The Research On The Current Situation Of P2P Network Credit Platforms

As a new form of non-governmental credit in financial industry, P2 P network credit has enriched the forms of private credit, more effectively allocated the social capital, broadened the residents’ investment channels, made up the shortage of traditional finance in small and micro fields, and promoted the development of financial industry in our country with its existence and development. In the meantime, we also must realize that P2 P network credit industry is still in an early stage of development in our country, and although P2 P network credit platforms possess the attributes of financial institutions, they don’t have financial license and are completely dissociated from the existing supervision system of our country. The high demand of capital market and the over-low threshold of industry access make P2 P network credit platforms grow wildly, and present chaotic phenomena. Besides, due to the imperfection of China’s credit information system, the lenders’ moral risk issue certainly can’t be avoided, and once it comes across economic downturn, the capital chain of P2 P network credit platforms are very likely to crack, resulting in P2 P network credit platforms’ runaway. Currently, many P2 P network credit platforms are suffering from the test of more and more risks. From the latter half of 2013, P2 P network credit platforms started to collapse one after another. There were altogether 132 P2 P network credit platforms with full license collapsing in 2013, which involves more than 3 billion yuan, and among them, 40 P2 P network credit platforms with full license declared capital chain crack or collapse only in October. According to incomplete statistics, the overall overdue rate of the loan issued by P2 P network credit platforms in our country in 2013 exceeded 5%, and the risk status showed a trend of deterioration.For P2 P network credit platforms, if they want to develop normally and expand gradually, then what they need to improve currently is their risk management ability. For now though, many P2 P network credit platforms with seemingly good operation state close down or run away overnight, for their risk management is not in place, so how to prevent the potential risks effectively and better appears to be of vital importance to the development of P2 P network credit platforms. Compared to traditional financial institutions who have relatively mature risk prevention and control system, P2 P network credit platforms, as the new emerging thing, currently don’t have the method to quantitatively measure their risks. The domestic researches on the risks of P2 P network credit platforms are mostly qualitative ones, and the only quantitative research is just based on the data of lenders’ overdue rate, but there lacks the measurement and research of the overall risks of P2 P network credit platforms. Therefore, starting from microscopic body, this paper pays attention to the specific individual in P2 P industry, and concludes the major risks P2 P network credit platforms are faced with at the present stage and the defects of existing risk management system by analyzing the current situation of the risk management of four typical modes of P2 P network credit platform and the concrete risk management situation of Tintin Loan, thus proposing the author’s own opinions on how to prevent and resolve the potential risks in P2 P network credit platforms.This paper firstly introduces the research background, and then illustrates the research objective and significance; the second chapter mainly is the theoretical foundation and literature review of this paper; the third chapter focuses on analyzing the risks existing in the four domestic mainstream P2 P credit platform modes at present and risk management measures; the fourth chapter starts from the author’s actual work, and more detailedly analyzes the risks P2 P network credit platforms are faced with, and the problems in the existing risk management measures of P2 P network platforms and their causes with the example of Tintin Loan; the fifth chapter proposes the author’s own suggestions for improvement aiming at the defects of Tintin Loan’s existing risk management system, and hopes that these suggestions can provide reference to the risk management of the entire P2 P industry.