| P2P(Peer to Peer)online lending is a new network business model as a mediator connecting the needs and the providers of funds.It is established at 2005 and developed rapidly in the UK,US,and China.P2P online lending was beginning to show explosive growth in China since 2013,the number and bargain volume of platforms are growing rapidly,but its inherent risks are gradually exposed at the same time.Among the risks,the credit risk is particularly concerned.Especially when the borrower is a person,the lack of regulatory information such as a table sheet make it's harder to assess credit risk.Therefore,I selected the credit risk of personal P2P online lending as research subjects,and divided it into two dimensions,which are borrower's credit risk and platform's credit risk.I am trying to explain: how to manage the credit risk of personal P2P online lending in Chinese market.In this article,I chose the UK and the US as representatives of the mature markets,analysis of the development,the borrower credit risk management and regulatory measures of P2P,and compare it with the Chinese market situation.At the same time,in order to do some case study,I selected Prosper from the US,Zopa from the UK,Hongling venture capital and Paipai Dai from China as representatives among P2P platforms and some problematic platforms such as E Daibao.By analyzing the measures to manage the credit risks and the issues lead to problematic platforms,we could get some experience in managing borrower's credit risk and platform's credit risk.Based on above study,we can find the main crux in China's personal P2P online lending,including credit information system,"over guaranteed" operation,opaque market and immature regulation.Combined with up to date management policies published in 2015,we make recommendations herein operate from three angles,government regulation,industry self-regulation and P2P platform.It is supposed to help solve development problems in P2P online lending,private financing to promote its role in regulating the market,the development of “Inclusive Finance” positive effect. |
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