Study On Supervision Of P2P Lending Industry

The explosive growth of P2 P online loan services since the year of 2007 has put forward pressing requirements for China's supervision authorities.In the process of development for this new pattern of internet finance,the judicial cases concerned with P2 P have been emerged one after another.The civil cases in this filed include private lending and assignment of debt while the criminal cases are represented by illegal attractions of deposits from the public and fraudulent fund-raising.Based on the legal problems discovered in the hearing of such cases,we can conclude that the incidence rates of P2 P cases remained high from the year 2007 to2015 due to lack of supervisions.Therefore,we should reflect on improvement measures about the regulation documents and governing modes for supervisions.This article has analyzed the features for major cases related to P2 P,stressed on the necessity and difficulties for supervisions and introduced the foreign supervision modes.Meanwhile,from the perspective of our supervision regulations and based on the spirit of Guideline on Promoting Healthy Development of Internet Finance,it evaluated and analyzed Interim Procedures for Business Activities and Management of P2 P Lending Information Intermediary and Internet Finance Information Disclosure---Individual P2 P Lending,which were respectively released by China Banking Regulatory Commission and National Internet Finance Association Of China.In the article,the author affirmed the important roles and significances of these two professional documents for the supervision of P2 P industry in China and proposed disadvantages and related improvement suggestions : With respect to the supervision cooperation,the author suggested that each sector should design scientific cooperative methods,especially for the deployment of personnel;reinforce the training of internet knowledge and P2 P market investigation,and promptly discover new problems and set up proper communications between each sector.As for the supervision documents,the article advised that we should change filing records to registration,stipulate market access standard and strengthen pre-supervision for the industry;Concerning the implementation of supervision,we should attach importance to the role of industry association,give full play to the role of self-discipline organizations in the market regulations to resolve disputes,popularize regulations and policies and formulate industry standard.The subject of this article is the supervision of P2 P industry.By identifying the current situation of supervision andimproving the supervision rules,the author expected to effectively correct various illegal practices in P2 P industry and promote the steady and healthy development of internet finances.