Try To Talk About The Legal Regulating Of The Our Country Folk Lending

How to define private lending? The law has no specific provisions.Also, there are divergent academic views. Private lending has a longhistory in our country, and it was once prosperous in ancient times.During the modern time, due to the rise of the banking sector and theformal financial sector, it has witnessed gradual decline. In view of theexpansion of market financing needs and other reasons, the privatelending is developing rapidly and is increasingly being paid attention toby the whole society. However, there is no specialized private lendinglegislation currently and the legal norms on private lending arefragmented and they lack coordination and operability, which result in alot of problems in dealing with private lending disputes in practice.Therefore, the establishment and improvement of the legislations onprivate lending is a priority in China. This paper attempts to start from thedefinition of private lending. By analyzing the properties of privatelending, utility, it aims to lay out the basic features of the private lending.It also sorts out and evaluates some relevant existing legal norms ofprivate lending. After doing so, it points out some problems, and puts forward some specific regulatory proposals and legislative proposals.