Research On The Regulation Of Chinese Person-to-Person Lending Industry

Under the current situation, the Internet financial has become the future development trend of financial industry. It has brought tremendous impact on the traditional financial industry and gives a profound impact on the change of future financial model. As an important financial innovation’ peer to peer lending plays a significant role in solving the shortage of funds of individuals and small enterprises. Peer to peer lending has made great strides since the beginning of this century when it appeared. According to the statistics of Peer to Peer Lending’s Home, as of the end of June2014, the number of the P2P platform in China has reached1184. The total turnover reached81.837billion yuan, which has surpassed the United States and became the world’s largest peer to peer lending market. With the rapid development of peer to peer lending, many of the issues like false information, fraud running and platforms collapse have been exposed. The reason why these problems exposed is due to the lack of regulation of peer to peer lending industry. In order to ensure the healthy development of the P2P industry and protect the interests of investors, it is urgent for the regulatory agencies to make appropriate regulatory approach.This paper mainly pays attention to the regulation of peer to peer lending industry. This paper is divided into five parts.The first part is an introduction. It describes the background and signification of this topic and also introduces the concepts and features of P2P briefly, then summarizes the current domestic and international research. Finally it comes up with the ideas, methods, innovation and shortage of this paper.The second part is the theoretical study on the regulation of peer to peer lending. It analyses the necessity of the regulation base on the public interest theory, asymmetric information theory and regulatory arbitrage theory.The third part is the research on the current situation and regulatory issues of peer to peer lending in China. We can get the general impression of the P2P industry by analyzing the development status and the risks it faces. Then we analyze the regulatory problems we encountered by combining cases.The forth part is mainly about the analysis of the regulatory status of P2P industry in United States and United Kingdom, and lessons we learn form their experiences. The UK and US play an important role in the development of P2P industry. We can get inspirations from their regulatory status by comparing and analyzing the typical cases and mirroring their experiences and lessons.The last part is the opinions and suggestions on the P2P industry regulation in China. Combining the analysis of the third and the forth part, we put forward the opinions and suggestions about the regulation of P2P industry in China base on the foreign experiences. All of these are in the view of the current situation of China.This paper discusses the regulation of peer to peer lending in China. It mainly focuses on the three key points by combining cases. These three key points are laws and regulations, industry autonomy, regulator and P2P platform. At the same time, it also analyses the regulation in China by comparing the experiences of foreign countries. Because peer to peer lending has not been developing for a long time, as a new thing, the researches on it are insufficient for both domestic and overseas. Enough references about it can not be obtained. Since the P2P platforms in China have shortages in information disclosure, some information and data can not be got. So this paper is short of depth and theory in the study of peer to peer lending. Hoping that teachers and students can be criticized and corrected...