A Study On The Legal System Of Private Lending Subjects

With the high-speed development of socialist economy, Chinese get wealthy day by day. The development of China’s economy is restricted seriously by the traditional financial system, which consequently provides tremendous potential for the prosperity of private lending in China’s financial market. Owing to the diversity of private lending subjects, private lending has caused a large number of lawsuits in the developing process. The number of private lending lawsuits concluded by nationwide courts in 2014 is 1024 thousands, and that in the first half year of 2015 is 526 thousands, with year-on-year growth of 26.1%. Private lending lawsuit has become the second major civil action now, ranking only second to disputes over marriage and family.Having broken the tradition, private lending is no longer small-scale lending based on trust. The scope of private lending subjects has expanded from natural persons to enterprises or other organizations. The existing laws could no longer adapt to the development of current private lending subjects. It is a major issue in China’s current academic and practice circles that how to make private lending develop in a healthy and well-organized way. A scientific and reasonable legal system is a premise to guarantee that private lending subjects conduct lending activity freely, and also is a solution to many dilemmas in the development of China’s private lending. In this paper the researcher mainly focuses on the legal system about private lending subjects. After comprehensively analyzing its basic theory and specific legal system, the researcher hopes the legal field of private lending subjects could be enriched, and these subjects develop towards diversity.This paper consists of five parts.In the first chapter, the researcher has analyzed the basic theories of private lending subjects on the whole. To begin with, different viewpoints on the concept of private lending subjects in academic circle are stated and analyzed. And then the nature of private lending subjects is discussed. In the second place, the legal features of China’s private lending subjects are summarized. At last, the civil capacity of private lending subjects is discussed in detail.The second chapter is about the types of private lending subjects. Private lending subjects can be divided into different types according to different criteria. In this chapter the researcher has introduced its academic type, legal type and special type, and particularly put stress on analyzing the issue of special subjects, to offer insight into the status quo of private lending subjects accordingly and lay a theoretical foundation for the perfection of relevant legal system.The third chapter is about the status quo of China’s legal system about private lending subjects. Through combing the legal system, the researcher has analyzed its advantages and shortcomings from a unique standpoint, in order to put forward some proposals on its perfection.The fourth part is an investigation on the comparative law of private lending subjects. The mature legal system in worldwide regions except mainland China has been introduced. Then the researcher has analyzed the mature experience and new features presenting in the development of China’s private lending subjects to put forward some referential proposals.The fifth part is about the perfection of China’s legal system about private lending subjects. Firstly, multi-layered legal system should be established by laying down special laws and perfecting relevant rules. Then the criteria of market access for private lending subjects should be clarified. Thirdly, the supervision on private lending subjects should be reinforced by selecting supervision model and determining supervision subjects, content and objects. Finally, the complete legal safeguard should be provided for private lending by perfecting the relevant supporting system about private lending subjects, such as credit investigation system and information monitoring system.