The Criminal Regulation On Private Financing

In recent years,with the rapid development of China's economy,the non-public economy subjects which are represented by small and medium-size enterprises have been growing at full speed.Banks and other formal financial institutions cannot meet its increasing demand for funds.At the same time,large sums of social funds have been lying idle for lack of adequate investment channels.Against this background,the scale of private financing increases day by day and has been a useful supplement to formal finance with its special advantages.However,due to the absence of legal and government regulation,private financing activities also brought about a series of negative effects and caused damage to the national economic order and civil rights of property.Currently,pre-law on private financing is very fragmented.Neither does it define the concept of private financing clearly nor form a relatively complete system of legal norms.The ambiguous legal status of private financing and the lack of non-criminal regulation means lead to the excessive intervention of criminal law.It squeezes the living space of normal private financing activities and hinders the healthy development of private financing.Therefore,it is necessary to study and comb the criminal regulation on private financing to discover problems and defects about it.Cracking down on the crime of illegal financing is important.Meanwhile,we should be on guard against the excessive intervention of criminal law on private financing to ensure the healthy development of private financing activities in China.The full text is divided into four parts:the first part starts with the concept definition of private financing,and analyzes the characteristics and legal attributes of private financing.This part defines that private financing is a neutral concept which contains both legal behavior and illegal behavior.Extraterritorial criminal regulation on private financing is also introduced,in order to provide a reference for Chinese criminal regulation.The second part describes the status quo of the development of private financing and pre-law on private financing.It analyses the situation of the illegal private financing which may be related to criminal law,and introduces civil,administrative and other pre-law regulation on private financing situation from positive and negative perspectives.At the present stage,pre-law on private financing is very fragmented and it hasn't formed a relatively complete system of legal norms.Most of pre-law holds a negative attitude towards private financing which doesn't have a clear boundary between legal and illegal private financing activities.For a long time,pre-law pays too much attention to cracking down illegal private financing activities,ignoring protection of legal private financing activities and guidance to other private financing activities.The third part analyses the status quo of criminal regulation on the crime of illegal deposits from public,the crime of fund-raising fraud and folk usury behavior in depth.Due to the absence of pre-law,there is lacking in cohesion and transition between pre-law and criminal law in China,which leads to the excessive intervention of criminal law on private financing.This is not only contrary to modestly restraining spirit,but also hinders the healthy development of private financing and economy.The fourth part puts forward the suggestions of perfecting the criminal regulation on private financing.There are lots of criminal activities in the field of private financing.Therefore,it is necessary to use criminal law to regulate private financing activities.But the degree of intervention of the criminal law should be limited to avoid causing damage to some normal private financing activities.The criminal law should comply with modestly restraining spirit,adhere to both financial security and financial efficiency in terms of legislation idea,define the limit of intervention in the field of private financing,and be strict with the guilty standard of criminal law.At the same time,the pre-law on private financing should be completed,building a hierarchical legal regulation system with criminal law and guiding private financing to develop healthily.