Research On P2P Lending Supervision In China

Represented by P2 P network lending and borrowing business,Internet Finance became an important complement for traditional financial industry.Based on diversified Internet platforms,P2 P business has information,cost advantages and develops very fast,but it is poorly managed and lacks effective supervision.In order to guard against the financial risks brought by P2 P lending and borrowing,keep the country's financial order,the study of the regulation about P2 P network credit is very important and urgent and has important theoretical and practical significance.This article mainly adopted both theoretical analysis and empirical research,comparative research and case analysis,system analysis methods.Chapter 2 clarified the definition of related concepts,and generalized financial disintermediation theory,industrial organization theory,financial risk theory,financial function theory,and big data theory,etc and considers it a theoretical basis of this paper.Chapter 3 described the development course and status quo of China's P2 P network credit,made a classification research on the main operation modes and characteristics of P2 P network loans,summarized the main problems existing in the process of rapid development of the current Chinese P2 P lending,taking China's P2 P lending company “KXD” as a case study to understand business models,risk management and the current situation of government regulation of the P2 P lending company,and domestic regulatory status and problems of P2 P lending lastly.Chapter 4 made a comparative study of the P2 P network credit supervision system of the United States,Britain,Japan,Germany,France and other countries,thus providing reference for the construction of China's P2 P network credit supervision system.Chapter 5,based on big data credit method,built the evaluation index system of social credit and personal credit assessment early warning model,calculated the borrower's defaults,thus early warning the borrower's credit.After making an empirical research on P2 P network platform loan risk ratings and early-warning,this paper proposed risk ratings on P2 P network loan platform.Chapter 6 constructed the dynamic game model between P2 P network loan stakeholders,clarified demands and behavior of the parties,thereby putting forward the direction of regulation and the construction of credit cooperative regulatory system of China's P2 P network loan based on big data.Chapter 7 made proposals for regulating P2 P network loan industry beforehand,inwards and afterwards according to the different stages of enterprise operation.By taking the collaborative regulation mode combined agency regulation with function regulation on the basis of big data,setting up a P2 P network credit supervision committee with "an industry and three committees " as the main one,and coordinating the implementation of Chinese P2 P network loan regulatory policies,the dynamic supervision of China's P2 P network credit can come true,and regulatory loopholes the regulators may appear in the system of different businesses can be avoided.For the regulatory measures,we should be appropriate to increase the threshold for P2 P lending market access;improve the credit system,fulfill effective link of it with bank credit reporting system;strengthen the dynamic capital regulation;improve systems on information disclosure,credit rating,and customer service;encourage the establishment of industry self-discipline associations,add consumer s' rights protection channels;achieve the purpose to effectively protect rights and interests of consumers by improving the P2 P platform exit mechanism.The innovations of this paper lie in the following respects:(1)Putting forward the establishment of the third-party Internet credit system based on the central bank credit system,constructing the evaluation index system of social credit by big data inquiry method,and establishing personal credit assessment early warning model by combining neural network with Logistic regression methods.(2)Building the dynamic game model among stakeholders of P2 P network credit(including regulatory bodies,lending platform,individual or small and micro enterprises for loans),clarified demands and behavior of the parties,thereby putting forward the direction of regulation.(3)Establishing the cooperative regulatory system framework of China's P2 P network credit based on big data,making clear regulation principles,subject,target and focus on each stage.