Study On Legal Issues Of P2P Network Lending In China

P2P network lending is a personal direct lending which is achieved through an independent third-party network platform and depends on the Internet technology. Platform of P2 P is an information intermediary, which matches the behavior of borrowers and investors. It provides intermediary services to achieve the combining of assets side and funds side. P2 P network lending is a part of internet finance, which has achieved financial disintermediation and promoted the development of the inclusive finance. P2 P network lending which was originated in Britain and the United States develops very fast after introduced to our country. The number of P2 P platforms in our country has been rising and its business pattern has also been innovating. Because there are no barriers to entry, no industry standards, no regulators in our country’s P2 P network lending, the risk problems of runnning, difficult to withdrawl and collapsing have always been happening. The number of P2 P problem platforms in our country has gone to 896 in 2015. Regulation has come in2015, but P2 P network lending is an innovation, we should learn from Britain and the United States in regulation of P2 P. And also we should make a moderate supervision on P2 P in accordance with the law.In this paper, besides introduction and conclusion, the main text is divided into four parts:The first part provides a general description of P2 P network lending. At first, the P2 P network lending is defined and classified, and then 5 business models and 5 kinds of risk control modes of P2 P network lending are analyzed in detail. So we can carry out an all-round three-dimensional interpretation to P2 P network lending from business models and risk control which are its two core areas.The second part studies the main legal problems of P2 P network lending, such as the legitimacy of P2 P network lending, the illegal fund-raising of P2 P network lending, the credit of P2 P network lending and the legitimacy of the investors’ money.The third part mainly introduces and comments on the regulatory experience of UK and the United States to P2 P network lending.In the fourth part, we explore and analyze the regulation of P2 P network lending in our country, and discuss 9 specific regulatory measures. Britain and the United States have much regulatory experience which is worth using for reference. We should combine the actualconditions of our country, and make an appropriate supervision on P2 P network lending in accordance with the law.