Research On The Protection Of Property Rights And Interests Of Loan Lenders Of P2P Internet Lending In Our Country

P2P Internet Lending,a member of Internet Finance and a way of folk financing,enjoys popularity among people in loan need for its following features: no geographical limitation of lenders and borrowers,low requirements for borrowers,fast lending,low interest rates(compared to other folk financing)——all of those make up the shortcomings of conventional bank lending.However,loan lenders' property rights and interests are damaged increasingly,dampening their enthusiasm to invest in P2 P Internet lending platforms,impeding the development of P2 P Internet Lending.The author tries to dig out the reasons of those and puts forward legal suggestions to eliminate those.Judicial Interpretation of Folk Debit and Credit stipulates that P2 P Internet lending platforms could bear the responsibility for lenders' bond as bondsmen under certain circumstances,transferring the risk of borrowers defaulting from lenders to platforms to stimulate lenders' investment initiative and protect the property rights and interests of them.While regulatory policies of P2 P Internet Lending deny that which causes platforms' careless examination of borrowers' credit.Besides,the above paradox between Judicial Interpretation of Folk Debit and Credit and regulatory policies causes the contradiction beween civil judgements and adminitrative penalties.The author argues that the regulatory policies should be modified to be in line with the judicial interpretation.Before that,regulatory policies could automatically cease to be in force by cancelling the administrative penalties in adminstrative judgements.Futhermore,P2 P Lending platforms are established according to Corporation Law of PRC without minimum registered capital and paid-up requirement,leading platforms' poor capability of guaranty.The author claims that minimum registered capital and paid-up requirement should be included in Interim Procedures on P2 P Network Lending Business Activities.Platforms also introduce guarantee corporations to secure lenders' debts.But those companies always violating legal limits to secure lenders' debts out of self-interest,together with large scale of borrowers' defaulting,it is easy for those firms to be in bankruptcy proceedings and lenders may only realize their claims partly.The author insists that platforms should carefully examine whether the guarantee corporations they introduced secure lenders' debts legally or not and if platforms fail to fulfill this obligation,they should shoulder supplementary bond liability according to their subjective faults.Depository system can separate the capital of platforms and their clients,effectively preventing platforms to commit crime of fraud in financing.But the high cost of depository system constructing and the low legal cost of failing to establish it cause platforms' indolence to construct the system.The author argues that the adminitrative penalty measure of cancellation of licenses should be stipulated in Interim Procedures on P2 P Network Lending Business Activities to eliminate platforms of failing to establish depository system and prevent them to commit crime of fraud in financing.P2 P Internet lending platforms operated via internet and their loan lenders in wide geographical distribution,if platforms are suspected of being involved in crime of fraud in financing,the number of victims and the crime amount are always large,while the Criminal Law of PRC takes no consideration of this.To increase efforts to crack down P2 P crime of fraud in financing,the author deems that a new paragraph should be added into the fifth article of Judicial Interpretation of Illegal Found-raising,stipulating P2 P crime amount to reduce in half compared with other type of crime of fraud in financing.