Discussion On Creditor’s Protection Of Chinese P2P Network Lending

Since 2007,the first network lending platform in China has been launched,P2 P network lending has developed for more than ten years in China,the market is growing faster and faster,the scale of the platform is growing too.P2 P network lending plays a significant role in promoting inclusive finance and helping the development of small and medium-sized enterprises.However,the industry has been lack of effective supervision and constantly innovate a variety of business models with the property of “credit intermediary”.Under the background of imperfect credit investigation system and lack of risk awareness among creditors,the industry risks are gradually exposed,such as business suspension,fled,illegal fund-raising and other events occur frequently,the civil rights of creditors are seriously violated.Especially in strengthening the regulatory stage,most of the platforms are facing retreat pressure,and it is difficult to realize the creditor’s rights when resolving the lending stock.Therefore,the research on the protection of creditors has great significance.In addition to the introduction and conclusion,this article consists of six parts:The first part introduces the development of P2 P network lending in China.Firstly,it defines the definition and characteristics of network lending,and then summarizes the development process of domestic network lending platform in three stages: germination and exploration?period,explosive growth period and compliance retreat period,as well as the four business models evolved in this process.Finally,it points out the compliance positioning of “information intermediary” of network lending platform.The second part starts with the theoretical basis of creditors protecting,analyzes the civil legal relationship involved in P2 P network lending,lists the civil rights and obligations that creditors should enjoy and perform,so as to illustrate the practical significance of protecting creditors.The third part combs the current situation of the relief of the creditor’s civil rights in the network lending in China,which is manifested in three aspects: private relief,social relief and public relief.Among them,I further summarizes the common legal basis and common dispute focus in civil litigation cases,mainly including the qualification of litigation subject,the determination of the validity of loan contract,the calculation of loan amount and interest,and the bearing of guarantee responsibility,which is intended to help creditors gain the way of right relief and solve disputes more efficiently.The fourth part studies the creditor protection mechanism of extra-territorial network lending,and analyzes the beneficial explorations made by the United Kingdom and the United States in protecting creditors in three aspects: government supervision,industry self-regulation and platform protection,in order to provide some theoretical and technical support for improving the creditor protection mechanism in China.The fifth part analyzes the problems existing in the creditor protection of network lending in China.After strengthening and implementing the supervision,there are still some problems,such as formalization of capital deposit,hidden dangers of compliance guarantee,difficulties in electronic evidence collection and authentication,which need to be solved targeted.In the sixth part,under the background of China’s compliance retreat period,putting forward some differential suggestions to improve the compliance platform and retreating platform,including optimizing capital depository,gradually “remove guarantee”,standardizing the signing and storage of electronic contracts,multi-dimensional protection of creditors;unified retreat guidance scheme,compacting the responsibilities of shareholders and related parties,improve the litigation model of “equal emphasis on criminal and civil”.