英语翻译Other panelists working in private equity in India and C

英语翻译
Other panelists working in private equity in India and China laid out pluses and minuses in the two markets during the Wharton conference,which was titled "Driving Returns:Value Added Investing."
Mukund Krishnaswami,managing director of Krilacon Group,an investment firm based in New York and Philadelphia,agrees with Siegel about the current investment climate in India."Long term,I'm a very big bull on India.India is a country where they've done so much wrong in the last 45 years.Yet despite all that there's so much that is good going on that if they just get it right,the opportunities [will be] fabulous in 25 years," he said."In the short-term,I'm quite a bear.I think the risk premium just isn't there in most assets to be spending a lot of money [in India] today."
Krishnaswami advised investors to follow the broader economy,not the trends that are hot today,including information technology or real estate."Look for derivative areas of economic growth and take a 12- to 25-year horizon.Those who do will be fairly compensated for the risk they're taking."
Panelist James Hahn,CEO of Global Venture Network and managing partner of China Private Equity Partners with operations in Hong Kong,said an overflow of foreign capital could hurt private equity returns in China,but he does not see that happening until after the 2008 Olympics or the Shanghai World Expo in 2010.
Chinese companies with good management are growing at a rate of 30% internally and 30% globally,Hahn said."A good company operating in a good macro is a formula for success." He said there are at least 3 million privately owned companies in China.Of those,his firm believes 300,000 would qualify to list on NASDAQ or NYSE today.One percent of them,or 3,000 companies -- "jewels" that have sound management -- comply with Sarbanes-Oxley,and could be scaled up.
Hahn noted that his firm invests only in companies with management that operates under U.S.rule of law and accounting standards."We will spend time with any Chinese CEO who has made the first step by showing his or her commitment to the process by having the company audited under U.S.GAAP rules.
"This 'PE arbitrage' has delivered extraordinary performance.We're achieving that and everybody we know in China is achieving that," he said."It's just the way things are today until the markets become more efficient."
Xiaojun Li,principal at IDG Venture Investment,remarked that he is bullish about China over the long-term because of its growing middle class and potential as a consumer market.He pointed out there
are more Internet users and engineers in China than any other country,and that China also has a strong entrepreneurial culture."You need to be patient," he said.

另一位与会人士在印度的私人股权工作,奠定了中国在这两个市场的有利和不利的会议期间,沃顿商学院,这是名为“驾驶返回：增值投资.”
Mukund Krishnaswami,管理Krilacon集团,一家投资公司在纽约和费城的董事,同意对在印度的投资气候与西格尔. “从长期来看,我对印度的股市看好.印度是他们已经做了这么多错误,在过去45年来的国家.然而,尽管有如此多的说是好的,如果他们只是要得到它权利,在未来的25年内机会【将会】非常好,“他说. “在短期内,我对此十分不看好.我觉得现如今风险溢价根本没有被大部分资产那里花费大量金钱【指在印度】.”
克里希纳斯瓦米呼吁投资者必须遵守更广泛的经济,而不是包括信息技术和房地产热的趋势,是今天. “寻找经济增长的衍生领域,并为12 - 25岁的视野.那些谁都会得到相当的风险,他们采取的补偿.”
小组成员詹姆斯哈恩,全球风险网络和管理中国私人资本合作伙伴,在香港业务的首席执行官表示,外国资本溢出可能伤害中国私人股本回报,但他并不认为发生这种情况直到2008年奥运会或上海世博会在2010年.
在良好的管理下,中国公司在国内乃至全球正在以30％的速度在增长,哈恩说. “一个良好的宏观好公司经营是一种成功模式.”他说,有至少300万,在中国民营企业.其中,他的公司认为,300,000将有资格在纳斯达克或纽约证券交易所今天的名单. 1个百分点,其中,或3000家公司---“宝石”,有健全的管理---符合萨班斯法案,并且可以扩大规模.
哈恩说,他的公司只投资于与管理,根据美国的法律和会计准则的规则运作的公司. “我们会动用任何中国总裁谁通过展示了通过让美国公认会计规则,该公司经审计的他或她的承诺,这一进程的第一步时间.”
“这种‘体育套利’已交付出色的表现.我们正在实现这一目标,大家都知道我们在中国是实现这一目标,”他说. “这只是事物的方式,直到今天,市场变得更有效率.”
小军李,在主要的IDG风险投资,表示他对中国看好了,是因为它越来越多的中产阶级和潜在的消费市场作为一个长远.他指出,中国有比世界上其他国家更多的互联网用户以及工程师,而中国也有良好的创业文化. “你必须保持耐心.”他说.
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