中國將對移動支付設限 高層博弈最終結果?

China's largest Internet firms have had startling success elbowing their way onto the turf of the state-run banks, but now the country's banks and regulators are pushing back.

中國大型互聯網企業不僅殺入了國有銀行的地盤，並且取得了令人驚訝的成功，但中國銀行業和監管機構現在開始反擊了。

The central bank said Monday it would set limits on the amount Chinese can spend using smartphone payment services. In an interview with the official Xinhua News Agency posted to its website, the People's Bank of China said the proposed caps were designed to limit business risks, but it didn't specify what the risks are.

中國央行週一說，將對智能手機支付服務的付款額度設限。中國央行接受官方媒體新華社採訪時說，擬此上限的初衷是限制商業風險，但未明說是哪些風險。新華社網站上公佈了這一採訪稿。

The central bank said it hadn't yet determined the size of the limits on mobile spending. It said it had drafted new rules but would weigh input from consumers and Internet firms before finalizing them.

中國央行說，尚未確定對移動支付額度進行多大規模的限制。該行說已起草了新規定，但在定稿前會考慮消費者和互聯網企業的意見。

A move to curtail the amounts transferred over mobile-payment services potentially cuts off a multibillion-dollar business for companies such as Alibaba Group Holding, an e-commerce titan, and rival Tencent Holdings Ltd., which have been rushing to release products helping smartphone users shop with their phones. The regulatory blowback comes at a tough time for Alibaba, which is preparing for a listing in the U.S. that could raise as much as $15 billion.

限制移動支付服務轉賬金額的舉措可能會切斷電子商務巨頭阿里巴巴集團(Alibaba Group Holding)及其對手騰訊控股有限公司(Tencent Holdings Ltd.)等企業規模達數十億美元的業務。這些企業近來紛紛發佈產品，幫助智能手機用戶通過手機購物消費。中國監管部門出臺此舉時，阿里巴巴正面臨準備赴美上市的嚴峻時刻，其上市籌資額最多可能達到150億美元。

Last week, responding to Chinese media reports that the central bank had proposed a cap on mobile payments of 10,000 yuan (roughly $1,600) a month, Alibaba Chairman Jack Ma said at a Beijing conference: 'Sometimes you're not defeated by technology; sometimes it's a document.'

中文媒體報道稱，中國央行提出了每月人民幣1萬元的移動支付限額，上週迴應相關報道時，阿里巴巴董事局主席馬雲(Jack Ma)在北京的一場會議上說，有時候，打敗你的不是技術，可能只是一份文件。

The big state banks already have moved to cap the amounts depositors can transfer into online products, actions that drew an exasperated response Sunday from Alibaba's Mr. Ma.

中國國有大銀行已經採取行動，限制儲戶對在線產品的轉賬金額。此舉週日引發馬雲不滿。

'What determines success in the market shouldn't be the monopolies and those with power, but the consumers,' Mr. Ma wrote in a post shared on Alibaba's mobile-messaging application.

馬雲在阿里巴巴旗下的移動短訊應用軟件上發帖稱：“決定市場勝負的不應該是壟斷和權力，而是用戶。”

Although China's central bank has said repeatedly it supports financial innovation, how it tries to regulate the Internet firms is being watched as an indicator of Beijing's commitment to overhauling state-run enterprises. Economists say subjecting protected state-controlled sectors to more direct competition will be key to spurring consumption and putting China's economy on a healthier footing.

雖然中國央行反覆表示支持金融創新，但外界正在密切關注央行對互聯網企業金融業務的監管舉措，並以此檢驗中國政府作出的改革國有企業的承諾。經濟學家表示，爲國有企業控制的行業引入更多競爭，是刺激消費和促進中國經濟健康發展的關鍵所在。

Over the past year, Alibaba and Tencent have attracted tens of billions of dollars by marketing online investment products that feature higher returns than those on savings accounts offered by state banks.

過去一年，因爲提供比國有銀行存款賬戶更高的收益率，阿里巴巴和騰訊推出的互聯網理財產品吸引了數百億美元的資金。

The success has sent ripples through China's state-dominated and heavily regulated financial industry, as many younger Chinese have transferred their savings from the banks into the online products.

許多年輕人用銀行存款賬戶資金購買了互聯網理財產品，這些產品獲得的成功在中國國有企業主導、受到嚴格監管的金融行業引發了震動。

On Saturday, China Construction Bank Corp. became the latest of the major banks to impose limits on transfers to mobile products. It issued a cap of 5,000 yuan, or about $800, per transaction -- and a total of 50,000 yuan a month -- for deposits to Alibaba's Yu'E Bao fund, meaning 'Leftover Treasure,' according to the bank's customer-service department.

上週六，中國建設銀行(China Construction Bank Corp.)也對向互聯網理財產品轉賬設定了額度，成爲最近一家採取此類措施的大型銀行。據該行客服部門稱，該行設定了儲戶向阿里巴巴“餘額寶”進行快捷支付的額度，單筆最高爲人民幣5,000元（約爲800美元），每月不超過5萬元。

For Tencent's online product, the limit is 10,000 yuan per transfer and 50,000 yuan a month, the department said.

該部門稱，對騰訊互聯網理財產品的額度爲每筆人民幣1萬元，每月不超過5萬元。

'No one knows who gave the banks the power to hurt depositors' rights to distribute their capital,' Alibaba's Mr. Ma said in his Sunday post, which was viewed by The Wall Street Journal before it was taken down. 'No one knows who will regulate the legitimacy of the big state banks to join hands and force out' Yu'E Bao.

阿里巴巴的馬雲在週日發佈的文章中稱：“也不知道誰給銀行們權力，可以傷害儲戶支配自己資金的權力。更不知道誰來監管四大‘國手’聯合封殺的合法性？”這篇文章隨後被刪除，在它被刪除前《華爾街日報》(The Wall Street Journal)看到了這篇文章。

In the past two weeks, the central bank has also temporarily suspended online payments using QR codes -- which enable fast recognition of transactions -- and virtual credit cards.

過去兩週，中國央行還暫時禁止使用二維碼進行網上支付和虛擬信用卡業務。二維碼可以加快網上交易確認。

The bank also has suggested that online investment products could be forced to hold reserves on the funds that they attract -- much like banks must do on their deposits.

另外，中國央行還暗示，可能要求互聯網理財產品像銀行存款那樣留存準備金。