Research On Regulation System Of Usury In China

Due to the rapid development of China's private capital,the unsmooth channels of private financing and capital input,the downward pressure on the real economy,the increasing demands for transformation,and the complex international financial situation,these years have witnessed increasing difficulties encountered by small and medium-sized private enterprises in taking out loans,prevailing private loans,most notably the overrunning of civil usury,China's usury is permeating swiftly into short-term personal consumption loans,and inducing financial risks and corresponding social problems.The problems in China's usury are to be grave in the coming long period,Accordingly,inspecting and regulating China's civil usury has great significance both in theory and practice.Based on analyzing the legal basis of regulation innovation,adopting the basic theory of usury law,civil and commercial law and economic jurisprudence,by the research methods of historical analysis,comparative analysis,jurisprudential analysis,law and economic analysis,this dissertation saves no effort to answer the following questions:What are the specific problems in China's current usury regulation?What is the environment support for China's usury regulation innovation?What are the thinking breakthrough,value standards,and regulating path of China's usury regulation?How to reconstruct the modes of China's usury regulation?How to design the form and organization of China's usury regulation?Usury is the practice of making monetary loans that unfairly enrich the lender,with excessive interest rates much higher than the national lawful interest rates.Practicing usury is a civil conduct in reality.Usury has a long history.Its existence reflects both the necessity of market economy,and the legitimacy of legal theory.We cannot take a laissez-faire attitude towards it,nor can we over-constrain it.It should be regulated in an appropriate way.This research studies the reasons for the situation of China's usury by summing up the capital scale and real interest rates of China's usury,categorizes the features of China's current usury regulation by clarifying the status quo of China's usury regulation,induces the traits of law cases of China's usury by analyzing the data statistics on China's usury and private loans cases.Based on the above study,this research points out four categories of specific problems in China's current usury regulation:imperfect system and rules,unclear subject positioning,overly simplistic conduct rules,lack of supporting regulation.The problems in China's current usury regulation are not only one focus,but also some significance of this research.This research holds that the full development of social economy provides rather sufficient environment support for China's usury regulation innovation.Firstly,China's national strategy provides policy environment for China's usury regulation innovation.Deepening reforms in an all-round way provides theoretical support for regulation innovation.The concept of system innovation provides intellectual support for regulation innovation.Vigorously promoting inclusive financial system provides conceptual support for regulation innovation.Breaking away from fictitious economy to real economy provides the directional support for regulation innovation.Secondly,market-oriented interest rates offers institutional environment for China's usury regulation innovation.By analyzing the concept and development of market-oriented interest rates,and the relationship between usury and market-oriented interest rates,this research argues that although it can not thoroughly solve the problems of usury,market-oriented interest rates can provide financial system support to lessen China's usury.Thirdly,the legal needs of usury regulation provides market environment for China's usury regulation innovation.Usury regulation should benefit rational allocation of resources,satisfy social financial needs,boost the marketization of interest rates,accord with the development strategies of national economic transformation and upgrading.Meanwhile,usury regulation should be able to overcome the usury impact on the capital market,avoid the potential risks for the national financial system,and prevent economic and violent crimes?Fourthly,experiences of usury regulation abroad provide experiential environment for China's usury regulation innovation.The experiences and insufficiency of usury regulation abroad,and the reality of socialist legal system provide useful references to China's usury regulation innovation.Finally,the study argues that the breakthrough in the way of thinking can be achieved in three dimensions of usury concept,usury capital operation and usury legal regulation.The civil usury should draw on advantages and avoid disadvantages according to market rules and law principles,regulate the conduct of private finance,complement well the private finance.The modes of China's usury regulation should be reconstructed systematically in different layers and dimensions,based on establishing the value standards and choosing the proper regulation path.The dissertation first analyzes the modes and features of China's current usury regulation,which acts as the basis of the reconstruction;then abstracts the basic rules and value standards for China's usury regulation,which works as the theory basis of the reconstruction.The basic rules and value standards include an integral multi-dimension framework,appropriate maintenance of financial freedom,perseverance of interest balance principles,effective prevention and control of systematic risks,and application of typed thinking in order to make usury regulation much accord with its own rule of usury;then divides usury,according to the uses,amounts and terms,into the commercial usury and the civil usury,which provides us a dualistic regulating path;finally sets down the categorization and interest rate limits,and reconstructs the modes of China's usury regulation with the civil usury regulation as a general,the commercial usury as the focus,small short-term usury as a supplement,and serious usury behavior as a crime.Constructing commercial usury regulation to satisfy the national economic development needs of breaking away from fictitious economy to real economy.At first,the study defines the commercial usury by conduct and subject,and puts forward that the commercial usury is not commercial loan sharks,but part of the usury with commercial behavior characteristics,and that regulating the commercial usury can be realized by establishing a relatively stable and independent system frame.The conduct boundary of the commercial usury is the specificity of both subjects,the operation of the borrowing activity,double profit-making of purpose,not absorbing the public deposit.The specific subject includes professional lenders,non-financial legal entity,pawn shops,private banks,and micro-credit company,whereas,excludes natural persons,bonding company,private fund,financial leasing company,cooperative fund and the FSA.The study then argues that capital sources of the commercial usury should be dredged by law.On the basis of arguing the feasibility of the private capital dredged to commercial usury,multi-leveled dredging plans for the private capital are proposed in the perspectives of subject admittance,behavior operation,and subject withdrawal,so that the private capital could be maintained and increased in value,and serve personal consumption,enterprises development,and national economic transformation and upgrading.The study finally proposes from three perspectives ten regulatory measures i.e.registered capital of the lending entity,eligibility assessment of the main lending,administrative penalty of illegal lending,regional supervision of lending practices,filing supervision of lending practices,reintegration of lending subjects,and judicial rescue of lending subjects to bring the subject and conducts of the commercial usury into comprehensive system supervision,and to realize the systematic control and prevention of the risks for the private capital.Designing small and short-term usury regulation to meet people's diversified financial needs.The dissertation explores the basic information,the operating rules and regulations of the "payday loan" carried out in America and Britain;then analyzes the good and bad sides of the "payday loan".The dissertation then explores small short-term usury from the angles of the development strategies,loan market,technique innovations,law and morality,and designs China's small and short-term usury regulation from the aspects of subject,conduct and supervision.By learning from Germany's multi-layer cooperative organization and India's organization,multi-layer organization of small and short-term usury should be established to make state-run capital to initiate and participate,attract private capital to manage so that we can supervise private capital,toughly control illegal debt-collection,fulfill the social responsibilities and moral duties of state-run capital.By learning from Italy's usury regulation,loan rescue fund should be established to defuse usury arrears.A big data monitoring platform should be established for small and short-term usury to monitor the personal credit of loan subjects.Personal bankruptcy system should be established to achieve the minimum regulation guarantee of small and short-term usury.The dissertation finally discusses the essence of the new phenomenon of internet "cash loan",and holds that internet "cash loan" should be categorized into China's small short-term usury to satisfy individual's needs for cash and realize the blueprint of inclusive finance.This research systematically puts forward the thinking breakthrough,value standards and path selection of China's usury regulation,constructs the modes of China's usury regulation,designs the form and organization of China's usury regulation in order to provide some references to China's usury regulation so that private capital can earn normative guidance and sunny supervision,the financial needs of individuals and enterprises can be rationally satisfied,the systematic financial risks can be effectively prevented and controlled.