The Research Of Legal Issues About Internet Financial Supervisions In China

With continuous development of Internet and communications technology, the Internet finance in China has developed rapidly. The emergence of the newly-developing Internet financial products, such as Renrendai, Crowd funding and Yu’ebao, etc. as well as the expansion of market scale all bring good news to small and medium sized enterprises which need financing and the investors, but have also caused threats to commercial banks and the whole financial safety protection system. The careless supervisions and imperfect laws cross the nation have already hindered the sound and orderly development of the Internet financial industry, which can only be solved through appropriate supervisions so as to completely eradicate some illegal companies to seize the opportunity to seek profits and endanger the industry. Therefore, the paper conducts the study to provide legislative proposal and resolutions for supervisions on Internet financial industry, and to offer evidence for sound and orderly development of its supervision regulations as well as at the same time better guarantee investors’interests.The paper analyzes such problems as laggardness of legislation, imperfect supervising subject, vague organization orientation, unsound internal control system, deficient third party deposit system on capital and insufficient protection on customers’privacy right, through conceptual analysis, comparative study and document research, based on referring to existing laws of Internet financial supervision and supervision mode in America. Besides, by explicating the supervision principles and choosing appropriate mode of Chinese Internet financial management and supervision in accordance with national conditions as the starting point, it puts forth specific solutions on how to improve Chinese Internet financial supervision and management status quo, so as to accelerate legislative process, refine supervision subjects, specify industry orders, perfect the laws & regulations, strengthen internal control, protect consumers’interests and solve the bad impacts brought about by imperfect Internet financial supervision, for the purpose of further improving the legal system of Chinese Internet financial supervision and promoting the sound and healthy development of Chinese financial system.