【中文版】

融资余额是指投资者通过融资融券交易借入资金后，购买的股票余额。具体而言，如果投资者在购买股票时使用了融资融券交易，那么他们需要向证券公司提交一定的资产作为抵押，并支付相应的利息。证券公司会借给投资者资金购买股票，但这个资金并不是无偿的，投资者需要在一定时间内归还本金和利息。

融资余额的大小反映了市场对于股票的融资需求量，如果融资余额增加，说明市场对于股票的需求增加，投资者对于股票的信心也相应增加；如果融资余额减少，则说明市场对于股票的需求减少，投资者对于股票的信心可能下降。

融资余额的变化可以作为市场情绪的一个指标，对于投资者来说具有重要的参考价值。同时，融资余额的变化也会影响市场的走势，如果融资余额持续增加，可能会推动股票价格的上涨；如果融资余额减少，则可能会对市场走势产生负面影响。

【英文版】

The financing balance refers to the stock balance of investors who purchase stocks through margin trading. Specifically, if investors use margin trading to purchase stocks, they need to submit certain assets to the securities company as collateral and pay corresponding interest. Securities companies will lend investors funds to purchase stocks, but this funds is not free, and investors need to return the principal and interest within a certain period of time.

The size of the financing balance reflects the market's demand for stock financing. If the financing balance increases, it means that the market's demand for stocks increases, and investors' confidence in stocks also increases accordingly. If the financing balance decreases, it indicates that the market's demand for stocks decreases, and investors' confidence in stocks may decline.

Changes in the financing balance can serve as an indicator of market sentiment and have important reference value for investors. At the same time, changes in the financing balance can also affect market trends. If the financing balance continues to increase, it may drive stock prices upward; if the financing balance decreases, it may have a negative impact on market trends.