Chinese financial officials have started a global roadshow topersuade foreigners to invest in the country’s stock market, ahighly unusual move that reflects concerns that investors areturning their backs on China as its economy slows.

中国金融官员展开了一场全球“路演”，劝说外国投资者投资中国股市，这一非同寻常的做法反映出有关方面对投资者随着中国经济放缓而纷纷撤离的担忧。

Officials from the Shanghai and Shenzhen stock exchanges are touring Europe, the US and Japanto meet institutional investors, according to three people briefed on the program.

三位消息人士指出，上交所和深交所的官员们正在欧洲、美国、日本访问，会晤机构投资者。

The attempt to drum up interest in China’s markets is a remarkable U-turn from just a couple ofyears ago when Beijing restricted overseas investors under a strict quota system, worried theywould swamp China with cash.

这一鼓动人们对中国市场感兴趣的努力是一个巨大的转变，就在两年前，中国政府还通过严格的配额体系来限制海外投资者，担忧外资洪流冲击中国。

Foreign institutions were allowed to invest a combined total of no more than $30bn in China’scapital markets until April this year when the limit was lifted to $80bn. The securities regulatorhoped the higher ceiling would lead to a big jump in applications from investors, but it has beensurprised by the relative quiet, according to a government adviser.

在今年4月份之前，外国机构在中国的投资最多不能超过300亿美元，4月份这一限制被提高到了800亿美元。一位政府顾问表示，证券监管机构本来预计，较高的上限会带来大量的投资申请，但相对冷清的状况令其吃惊。

“They think it is mainly because of the global economic slowdown, but they also think that China’sown growth prospects are having an impact,” he said. Even before the economy’s currentslowdown, Chinese shares had been among the world’s worst investments.

他说：“他们认为这主要是因为全球经济放缓，但认为中国自身的增长前景也有影响。”即使是在中国经济此轮放缓之前，中国股票也是世界最糟糕的投资之一。

The Shanghai Composite Index, the country’s main stock index, dropped 14 per cent in 2010 and 23 per cent in 2011. It has retreated a further 6 per cent this year.

2010年，中国主要股指上证综指下跌14%，2011年跌幅为23%，今年迄今进一步下跌6%。

Foreign investors and analysts say that a big part of the problem is that China’s stock marketoperates like a rigged casino, with rampant insider trading and weak corporate governance. GuoShuqing, who was appointed China’s chief securities regulator late last year, has set out to reformthe country’s markets.

外国投资者和分析师表示，主要的问题是，中国股市就像一个受到操纵的赌场，内幕交易猖獗，公司治理不力。去年被任命为中国证监会主席的郭树清已着手对中国股市进行改革。