Study On The Risks Of P2P Lending Platform And Its Preventive Measures

P2P network lending, appeared in China in 2007, its development has been 10 years. Due to the shortage of traditional finance and the financing difficulties of small and medium-sized enterprises, P2P has been developing rapidly since its birth. The number of operating platforms has grown from less than 100 to 2595, and the turnover in 2015 is nearly 1 trillion yuan. However, this high-speed development has gradually exposed a lot of risks, such as the long-term unregulated and unregulated barbaric growth status, access threshold is low, fraud, shutdown, paolu phenomenon is not uncommon, cast a shadow over the development of the industry.The development of P2P platform and the risk exposures have also attracted more and more attention from domestic and foreign scholars. After combing the literature, this paper finds that there are relatively few domestic and foreign researches on P2P risk prevention at present, especially the lack of systematic research and empirical research. The existing literatures focus on the risk of the platform for both borrowers and lenders, while for the lending platform for their own risk research is less, the existing literature is the lack of the composition of the innovation and research ideas. On the basis of combing the literature, this paper summarizes the four operating modes and the seven kinds of risks faced by P2P, and analyzes the causes of risk. Secondly, this paper uses one-way ANOVA to carry out empirical research on 2062 problem platforms. AHP analytic hierarchy process is used to carry out comprehensive risk measurement on 50 sample platforms. The software is SPSS18 and Yaahp 10.1.The empirical results show that:(1) The risk of the platform is borrowing default risk, liquidity risk, operational mode risk and operational risk, market risk, legal and policy risk, information and technology risk; (2) The level of economic development is positively correlated with the operating time of the platform. The positive and negative cases are Chongqing and Shanxi respectively. (3) The statistics show that the economic environment and policy environment have significant influence on the P2P platform, the registration operation time significantly influences the operating time of the platform; (4) The threshold of entry has a significant positive correlation with the operating time of the platform, such as the platform of many banks with low registered capital; (5) In recent years, the P2P industry environment has worsened, such as the average registered capital; (6) From the platform background, the private sector platform for the greatest risk, followed by the banking system, the department of state-owned assets, listed companies, the department of venture capital platform for the lowest risk; (7) From the platform of comprehensive risk measurement, B and C platform and the actual situation is likely to be worse than the sample in this paper, the overall risk situation can not be ignored.In summary, this paper argues that despite the P2P industry outbreak of a lot of risk, but P2P should still encourage innovation and development, while doing a good job of risk prevention, which is China's regulators face the positioning of the P2P industry. Based on the analysis of the conclusions, this paper puts forward the policy thinking and suggestions on risk prevention, and gives policy extension according to the risk classification, the P2P operation risk, the borrower default risk, the liquidity risk, the information technology risk and platform self-improvement. I believe that with the continuous improvement of regulatory policies and risk prevention measures continue to improve, the role of network lending as an innovative financial role will be fully reflected in the development of the industry will usher in a better future.