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►Business： Chinese internet firms Clubbing together

商業(yè)：中國互聯(lián)網(wǎng)公司合并

The merger of Meituan and Dianping could herald a bigger consolidation.

美團外賣和大眾點評的合并可能預(yù)示著更大的合并。

GROUP buying—in which discounts are offered on goods and services once a certain number of consumers have signed up—may be falling out of fashion in many countries， with even America's pioneer， Groupon， slashing over 1，000 jobs last month， but it is still doing well in China.

團購——當一定數(shù)量的購買者報名時商品和服務(wù)便提供折扣——在許多國家它快要過時了。即使是它的美國創(chuàng)始人，高朋團購(Groupon)，上個月也裁剪了1000多個崗位，但在中國它依然出彩。

According to Analysys International， a research firm， bargain hunters there rang up 77 billion yuan ($12.1 billion) in sales through group-buying websites in the first half of this year.

根據(jù)調(diào)查研究公司易觀國際顯示，愛占便宜的人在上半年通過團購網(wǎng)站電話交易了770億元(121億美元)。

That is a rise of 168% on a year earlier.

這比去年同期增長168%。

Even more striking is news this week of a merger between the two biggest Chinese firms in the business， which may herald a broader consolidation in China's internet sector.

最讓人吃驚的本周中國兩個最大的團購公司的合并，這有可能預(yù)示著中國互聯(lián)網(wǎng)行業(yè)更廣泛的合并。

Groupon has flopped in China， just as many other Western internet firms have done.

高朋團購在中國失敗了，就像其他許多西方互聯(lián)網(wǎng)公司一樣。

This has left the field clear for local businesses.

這給本地貿(mào)易留下了縫隙區(qū)域。

On October 8th two Chinese companies which between them have about four-fifths of the local group-buying market said that they would combine.

10月8日，兩個中國公司宣布他們將合并，它們占有中國團購市場的4/5份額。

Meituan， with about half of the market， will join forces with Dianping， which has about 30%.

有大約市場一半份額的美團外賣將加入有市場30%份額的大眾點評。

The combined business will be worth perhaps $15 billion.

這個合并企業(yè)也許將市值150億美元。

It will quash competition on one front of a costly proxy war now being fought by China's big three internet firms—Alibaba， Baidu and Tencent.

這將會取消代價高昂的代理戰(zhàn)爭之前的競爭，而戰(zhàn)爭由中國最大的三個互聯(lián)網(wǎng)公司——阿里巴巴，百度和騰訊引起。

Alibaba has a stake in Meituan， while Tencent backs Dianping.

阿里巴巴在美團有股份，而騰訊支持大眾點評。

The merged entity would dwarf Nuomi， which has a mere 14% share of China's group-buying industry.

合并實體將打壓僅占有中國團購行業(yè)14%份額的糯米網(wǎng)。

It is fully owned by Baidu， which said in June that it would invest $3.2 billion over the next three years in this sort of e-commerce business.

它完全屬于百度，6月宣布在未來三年將投資32億美元在電子商務(wù)行業(yè)。

The deal marks an escalation in what seems to be an effort by Alibaba and Tencent to squeeze out Baidu and turn the Chinese internet's big three into a big two.

這次交易似乎標志著阿里巴巴和騰訊逐步擴大影響力來擠出百度，將中國互聯(lián)網(wǎng)三大公司變成兩大公司。

They have already joined up to try to create a dominant company in the online taxi-hailing business.

他們已經(jīng)聯(lián)合起來在在線打車行業(yè)創(chuàng)立了一個統(tǒng)治地位的公司。

At first each had backed a different startup in this area， but when Baidu gave financial backing to Uber， an American taxi-app giant， to expand its presence in China， Alibaba and Tencent merged their proxies into a firm now called Didi Kuaidi.

一開始他們在這個領(lǐng)域支持著不同的創(chuàng)業(yè)公司，但此時百度則提供經(jīng)濟支持給Uber，一個美國打車應(yīng)用巨頭，以此來擴大在中國市場的影響力，阿里巴巴和騰訊合并他們的代理成為一個叫滴滴快滴的公司。

Alibaba and Tencent merged their proxies into a firm now called Didi Kuaidi.

阿里巴巴和騰訊合并他們的代理成為一個叫滴滴快滴的公司。

The combination is valued at $15 billion.

這個合并公司市值150億美元。

All of the big three firms have invested heavily over the past two years in everything from online-video services to travel portals.

從在線視頻服務(wù)到旅游門戶的所有方面，這三大公司比過去兩年投資了更多。

On one estimate， there have been nearly $60 billion in internet deals involving Chinese firms so far this year.

據(jù)估計，今年以來中國公司在互聯(lián)網(wǎng)交易有將近600億美元。

Some consolidation is needed： in many corners of the industry there are too many competitors， most of which are uNPRofitable.

一些合并需要：在行業(yè)的困境有許多競爭者，且其中多數(shù)是不賺錢的。

But China's antitrust authorities， which have been soft on local internet firms， ought nonetheless to be vigilant.

但對本地互聯(lián)網(wǎng)公司手軟的中國反壟斷機構(gòu)，即使這樣也應(yīng)該警惕。

Otherwise there will surely be more mergers like this one， as the industry's giants seek to create monopolies.

否則一定會有更多像這樣的合并，而這個行業(yè)的巨頭會探索創(chuàng)造壟斷。

1.out of fashion 過時的

例句：This clothes style is out of fashion.

這種衣服式樣已經(jīng)過時了。

2.so far 迄今為止

例句：What have you found so far?

你到目前為止發(fā)現(xiàn)了什么?

3.squeeze out 排擠

例句：How can you squeeze out more time to do what you want?

你是如何擠出更多時間來做你想做的事情?

4.e-commerce business 電子商務(wù)

例句：In the business world， electronic commerce is a new e-commerce business model.

在商業(yè)領(lǐng)域中，電子商務(wù)是的一種新興的商務(wù)活動模式。