还不起钱怎么办？还白酒啊！

所属教程:金融时报原文阅读

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2020年08月22日

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还不起钱怎么办？还白酒啊！

就在中国的国有银行谋划以债转股来削减不良贷款的同时，一家陷入困境的P2P贷款平台炮制出一个更加新颖的计划：用很多中国人爱喝的白酒偿还投资者。

测试中可能遇到的词汇和知识：

debt-for-equity 债转股

novel 奇的；异常的['nɒv(ə)l]

fraud 欺骗；骗子；诡计[frɔːd]

surge 汹涌；大浪[sɜːdʒ]

firewater 烈酒，火酒，烧酒['faɪəwɔːtə]

shadow banking 影子银行（指一些提供和传统商业银行类似的金融服务的非银行中介机构(游离于银行监管体系之外)。

阅读马上开始，建议您计算一下阅读整篇文章所用的时间，对照下方的参考值就可以评估出您的英文阅读水平。

如果您读完全文用时为：那么，您的阅读速度相当于每分钟阅读的英文单词数

3分42秒母语为英语者的朗读速度 140

1分11秒母语为英语的中学生的阅读速度 250

1分16秒母语为英语的大学生的阅读速度 350

0分47秒母语为英语的速读高手 1000

Struggling Chinese P2P lender offers to repay investors with baijiu（479words）

By Ben Bland in Hong Kong

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While China’s state-owned banks plot debt-for-equity swaps to cut bad loans, one struggling peer-to-peer lender has brewed up a more novel plan: repaying its investors in baijiu, the popular Chinese liquor.

Chinatou.com said last week that it was no longer able to return cash to investors following the arrest of its chairman. Instead, it pledged to pay them in baijiu produced by a connected company “to minimise the loss to investors”.

The company, which is based in eastern Anhui province, owed Rmb230m ($35m) to 1,850 investors as of the middle of last month, according to Caixin, a respected Chinese business magazine.

Peer-to-peer lenders — who take in cash from investors and lend it directly to other individuals or businesses — have grown rapidly in China over the past few years. Total outstanding debt in the sector reached Rmb576bn at the end of May, according to Online Lending House, a Chinese website tracking the sector.

But the largely unregulated sector, part of the country’s bigger system of shadow banking, has been hit by a number of scandals from badly run operations to full-on frauds, such as the multibillion-dollar Ponzi scheme at a company called Ezubao.

China’s central bank and other authorities launched a wide-ranging crackdown on fraud in the internet finance sector this year, spanning everything from peer-to-peer lending to equity crowdfunding and online insurance.

The Chinese government, which has come under attack for its management of the currency and stock markets, is worried that financial scandals will threaten stability in the banking sector.

Total debt in China has jumped over the past few years, rising to 237 per cent of gross domestic product in the first quarter of this year, from 148 per cent in 2007.

The surge in credit has added to imbalances in the economy and stoked fears that bad debts will rise as economic growth continues to slow.

Zhou Qinde, the chairman of Chinatou.com, was arrested after investors complained about him this month, the Anhui province-based company said on its website.

Mr Zhou is also the chairman of the Anhui Longshu Liquor Company, whose products were offered to Chinatou.com investors in place of cash.

The peer-to-peer lender said on its website that it aspires to be the “pilot for the efficient use of private capital, the dreams of young entrepreneurs and the spring of China’s microfinance sector”.

But investors complained that their deposits were held by the company rather than lent out to third parties, according to Chinese media reports.

A story in the Beijing News, a state-controlled media outlet, warned that baijiu was a bad investment choice for investors because the value is hard to assess and it is difficult to sell. Chinese drink between 10 and 17bn litres of the grain-based liquor — sometimes dubbed “firewater” — each year and a bottle can cost from a few dollars to a few hundred thousand dollars for the best vintages.

请根据你所读到的文章内容，完成以下自测题目：

1. Why did the Chinatou.com pay its investors in baijiu?

A. to keep its pledge

B. to minimise the loss to investors

C. to make friends with them

D. to advertise its connected company

2. Where is the company’s headquarters?

A. Anhui

B. Hebei

C. Shanghai

D. Shenzhen

3. Which one is not mentioned as the supervisory target from China’s central bank and other authorities on fraud?