中國(guó)從嚴(yán)整頓互聯(lián)網(wǎng)金融

China’s central bank is leading a wide-ranging clean-up of the country’s unruly internet finance sector,including a suspension on registering newcompanies with “finance” in their names, local mediahave reported.

據(jù)中國(guó)媒體報(bào)道，中國(guó)央行正在牽頭對(duì)國(guó)內(nèi)不守規(guī)矩的互聯(lián)網(wǎng)金融行業(yè)進(jìn)行一場(chǎng)大范圍整治，包括全國(guó)暫停注冊(cè)“金融”相關(guān)字樣的企業(yè)。

Internet finance has grown rapidly in China over thepast two years, but this growth has also attractedfly-by-night operators and outright fraud.

過(guò)去兩年來(lái)，互聯(lián)網(wǎng)金融在中國(guó)快速發(fā)展壯大，但也出現(xiàn)了卷款潛逃的從業(yè)者和明目張膽的欺詐行為。

Last week, multiple agencies led by the People’s Bank of China approved a plan for cleaning upinternet finance, respected business news magazine Caixin reported on its website.

受人尊敬的財(cái)經(jīng)媒體《財(cái)新網(wǎng)》在其網(wǎng)站上報(bào)道稱，上周，以中國(guó)人民銀行(PBoC)為首的多個(gè)機(jī)構(gòu)批準(zhǔn)了一份整治互聯(lián)網(wǎng)金融的方案。

The multi-agency task force will undertake a one-year crackdown on fraud and risk in onlinepayments, peer-to-peer lending, equity crowdfunding, wealth management and onlineinsurance, Caixin said.

這個(gè)跨機(jī)構(gòu)工作組將針對(duì)網(wǎng)上支付、P2P借貸、股權(quán)眾籌、理財(cái)和互聯(lián)網(wǎng)保險(xiǎn)等領(lǐng)域的欺詐和風(fēng)險(xiǎn)進(jìn)行為期不到一年的整治。

Analysts have said increased regulation was likely to benefit larger players such as AntFinancial, the Alibaba Group affiliate, and Tencent Holdings by reducing competition fromsmaller rivals.

分析人士表示，加強(qiáng)監(jiān)管很可能減少來(lái)自規(guī)模較小企業(yè)的競(jìng)爭(zhēng)，從而有利于規(guī)模較大的企業(yè)，如阿里巴巴集團(tuán)(Alibaba Group)旗下的螞蟻金服(Ant Financial)以及騰訊控股(Tencent Holdings)。

The latest plan instructs province-level agencies responsible for registering corporations —known as administrations for industry and commerce — not to approve new registrations ofcompanies when the world “finance” appears in their name or business description, Caixinreported separately.

財(cái)新網(wǎng)另外報(bào)道稱，《互聯(lián)網(wǎng)金融風(fēng)險(xiǎn)專(zhuān)項(xiàng)整治工作實(shí)施方案》指示負(fù)責(zé)注冊(cè)公司的省級(jí)機(jī)關(guān)——工商系統(tǒng)——暫停登記注冊(cè)在名稱、經(jīng)營(yíng)范圍中含有金融相關(guān)字樣的企業(yè)。

P2P and crowdfunding are a particular focus of the clean-up, Caixin reported. The PBoC planforbids P2P companies from fundraising for their own projects or guaranteeing loans.

據(jù)財(cái)新網(wǎng)報(bào)道，P2P和眾籌是這場(chǎng)整治的“重中之重”?！秾?shí)施方案》禁止P2P公司“自融自保”，即為自己的項(xiàng)目募集資金或擔(dān)保貸款。

It also calls for a crackdown on maturity mismatch in P2P lending and “fund pools” in whichinvestor funds are not matched with specific loans but combined into a single pool.

它還要求打擊P2P借貸和資金池之間的期限錯(cuò)配，即投資者的資金不是與具體貸款匹配，而是被組合成一個(gè)池。

Some P2P platforms have attracted customers by selling short-maturity investment productseven when underlying loans are of longer maturity. Then they use sales of new products tofund payments due on maturing ones.

一些P2P平臺(tái)通過(guò)銷(xiāo)售期限較短的投資產(chǎn)品吸引客戶，即便基礎(chǔ)貸款的期限更長(zhǎng)。然后他們利用新產(chǎn)品的銷(xiāo)售所得支付到期產(chǎn)品的應(yīng)付款項(xiàng)。

The plan also calls for a crackdown on P2P loans used for mortgage downpayments, which havebeen blamed for the recent surge in property prices in major cities.

《實(shí)施方案》還要求整治用于購(gòu)房首付的P2P貸款，這類(lèi)首付貸被指加劇了最近大城市房?jī)r(jià)飆漲。

Some 3,984 P2P platforms had loans outstanding of Rmb504bn ($78bn) at the end of March,according to Online Lending House, a website that tracks the industry.

追蹤P2P貸款行業(yè)的網(wǎng)站網(wǎng)貸之家(Online Lending House)的數(shù)據(jù)顯示，截至3月底，大約3984個(gè)P2P平臺(tái)的未償還貸款總計(jì)達(dá)到5040億元人民幣(合780億美元)。

For equity crowdfunding, the plan targets platforms that exaggerate the current or potentialprofits of the investment project. It also forbids fundraising projects that are classified asequity but are effectively like debt because they promise a fixed payout.

對(duì)于股權(quán)眾籌，《實(shí)施方案》將重點(diǎn)打擊那些夸大投資項(xiàng)目當(dāng)前或潛在利潤(rùn)的平臺(tái)。它還禁止“明股實(shí)債變相集資”。

Crowdfunding and wealth management platforms are also barred from selling hedge fund-styleinvestment products to retail investors who do not meet the qualifications for buying themthrough offline channels, or from packaging multiple such funds into synthetic products, theplan said.

《實(shí)施方案》稱，眾籌和理財(cái)平臺(tái)還被禁止向不具備線下購(gòu)買(mǎi)資質(zhì)的散戶銷(xiāo)售對(duì)沖基金式的投資產(chǎn)品，也不得將私募發(fā)行的各類(lèi)金融產(chǎn)品通過(guò)打包、拆分等形式向公眾銷(xiāo)售。