"沒用完的財寶" 餘額寶用戶數突破8100萬
A Chinese internet money market fund that launched just nine months ago now has more investors than the country’s equity markets, in a sign of how quickly reforms are reshaping China’s financial services industry.
中國一隻互聯網貨幣基金9個月前才發行，現在的投資者比中國股票市場的都多，顯示了中國金融服務業正在經歷多麼快速的重整改革。The total number of investors in Yu’e Bao, an online fund launched by ecommerce giant Alibaba Group in June last year, topped 81m at the end of February, compared with about 77m active equity trading accounts in the whole country at the start of this month.
餘額寶(Yu’e Bao)是電子商務巨頭阿里巴巴集團(Alibaba Group)去年6月發行的一款互聯網貨幣基金，到今年2月底，其投資者總人數已突破8100萬，與之相比，今年3月初全國股市的活躍交易賬戶只有約7700萬戶。The explosive growth has propelled Yu’e Bao, which means “leftover treasure”, up the global rankings of the biggest money market funds.
餘額寶的意思是“沒用完的財寶”，在這股爆炸式增長的推動下，它一躍成爲全球最大的貨幣基金之一。
Senior Chinese financial officials told the Financial Times that it had accumulated at least Rmb500bn ($81.4bn) in deposits by the second week of March, making it the fourth-largest money market fund in the world, according to Lipper, a data provider.
中國金融高官向英國《金融時報》透露，根據研究機構理柏(Lipper)提供的數據，截至3月第二週，餘額寶已積累了至少5000億元人民幣（814億美元）存款，成爲全球第四大貨幣基金。Investors have been attracted to Yu’e Bao and other online funds by annual interest rates of about 6 per cent for deposits that can be withdrawn on demand, compared with the government-imposed upper limit of 3.3 per cent that banks can offer on one-year deposits.
餘額寶等互聯網基金吸引投資者的地方，在於存款的年化收益率可達6%，並且能隨存隨取，而中國政府所施加的銀行一年期存款利率的上限爲3.3%。The rate for ordinary demand deposits in savings accounts at major banks is just 0.35 per cent a year. The rapid expansion in a sector that did not exist a year ago has led to warnings that it could pose risks to China’s debt-laden economy.
各大銀行的普通活期存款賬戶年利率僅爲0.35%。這個一年前才橫空出世的行業的迅速擴張，已經引來警告說它能對中國債務重重的經濟構成威脅。“These [new internet financial products] have the potential to topple the Chinese financial system into the abyss,” said Lv Suiqi, deputy head of Peking University’s finance department.
北京大學(Peking University)經濟學院金融學系副主任呂隨啓表示：“這類（新型互聯網金融產品）有可能將中國金融體系推下深淵。”But the Chinese government appears eager to continue with financial reforms, including interest rate liberalisation and deregulation of the state’s monopoly in financial services.
但中國政府展現出了繼續金融改革的熱情，包括放寬對利率的限制，並解除對金融服務的國有壟斷。In his annual State of the Union address to China’s ersatz parliament last week, premier Li Keqiang pledged that his government would “promote the healthy development of internet banking”.
中國總理李克強上週在人大會議上作政府工作報告時，承諾中國政府將“促進互聯網金融健康發展”。Intense investor interest in Yu’e Bao and the flood of copycat offerings from companies such as Baidu and Tencent is especially evident from growth rates in the past two months.
投資者對餘額寶的濃厚興趣，以及百度(Baidu)、騰訊(Tencent)等公司的跟風效仿，尤其體現於該行業過去2個月的高速增長。The number of Yu’e Bao depositors rose from 49m as of January 15 to 81m by February 26, according to Tianhong Asset Management, Alibaba’s partner in the venture.
根據阿里巴巴的餘額寶合作伙伴天弘基金管理有限公司(Tianhong Asset Management)的數據，餘額寶用戶人數在1月15日爲4900萬，至2月26日上升到8100萬。
