The Research On The Development And Supervision Of Peer-to-Peer Network Lending In China

As the outcome of the combination between Internet finance and informalfinance, peer-to-peer network lending has broken the limit of conventionalacquaitance community, extend the range of informal lending and remedy traditionalfinance’s weakness. It will make great importance for the realization of inclusive anddemocratic finance. Since the first domestic peer-to-peer network lending platformestablished in July2007, this industry sprang up promptly. However, in theuncultivated growing up, it’s confronted with numerous risk. How to supervise thisburgeoning industry is a significant issue in front of our economists.Firstly, this thesis sets up four theoretical basis for the online lending business,including Internet finance theory, folk finance theory, finance risk theory and financesupervision theory; then it make detailed description on the development situationboth overseas and domestic.At the same time, this thesis analyze the business modelof PPdai, Hongling Chuangtou and Creditease in the comparative perspective; Basedon the current situation，it discovered and explained the risk exposure, they are creditrisk, operational risk, market risk and legal risk.; In order to promote network lendinginto a normal track, it’s necessary to bring it into our supervision. Thus, this thesis putforward reasonable evaluation criterion and principles of supervision——self-regulation,prudential regulation and regulatory tolerance; At the same time, it also tries to designan effective supervision system,which is mainly consist of market access, creditsystem, information disclosure and market exit.Lastly, this thesis puts forward thesupervision scheme based on the USA regulatory framework.