Individual Credit Consumer Loans Legal System Research

To optimize the economic structure, consumption play a more and more the important role of stimulating the economy with China's continuous economic development. Government did a long-term exploration and practice on the economic and social functions of personal credit for the sake of stimulating consumption and promoting the integrity of the community. In the year of 2009, the first consumer finance company got permit in China, and it marks the utility of personal credit on consumption. As a new emerging consumer credit, it will powerful promote the Chinese consumer market. However, since personal credit system is in the progress, personal credit on consumption without any other property guarantee may meet with some problem both at the legislative level and operational level. For instance, the access problems among many financial institutions operating personal credit consumption, the financial services practitioners standards, the comparison between personal consumer credit and other financial services in build the credit society, the new understanding of credit as a new legal object in legal relationship and so on. This article start with the personal credit legal relationship and consumer credit laws and regulatory environment, intend to design of legal guidelines for reference based on analysis of formation and operation problem of the legal relationship of personal consumer credit respectively with comparison and survey research methods. Innovation of this paper is the comprehensive comparative analysis on personal credit and focuses on special problems that have emerged on the personal credit area, so as to come to legislative guide conclusion for legal operation.