中國擬對在線消費貸款收緊監(jiān)管

China is preparing to tighten regulation of online consumer lending as part of a campaign against financial risks, dealing a possible setback to Chinese fintech groups that hope to sell shares in the US.

中國正準備收緊對在線消費貸款的監(jiān)管，作為遏制金融風險全面行動的一部分，此舉對希望在美國發(fā)售股票的中國金融科技集團來說可能是一個挫折。

Household debt in China remains low as a share of GDP, and authorities have encouraged growth of consumer credit as a way to rebalance the economy towards consumer spending, but now concerns are rising about irresponsible lending practices online.

中國家庭債務與國內(nèi)生產(chǎn)總值(GDP)之比仍然很低，同時當局鼓勵消費信貸增長，視其為推動經(jīng)濟再平衡、加大消費支出比重的一種方式，但眼下各方對不負責任的在線放貸做法日益擔憂。

At a forum on internet finance on Saturday, a central bank official said that regulatory agencies will guard against risks from rapid growth of consumer lending.

在上周六舉行的一個互聯(lián)網(wǎng)金融論壇上，中國央行的一名官員表示，監(jiān)管機構(gòu)將防范消費貸款快速增長的風險。

“The public has doubts about its operating model and has appealed for it to be brought under regulation,” Ji Zhihong, head of the financial markets department at the People’s Bank of China, said of the industry. “In order to prevent and resolve the related risks, the central bank is working with the related departments to deal specifically with risks from internet finance.”

中國人民銀行(PBoC)金融市場司司長紀志宏在談到該行業(yè)時表示，公眾對其經(jīng)營模式有疑問，呼吁將其納入監(jiān)管。他說：“為防范化解相關風險……人民銀行會同相關部門組織開展了互聯(lián)網(wǎng)金融風險專項整治。”

Online consumer lending has replaced peer-to-peer lending as the trendy new area in Chinese fintech, as a regulatory crackdown on P2P reduced that sector’s profitability. Short-term consumer loans outstanding in China grew by Rmb1.49tn ($225bn) through the first nine months of this year, compared to an increase of Rmb830bn for all of 2016, according to PBoC data.

在線消費貸款已取代P2P貸款(監(jiān)管機構(gòu)的打擊削弱了P2P貸款行業(yè)的盈利能力)，成為中國金融科技的時髦新領域。中國央行數(shù)據(jù)顯示，今年前九個月，中國未償還短期消費貸款增加1.49萬億元人民幣(合2250億美元)，相比之下2016年全年增加8300億元人民幣。

Online lender Qudian, backed by Alibaba Group affiliate Ant Financial, raised $900m this month in an initial public offering on Nasdaq, the largest IPO in the US by a Chinese company this year. Qudian’s shares jumped as much as 48 per cent on their trading debut on October 18, but on Friday they had dropped below the IPO price, due in part to investor concerns about tighter regulations.

阿里巴巴集團(Alibaba Group)關聯(lián)企業(yè)螞蟻金服(Ant Financial)參與投資的在線貸款機構(gòu)趣店(Qudian)，10月在納斯達克(Nasdaq)完成首次公開發(fā)行(IPO)，籌得9億美元。這是今年以來中資企業(yè)在美國進行的最大規(guī)模IPO。趣店股價在10月18日交易首日一度大漲48%，但在上周五跌破上市發(fā)行價水平，部分原因就是投資者擔心監(jiān)管收緊。

Qudian lets students and young professionals buy mobile phones, laptops and other gadgets on monthly instalments. Launched in 2014, Qudian began by lending to students, but regulators banned such lending last year following a series of scandals including the use of nude photos as collateral. Since then Qudian has ostensibly shifted to white-collar workers, but some investors worry that students may still be among its clients.

趣店讓學生和年輕專業(yè)人士通過每月分期付款購買手機、筆記本電腦和其他設備。在2014年推出服務的趣店，在開始時向?qū)W生放貸，但在爆發(fā)一系列丑聞(包括使用裸照作為抵押品)后，監(jiān)管機構(gòu)去年禁止了這種貸款。此后，趣店號稱轉(zhuǎn)向白領，但有些投資者擔心其客戶群體仍然包括學生。

Caixin, a respected financial news website, reported on Saturday that the China Banking Regulatory Commission is drafting a comprehensive regulatory framework on internet consumer lending, citing unnamed sources.

受尊敬的財經(jīng)新聞網(wǎng)站財新網(wǎng)(Caixin)上周六援引消息人士的話稱，中國銀行業(yè)監(jiān)督管理委員會(CBRC)正在起草一套針對互聯(lián)網(wǎng)消費者貸款的綜合監(jiān)管框架。

Neither Qudian nor the CBRC responded to request for comment on Sunday.

趣店和中國銀監(jiān)會周日均未回應記者的置評請求。

Regulators have also moved in recent weeks to crack down on consumer loans being illegally channelled into the property market as mortgage downpayments.

監(jiān)管機構(gòu)最近幾周還采取行動，打擊將消費貸款引入房地產(chǎn)市場、作為抵押貸款首付的非法行為。

A district government in Shanghai called a meeting with consumer loan companies recently in which it warned them against abusive practices, including use of violence to press borrowers for repayment and charging annualised interest above the legal maximum of 36 per cent, Caixin also reported.

財新網(wǎng)還報道，上海一個區(qū)政府最近召集消費貸款企業(yè)開會，警告它們不要亂來，包括使用暴力方式施壓借款人還款，并收取高于36%法定上限的年化利率。

At least three Qudian rivals — Paipaidai, Hexindai, and Lexin Fintech — have also filed for US listings. Lexin is backed by e-commerce group JD.com, which in March spun off its own lending unit as an independent company, JD Finance, in a $2.1bn deal.

至少有三家趣店競爭對手——拍拍貸(Paipaidai)、和信貸(Hexindai)，以及樂信(Lexin Fintech)——也已申請在美國上市。樂信獲得電子商務集團京東(JD.com)投資。京東在今年3月剝離其放貸部門，使其成為一家獨立公司——京東金融(JD Finance)，那筆交易價值21億美元。

Additional reporting by Yizhen Jia 賈一真補充報道