Research On P2P Network Loan Platform Model And Its Risk In China

Since the first P2 P network lending platform Zopa was founded in the United Kingdom in 2005, P2 P network lending platform has been rapid developed on the global. A lot of P2 P network lending platforms have been established, such as Prosper and Kiva in the USA, Auxmoney in Germany, Aqush in Japan, Popfunding in South Korea, Comunitae in Spain, Fairplace in Brazil and so on. Lending club successfully listed in the USA in December 2014, it is the first listed P2 P network lending platform. In 2007, the establishment of pat-prime is a mark of P2 P network lending platform formally introduced into China.P2P network lending has been an important part of Internet banking, and plays an important role in financial disintermediation and decentralization. In China, P2 P network lending rapid developed as the background of inclusive financial and serving small and micro enterprises, it has become an important trend in the development of Internet banking. However, the development of P2 P network lending platform presents a chaotic state, since lacking of a better credit rating system in our country, and there are no corresponding laws and regulations to regulate P2 P network lending platform. In 2014, there are as many as 270 P2 P platforms have problems as run away, difficult to cash and collapse, more seriously, there are problems about illegal fund-raising, capital pool, self- financing platform, Ponzi scheme and so on. In August 2011, P2 P network lending raises the alert of regulators,CBRC issued “Everyone loan risks prompt notice”. In 2012, the State Council promulgated the “Regulations credit industry”. In 2013, People’s Bank of China issued the “prompt payment business risk”,to suggest the risk of credit card cash of net loan, and limit the investment of credit card.. In April 2014, the CBRC official said, business of P2 P network lending platform cannot touch “four red lines”: first,clear the nature of platform intermediary; second, platform itself cannot provide guarantees; third, must not imputation funds and build capital pool; the last, must not illegally absorbing public funds. The risk of the industry of P2 P network lendingattaches more and more attention of regulators and investors.In this article, we first introduce the origin and definition of P2 P network lending and P2 P network lending platform. We acquire the support of theoretical and practical by studying the relevant literature at home and aboard, and the knowledge of credit theoretical system, asymmetric information theory, inclusive finance theory and risk control theory. Secondly, we analyze some foreign typical P2 P network lending platform models; classify the existing P2 P network lending platform model in our country, and analyze the characteristics of China’s current P2 P network lending platform model comprehensively, according to whether the platform for commercial purposes, mainly relying way of platform, whether the platform is secured, borrowing funds in escrow and whether the platform exists debt. Then,proceed from the main problems which P2 P network lending platform exposed, we analyze the common risk and some specific risks of different modes.Using the game model to judge whether the platform needs to guarantee, then make a combination of different modes, we can conclude that the combination of online and offline is more in line with our reality, escrow patterns and risk reserve system can help reduce the risk, and the model of bank loan funds hosted is more conducive to control risk. Thus, we suggest forming a combinational P2 P network lending platform of online and offline, third parties guarantee, bank loan funds hosted and risk reserve system. Last, we give some suggestions about how to control the risk of P2 P network lending platform, hope to control the risk of P2 P network lending platform to some extent and promote the healthy development of P2 P network lending industry.