is 一个关于钱的新闻 — a news story about money, and about buying stocks.
Company. A stock is one small piece of a 公司; if the company does well, the stock is worth more.
Mobile phone. These apps let people buy stocks 用手机就能买 — just with a phone.
To worry. The episode reassures: 已经在用这些软件的人，要担心吗？— do current users need to worry? Not too much.
A question, a problem. The episode closes by 想了一个问题 — thinking over a question for the listener.
To know. 大家最想知道的是 — what everyone most wants to know: is this legal or not?
A stock, a share. Beyond HSK2. The episode glosses it: a company split into small pieces, each piece is 一张股票.
Software, an app. Beyond HSK2. 老虎、富途、长桥 are phone 软件 for buying stocks.
Illegal. Beyond HSK2. The episode glosses it: 做了法律不让做的事 — doing what the law forbids.
To penalize. Beyond HSK2. The regulator said the three firms would be 严厉地处罚 — severely penalized.
A permit, a license. Beyond HSK2. 国家给你一个许可，你才可以做 — you need a license before you may do this business.
An account. Beyond HSK2. 你账户里的钱，还是你的 — the money in your account is still yours.
* beyond level超纲词
和 X 有关 / 关于 X
和…有关 and 关于… both mark the topic of something. The episode uses them to say what the news is about.
这个新闻，和买股票有关。
今天我们说一个，关于钱的新闻。
必须先…，才…
必须先 sets a required first step; 才 says the result follows only after it. The episode uses it for the rule about needing a license.
做这种生意，必须先得到国家的同意。
国家给你一个许可，你才可以做。
其实
其实 introduces the real situation, often correcting an assumption. The episode uses it to reveal the legal grey area.
用这些软件买外国股票，其实一直在一个不太清楚的地方。
其实，这件事一直没有说清楚。
A 不等于 B
不等于 separates two things people wrongly treat as the same. The episode's point: many people using something does not equal it being right.
很多人都在用——但这不等于，它就一定是对的。
方便，不等于合法。