Study On The Legal Supervision Of China Folk Loan

Since the reform and opening up and with the continuous economy and societydevelopment, private lending, as a non-formal financial form. has received more andmore attention, and has become an important part of China’s financial system. As theprivate lending research started late at our academic circles, there is almost no anycontroversy on the legitimacy of the private lending itself. However, there are a lot ofcontroversy on whether the official legal status should be endowed to the privatelending who attracts deposits specially, then loan the deposits. Currently, there aremany problems on the legal regulatory of private lending in our country. There is nospecific regulatory bodies, and also lack of a special laws and regulations for privatelending. Through the analysis of the current situation and problems of China’s privatelending, also integrated use of civil law, economic law, jurisprudence, criminal law andlegal theory, put forward some countermeasures to improve the private lending legaland regulatory system. This paper is divided into five parts, each part of the contentsare summarized as follows:The first part, the summarize of private lending, which explores the definition ofprivate lending, classification and legal characteristics, and the reason for thedevelopment of private lending and analysis of the pros and cons of China’s privatelending from the macro described.The second part, the current situation and problems of legal regulation of China’sprivate lending. Which is from the investigation and analysis of related legislation andregulatory status in our country’s private lending, has shown the main problems existedat the legal regulatory of private lending in our country, including Legal characterizationis quite bad, lack of a systemic regulatory legal system, lack particular regulatory body,the regulatory tools have been seriously lagging behind and the regulation is definedimproperly.The third part, countermeasures to improve the legal and regulatory system inChina’s private lending. Which is the key point of this article. Regarding on the currentsituation and the main problems for the legal regulation of China’s private lending, thispaper has raised the principles which the legal regulatory of our country’s privatelending should respect. And meanwhile, raised the writers’ ideas to perfect somerelated detailed regulation, include: the improving of the legal regulatory of normalprivate lending and the improving of the legal regulatory of special private lending, andso on.