Research On Legal Issues Of P2P Supervision In China

P2P, which is a new kind of financial product comes from British. In 2007, P2 P was gone to China where the financial environment was constrained. P2 P as a newly product made its effort to traditional market. These years witnessed P2 P development in China, but there are some adverse effects such as no entrance, standard and supervision system. In some place, P2 P openers cheated and took investors’ money away.The features of P2 P are professional, complicated and hided. When it came to China, openers changed its mode to adapt market. UK and USA created different systems and laws to solve the developing problem for a long time. Now P2 P market is stable and in order. We can learn these excellent methods to help Chinese P2 P by making laws and association. This essay will divide for three parts:The first part will introduce Chinese P2 P modes. Now there are mainly four modes: classic mode, capital pool mode, credit guarantee mode and own use mode. The specific introduction will be shown on the main part.The second part is talking about Chinese P2 P supervisor problem. The important problems are:(1) the number of platform is big, as well as the transaction capita. In 2014, there are 2000 more platforms and 300 billion in total;(2) the mode changed from information center to credit service;(3) it lost consumer finance features because it serves micro companies instead of individual. The companies took money to produce, so it is commercial loan;(4) the platform publishes information on line and select investors and check borrowers’ financial condition;(5) the gap of whole industry is deep. No entrance, standard and supervisory system.The third part’s main idea is giving my suggestion and designing specific supervisory system.(1) the supervisory system should be flexible and give more space for industry development;(2) classified supervision, according to the different function, give more or less stress;(3) setting Banking Regulatory Commission as the core department, collaborating with other department;(4) making unified standard and make clear of openers’ qualification, skills and organization frame;(5) setting minimum capital to help P2 P controlling risk;(6) separating investors’ money from platforms’ capital and making transaction professional;(7) protecting consumer by giving them efficient ways to complain and solving their problems.