An Analysis Of The Legal Nature And Supervision Path Of P2P Network Lending Platform In China

P2P network lending is a new financing pattern that people set up a lending relationship through the Internet except traditional financial intermediary. It appears as a response to innovate and break through the financial market under the financial repression policy. Network lending effectively solves the conflict between the disengaged private capital and small, micro businesses financial difficulty, vitalizes the financing between informal finance and small, micro businesses, and greatly promotes the reasonable distribution of credit resources. However, as the development of the network lending market in China is still in the initial stage, various kinds of risks aroused accordingly are becoming increasingly fierce, likewise, there are also growing calls for urgent supervision of the network lending platform.Whether it is in need to supervise the network lending platform and how to supervise it after all, the premise is to determine its legal nature. Under the financial supervision system of "separated supervision" for many years in our country, as a form of financial innovation, the P2 P network lending platform that involves multiple fields will certainly bring challenges to current financial supervision work. On the one hand, the undefined legal nature leads it to a dilemma to define the supervision subject; on the other hand, multiple threshold and restriction caused by supervision in various fields will damage the growth environment of the network lending platform, and even may restrain the finance innovation. How to improve network lending operating efficiency without damaging public interest is the key to the network lending supervision.Therefore, network lending supervision path shall be chosen and defined through cautious analysis. Because the financial market will fail to adjust itself, and the governmental agencies are also affected by its selfishness in the process of supervision, network lending operators, as the supervisors, take in disadvantage position in the market competition. As a result, in consideration of supervision cost and benefit, network lending supervision shall adopt the governmental supervision and market self-discipline supervision at the same time. However, in different developing stages, the safety and efficiency shall be divided into primary and secondary value appeal. When the current network credit industry is still at the initial stage, the network credit supervision pattern based on the market self-discipline supervision can achieve optimal supervision strategy.