China leads world in online finance sector

China is moving to rein in its fast-growing and innovative online finance sector, which offers a glimpse of how the rest of the world may someday handle money.

中国正采取措施以控制其迅猛发展的创新型互联网金融行业。这一行业有助于预见未来其他国家处理金融业务的方式。

Chinese Internet companies have transformed the average smartphone into a platform for cashless transactions, bank transfers, loans and investments far beyond what is common in the U.S. With many skipping credit cards entirely, Chinese people buy money-market funds, split a restaurant check and pay for services ranging from taxis to takeout food all within the same phone app.

中国互联网企业已将普通智能手机变为无现金交易、银行转账、贷款和投资平台，其应用范围已远超在美国所普遍使用的功能。许多中国人已完全不使用信用卡，他们使用一个手机客户端就可以购买货币基金、餐厅AA付款、为出租车和外卖等各种服务付费。

Last year, nearly a quarter of China's population—a number bigger than the total U.S. population—made payments online. Data provider Euromonitor International estimates that China's mobile payments this year will total $213 billion, compared with $163.5 billion for the U.S. The biggest payment service, an affiliate of e-commerce giant Alibaba Group Holding Ltd. called Alipay, has 400 million users.

去年，近1/4的中国人使用了在线支付，这个数字比美国的人口总数还多。欧睿信息咨询公司的数据显示，今年中国的移动支付总额将达到2130亿美元，而美国为1635亿美元。中国最大的支付平台是电子商务巨头阿里巴巴旗下的支付宝，其用户数达到4亿。

"These numbers are phenomenal when compared to other payment providers that operate globally," said Ng Zhi Ying of Forrester Research Inc.

福里斯特研究公司的吴志英说："与其他在全球运营的支付平台相比，这些数字非常可观。"

Internet companies are pushing to allow users to open online-only bank accounts on their smartphones, with their identities confirmed via selfies. Meanwhile, China's peer-to-peer, or P2P, lenders, which connect investors with borrowers through online networks, are set to make $33.2 billion in loans this year, 43% more than in the U.S., and could see issuance triple over the next two years, according to Morgan Stanley projections.

目前，互联网企业正在推动让用户在其智能手机上开通仅限在线使用的银行账户，他们可以通过自拍照进行身份认证。与此同时，根据摩根士丹利的预测，今年中国P2P企业（通过在线网络将投资者和贷款者联系在一起的借贷企业）的借贷规模将达到332亿美元，比美国同业高出43%，未来2年有望达到现有规模的3倍。

"In China, you see a lot of stuff happening for the first time over the mobile and Internet platforms," said Tim Pagett, financial-services industry leader at Deloitte China, adding that Chinese consumers may soon buy cars and insurance via their phones. In terms of how widely Internet finance is used, he said, "China is far ahead of the rest of the world."

德勤会计师事务所金融部主管蒂姆·佩吉特说："在中国，你会看到许多第一次用于移动和互联网平台的东西。"佩吉特说，中国消费者也许不久就能通过他们的手机购买汽车和保险。在谈到互联网金融的应用范围时，佩吉特说，"中国远远领先于世界其他地方"。

Internet finance is touching parts of China's economy—everybody from students to farmers to truck drivers—long denied credit in China's state-run banking system. In the port city of Tianjin, long-haul trucker Shi Junze fell on tough times two years ago when transportation fees dropped and clients delayed payments. "We were at a point where we basically could no longer maintain our trucks," Mr. Shi said. "And banks wouldn't give loans to ordinary people like us."

互联网金融正在渗透中国经济的各个部分——那些长期以来被中国国有银行体系拒绝给予信用额度的所有人，包括学生、农民和卡车司机等。在港口城市天津，长途卡车司机石俊泽两年前曾因运输费下降和客户推迟付款而陷入困境。他说："当时，我们几乎养不起这些卡车了。银行又不肯贷款给我们这样的普通人。"

Fincera Inc., an online truck-financing service supported by a P2P lending platform, gave him 30,000 yuan in monthly credit for repairs, maintenance and gasoline.

后来，Fincera公司为石俊泽提供了每月3万元的贷款，用于卡车的维修保养和汽油支出。Fincera是一家由P2P借贷平台支持并专为卡车运输行业提供在线融资的企业。

Internet finance in China has skyrocketed largely because traditional banks haven't provided many individuals with access to investment vehicles and other ways to increase their money. Banks have stuck to lending primarily to state-owned enterprises because they have implicit or explicit government backing for debt repayment, which makes them seem more secure.

互联网金融在中国飞速发展的主要原因是，传统银行没有为众多个人投资者提供让其财富升值的投资途径。银行的贷款对象主要是国有企业，因为国有企业在偿债方面直接或间接受到政府支持，这使他们看上去更为安全。