The Legal Risk Prevention Of Person To Person Lending In China

The rapid development of internet technology and the increasing financing demand make the emergence of P2 P network lending possible.This flourishing financing method has developed rapidly in China by virtue of convenience,high yield and so on.P2 P lending is of great significance for easing the financing difficulties of small and medium-sized enterprises,activating the financial market and building inclusive finance system.As rapid development of P2 P lending platforms and continuous innovation of their models,incidents that threaten social stability and financial security occur frequently.The government has issued a series of regulatory documents to strengthen the supervision of the P2 P industry since 2015,such as fund depository,information disclosure,and filing management.The problem of this industry has been initially eased,but it still needs to be further regulated to ensure rational development of the industry.The main idea of this paper aims to characterizing the online lending platform as an information intermediary and strengthening the risk control system to protect financial consumers.What’s more,credit information system should be completed to promote transaction security.The author hopes to put forward some constructive suggestions to regulate the P2 P lending risk.The author points out the disadvantages of the credit transfer model and the self-guarantee model by interpreting the regulatory documents and sorting out the P2 P network lending judicial case,and the author also emphasizes the necessity of returning to the information intermediary model by comparing the different operating mode platforms in China.Then the paper summarizes the legal risks that may be involved from the perspective of the platform,lenders and borrowers,and further clarifies the superiority of the information intermediary model.At the same time,the author studies the legal risk prevention system of P2 P network lending platform in representative countries,and summarizes it from legal system,regulatory subject,platform nature,consumer rights protection and credit construction.Furthermore,it is proposed that legal risk prevention system should be established from the aspects of information intermediary regression,consumer protection and the credit information system construction.