| P2P refers to Peer - To - Peer, it’s a form of loan that the individual directly lend to the personal. The origin of P2P online lending can be earliest traced back to the Grameen Bank in Bangladesh, which was founded by Yunus in1983. And the first P2P online lending platform in the true sense was Zopa, established in the UK in 2005.The influence of the traditional banking credit rationing, the financing of small and micro enterprise has always been a difficult problem, combined with increasing contradiction between the residents’growing demand for investment and the narrow domestic investment channels, P2P online lending platform conveniently entered the domestic market. The first domestic P2P online lending platform was established in 2007 called PPDai. In the following years P2P online lending industry developed in a rough way. By the end of 2015, there was a total of 2595 platforms in the domestic, accumulative total volume of 1.3625 trillion yuan, but also many problem platforms exposed at the same time, with the number of problem platforms the new added in 2015 alone was 896, thus caused the high social attention and concern.As the credit reporting system in our country was not perfected, during the process of P2P online lending model introduced into domestic, there appeared many "localization" of innovation, such as the payment of the principal mode, risk reserve mode, the third party guarantee, etc.. Combining with frequent phenomenon of platforms running, the author wanted to explore a set of suitable mode for the development of domestic P2P online lending platform. Therefore, firstly this article concluded the experience of foreign platform worth domestic platform learning through the analysis of three typical foreign P2P platform operating model. Secondly, this paper stated the status quo of the P2P industry development in our country in terms of macro overview, including the scale, structure and characteristics, and then selected HongLing Capital for case studying. We compared HongLing Capital with PPDai and YiRenDaiand to sum up the advantages and disadvantages of each platform through the comparison of operation mode, risk control mechanism and business ability. Through the analysis of the comparsion of three models in this paper, we concluded the generality of three platforms’future developing strategy, namely (1) the risk reserve mode will quit the historical stage, (2) the third party guarantee will become the best credit promotion way, (3) the pure information intermediary platform will become dominant model, and then the author thinks that it will be the optimal mode selection for the future development of domestic P2P online lending. Thirdly, this paper found out better patterns of the future development strategy for HongLing Capital platform by using SWOT analysis method.Finally, combining with our country realistic national condition and market environment, this paper provides some specific advices for government regulators, the platform and investors, three main bodies of the lending market. At last, We hope that P2P online lending will add the momentum to Chinese economic development through the joint efforts of each part. |
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