Research On The Supervision System Of P2P Online Lending In China

P2P lending is a new form of borrowing that is independent of traditional financial institutions.When Zopa,the world's first P2 P lending platform,was born in the UK in March 2005,the lending model was rapidly growing worldwide.In 2007,China's first P2 P online lending platform "paipai" was established,and since 2013,the platform has exploded.P2 P online lending is a direct financing mode for individuals(or enterprises).In contract to the robust boom of the P2 P online lending industry in our country,since the end of 2013,P2 P online lending platform chaos erupted,in particular,and even runaway with fund,leading to mass bankruptcies.This is very much the result of the government's tolerance and encouragement of the financial innovation of P2 P at its infant stage.In 2015,the regulatory authorities began to promulgate policies to regulate the P2 P lending market,and the continuous strengthening of supervision was also the accelerator of the "big shuffling" of the online lending industry.Especially the Interim Measures " and " Registration Guidelines "," Capital Depository Guidelines "," Information Disclosure Guidelines”,end the long-term regulatory vacuum,forming the "1+3" regulatory framework,marking the entry of P2 P industry into the "post-regulation" era.In this new era,whether our P2 P online lending businesses will be steered into regulatory development and what are the new regulatory issues of the industry,are the contemporary issues that shall be addressed.For purpose of the lasting healthy and orderly development of P2 P online lending industry,and reducing risks,based on the status quo of P2 P online lending industry and the post-regulation issues in China,draw lessons from P2 P industry regulatory practices Anglo-American countries,the analysis in this article mainly centers on the concrete issues in respect of regulators,platform management behaviors,the credit system,the financial aspects of consumer protection,industry self-discipline,suggesting to establish dynamic normalization between central and local regulatory coordination mechanism,improve the market access and exit mechanism,strengthen the platform of information disclosure and reporting obligations,improve the consumer financial protection,rebuilding social credit system construction,improve the industry self-discipline system,with a view to providing advice on the improvement of "post-regulation" regulatory regime for P2 P online lending industry in China.