The Legal Attribute Of P2P Lending Platforms Of China

With the rapid economic development and the constant technological advancements of China,domestic peer to peer lending platforms have sprung up everywhere in this nation.Some of them learnt from western countries' experiences directly while the others innovated the running modes according to the existing economic level and people's economic conditions of China.Peer to peer lending platforms have jumped at the opportunity of Internet and realized a matching between residents' idle money and their financing needs.Such lending platforms have removed the negative impacts of time and space and it is really a good and important way to achieve financial inclusion.Those peer to peer lending platforms that rising in China have solved the problem of SME financing and provided a convenient way of borrowing for university students,office workers and farmers,etc.,but meanwhile,there have been problems in the process of development.The seven big problems that listed in The Attention for the Risk of Peer-to-peer Lending,which was released by CBRC in 2011,and even the events of peer to peer landing platforms running away with the money both triggered academic's and public's broad thinking.Most of the scholars study how to prevent the risk that such peer to peer landing platforms making to the investors and the borrowers,but they rarely study at the legal attribute of peer to peer landing platforms.As far as the author is concerned,the explication of legal attributes is the premise of legal protection and supervision.As long as we define its legal attribute,we could study what law suits the problem more clearly.This article begins with the development status of Chinese peer to peer lending platforms,through introducing some well-developed running models of such foreign peer to peer lending platforms,it analyzes Chinese running modes of such platforms,including pure credit and unsecured mode,composite intermediary mode and the mode of assignment of credit and defines their legal attributions.According to Chinese current running modes of peer to peer lending platforms,this article analyzes the clientage,the loan contractual relationship,guarantee relationship and the brokerage contractual relationship under different modes,compares and analyzes the relationship betweenpeer to peer lending platforms and banks,small loan companies,brokers,united guilds and so on.This article concludes the suitable legal principles of platforms of different modes,then it would provide a basis for a healthy and orderly development of Chinese peer to peer lending platforms.