????不過,，這種情況可能很快就會發(fā)生變化,。據報道，阿里巴巴正尋求進軍美國電子商務市場,，加大對美國公司的投資,。（上市之前，阿里巴巴參與了美國乘車應用Lyft募集2.5億美元資金的計劃,，并分別對美國的零售網站ShopRunner和移動信息應用Tango投資2億美元和2.15億美元,。）預計阿里巴巴將推出電子商務網站11 Main,，為“消費者和精選商家搭建一個時尚、專業(yè)的商業(yè)平臺,?！?/p>

????目前還遠遠不能確定阿里巴巴能否在上述計劃中取得成功。中國企業(yè)在美國市場上面臨著巨大的挑戰(zhàn),。例如,，被譽為“中國版Twitter”的微博（Weibo）在美國上市時募集的資金就少于預期。由于估值低于預期,，有些中國科技公司從紐約證券交易所（the New York Stock Exchange）退市,。

????美國萊斯大學張延教授指出，如何管理對于透明度的關注是尋求在美國上市的中國企業(yè)面臨的最大挑戰(zhàn)之一,。阿里巴巴如何管理外界對于透明度的關注以及其他投資者對阿里巴巴IPO的反應,，這些將對在美國的中國企業(yè)產生重要影響。

????“這些對其他尋求在美國上市的中國企業(yè)來說非常重要,，”張延說,。“如果阿里巴巴上市順利,，它將鼓勵其他中國企業(yè)考慮在美國上市,，特別是科技企業(yè)?！?/p>

????此外,，這將給美國發(fā)展放緩的整個IPO市場帶來重要影響。

????“IPO市場近期表現欠佳,，”辛哈說,。“市場一直處于波動之中,。合理定價的阿里巴巴IPO或許會為其他公司的上市奠定基礎,。”

????無論如何,，阿里巴巴將給市場帶來持久的影響,。辛哈指出：“這是很長一段時間內最令人矚目的IPO之一?！保ㄘ敻恢形木W）

????譯者：喬樹靜 / 汪皓

????That may soon change. Alibaba is reportedly looking to bring its e-commerce business to the U.S. and is ramping up its investments in U.S.-based companies. (Ahead of its IPO, Alibabaparticipated in a $250 million funding round for ride-sharing app Lyft, as well as investedabout $200 million in the U.S. retail site ShopRunner and $215 million in the mobile messaging app Tango.) The company is expected to launch an e-commerce site, 11 Main, "where hand-picked shop owners connect with customers in a stylish and professionally merchandised marketplace."

????It's far from certain that Alibaba will succeed in these endeavors. Chinese companies have faced significant challenges in the U.S. market; for example Weibo, China's answer to Twitter, raisedless money than it expected in its U.S. IPO. Other Chinese tech companies have delisted from the New York Stock Exchange because of lower-than-expected valuations.

????One of the largest challenges for any Chinese business seeking to go public in the U.S. is managing concerns about transparency, said Rice University's Yan. How Alibaba manages those concerns and how other investors respond to the IPO could have a major impact on Chinese businesses in the U.S.

????"It will be very important for other Chinese companies who are also considering U.S. IPOs," Yan said. "If Alibaba's IPO does well, it will encourage other Chinese companies, especially technology companies, to consider IPOs in the U.S. market."

????And it could have a big impact on the broader IPO market, which appears to be slowing down.

????"The IPO market hasn't been the best market recently," Sinha said. "The market has been volatile. Maybe the Alibaba IPO, priced correctly, paves the way for other companies to go public as well."

????Whatever happens, Alibaba will leave a lasting impact on the market, Sinha said. "This is one of the most highly anticipated IPOs in a long time."