Yirendai, the Chinese peer-to-peer lender hit by share price falls after its US listing last week, says it has a two-year “window of opportunity” before international rivals enter its home market.

中国个人对个人(P2P)贷款平台宜人贷(Yirendai)表示，在国际竞争对手进入中国市场之前，该公司拥有两年的“机会窗口期”。宜人贷上周在美国上市后，股价出现下跌。

On Friday, shares in the subsidiary of CreditEase, the Chinese group, listed on the New York Stock Exchange but suffered intraday falls of as much as 16.5 per cent. This initial public offering, to raise $75m, marked the first time a Chinese peer-to-peer lender had sold shares internationally.

上周五，宜人贷在纽约证交所(New York Stock Exchange)上市，但盘中股价最多下跌16.5%。宜人贷是中国企业宜信(CreditEase)旗下子公司。宜人贷此次首次公开发行(IPO)预计融资7500万美元，这是中国首家在海外上市的P2P贷款机构。

Yirendai, China’s version of Lending Clubor Funding Circle, claimed it facilitated $984m of loans during the first nine months of 2015, having made only $41m of loans in the whole of last year.

宜人贷是中国版的Lending Club或Funding Circle，该公司声称，在今年头9个月里，促成了9.84亿美元贷款，而去年全年仅放贷4100万美元。

Tang Ning, executive chairman, said most of the loans were extended to people who would not previously have had access to finance. He expected demand to surge over the coming years.

宜人贷首席执行官兼董事长唐宁表示，多数贷款发放给了原本无处融资的人士。他预测，未来几年需求将飙升。

P2P loans outstanding in China already exceed RMB200bn (20bn) — far more than the 3.15bn of outstanding P2P loans the Peer-to-Peer Finance Association recorded in the UK at the end of July.

中国的未清偿P2P贷款余额已超过2000亿元人民币(合200亿英镑)，而根据英国P2P融资协会(Peer-to-Peer Finance Association)数据，7月底未清偿P2P贷款余额为31.5亿英镑。

However, more than 370 Chinese P2P lenders have already failed — including 270 in the year to June — according to research by Morgan Stanley and Wangdaizhija, the industry tracker.

然而，根据摩根士丹利(Morgan Stanley)和网贷之家的研究，中国已有超过370家P2P贷款机构破产（截至6月的一年有270家破产）。

Companies in the sector are expected to face increased regulation in coming years. Some international banks have been eyeing the Chinese P2P market but Mr Tang said “high entry barriers” should ensure existing domestic providers dominate the market.

预计未来几年该行业的企业将面临更严格监管。一些跨国银行一直在关注中国P2P市场，但唐宁表示，“准入门槛高”将使现有的国内平台能够占据市场主导地位。